CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 2023
ENJOY S.A.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AT SEPTEMBER 30 2023, 2022 AND DECEMBER 31, 2022
EXPRESSED IN THOUSANDS OF CHILEAN PESOS (THCH$)
Assets | 09-30-2023 | 12-31-2022 |
ThCh$ | ThCh$ | |
Current assets | ||
Cash and cash equivalents | 23.810.338 | 28.027.244 |
Other financial assets, current | 4.474.014 | 5.209.107 |
Trade debtors and other accounts receivable, current | 22.252.339 | 27.848.939 |
Accounts receivable from related parties, current | 83.770 | 40.492 |
Inventories | 4.493.286 | 4.846.709 |
Current tax assets | 3.651.945 | 2.921.120 |
Total -current assets | 58.765.692 | 68.893.611 |
Non-current assets | ||
Other financial assets, no current | 2.263.509 | 2.134.582 |
Other assets, non-current | 104.127 | 1.652.576 |
Trade debtors and other accounts receivable, no current | 1.992.471 | 1.452.389 |
Intangible assets other than goodwill | 301.696.326 | 325.444.374 |
Goodwill | 1.303.379 | 1.303.379 |
Property, plant and equipment, net | 356.503.670 | 356.516.889 |
Assets for rights of use | 42.450.036 | 36.293.367 |
Non current tax assets | 2.691.330 | 6.660.394 |
Deferred tax assets | 87.250.263 | 77.767.855 |
Total non-current assets | 796.255.111 | 809.225.805 |
Total assets | 855.020.803 | 878.119.416 |
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AT SEPTEMBER 30 2023, 2022 AND DECEMBER 31, 2022
EXPRESSED IN THOUSANDS OF CHILEAN PESOS (THCH$)
Equity and liabilities | 09-30-2023 | 12-31-2022 |
ThCh$ | ThCh$ | |
Current Liabilities | ||
Other current financial liabilities | 9.478.764 | 16.925.581 |
Liabilities for leases, current | 5.206.655 | 11.054.469 |
Trade payables and other payables | 121.517.906 | 118.494.649 |
Accounts payable to related parties, current | 3.356.297 | 175.023 |
Current tax liability | 10.455.468 | 5.914.267 |
Current provisions for employee benefits | 976.759 | 2.775.115 |
Other current liabilities | 16.024.838 | 14.177.058 |
Total non-current liabilities | 167.016.687 | 169.516.162 |
Non-current liabilities | ||
Other financial liabilities, non-current | 248.181.897 | 223.255.160 |
Liabilities for leases, no current | 18.088.214 | 11.231.069 |
Trade payables and other payables | 274.436.405 | 275.820.985 |
Accounts payable to related parties, no current | 22.049.294 | - |
Deferred tax liabilities | 47.271.048 | 51.361.427 |
Other current liabilities, non-current | 1.279.639 | - |
Total non-current liabilities | 611.306.497 | 561.668.641 |
Total liabilities | 778.323.184 | 731.184.803 |
Equity | ||
Issued capital | 466.769.811 | 466.769.811 |
Retained earnings | (407.566.743) | (338.348.921) |
Share premium | 16.540.527 | 16.540.527 |
Accumulated other comprehensive income | 8.322.918 | 6.332.627 |
Equity attributable to owners of the parent | 84.066.513 | 151.294.044 |
Non-controlling interests | (7.368.894) | (4.359.431) |
Equity | 76.697.619 | 146.934.613 |
Equity and liabilities | 855.020.803 | 878.119.416 |
STATEMENTS OF INCOME AND STATEMENTS OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED SEPTEMBER 30, 2023 AND 2022
EXPRESSED IN THOUSANDS OF CHILEAN PESOS (THCH$) EXCEPT EARNINGS PER SHARE PRESENTED IN PESOS
Income Statements | 09-30-2023 | 09-30-2022 | |
ThCh$ | ThCh$ | ||
Revenue | 232.108.040 | 226.785.079 | |
Cost of sales | (197.335.618) | (177.454.185) | |
Gross margin | 34.772.422 | 49.330.894 | |
Administrative expenses | (36.220.687) | (31.312.069) | |
Other expenses | - | - | |
Other gains (losses) | (11.578.692) | (5.801.157) | |
Operating Margin | (13.026.957) | 12.217.668 | |
Finance income | 183.652 | 97.811 | |
Finance costs | (55.905.609) | (50.050.459) | |
Share of profit (loss) of associates | - | - | |
Foreign exchange gain/loss | (3.340.493) | (8.331.733) | |
Indexation for designated assets/liabilities for inflation | (9.888.248) | (26.904.529) | |
Income before tax | (81.977.655) | (72.971.242) | |
Income tax (expense) benefit | 10.412.783 | 22.021.641 | |
Net Income derived from continuous operations | (71.564.872) | (50.949.601) | |
Discontinued operations | 53.327 | (68.859) | |
Net Income | (71.511.545) | (51.018.460) | |
Net Income, attributable to: | |||
Net Income, attributable to owners of parent | (69.217.822) | (49.880.091) | |
Net Income, attributable to non-controlling interests | (2.293.723) | (1.138.369) | |
Net Income | (71.511.545) | (51.018.460) | |
Earnings per share (basic and diluted) | (1,32) | (0,95) | |
Statement of Comprehensive Income | 09-30-2023 | 09-30-2022 | |
ThCh$ | ThCh$ | ||
Net Income | (71.511.545) | (51.018.460) | |
Items that may be reclassified subsequently to profit or loss: | |||
Gain (loss) due to translation differences in subsidiaries | 1.990.291 | 7.182.468 | |
Total gain (loss) due to translation differences, before taxes | 1.990.291 | 7.182.468 | |
Other comprehensive income, , before taxes | 1.990.291 | 7.182.468 | |
Other comprehensive income for the year, net of income tax | 1.990.291 | 7.182.468 | |
Comprehensive income | (69.521.254) | (43.835.992) | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of the company | (67.227.531) | (42.697.623) | |
Comprehensive income attributable to non-controlling interests | (2.293.723) | (1.138.369) | |
Comprehensive income | (69.521.254) | (43.835.992) |
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE PERIOD ENDED SEPTEMBER 30, 2023 AND 2022
STATED IN THOUSANDS OF CHILEAN PESOS (THCH$)
Cash flow statements | 09-30-2023 | 09-30-2022 |
ThCh$ | ThCh$ | |
Cash flows from (used in) operating activities | ||
Collection from operating activities | ||
Receipts from the sale of goods and services | 276.208.568 | 269.874.244 |
Payments | ||
Payments to suppliers for goods and services | (110.404.388) | (124.126.022) |
Payments to and account of employees | (70.966.811) | (61.982.679) |
Other payments for operating activities | (103.175.498) | (90.135.826) |
Paid (reimbursed) income tax | 4.142.664 | (155.117) |
Cash flows from (used in) operating activities | (4.195.465) | (6.525.400) |
Cash flows from (used in) investing activities | ||
Cash flows from the sale of non-controlling interests | - | 1.809.396 |
Cash acquired in the acquisition of subsidiary | (18.922) | - |
Purchase of property, plant and equipment | (4.988.965) | (12.550.841) |
Purchase of Intangible assets | - | - |
Interest received | 183.652 | 97.811 |
Cash flows from (used in) investing activities | (4.824.235) | (10.643.634) |
Cash flows from (used in) financing activities | ||
Proceeds from short - term loans received | - | 3.017.470 |
Proceeds from short - term loans received | 24.701.191 | 14.111.871 |
Loans from related parties | 21.000.000 | - |
Repayments of loans received | (20.299.704) | (12.374.918) |
Payments of liabilities by lease | (3.284.123) | (7.823.028) |
Repayment of loans from related parties | (3.015.608) | - |
Interest paid | (14.085.022) | (9.642.737) |
Other cash inflows (outflows) | (362.982) | (5.919.511) |
Cash flows derived from (used in) financing activities | 3.938.012 | (18.630.853) |
Increase (decrease) in cash and cash equivalents | (5.081.688) | (35.799.887) |
Effects of exchange rate changes on the balance of cash held in foreign currencies | ||
Effects of exchange rate changes on the balance of cash held in foreign currencies | 864.782 | 1.694.698 |
Net increase (decrease) of cash and cash equivalents | (4.216.906) | (34.105.189) |
Cash and cash equivalents at the beginning of the year | 28.027.244 | 55.484.073 |
Cash and cash equivalents at the end of the year | 23.810.338 | 21.378.884 |
For the period ended, | ||
09-30-2023 | 09-30-2022 | |
(Ch$) | (Ch$) | |
(in million of Chilean Pesos ) | ||
Net income (loss) | (71.512) | (51.018) |
Income tax expense (benefit) | (10.413) | (22.022) |
(+) Net Finance costs | 55.722 | 49.952 |
(+) Depreciation expense | 14.151 | 13.960 |
(+) Amortization expense | 25.689 | 24.175 |
(+)(-) Foreign Exchange gain/loss | 3.340 | 8.332 |
(+)(-) Indexation for designated assets / liabilities for inflation | 9.888 | 26.905 |
(+) Other losses (-) other gains | 11.579 | 5.801 |
(+)(-) Gain (losses) of Discontinued operations | (53) | 69 |
EBITDA | 38.391 | 56.154 |
(+) Obsolescence loss on inventory | 50 | (104) |
(+) Provision for doubtful accounts | (812) | (1.665) |
Adjusted EBITDA | 37.629 | 54.385 |