AFP Habitat Reports Earnings Results for the First Quarter Ended March 2016
AFP Habitat reported earnings results for the first quarter ended March 2016. For the quarter, the company reported revenues of USD 61,480,000 against USD 56,435,000 a year ago. Operating income was USD 37,236,000 against USD 33,208,000 a year ago. Profit before taxes was USD 39,704,000 against USD 47,990,000 a year ago. Profit to Habitat was USD 30,698,000 against USD 36,634,000 a year ago. EBITDA was USD 40,788,000 against USD 48,447,000 a year ago. EBITDAE to Habitat was USD 39,778,000 against USD 35,283,000 a year ago. Operating revenues increased 8.9% in the first quarter of 2016 compared to the same period of 2015. Close to 70% of this variation responds to a larger income from fees in Chile, because of the 0.1% rise in the number of contributors as well as by the 2.3% increment in real terms of the average salary quoted by AFP Habitat. Non operating income for the first quarter of 2016 decreased by 83.3% when compared to the same period of 2015. This was mainly explained by the 92.3% reduction in the profitability of the encaje, in line with the investments of the pension funds managed by the company.