Saturday , July 31 2021

The Group SK earnings fell by 11.5% in September due to the losses caused by Engineering and Construction



Sigdo Koppers SK

Sigdo Koppers (SK) revenues increased 2.3% in September 2017 and came to 1,678.4 million dollars, in line with the higher sales level in the industrial area, Enaex and Eneexen Restaurants Magotteaux by category

The consolidated EBITDA stands out in September 2018 and is 211.3 million dollars, 5.9% more than the same period the year before. This result is related to the better results of Magotteaux and Fepasa and the improvement of the lease and distribution of the SK Comercial machinery business.

On the other hand, Net income reaches $ US $ 45.9 million, which is a fall of 11.5% compared to the third quarter of 2017, mainly due to the losses generated by Sigdo Koppers Engineering and Construction. Work carried out at the Perun Talara refinery. Likewise, it affects the increase in the effective tax rate, since deferred taxes associated with these losses are not recorded.

SK CARD

The results of the subsidiaries of Sigdo Koppers show mixed results by highlighting the improvement of Magotteaux and the sales of the distribution of machinery for Chilean chil- dren by compensating for the negative performance of Engineering and Construction business due to problems of operations in Peru and lower profits SK Inversiones Automotrices lower margins and exchange- state of the art in auto sales business

Filial performance

Engineering and Construction SK (ICSK)

This subsidiary registered 13.2 million men (+ 17%) hours among the award-winning projects. On the other hand, the ICSK pro forma EBITDA lost 4,396 million dollars, a 252-day loss compared to the third quarter of last year. This loss is mainly related to the loss of the project in the Peruvian Talara refinery. In this way, the ICSK showed a net loss of $ 9,504 million ($ 15 million of $ 15 million), which results in a higher result of CLP $ 8,222 million in September 2017. This loss has also increased since deferred tax losses are not recorded. in Talara Admissions will reach 3Q-18, with US $ 39 million decrease of $ 589 million compared to June this year (the departure of the Talara project is lower than US $ 47 million).

Port Windows (PVSA)

PVSA transferred 4.3 million tonnes (+ 3%), highlighting coal and larger grains. Fepasa transportes 823 million tonnes-Km (+ 14.8%), increasing the transportation of concentrated copper.

Thus, the joint EBITDA of Puerto Ventanas reached US $ 33.9 million, which indicates

13% increase as a result of the optimal operating operations of the subsidiary Fepasa. For its part,

The Ventanas Venture Capital Fund earned US $ 14.2 million, which indicates

It fell 8% in September 2017.

Enaex

Enaex achieved sales of 671 thousand tons (+ 7%), thanks to larger services

Brazilian rock division. Enaex's EBITDA Consolidated was $ 119.5 million

in the third quarter, showing a slight decrease of 0.8%, mainly due to the lower results of the Chilean rocketing services.

On the other hand, the net income of Enaex was 55.6 million dollars, which is a 5% decrease.

September 2017

Magotteaux

Magotteaux achieved sales of 528 million dollars (+ 6%) on sales and sales (+ 1%)

especially in the casting business. Magotteaux EBITDA reached US $ 45.8 million in the third quarter, 25% more than in September 2017 to recover operating margins. In this way, Magotteaux achieved a net profit of 10.9 million dollars, which is a 58% increase in September 2017.

Trade SK (SKC)

SK Comercial had revenue of 193 million dollars (+ 1.3%), driven by the area

machinery sale EBITDA was $ 25.6 million, up 49%

With the same period of 2017. SKC in September 2018 presented a net profit of 1.2 million dollars,

above all, the slight recovery of the Chilean machinery market, and none

Sale of land in the result of the restructuring process of the SKC. The perennial market for the rental of machinery is still very hired.

SKBergé / SK Automotive Investment (SKIA)

SKBergé sold sales of 68,773 units, with a 19% increase in September 2017. Sales increased in Chile (+ 28%) and abroad (8%). Despite the above, SK Inversiones Automotrices registered a net gain of $ 10,157 million ($ 17 million), lower than that achieved in the same period of 2017 (CLP -26%), lower operations and effective margins. losses, exchange rate differences (strong devaluation of Argentine Peso in the second and third quarters of 2018).


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