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FINANCIAL REPORT

FOURTH QUARTER 2013

MARCH 2014

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Index

1. Summary of Consolidated Results 4th Quarter 2013 .……............................

2. Summary of Consolidated Results accumulated as for December 2013 ..........

3. Highlights in the 4th Quarter 2013 ….……..........................

4. Consolidated Income Statement ………....…....................

5. Analysis of Consolidated Results ………....…....................

6. Data by Country and Business …................................

7. Financial and Profitability Ratios …................................

8. Consolidated Financial Statements - IFRS

- Consolidated Balance Sheets ………....…....................

- Consolidated Income Statement ………....…....................

Notes:

All figures in dollars are calculated using the published dollar exchange rate January 2, 2013 (Ch$

524.61 per US$1).

Symbols for periods in the year: Quarters: 1Q (first quarter), 2Q (second quarter), 3Q (third quarter)

and 4Q (fourth quarter). 1S (First semester) and 9M (first nine months of the year), as applicable.

Other symbols: SSS (Same store sales).

Currency symbols: Ch$: Chilean pesos; US$: U.S. dollars; MM: millions.

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Summary of Consolidated Results 4th Quarter 2013

EBITDA of Ch$ 11,479 million (US$ 21.9 million) increased by 3.8%, reaching an

EBITDA margin of 23.0% in the 4Q 2013.

Net Profit increased by 6.2% to Ch$ 9,834 million (US$ 18.7 million). As a

percentage of net revenues, it represents 19.7%.

Consolidated Revenues increased by 15.6% in the 4Q 2013 to Ch$ 49,814 million

(US$ 95.0 million).

Gross Margin of Ch$ 29,520 million (US$ 56.3 million) increased by 15.1%,

obtaining a gross margin of 59.3% as a percentage of net Revenues in the 4Q 2013,

which is 0.2 percentage points lower than the 59.5% obtained in the 4Q’12.

Operating Income increased by 2.4% in the 4Q 2013 to Ch$ 10,020 million (US$

19.1 million). The Operating margin was 20.1% in 4Q’13.

The Revenues from the international operations in Colombia, Peru and Uruguay

represented 20.6% of the consolidated revenues in the 4Q 2013, which increased

from 20.0% reported in 4Q’12.

4

Summary of Consolidated Results accumulated as for December 2013


EBITDA margin of 24.9% as of December 2013, the same as the previous year.

Net Profit increased by 20.8% to Ch$ 37,888 million (US$ 72.2 million). As a

percentage of net revenues, it represents 19.6% as of December 2013, 1.2

percentage points higher than the 18.4% reported in December 2012.

Consolidated Revenues increased by 13.4% as of December 2013 to a record Ch$

193,631 million (US$ 369.1 million).

Gross Margin of Ch$ 112,204 million (US$ 213.9 million) increased by 15.3%,

obtaining a gross margin of 57.9% as a percentage of net Revenues as of December

2013, 0.9 percentage points above than the 57.0% as of December 2012.

Operating Income increased by 12.5% as of December 2013 to Ch$ 42,888 million

(US$ 81.8 million). Reaching an Operating margin of 22.1%.

The Revenues from the international operations in Colombia, Peru and Uruguay

represented 17.2% of the consolidated revenues in 2013, the same as the previous

year.

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Highlights in the 4th Quarter 2013

Stores Opening

Total of new stores opened in 4Q 2013: 47 stores

During the 4Q 2013 the company opened the following new stores:

Country # Stores Chain Store City Sq. meters

Chile Billabong Plaza Antofagasta Antofagasta 125

Billabong Plaza Norte Santiago 81

Billabong Plaza Vespucio Santiago 71

Billabong Plaza Tobalaba Santiago 97

Billabong Plaza Sur San Bernardo 100

Billabong Plaza Trébol Concepción 62

Billabong Mall Sport Santiago 70

Billabong Buenaventura Santiago 731

Hush Puppies Plaza Egaña Santiago 128

Azaleia Plaza Egaña Santiago 71

Hush Puppies Kids Plaza Egaña Santiago 82

We Love Shoes Plaza Egaña Santiago 80

Total 12 1.698

Colombia Hush Puppies Buenavista Monteria 48

Hush Puppies La Estación Ibague 54

Caterpillar Buenavista Monteria 74

Caterpillar La Estación Ibague 88

Caterpillar Plaza Castillo Cartagena 88

Total 5 352

Uruguay Hush Puppies Montevideo Montevideo 114

Caterpillar Montevideo Montevideo 95

HP Kids Montevideo Montevideo 42

Pasqualini Montevideo Montevideo 88

Merrell Montevideo Montevideo 80

Rockford Montevideo Montevideo 149

Total 6 569

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Country # Stores Chain Store City Sq. meters

Peru Hush Puppies Arequipa Arequipa 91

Columbia Lima Lima 116

Rockford Cusco Cusco 110

Hush Puppies Kids Cajamarca Cajamarca 55

Hush Puppies Cajamarca Cajamarca 77

Hush Puppies Cusco Cusco 89

Columbia Cajamarca Cajamarca 85

Billabong Lima Lima 63






Billabong Trujillo Trujillo 150




Billabong Ica Ica 106




Billabong Chiclayo Chiclayo 125

Billabong Arequipa Arequipa 126


Total 24 2.446

Total 47 5.064

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Acquisition of the chain of stores 7veinte in Chile

On November 29, 2013 Forus completed the acquisition of assets (Billabong, Element,

Kustom and Von Zipper distribution contracts, as well as the leased contract of stores,

stores’ accessories and facilities and brand’s inventory) of Billabong operations in Chile to

the Chilean companies GSM Chile and Diego Peralta Valenzuela by US$ 6.8 million. These

acquisition was covered by the company's own funds. As a result of this, 8 of the 9

Billabong stores in Chile were incorporated in Chile’s Forus operation.

Furthermore, on December 7, 2013 Forus completed in Peru the same acquisition of

Burleigh Point Ltd. assets -Billabong, Element, Kustom and Von Zipper- to the Peruvian

companie SanMaree Pty, Peru, by US$ 4.6 million, covered by the company's own funds.

As a result of this, 17 of the Billabong stores in Peru were incorporated in Peru’s Forus

operation.

Launch e- commerce brand Merrell

In November 2013 the brand Merrell launched the e-commerce platform on their website

(www.merrell.cl). This is the third Forus’ brand with e-commerce, since the launch of the

brand Cat in May (www.cat.cl) and Columbia in September (www.columbiachile.cl).

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Secondary Offering of Shares

In December 13, 2013 Inversiones Costanera Ltd. (Controller Company) sold to the market

3.0% of the ownership of Forus, which meant 7,800,000 shares of Forus SA, at Ch$2,707.5

per share (US$ 5.08). The collection was for MM US$ 39.63.

In 2013, coming within the first 40 companies listed in the IGPA INDEX, Forus left the "Small

Cap" category for Pension Funds and other small cap funds. This new category also

changed the profile of the funds authorized to invest in stocks. That is why the controller

decided to make a secondary offering, in order to accommodate to the interest and

demand for this kind of investors’ category ("Large Cap"), who required the company

stocks to have higher liquidity. Now the company reached a free-float of 28.9%.

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Consolidated Income Statement – IFRS

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Consolidated Income Statement – IFRS

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Analysis of Consolidated Results

Operating Income

Consolidated Revenues increased by 15.6% in the 4Q 2013 to Ch$ 49,814 million (US$

95.0 million).

The 15.6% growth in the Forus Consolidated Revenues in the 4Q’13 is explained by the

growth of Chile’s revenues as well as by International operations, which grew 13.3%

and 18.0%, respectively.

Regarding Chile, Retail business sales grew 16.5% totalizing Ch$ 34,340 million (US$

65.5 million), which represented 88% of Chile’s total revenues in 4Q’13. This rise is

explained by a 15.0% growth in square meters in 4Q’13 compared to 4Q’12 and an

8.4% increase in Same Store Sales (nominal value) which continued to improve in line

with the positive trend of the year, reporting the best quarterly growth in 2013. We

also highlight the good performance of the Cat, Merrell and Hush Puppies brands, as

well as the successful integration of 7veinte and Billabong operations in Chile.

Wholesale business, which sales represented 12% of Chile’s total revenues, decreased

-5.3% regarding 4Q’12, to Ch$ 4,863 million (US$ 9.3 million). This lower growth is due

to acceleration in sales in 3Q13, leaving less merchandise available for the 4Q13 sales.

This effect was mainly on Azaleia and Merrel brands.

In regards to international subsidiaries, sales increased 18.0% as a whole, but if we

disregard intra companies’ sales realized by Colombia we obtain a growth of 19.3% as

a whole in 4Q’13. The results are the following:

Revenues (Million Ch$)

4Q '13 4Q '12 Var. % 13/12 2013 2012 Var. % 13/12

Colombia 1.970 1.925 2,3% 5.589 6.270 -10,9%

Peru 3.846 2.564 50,0% 11.967 9.687 23,5%

Uruguay 4.466 4.221 5,8% 15.770 14.373 9,7%

Total 10.282 8.710 18,0% 33.326 30.331 9,9%

Without intra-company sales

4Q '13 4Q '12 Var. % 13/12 2013 2012 Var. % 13/12

Colombia 1.970 1.836 7,3% 5.517 5.093 8,3%

Peru 3.846 2.564 50,0% 11.967 9.687 23,5%

Uruguay 4.466 4.221 5,8% 15.770 14.373 9,7%

Total 10.282 8.621 19,3% 33.254 29.154 14,1%

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Same Store Sales. Data in nominal values (in local currency)

4Q '13 4Q '12 2013 2012

Colombia 11,9% 11,2% 9,3% 8,0%

Peru 4,2% 10,5% 4,2% 16,5%

Uruguay -9,4% 6,6% -8,0% 9,5%

In Colombia sales of Ch$ 1,970 million (US$ 3.8 million) surged 2.3% during 4Q’13. If

we adjust sales excluding the intra company sales done by Forus Colombia to the LBC

company in the 4Q’12, sales grew 7.3%. In addition, Same Store Sales boosted 11.9%

nominal, due to the economy recovery, which was reflected in all our chain stores.

Moreover, square meters increased 47.8% regarding December 2012.

In Peru, sales of Ch$ 3,846 million (US$ 7.3 million) grew 50.0% during 4Q’13, mainly

on a 104.8% increase in square meters since December 2012, consisting of 32 new

stores compared to December 2012, of which 53% corresponds to the new Billabong

stores acquired. Same Store Sales growth a nominal 4.2%, boosted mainly by the

positive economic environment. As in the case of Chile, the successful integration of

the Billabong brand during December, represented 27.4% of sales.

In Uruguay sales of Ch$ 4,466 million (US$ 8.5 million) increased 5.8% in 4Q’13

boosted by the 27.9% increase in total sales’ surface regarding December 2012. Same

Store Sales decreased -9.4% in nominal value, due to a slowdown on consumption

level. This is mainly explained by a devaluation of the Argentinean peso that

encourages Uruguayan people to consume in that country and also affected in a

negative way the flow of tourist to Uruguay.

Regarding national subsidiary Top Safety (company dedicated to industrial safety

footwear business) sales during 4Q’13 increased to Ch$ 733 million (US$ 1.4 million),

rising by 9.1% with regards to the same quarter of the previous year.

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Revenues of international operations in Colombia, Peru and Uruguay represented 20.6%

of consolidated revenues of 4Q’13, 0.6 percentage points higher than the 20.0% obtained

in the 4Q’12.

Revenues of international operations in Colombia, Peru and Uruguay represented 17.2%

of consolidated revenues of 2013, the same as the previous year.

Retail Chile78,1%

Uruguay9,0%

Colombia4,0%

Perú7,7%

TopSafety1,3%

Revenues by Subsidiaries 4Q 2013

Retail Chile78,6%

Uruguay9,8%

Colombia4,3%

Perú5,9%

TopSafety1,4%

Revenues by Subsidiaries 4Q 2012

Retail Chile81,5%

Uruguay8,1%

Perú6,2%

Colombia2,8%

TopSafety1,4%

Revenues by Subsidiaries 2013

Retail Chile81,6%

Uruguay8,5%

Perú5,7%

Colombia3,0%

TopSafety1,2%

Revenues by Subsidiaries 2012

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Gross Margin of Ch$ 29,520 million (US$ 56.3 million) increased by 15.1%, obtaining

a gross margin of 59.3% as a percentage of net Revenues in the 4Q 2013, 0.2

percentage points lower than 4Q 2012, where the gross margin was 59.5%.

Chile’s Individual gross margin (Retail plus Wholesale) grew 14.1% with regards to

4Q’12, achieving Ch$ 23,525 million (US$ 44.8 million). Gross margin of 60.0%

increased 0.4 percentage points compared with 59.6% obtained in 4Q’12, mainly due

to a best collection and inventory management, offsetting the negative effect in the

exchange rate, because the spring/summer collection entered this year at a dollar that

was 3.3% higher than the one registered in the same period of the previous year.

Retail business’ Gross margin of Ch$ 21,225 million (US$ 40.5 million) increased 16.1%,

reaching a gross margin as a percentage of sales of 61.8%, which is -0.2 percentage

points lower than the 62.0% from the 4Q’12.

Wholesale business’ Gross margin of Ch$ 2,299 million (US$ 4.4 million) in 4Q’13,

decreased -1.4%. Though, reached a 47.3% over sales, 1.9 percentage points higher

than in 4Q’12. In this case, the negative exchange rate effect was offset by the good

commercial strategy in this channel of Wholesale business.

Top Safety gross margin of Ch$ 243 million (US$ 0.5 million) increased by 10.5%. As a

percentage of sales, gross margin surged in 0.4 percentage points, from a 32.7% in

4Q’12 to a 33.1% in 4Q’13. This increase was mainly due to sales with a better mix of

products with higher margins, together with a lower sale of lower margins past periods’

products regarding last year.

Regarding gross margin of international subsidiaries, during 4Q’13 it increased as a

whole 19.3%, obtaining Ch$ 5,753 million (US$ 11.0 million). Details by country are as

follows:

Peru: a gross margin of Ch$ 2,362 million (US$ 4.5 million) increased by 70.3%.

It’s highlighted the positive growth of the gross margin as a percentage of

revenues, which was boosted 7.3 percentage points, from 54.1% in 4Q’12 to

61.4% in 4Q’13, reporting the higher percentage of gross margin of all business

units, even higher than the Chilean business. This improvement was mainly due

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to the weight of Billabong business acquisition, which is the first brand in sales

and with the higher margin in Peru. The company faced a good quarter with an

optimal inventory level and a good summer season in terms of sales.

Uruguay: a gross margin of Ch$ 2,380 million (US$ 4.5 million) slightly dropped -

1.2%. As a percentage of revenues, gross margin decreased 3.8 percentage points,

from 57.1% in 4Q’12 to 53.3% in 4Q’13.

Colombia: a gross margin of Ch$ 1,011 million (US$ 1.9 million) fell -1.3%

regarding the same quarter of the previous year. Moreover, as a percentage of

revenues it diminished 1.9 percentage points from a 53.2% in 4Q’12 to a 51.3% in

4Q’13.

Operating Income increased by 2.4% in the 4Q 2013 to Ch$ 10,020 million (US$ 19.1

million). The Operating margin in 4Q’13 of 20.1% declined 2.6 percentage points from

the previous year.

The Individual Operating Income (Forus Chile) that accounts for 89.4% of the

consolidated Operating Income, totalized Ch$ 8,957 million (US$ 17.1 million) and grew

8.6% with regards to 4Q’12.

Chile’s Retail business operating income of Ch$ 8,624 million (US$ 16.4 million)

increased 14.3%, explained by an increase in revenues and gross margin. On the other

hand, selling and administrative expenses represented 36.7% of revenues in 4Q’13,

thus increasing 17.4% since the previous year.

On the other hand, in the Wholesale business, a positive operating income of Ch$ 333

million (US$ 0.6 million) was obtained, decreasing in -52.5%. Selling and administrative

expenses as a percentage of revenues, increased from representing 31.7% of revenues

in 4Q’12 to 40.4% of revenues in 4Q’13. This is due to the additional effort required in

order to strengthen the commercial team for the recent acquisitions of Billabong and

7Veinte.

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Regarding international subsidiaries as a whole, these presented an Operating Income

of Ch$ 1.069 million (US$ 2.0 million), decreasing 27.2% from 4Q’12. Operating

Incomes by countries are the following:

Peru: Its Operating Income grew 117.4%, obtaining Ch$ 534 million (US$ 1.0

million) in 4Q’13, obtaining an Operating Income as a percentage of revenues of

13.9% in 4Q’13, 4.3 percentage points higher than 9.6% in 4Q’12. This is due both

to the increase in sales and gross margin. In addition, the strong expansion from

34 to 66 stores during 2013 was reflected in the increase of 8.7 percentage points

in SG&A as a percentage of revenues, reaching a 40.4% in 4Q'13. We highlight that

17 of these 34 new stores were from Billabong Peru acquisition.

Uruguay: Its Operating Income of Ch$ 365 million (US$ 0.7 million) decreased -

59.4% regarding 4Q’12, obtaining an Operating Income as a percentage of

revenues of 8.2%. This given the 6 stores opening in the Nuevo Centro shopping

mall in Montevideo, which increased costs, while sales reflected the lower level

of consumption in the country on political uncertainty before elections and on the

negative impact of Argentinean peso.

Colombia: Its Operating Income of Ch$ 170 million (US$ 0.3 million) decreased

47.7%. This is explained by a 20.2% higher SG&A in 4Q’13, reaching a percentage

of adjusted sales of 42.7% in 4Q’13, 6.4 percentage points above than the 36.3%

reported in the previous year. This is explained by the 9 new stores opening during

2013, which consider higher lease costs, as Colombian lease prices are higher than

the other countries in which we have presence.

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Non Operating Result

Non Operating Result achieved a gain of Ch$ 1.668 million (US$ 3.2 million) growing

78.1% from a profit of $ 936 million (US$ 1.8 million) in 4Q'12.

This positive result is explained mainly (it explains 63% of the improvement) by the

exchange differential account, which obtained a gain of Ch$ 1,045 million (US$ 2.0

million), versus a gain of Ch$ 507 million (US$ 1.0 million) during 4Q’12, 106.0% higher.

Furthermore, Other income account grew by 87.3%, reaching a Ch$ 939 million (US$

1.8 million).

Net Profit and EBITDA

Net Profit increased by 6.2% to Ch$ 9,834 million (US$ 18.7 million).

As a percentage of net revenues, it represents 19.7%, 1.8 percentage points lower than

the 21.5% obtained in 4Q’12.


EBITDA margin of 23.0% in the 4Q 2013, which is 2.7 percentage points below than

the one obtained in the 4Q 2012.

Chile’s EBITDA of Ch$ 9,978 million (US$ 19.0 million) grew 8.0% with regards to 4Q’12,

and represents an EBITDA margin of 25.5% in 4Q’13.

EBITDA from international subsidiaries as a whole grew by 13.5% in 4Q'13 regarding

4Q'12, reaching Ch$ 1.498 million (US$ 2.9 million) and representing an EBITDA margin

of 14.6%.

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Data by Country and Business

CHILE

Retail

(Million Ch$)

P&L 4Q '13 % Revenues 4Q '12 % Revenues Var. % 13/12

Revenues 34.340 29.469 16,5%

Cost of Sales -13.115 -11.189 17,2%

Gross Margin 21.225 61,8% 18.280 62,0% 16,1%

Operating Income 8.624 25,1% 7.543 25,6% 14,3%

(Million Ch$)

P&L 2013 % Revenues 2012 % Revenues Var. % 13/12

Revenues 124.132 108.940 13,9%

Cost of Sales -49.415 -43.528 13,5%

Gross Margin 74.717 60,2% 65.413 60,0% 14,2%


Same Store Sales Growth

Data in nominal values (in local currency)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2012 2013

SSS 14,0% 17,9% 5,7% -2,0% 2,2% 4,3% 5,9% 8,4% 8,3% 5,3%

20132012

Stores Openings / Closings

Date Chain Store Sq.meters

Opening nov-13 Billabong Plaza Antofagasta 125

Opening nov-13 Billabong Plaza Norte 81

Opening nov-13 Billabong Plaza Vespucio 71

Opening nov-13 Billabong Plaza Tobalaba 97

Opening nov-13 Billabong Plaza Sur 100

Opening nov-13 Billabong Plaza Trébol 62

Opening nov-13 Billabong Mall Sport 70

Opening dec-12 Billabong Buenaventura 731

Closing dec-12 Just Smile Plaza Trébol -60

Opening dec-12 Hush Puppies Plaza Egaña 128

Opening dec-12 Azaleia Plaza Egaña 71

Opening dec-12 Hush Puppies Kids Plaza Egaña 82

Opening dec-12 We Love Shoes Plaza Egaña 80

Total 1.638

8 of the 9 Billabong stores acquired in Chile were incorporated in Chile’s Forus operation.

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Change in Total square meters

December 2013 December 2012 Var. 13/12 Var. % 13/12

N° Stores 273 243 30 12,3%

Square meters sales area + window31.166 27.109 4.057 15,0%

Square meters with warehouse33.674 29.640 4.034 13,6%

Wholesale

(Million Ch$)


Revenues 4.863 5.134 -5,3%

Cost of Sales -2.563 -2.802 -8,5%

Gross Margin 2.299 47,3% 2.331 45,4% -1,4%

Operating Income 333 6,9% 702 13,7% -52,5%

(Million Ch$)


Revenues 37.177 33.901 9,7%

Cost of Sales -19.113 -18.532 3,1%

Gross Margin 18.064 48,6% 15.369 45,3% 17,5%


Top Safety

(Million Ch$)


Revenues 733 672 9,1%

Cost of Sales -491 -453 8,4%

Gross Margin 243 33,1% 220 32,7% 10,5%

Operating Income -6 -0,8% 74 11,0% -107,8%

(Million Ch$)


Revenues 3.196 2.477 29,0%

Cost of Sales -2.130 -1.764 20,8%

Gross Margin 1.066 33,3% 713 28,8% 49,4%


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COLOMBIA

(Million Ch$)


Revenues 1.970 1.925 2,3%

Cost of Sales -959 -901 6,5%

Gross Margin 1.011 51,3% 1.024 53,2% -1,3%


(Million Ch$)


Revenues 5.589 6.270 -10,9%

Cost of Sales -2.714 -3.335 -18,6%

Gross Margin 2.875 51,4% 2.935 46,8% -2,0%


Without intra-company sales

(Million Ch$)


Revenues 1.970 1.836 7,3%

Cost of Sales -959 -812 18,2%

Gross Margin 1.011 51,3% 1.024 55,8% -1,3%


(Million Ch$)


Revenues 5.517 5.093 8,3%

Cost of Sales -2.642 -2.158 22,4%

Gross Margin 2.875 52,1% 2.935 57,6% -2,0%




1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2012 2013

SSS -0,6% 11,0% 6,7% 11,2% 18,2% -1,3% 8,9% 11,9% 8,0% 9,3%

2012 2013

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Closing Oct-13 Rockford Andino -110

Opening Dec-13 Hush Puppies Buenavista 48

Opening Dec-13 Hush Puppies La Estación 54

Opening Dec-13 Caterpillar Buenavista 74

Opening Dec-13 Caterpillar La Estación 88

Opening Dec-13 Caterpillar Plaza Castillo 88

Total 242



N° Stores 37 28 9 32,1%

Square meters sales area + window 2.402 1.625 777 47,8%

Square meters with warehouse 3.039 2.100 940 44,7%

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PERU

(Million Ch$)


Revenues 3.846 2.564 50,0%

Cost of Sales -1.484 -1.177 26,1%

Gross Margin 2.362 61,4% 1.387 54,1% 70,3%

Operating Income 534 13,9% 246 9,6% 117,4%

(Million Ch$)


Revenues 11.967 9.687 23,5%

Cost of Sales -5.025 -4.369 15,0%

Gross Margin 6.942 58,0% 5.319 54,9% 30,5%

Operating Income 1.525 12,7% 986 10,2% 54,6%



1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2012 2013

SSS 15,3% 22,0% 19,2% 10,5% 12,6% 0,2% 0,9% 4,2% 16,5% 4,2%

2012 2013

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Opening oct-13 Hush Puppies Arequipa 91

Opening nov-13 Columbia Lima 116

Opening dic-13 Rockford Cusco 110

Opening dic-13 Hush Puppies Kids Cajamarca 55

Opening dic-13 Hush Puppies Cajamarca 77

Opening dic-13 Hush Puppies Cusco 89

Opening dic-13 Columbia Cajamarca 85

Opening dic-13 Billabong Lima 63






Opening dic-13 Billabong Trujillo 150




Opening dic-13 Billabong Ica 106




Opening dic-13 Billabong Chiclayo 125

Opening dic-13 Billabong Arequipa 126


Total 2.446



N° Stores 66 34 32 94,1%

Square meters sales area + window 5.119 2.500 2.619 104,8%

Square meters with warehouse 6.737 3.413 3.324 97,4%

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URUGUAY

(Million Ch$)


Revenues 4.466 4.221 5,8%

Cost of Sales -2.086 -1.812 15,1%

Gross Margin 2.380 53,3% 2.409 57,1% -1,2%


(Million Ch$)


Revenues 15.770 14.373 9,7%

Cost of Sales -7.229 -6.809 6,2%

Gross Margin 8.541 54,2% 7.564 52,6% 12,9%

Operating Income 1.990 12,6% 2.542 17,7% -21,7%



1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2012 2013

SSS 12,6% 11,1% 8,8% 6,6% -5,7% -5,1% -12,0% -9,4% 9,5% -8,0%

2012 2013



Opening oct-14 Hush PuppiesMontevideo 114

Opening dec-12 Caterpillar Montevideo 95

Opening dec-13 HP Kids Montevideo 42

Opening dec-14 Pasqualini Montevideo 88

Opening dec-15 Merrell Montevideo 80

Opening dec-15 Rockford Montevideo 149

Total 569




N° Stores 45 35 10 28,6%

Square meters sales area + window 4.154 3.247 906 27,9%

Square meters with warehouse 4.553 3.425 1.128 32,9%

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Financial and Profitability Ratios

Liquidity Ratios

Units Dec-13 Dec-12

Current liquidity times 4,3 4,5

Acid ratio times 2,5 2,8

Financial Ratios

Units Dec-13 Dec-12

Liabilities composition

Current Liabilities % 93,2% 91,4%

Non-Current Liabilities % 6,8% 8,6%

Units Dec-13 Dec-12

Leverage times 0,22 0,23

Profitability Ratios

Units Dec-13 Dec-12

ROA % 23,0% 22,9%

ROS % 19,6% 18,4%

ROE % 27,9% 28,1%

All data is in term of Consolidated Forus.

93,2% 91,4%

6,8% 8,6%

Dec-13 Dec-12

Non-Current Liabilities

Current Liabilities

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Consolidated Balance Sheets

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Consolidated Income Statement

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Forus S.A.

Address:

Av. Departamental Nº 01053

La Florida

Santiago, Chile

Contact:

Macarena Swett / Jeanne Marie Benoit

Investor Relations

Telephone: (56 2) 2 923 3035

E-mail: [email protected]

Website:

www.forus.cl

Go to the Investors menu.

mailto:[email protected]

financial report - forusforus.cl/wp-content/uploads/2014/03/financial-report-forus-4q-2013.pdf ·...

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