Entrega Final Modelo Financiero - SQM

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												Switch de circularidad (1: On / 0: Off)			0
			Modelación Financiera: modelo completo (3 estados financieros) de compañía SQM
			Andrés Berndt Benedetto		*	aiberndt@uc.cl
			Eitan Mordoh Reisz		*	emordoh@uc.cl
			María de los Ángeles González Irarrázaval		*	mdgonzalez5@uc.cl
			Sebastián López Quiroz		*	sflopez1@uc.cl
			Vicente García Casassus		*	vsgarcia@uc.cl
			This workbook contains formulas which intentionally use circular reference calculation. 
			These calculations can be resolved as intended by the originating analyst by changing the Circular Swithc to 1 and applying the following settings in the Tools >> Options >> Calculation dialog box:
			1) Select the Iteration check box
			2) Set Maximum Iterations = 100
			3) Set Maximum Change = 0.001
			Failure to apply these settings can result in incorrect calculation or unexpected termination of your Microsoft Excel session.
mailto:aiberndt@uc.clmailto:emordoh@uc.clmailto:mdgonzalez5@uc.clmailto:sflopez1@uc.clmailto:vsgarcia@uc.cl
Supuestos
		SQM	Hist.	Hist.	Hist.	Hist.	Hist.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.
		Supuestos	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
		Datos Macroeconomicos
	x
		Inflación EEUU (FMI)
: Fuente:
https://www.imf.org/external/datamapper/PCPIEPCH@WEO/OEMDC/ADVEC/WEOWORLD/HKG/USA
======	0.70%	2.20%	2.20%	1.90%	1.90%	0.80%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%
		Inflación Chile (Banco Central. IPoM)
: Datos pasados del IMF.
Proyección del Banco Central de Chile.
Fuente:
https://www.bcentral.cl/contenido/-/detalle/banco-central-publico-informe-de-politica-monetaria-ipom-de-marzo-de-2020#:~:text=Banco%20Central%20public%C3%B3%20Informe%20de,IPoM)%20de%20marzo%20de%202020&text=El%20Consejo%20del%20Banco%20Central,entre%203%25%20y%204%25.
======	4.48%	2.63%	2.01%	2.63%	2.94%	3.30%	3.20%	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%
		Diferencial Inflación EEUU y Chile	3.78%	0.43%	-0.19%	0.73%	1.04%	2.50%	0.80%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%
		Crecimiento Real sueldos						0.50%	0.50%	0.50%	0.50%	0.50%	0.50%	0.50%	0.50%	0.50%	0.50%
		World Economy Growth
: ======
ID#AAAAHE-oYyk
VGC (2020-10-10 01:35:42)
https://www.imf.org/en/Publications/WEO/Issues/2020/06/24/WEOUpdateJune2020
https://www.worldbank.org/en/publication/global-economic-prospects						-4.90%	5.40%	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%	3.00%
	x	Tasa libre de riesgo US
: ======
ID#AAAAHEiFRIA
 (2020-10-08 23:40:34)
Yield de un bono del tesoro de la FED a 10 años, dato del 31/12/19					1.92%
		Riesgo país (BPS)
: ======
ID#AAAAHEiFRH8
 (2020-10-08 23:40:34)
EMBI Chile en diciembre 2019, información del BC. Fuente: JP Morgan Chase.					135
		Premio por Riesgo
: ======
ID#AAAAHEiFRH4
 (2020-10-08 23:40:34)
Fuente: Damodaran
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/ctryprem.html					7.30%
		Income Statement
	x	Sales (Th USD)
: ======
ID#AAAAKTlA7dw
 (2020-09-23 19:22:32)
Nota 26.1		1,939,322.00	2,157,323.00	2,265,803.00	1,943,655.00	1,718,373.15	2,164,009.59	2,855,183.21	3,070,478.91	3,508,591.81	3,543,800.93	3,474,016.11	3,692,086.96	3,711,615.89	3,819,254.20
		Special Plant Nutrition (SPN)		623,853.00	697,251.00	781,751.00	723,920.00	722,084.22	798,607.16	850,075.79	904,769.15	962,881.18	1,024,616.76	1,059,699.64	1,095,983.75	1,133,510.23	1,172,321.62
		Iodine & Derivatives		231,144.00	252,123.00	324,972.00	371,020.00	378,202.95	359,292.80	341,946.14	332,481.07	330,127.11	331,190.12	339,079.07	347,155.93	355,425.18	363,891.41
		Lithium & Derivatives
: 
======		514,627.00	644,573.00	734,801.00	505,714.00	297,359.83	597,754.82	1,239,177.20	1,392,835.18	1,757,952.34	1,712,245.58	1,582,114.92	1,737,699.50	1,692,519.31	1,733,139.78
		Industrial Chemicals		104,137.00	135,578.00	108,267.00	94,875.00	98,503.02	105,891.87	111,686.27	117,797.74	124,243.64	131,042.25	138,212.88	145,775.89	153,752.74	162,166.09
		Potassium		403,323.00	379,326.00	267,474.00	212,151.00	186,047.94	261,679.73	267,960.05	274,391.09	280,976.47	287,719.91	294,625.19	301,696.19	308,936.90	316,351.38
		Others		62,238.00	48,472.00	48,538.00	35,975.00	36,175.18	40,783.22	44,337.76	48,204.68	52,411.07	56,986.32	60,284.43	63,775.70	67,471.52	71,383.91
		 - Services				4,017.00	3,410.00
		 - Ingresos arrendamiento de propiedades 				1,474.00	1,438.00
		 - Ingreso por subarrendamiento de activos por derecho de uso 				- 	261.00
		 - Commodities 				18,581.00	16,176.00
		 - Otros ingresos ordinarios oficinas comerciales 				24,466.00	14,690.00
	x	Cost of sales
: ======
ID#AAAAKTlA7ds
VGC (2020-09-23 19:22:32)
Nota 26.2		(1,328,285.00)	(1,394,822.00)	(1,485,631.00)	(1,383,603.00)	(1,328,761.60)	(1,620,129.31)	(1,895,669.16)	(2,009,301.24)	(2,244,855.71)	(2,371,094.66)	(2,479,241.73)	(2,719,401.93)	(2,670,080.31)	(2,761,351.35)
		Special Plant Nutrition (SPN)		(388,210.00)	(464,155.00)	(534,206.00)	(505,801.00)	(505,458.96)	(554,244.77)	(592,987.84)	(630,800.48)	(670,415.58)	(714,166.56)	(738,421.08)	(763,568.05)	(789,877.57)	(816,857.94)
		Iodine & Derivatives		(155,340.00)	(164,097.00)	(175,026.00)	(186,935.00)	(164,154.76)	(184,138.82)	(195,352.88)	(207,249.87)	(219,871.38)	(233,261.55)	(247,467.18)	(262,537.93)	(278,526.49)	(295,488.76)
		Lithium & Derivatives
: 
======		(142,606.00)	(155,104.00)	(274,592.00)	(260,807.00)	(211,742.20)	(308,473.54)	(479,378.70)	(493,760.06)	(626,845.62)	(645,650.99)	(665,020.52)	(814,210.97)	(838,637.30)	(863,796.42)
		Industrial Chemicals		(54,712.00)	(76,886.00)	(64,510.00)	(56,705.00)	(61,071.87)	(63,022.10)	(67,254.07)	(71,120.56)	(75,200.83)	(78,833.22)	(83,369.19)	(87,968.49)	(92,770.55)	(97,770.16)
		Potassium		(291,906.00)	(258,911.00)	(169,446.00)	(138,337.00)	(144,784.52)	(205,232.95)	(211,389.93)	(217,731.63)	(224,263.58)	(230,991.49)	(237,921.23)	(245,058.87)	(252,410.64)	(259,982.96)
		Others		(45,830.00)	(37,243.00)	(47,024.00)	(32,754.00)	(16,785.29)	(34,502.41)	(37,509.53)	(40,780.93)	(44,339.52)	(48,210.16)	(51,000.34)	(53,953.94)	(57,080.58)	(60,390.45)
		Depreciation expense		(246,471.00)	(235,505.00)	(214,451.00)	(197,162.00)	(219,662.00)	(265,412.73)	(306,694.21)	(342,755.70)	(378,817.20)	(414,878.69)	(450,940.19)	(487,001.68)	(355,675.17)	(361,962.67)
		Amortization expense 		(3,210.00)	(2,921.00)	(6,376.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)	(5,102.00)
	x	Cost of sales per kMT
		Special Plant Nutrition (SPN)		(401.99)	(428.68)	(512.86)	(476.12)	(469.93)	(484.96)	(499.51)	(514.50)	(529.93)	(545.83)	(562.20)	(579.07)	(596.44)	(614.34)
		Iodine & Derivatives		(12,322.56)	(12,118.98)	(13,680.54)	(15,881.94)	(13,946.54)	(14,392.82)	(14,824.61)	(15,269.35)	(15,727.43)	(16,199.25)	(16,685.23)	(17,185.79)	(17,701.36)	(18,232.40)
		Lithium & Derivatives
: 
======		(2,869.50)	(3,438.33)	(6,087.88)	(5,782.26)	(4,694.46)	(4,844.68)	(4,990.02)	(5,139.72)	(5,293.91)	(5,452.73)	(5,616.31)	(5,784.80)	(5,958.35)	(6,137.10)
		Industrial Chemicals		(326.47)	(565.99)(522.20)	(445.65)	(480.42)	(495.80)	(510.67)	(525.99)	(541.77)	(558.03)	(574.77)	(592.01)	(609.77)	(628.06)
		Potassium		(217.01)	(311.69)	(283.54)	(266.07)	(278.47)	(287.39)	(296.01)	(304.89)	(314.03)	(323.46)	(333.16)	(343.15)	(353.45)	(364.05)
	x	Cost of sales (as % of revenues)
: ======
ID#AAAAHEiFRKA
VGC (2020-09-23 19:22:32)
Nota 26.2
		Special Plant Nutrition (SPN)		62.2%	66.6%	68.3%	69.9%	70.0%
: ======
ID#AAAAKfG_KXc
Vicente Garcia Casassus (2020-10-10 22:13:41)
Márgenes del reporte 2Q 2020 de SQM	69.4%	69.8%	69.7%	69.6%	69.7%	69.7%	69.7%	69.7%	69.7%
		Iodine & Derivatives		67.2%	65.1%	53.9%	50.4%	42.0%	48.0%	51.0%	53.0%	53.5%	55.0%	55.0%	55.0%	55.0%	55.0%
		Lithium & Derivatives
: 
======		27.7%	24.1%	37.4%	51.6%	58.0%	57.0%	56.0%	55.0%	54.0%	53.0%	52.0%	51.0%	50.0%	49.0%
		Industrial Chemicals		52.5%	56.7%	59.6%	59.8%	62.0%	59.5%	60.2%	60.4%	60.5%	60.2%	60.3%	60.3%	60.3%	60.3%
		Potassium		72.4%	68.3%	63.4%	65.2%	71.5%	69.2%	66.9%	64.6%	62.3%	60.0%	60.0%	60.0%	60.0%	60.0%
		Others		73.6%	76.8%	96.9%	91.0%	46.4%	84.6%	84.6%	84.6%	84.6%	84.6%	84.6%	84.6%	84.6%	84.6%
	x	Other income 
: ======
ID#AAAAKTlA7dc
VGC (2020-09-23 19:22:32)
Nota 26.3	15,343.00	15,202.00	17,827.00	32,048.00	18,218.00	18,052.97	18,605.17	19,460.24	19,728.52	20,274.45	20,318.33	20,231.37	20,503.11	20,527.44	20,661.57
		Discounts obtained from suppliers 		771.00	345.00	705.00	676.00	713.29	712.60	711.22	711.22	711.22	711.22	711.22	711.22	711.22	711.22
		Fines charged to suppliers 		358.00	199.00	698.00	483.00	609.99	609.40	608.22	608.22	608.22	608.22	608.22	608.22	608.22	608.22
		Taxes recovered 		657.00	1,278.00	996.00	457.00	750.47	749.75	748.30	748.30	748.30	748.30	748.30	748.30	748.30	748.30
		Amounts recovered from insurance 		5,636.00	154.00	443.00	492.00	482.93	482.46	481.53	481.53	481.53	481.53	481.53	481.53	481.53	481.53
		Overestimate of provisions for third-party obligations 		573.00	586.00	375.00	983.00	650.02	649.39	648.13	648.13	648.13	648.13	648.13	648.13	648.13	648.13
		Other operating income 
: % de ventas.
======		219.00	4,543.00	1,536.00	2,422.00	2,141.27	2,696.59	3,557.86	3,826.14	4,372.08	4,415.95	4,328.99	4,600.73	4,625.07	4,759.20
		Options on mining claims 		2,577.00	2,607.00	16,095.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00	5,298.00
		Easements, pipelines and roads 		219.00	4,656.00	10,806.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00	7,204.00
		Reimbursement mining licenses and notary expenses 		1,300.00	1,196.00	394.00	203.00	203.00	203.00	203.00	203.00	203.00	203.00	203.00	203.00	203.00	203.00
	x	Administrative Expenses
: ======
ID#AAAAKTlA7dg
VGC (2020-09-23 19:22:32)
Nota 26.4	(86,830.00)	(88,436.00)	(101,171.00)	(118,126.00)	(117,180.00)	(119,822.02)	(125,837.22)	(132,984.89)	(137,881.49)	(144,015.82)	(148,271.29)	(152,138.09)	(157,580.04)	(162,175.88)	(167,360.06)
		Remuneration and benefits to employees 
: ======
ID#AAAAKbLU64E
EITAN MORDOH REISZ (2020-10-01 19:12:58)
Crecimiento real de 0,5%.		(47,217.00)	(51,761.00)	(63,880.00)	(60,255.00)	(62,544.69)	(64,858.84)	(67,128.90)	(69,478.41)	(71,910.16)	(74,427.01)	(77,031.96)	(79,728.08)	(82,518.56)	(85,406.71)
		Marketing costs 
: ======
ID#AAAAHE-oYy4
SEBASTIAN LOPEZ QUIROZ (2020-10-10 01:40:39)
Es un porcentaje de las ventas.		(1,338.00)	(2,539.00)	(3,078.00)	(3,911.00)	(3,457.69)	(4,354.39)	(5,745.17)	(6,178.38)	(7,059.95)	(7,130.80)	(6,990.37)	(7,429.17)	(7,468.47)	(7,685.06)
		Amortization expenses 
: ======
ID#AAAAKe-giDw
SEBASTIAN LOPEZ QUIROZ (2020-10-09 16:44:55)
Constante al último año. Muy poca variabilidad. Dato irrelevante.	
: Fuente:
https://www.imf.org/external/datamapper/PCPIEPCH@WEO/OEMDC/ADVEC/WEOWORLD/HKG/USA
======		(6.00)	(8.00)	(15.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)	(5.00)
		Entertainment expenses 
: ======
ID#AAAAHE-oYzY
SEBASTIAN LOPEZ QUIROZ (2020-10-10 01:51:05)
Como un % de las ventas.			(4,781.00)	(4,805.00)	(5,783.00)	(5,112.71)	(6,438.63)	(8,495.09)	(9,135.66)	(10,439.19)	(10,543.95)	(10,336.32)	(10,985.15)	(11,043.25)	(11,363.51)
		Advisory services 
: ======
ID#AAAAHE-oYzc
SEBASTIAN LOPEZ QUIROZ (2020-10-10 01:52:14)
La consultoria es necesaria. Supondremos que crece por lo menos junto con la inflación.		(1,322.00)	(14,348.00)	(12,848.00)	(13,862.00)	(14,319.45)	(14,777.67)	(15,221.00)	(15,677.63)	(16,147.96)	(16,632.40)	(17,131.37)	(17,645.31)	(18,174.67)	(18,719.91)
		Leases 			(4,097.00)	(4,556.00)	(3,653.00)	(3,773.55)	(3,894.30)	(4,011.13)	(4,131.47)	(4,255.41)	(4,383.07)	(4,514.56)	(4,650.00)	(4,789.50)	(4,933.19)
		Insurance 			(1,767.00)	(1,758.00)	(2,553.00)	(2,637.25)	(2,721.64)	(2,803.29)	(2,887.39)	(2,974.01)	(3,063.23)	(3,155.13)	(3,249.78)	(3,347.28)	(3,447.69)
		Office expenses 			(5,357.00)	(8,165.00)	(7,327.00)	(7,568.79)	(7,810.99)	(8,045.32)	(8,286.68)	(8,535.28)	(8,791.34)	(9,055.08)	(9,326.73)	(9,606.54)	(9,894.73)
		Contractors 			(4,805.00)	(5,730.00)	(4,874.00)	(5,034.84)	(5,195.96)	(5,351.84)	(5,512.39)	(5,677.76)	(5,848.10)	(6,023.54)	(6,204.24)	(6,390.37)	(6,582.08)
		Audit fees		(1,768.00)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Rent buildings and facilities		(494.00)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Depreciation of Right-of-use Assets (contracts under IFRS 16) 
: ======
ID#AAAAKe-giDM
SEBASTIAN LOPEZ QUIROZ (2020-10-09 16:33:08)
Constante al último año. 2018 y 2019 no hay cambios.				(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)	(2,501.00)
		Advertising expenses		(173.00)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Other expenses, by nature 
: ======
ID#AAAAHE-oYy0
SEBASTIAN LOPEZ QUIROZ (2020-10-10 01:39:27)
Crece de acuerdo a la inflación. Lo puse con inflación de Chile, podria ser debatible si usar la de USA.		(36,118.00)	(11,708.00)	(13,291.00)	(12,456.00)	(12,867.05)	(13,278.79)	(13,677.16)	(14,087.47)	(14,510.10)	(14,945.40)	(15,393.76)	(15,855.57)	(16,331.24)	(16,821.18)
	x	Other expenses by function 
: ======
ID#AAAAKTlA7dk
VGC (2020-09-23 19:22:32)
Nota 26.5	(113,603.00)	(89,731.00)	(61,638.00)	(36,907.00)	(25,995.00)	(26,729.86)	(31,800.22)	(32,519.90)	(33,058.95)	(33,714.20)	(34,336.49)	(35,001.86)	(35,672.66)	(36,368.68)	(37,080.71)
		Depreciation of assets not in use 		(111.00)	(90.00)	(59.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)
		Subtotal 	0.00	(111.00)	(90.00)	(59.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)	(136.00)
		Impairment losses (reversals of impairment losses) recognized in profit (loss) for the year 				 	 	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Property, plant and equipment 				(1,390.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)	(49.00)
		Intangible assets other than goodwill 				(1,736.00)	(913.00)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)	(1,324.50)
		Impairment of doubtful accounts		(7,198.00)	(8,038.00)			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Goodwill 				(3,254.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)	(140.00)
		Non-current assets and disowned groups held for sale 				0.00	(607.00)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Subtotal 		(7,198.00)	(8,038.00)	(6,380.00)	(1,709.00)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)	(1,513.50)
		Other expenses, by nature 				 	 	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Legal expenses 		(5,737.00)	(4,780.00)	(15,139.00)	(9,277.00)	(9,583.14)	(9,889.80)	(10,186.50)	(10,492.09)	(10,806.85)	(11,131.06)	(11,464.99)	(11,808.94)	(12,163.21)	(12,528.10)
		VAT and other unrecoverable taxes 		(1,015.00)	(1,295.00)	(1,187.00)(613.00)	(929.70)	(796.03)	(888.75)	(867.66)	(904.55)	(912.69)	(935.88)	(952.02)	(972.27)	(991.01)
		CORFO right		0.00	(20,396.00)			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Plant suspension expenses		(32,061.00)	0.00			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Fines paid 		(1,379.00)	(1,112.00)	(965.00)	(145.00)	(149.79)	(154.58)	(159.22)	(163.99)	(168.91)	(173.98)	(179.20)	(184.57)	(190.11)	(195.81)
		SEC and Department of Justice fines		(30,488.00)	0.00			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Advisory services		(59.00)	(75.00)			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Investment plan expenses 		(6,657.00)	(10,006.00)	(7,555.00)	(1,694.00)	(1,749.90)	(6,478.00)	(6,478.00)	(6,478.00)	(6,478.00)	(6,478.00)	(6,478.00)	(6,478.00)	(6,478.00)	(6,478.00)
		Indemnities paid		0.00	(421.00)			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Non-metallic exploration expenses 				(5,864.00)	(5,537.00)	(5,888.62)	(5,895.62)	(6,068.88)	(6,161.72)	(6,298.76)	(6,417.14)	(6,548.69)	(6,677.40)	(6,811.44)	(6,946.75)
		Provision for inventory of materials, spare parts and supplies		(815.00)	0.00			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Donations 		(1,692.00)	(5,527.00)	(4,502.00)	(5,026.00)	(4,921.21)	(5,078.69)	(5,231.05)	(5,387.98)	(5,549.62)	(5,716.11)	(5,887.59)	(6,064.22)	(6,246.15)	(6,433.53)
		Reorganization of related businesses 		0.00	(6,000.00)	6,000.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Other operating expenses 		(2,519.00)	(3,898.00)	(1,256.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)	(1,858.00)
		Subtotal 		(82,422.00)	(53,510.00)	(30,468.00)	(24,150.00)	(25,080.36)	(30,150.72)	(30,870.40)	(31,409.45)	(32,064.70)	(32,686.99)	(33,352.36)	(34,023.16)	(34,719.18)	(35,431.21)
	x	Impairment of gains and reversal of impairment losses (impairment losses) 
: ======
ID#AAAAKTlA7do
VGC (2020-09-23 19:22:32)
Nota 26.7			(8,038.00)	2,967.00	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)	(1,057.00)
	x	Other gain (losses)
: ======
ID#AAAAKTlA7d0
VGC (2020-09-23 19:22:32)
Nota 26.6	3,760.00	679.00	543.00	6,404.00	(383.00)	(223.00)	(223.00)	(223.00)	(223.00)	(223.00)	(223.00)	(223.00)	(223.00)	(223.00)	(223.00)
		Adjust previous year application method of participation 
: ======
ID#AAAAHE-oY0I
SEBASTIAN LOPEZ QUIROZ (2020-10-10 02:21:32)
Promedio ya que no es tanta diferencia entre años. Es un dato imposible de predecir.		(826.00)	501.00	(664.00)	(984.00)	(824.00)	(824.00)	(824.00)	(824.00)	(824.00)	(824.00)	(824.00)	(824.00)	(824.00)	(824.00)
		Impairment of interest in joint venture				(8,802.00)	631.00	631.00	631.00	631.00	631.00	631.00	631.00	631.00	631.00	631.00	631.00
		Sales of investments in associates
: ======
ID#AAAAHE-oYzw
SEBASTIAN LOPEZ QUIROZ (2020-10-10 02:06:43)
Constante al último año.		7,636.00	0.00	(759.00)	0.00	0	0	0	0	0	0	0	0	0	0
		Sales of investments in joint ventures
: ======
ID#AAAAHE-oYz0
SEBASTIAN LOPEZ QUIROZ (2020-10-10 02:06:51)
Constante al último año.				14,507.00	0.00	0	0	0	0	0	0	0	0	0	0
		Provision for staff severance indemnities		(6,300.00)	192.00			0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Others		169.00	(150.00)	2,122.00	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)	(30.00)
	x	Tasa de impuesto marginal (MTR)	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%
		Número de acciones (básicas)	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524
		Número de acciones (diluidas)	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524	263,196,524
		Deterioro de valor de activos financieros y reversión de pérdidas por deterioro de valor						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Politica de dividendos % de utilidad neta
: ======
ID#AAAAKP2oqFo
VGC (2020-09-13 23:41:46)
Página 145. Nota a los EEFF 20,4 Política de dividendos	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
		Neto entre reajuste y diferencias de cambio. Ajustado por diferencial inflación.						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Resultados de sociedades contabilizadas por método de participación. Constante al último año.	10,326.00	13,047.00	14,452.00	6,351.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00	9,786.00
		Balance
	x	Otros activos financieros. Creciente según Inflación.	636,325.00	289,189.00	366,979.00	312,721.00	505,490.00	425,517.93	435,730.36	446,187.89	456,896.39	467,861.91	479,090.59	490,588.77	502,362.90	514,419.61	526,765.68
		Otros activos no financieros como % de ventas totales	3.59%	1.56%	1.25%	2.12%	2.60%	2.22%	2.22%	2.22%	2.22%	2.22%	2.22%	2.22%	2.22%	2.22%	2.22%
		PPC. Promedio últimos 3 años.	63.83	69.40	75.61	75.17	74.96	75.24	75.24	75.24	75.24	75.24	75.24	75.24	75.24	75.24	75.24
		CxC a entidades relacionadas, corrientes. Constante al ultimo año.	99,907.00	82,259.00	59,132.00	42,790.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00	61,227.00
		PPPI. Promedio últimos 3 años.		336.06	284.73	263.67	303.82	284.07	284.07	284.07	284.07	284.07	284.07	284.07	284.07	284.07	284.07
		Activos por impuestos como % de las ventas totales	3.78%	2.66%	1.50%	2.52%	4.70%	3.03%	3.03%	3.03%	3.03%	3.03%	3.03%	3.03%	3.03%	3.03%	3.03%
		Activos no corrientes mantenidos para la venta. Constante al ultimo año.
: ======
ID#AAAAKTCdGb8
VGC (2020-09-22 18:00:14)
Land owned by Soquimich Comercial S.A	0.00	2,056.00	1,589.00	1,430.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00	2,454.00
		Otros activos financieros, no corrientes como % de ventas totales. Últimos 3 años.	0.03%	1.76%	0.76%	0.76%	0.45%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%
		Otros activos no financieros, no corrientes como % de ventas totales		1.27%	0.89%	1.22%	1.02%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%
		PPC no corriente. Promedio últimos 3 años.	0.22	0.35	0.32	0.37	0.32	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34
		Inversiones contabilizadas utilizando el método de la participación. Constante al último dato disponible	79,302.00	113,140.00	126,425.00	111,549.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00	109,435.00
		Activos Intangibles distintos de plusvalía. Disminuye con amortización	110,428.00	109,439.00	105,948.00	189,350.00	188,358.00	183,256.00	178,154.00	173,052.00	167,950.00	162,848.00	157,746.00	152,644.00	147,542.00	142,440.00	137,338.00
		Plusvalía (goodwill) - monto. Constante al último dato disponible	38,388.00	37,972.00	44,177.00	34,866.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00	34,726.00
		Activos por impuestos diferidos. Constante al último dato disponible	161.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00	32,179.00
		PPP. Promedio últimos 3 años.		67.85	61.95	47.26	63.58	57.60	57.60	57.60	57.60	57.60	57.60	57.60	57.60	57.60	57.60
		CxP a entidades relacionadas, corriente. Calculado según dias. Último dato del año.	435.00	7.00	1,365.00	9.00	475.00	475.00	475.00	475.00	475.00	475.00	475.00	475.00	475.00	475.00	475.00
		Otras provisiones, corrientes. Crece con inflación.
: ======
ID#AAAAKTCdGcM
VGC (2020-09-22 18:00:14)
Payment Obligations for the lease contract with CORFO	28,141.00	41,912.00	63,445.00	106,197.00	110,565.00	111,449.52	114,124.31	116,863.29	119,668.01	122,540.04	125,481.00	128,492.55	131,576.37	134,734.20	137,967.82Pasivos por impuestos diferidos. como % de las ventas.	3.01%	3.91%	3.50%	2.09%	0.92%	3.13%	3.13%	3.13%	3.13%	3.13%	3.13%	3.13%	3.13%	3.13%	3.13%
		Provisiones por beneficios a los empleados Crece con inflación chilena	13,445.00	20,998.00	22,421.00	20,085.00	16,387.00	16,927.77	17,469.46	17,993.54	18,533.35	19,089.35	19,662.03	20,251.89	20,859.45	21,485.23	22,129.79
		Otros pasivos no financieros. Corrientes. Crece con ventas.	69,966.00	61,920.00	168,804.00	194,624.00	126,899.00	112,190.61	141,285.70	186,411.63	200,468.04	229,071.93	231,370.69	226,814.52	241,052.11	242,327.13	249,354.72
		Otras provisiones, no corrientes. Constante al último año.	8,890.00	8,934.00	30,001.00	31,822.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00	34,690.00
		Pasivo por impuestos diferidos. No corriente. Constante al último año.	219,391.00	205,455.00	205,283.00	175,361.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00	183,411.00
		Provisiones no corrientes por beneficios a los empleados. Constante, con aumento de inflación chilena	21,995.00	22,532.00	33,932.00	37,064.00	35,840.00	37,022.72	38,207.45	39,353.67	40,534.28	41,750.31	43,002.82	44,292.90	45,621.69	46,990.34	48,400.05
		PP&E
	x	Capex de mantención
: ======
ID#AAAAKhIQXOI
SEBASTIAN LOPEZ QUIROZ (2020-10-14 18:13:16)
https://www.sqm.com/wp-content/uploads/2018/03/SQM-CorpPres_4Q17_final.pdf
El capex de mantenimiento historico de SQM es de $100 millones	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00
		Capex de expansión	11,315.00	31,251.00	42,144.00	144,693.00	221,324.00	250,000.00	265,014.64	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94
		Capex Total	111,315.00	131,251.00	142,144.00	244,693.00	321,324.00	350,000.00	365,014.64	260,614.94	260,614.94	260,614.94	260,614.94	260,614.94	260,614.94	260,614.94	260,614.94
		Th USD por TM de expansión
: ======
ID#AAAAKjwl8es
VGC (2020-10-21 02:26:26)
"The capital expenditure associated with this expansion is expected to be in the range of
approximately US$4,000 per ton". Annual report 2018				4.90	3.35	3.79	4.02	4.02	4.02	4.02	4.02	4.02	4.02	4.02	4.02
	x	Proyectos de expansión de Litio (TM) 				29,500.00	66,000.00	66,000.00	66,000.00	40,000.00	40,000.00	40,000.00	40,000.00	40,000.00	40,000.00	40,000.00	40,000.00
		Patrimonio
	x	Aumentos de capital	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Disminuciones de Capital	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Otras reservas. Constante al último dato	(19,797.00)	(12,888.00)	(14,349.00)	(14,999.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)	(14,223.00)
		Participaciones no controladoras Efectiva (%)	1.9%	1.3%	0.2%	0.5%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%
		Otros pasivos financieros corrientes
	x	Deuda Revolver					4.0%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%
		Derivados. Constante al último dato					18,045.00	18,045.00	18,045.00	18,045.00	18,045.00	18,045.00	18,045.00	18,045.00	18,045.00	18,045.00	18,045.00
		Otros pasivos financieros LP (deuda financiera y otros)					1,472,246.00	1,472,246.00	1,458,497.00	2,270,839.92	2,538,400.83	3,007,440.19	2,886,732.51	2,872,983.51	2,859,234.51	2,732,144.51	2,504,823.64
	x	Deuda Scotiabank					69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00
		Deuda MUS$250					248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$300					298,607.00	298,607.00	298,607.00	298,607.00	298,607.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$450 					444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	0.00
		Deuda H					129,364.00	129,364.00	115,615.00	101,866.00	88,117.00	74,368.00	60,619.00	46,870.00	33,121.00	19,372.00	5,623.00
		Deuda O					55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00
		Deuda P					113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	0.00	0.00
		Deuda Q					113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00
		Nueva Deuda						0.00	0.00	826,091.92	1,107,401.83	1,888,797.19	2,030,324.51	2,030,324.51	2,030,324.51	2,030,324.51	2,260,829.64
		Otros pasivos financieros LP (derivados), constante último año
: Debido a que las ganancias y pérdidas que fluyen en esta línea de pedido son difíciles de predecir, la apuesta más segura es asumir que no hay cambios año tras año en adelante
======					46,680.00	46,680.00	46,680.00	46,680.00	46,680.00	46,680.00	46,680.00	46,680.00	46,680.00	46,680.00	46,680.00
		Interés Deuda
	x	Deuda Scotiabank					3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%
		Deuda MUS$250					4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%
		Deuda MUS$300					3.43%	3.43%	3.43%	3.43%	3.43%	3.43%
		Deuda MUS$450 					4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%
		Deuda H					4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%
		Deuda O					3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%
		Deuda P					3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%
		Deuda Q					3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%
		Nueva Deuda
		Perfil de vencimiento de deuda
	x	Deuda Scotiabank						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$250
: ======
ID#AAAAKTCdGcA
VGC (2020-09-22 18:00:14)
Maturity date: 01-28-2025	
: Datos pasados del IMF.
Proyección del Banco Central de Chile.
Fuente:
https://www.bcentral.cl/contenido/-/detalle/banco-central-publico-informe-de-politica-monetaria-ipom-de-marzo-de-2020#:~:text=Banco%20Central%20public%C3%B3%20Informe%20de,IPoM)%20de%20marzo%20de%202020&text=El%20Consejo%20del%20Banco%20Central,entre%203%25%20y%204%25.
======	
: ======
ID#AAAAHE-oYzc
SEBASTIAN LOPEZ QUIROZ (2020-10-10 01:52:14)
La consultoria es necesaria. Supondremos que crece por lo menos junto con la inflación.						0.00	0.00	0.00	0.00	0.00	248,486.00	0.00	0.00	0.00	0.00
		Deuda MUS$300
: ======
ID#AAAAKTCdGcU
VGC (2020-09-22 18:00:14)
Maturity date: 04-03-2023						0.00	0.00	0.00	0.00	298,607.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$450 
: ======
ID#AAAAKTCdGcY
VGC (2020-09-22 18:00:14)
Maturity date: 05-07-2029						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	444,077.00
		Deuda H
: ======
ID#AAAAKTCdGcc
VGC (2020-09-22 18:00:14)
Maturity Date: 01-05-2030	
: ======
ID#AAAAHE-oYyk
VGC (2020-10-10 01:35:42)
https://www.imf.org/en/Publications/WEO/Issues/2020/06/24/WEOUpdateJune2020
https://www.worldbank.org/en/publication/global-economic-prospects						0.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00
		Deuda O
: ======
ID#AAAAKTCdGco
VGC (2020-09-22 18:00:14)
02-01-2033						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda P
: ======
ID#AAAAKTCdGck
VGC (2020-09-22 18:00:14)
01-15-2028	
: ======
ID#AAAAHEiFRIA
 (2020-10-08 23:40:34)
Yield de un bono del tesoro de la FED a 10 años, dato del 31/12/19						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	113,341.00	0.00
		Deuda Q
: ======
ID#AAAAKTCdGcE
VGC (2020-09-22 18:00:14)
06-01-2038	
: ======
ID#AAAAHEiFRH8
 (2020-10-08 23:40:34)
EMBI Chile en diciembre 2019, información del BC. Fuente: JP Morgan Chase.	
: ======
ID#AAAAHEiFRH4
 (2020-10-08 23:40:34)
Fuente: Damodaran
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/ctryprem.html	
: ======
ID#AAAAKe-giDM
SEBASTIAN LOPEZ QUIROZ (2020-10-09 16:33:08)
Constante al último año. 2018 y 2019 no hay cambios.: ======
ID#AAAAHE-oYy0
SEBASTIAN LOPEZ QUIROZ (2020-10-10 01:39:27)
Crece de acuerdo a la inflación. Lo puse con inflación de Chile, podria ser debatible si usar la de USA.	
: ======
ID#AAAAKTlA7dw
 (2020-09-23 19:22:32)
Nota 26.1	
: ======
ID#AAAAKTlA7dk
VGC (2020-09-23 19:22:32)
Nota 26.5	
: ======
ID#AAAAKTCdGcM
VGC (2020-09-22 18:00:14)
Payment Obligations for the lease contract with CORFO						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Target Ratio Deuda / EBITDA 	3.6	1.5	1.2	1.5	2.3	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0
	x	Caja disponible para pagar deuda y distribuir capital
		Caja mínima operativa fija (USD)						343,674.63	432,801.92	571,036.64	614,095.78	701,718.36	708,760.19	694,803.22	738,417.39	742,323.18	763,850.84
	x	Ingresos por intereses
: ======
ID#AAAAKhLh7TU
María de los Ángeles González Irarrazával (2020-10-14 23:50:46)
Sacado como el promedio de las rentabilidades históricas	
: 
======	
: ======
ID#AAAAKhIQXOI
SEBASTIAN LOPEZ QUIROZ (2020-10-14 18:13:16)
https://www.sqm.com/wp-content/uploads/2018/03/SQM-CorpPres_4Q17_final.pdf
El capex de mantenimiento historico de SQM es de $100 millones	
: ======
ID#AAAAKTlA7ds
VGC (2020-09-23 19:22:32)
Nota 26.2	
: ======
ID#AAAAKjwl8es
VGC (2020-10-21 02:26:26)
"The capital expenditure associated with this expansion is expected to be in the range of
approximately US$4,000 per ton". Annual report 2018	
: 
======	
: 
======	
: ======
ID#AAAAKTlA7do
VGC (2020-09-23 19:22:32)
Nota 26.7	
: ======
ID#AAAAHEiFRKA
VGC (2020-09-23 19:22:32)
Nota 26.2	
: ======
ID#AAAAKTlA7d0
VGC (2020-09-23 19:22:32)
Nota 26.6	
: ======
ID#AAAAHE-oY0I
SEBASTIAN LOPEZ QUIROZ (2020-10-10 02:21:32)
Promedio ya que no es tanta diferencia entre años. Es un dato imposible de predecir.	
: 
======	
: ======
ID#AAAAHE-oYzw
SEBASTIAN LOPEZ QUIROZ (2020-10-10 02:06:43)
Constante al último año.	
: ======
ID#AAAAHE-oYz0
SEBASTIAN LOPEZ QUIROZ (2020-10-10 02:06:51)
Constante al último año.						
: ======
ID#AAAAKfG_KXc
Vicente Garcia Casassus (2020-10-10 22:13:41)
Márgenes del reporte 2Q 2020 de SQM	
: ======
ID#AAAAKTlA7dc
VGC (2020-09-23 19:22:32)
Nota 26.3	
: Debido a que las ganancias y pérdidas que fluyen en esta línea de pedido son difíciles de predecir, la apuesta más segura es asumir que no hay cambios año tras año en adelante
======	
: ======
ID#AAAAKP2oqFo
VGC (2020-09-13 23:41:46)
Página 145. Nota a los EEFF 20,4 Política de dividendos	
: % de ventas.
======	2.19%	1.97%	2.14%	4.05%	4.47%	2.96%	2.96%	2.96%	2.96%	2.96%	2.96%	2.96%	2.96%	2.96%	2.96%
		 
Ventas
		SQM	Hist.	Hist.	Hist.	Hist.	Hist.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.
		Ventas	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
		Sales (Th USD)		1,939,322.0	2,157,323.0	2,265,803.0	1,943,655.0	1,718,373.1	2,164,009.6	2,855,183.2	3,070,478.9	3,508,591.8	3,543,800.9	3,474,016.1	3,692,087.0	3,711,615.9	3,819,254.2
		Special Plant Nutrition (SPN)		623,853.0	697,251.0	781,751.0	723,920.0	722,084.2	798,607.2	850,075.8	904,769.2	962,881.2	1,024,616.8	1,059,699.6	1,095,983.8	1,133,510.2	1,172,321.6
		Iodine & Derivatives		231,144.0	252,123.0	324,972.0	371,020.0	378,202.9	359,292.8	341,946.1	332,481.1	330,127.1	331,190.1	339,079.1	347,155.9	355,425.2	363,891.4
		Lithium & Derivatives		514,627.0	644,573.0	734,801.0	505,714.0	297,359.8	597,754.8	1,239,177.2	1,392,835.2	1,757,952.3	1,712,245.6	1,582,114.9	1,737,699.5	1,692,519.3	1,733,139.8
		Industrial Chemicals		104,137.0	135,578.0	108,267.0	94,875.0	98,503.0	105,891.9	111,686.3	117,797.7	124,243.6	131,042.2	138,212.9	145,775.9	153,752.7	162,166.1
		Potassium		403,323.0	379,326.0	267,474.0	212,151.0	186,047.9	261,679.7	267,960.0	274,391.1	280,976.5	287,719.9	294,625.2	301,696.2	308,936.9	316,351.4
		Others		62,238.0	48,472.0	48,538.0	35,975.0	36,175.2	40,783.2	44,337.8	48,204.7	52,411.1	56,986.3	60,284.4	63,775.7	67,471.5	71,383.9
		Sales (average price USD/ton)
		Special Plant Nutrition (SPN)			722.0	722.0	695.0	679.7	723.2	740.6	758.3	776.5	795.2	814.3	833.8	853.8	874.3
		Iodine & Derivatives			20,000.0	24,000.0	29,000.0	32,132.0	28,083.4	25,949.0	24,495.9	23,614.0	23,000.1	22,862.1	22,724.9	22,588.5	22,453.0
		Lithium & Derivatives			12,970.0	16,289.0	11,212.0	6,592.7	9,387.9	12,899.0	14,498.5	14,846.5	14,460.5	13,361.5	12,346.0	12,025.0	12,313.6
		Industrial Chemicals			809.0	797.0	768.0	774.1	792.7	811.7	831.2	851.2	871.6	892.5	913.9	935.9	958.3
		Potassium			282.0	322.0	355.0	357.8	366.4	375.2	384.2	393.4	402.9	412.6	422.5	432.6	443.0
		Sales (kMT)
		Special Plant Nutrition (SPN)			965.7	1,082.8	1,041.6	1,062.3	1,104.3	1,147.9	1,193.1	1,240.0	1,288.5	1,301.4	1,314.4	1,327.6	1,340.9
		Iodine & Derivatives			12.6	13.5	12.8	11.8	12.8	13.2	13.6	14.0	14.4	14.8	15.3	15.7	16.2
		Lithium & Derivatives			49.7	45.1	45.1	45.1	63.7	96.1	96.1	118.4	118.4	118.4	140.7	140.7	140.7
		Industrial Chemicals			167.6	135.8	123.5	127.2	133.6	137.6	141.7	146.0	150.3	154.9	159.5	164.3	169.2
		Potassium			1,345.1	830.7	597.6	519.9	714.1	714.1	714.1	714.1	714.1	714.1	714.1	714.1	714.1
		Special Plant Nutrition (Th USD)
	P	IPC (EEUU): aumento / (disminución) (%)			2.20%	1.90%	1.90%	0.80%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%
		Crecimiento precio sobre / (bajo) IPC (%)						(3.0%)	4.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
		Crecimiento precio (aditivo) (%)						(2.2%)	6.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%
	Q	Crecimiento del mercado (%)						3.0%	5.0%	5.0%	5.0%	5.0%	5.0%
		Participación de mercado (%)				54.0%	51.0%	50.5%	50.0%	49.5%	49.0%	48.5%	48.0%
		 Crecimiento / (disminución) participación de mercado (%)					(5.6%)	(1.0%)	(1.0%)	(1.0%)	(1.0%)	(1.0%)	(1.0%)
		Crecimiento volumen de ventas (%)				12.1%	-3.8%	2.0%	4.0%	4.0%	3.9%	3.9%	3.9%	1.0%	1.0%	1.0%	1.0%
	PxQ	Crecimiento volumen de ventas SPN (%)						(0.3%)	10.6%	6.4%	6.4%	6.4%	6.4%	3.4%	3.4%	3.4%	3.4%
		Iodine & Derivatives
	P	IPC (EEUU): aumento / (disminución) (%)			2.20%	1.90%	1.90%	0.80%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%
		Crecimiento precio sobre / (bajo) IPC (%)						10.0%	(15.0%)	(10.0%)	(8.0%)	(6.0%)	(5.0%)	(3.0%)	(3.0%)	(3.0%)	(3.0%)
		Crecimiento precio (aditivo) (%)						10.8%	(12.6%)	(7.6%)	(5.6%)	(3.6%)	(2.6%)	(0.6%)	(0.6%)	(0.6%)	(0.6%)
	Q	Crecimiento del mercado (%)
: ======
ID#AAAAJ47TI-o
VGC (2020-09-06 15:13:43)
Crecimiento de mercado = crecimiento economía mundial. Buscar fuentes. El 3% que puse es una estimación						(8.0%)	2.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%
		Participación de mercado (%)					34.0%	34.0%	34.0%	34.0%	34.0%	34.0%	34.0%	34.0%	34.0%	34.0%	34.0%
		 Crecimiento / (disminución) participación de mercado (%)						0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
		Crecimiento volumen de ventas (%)				0.0%	(28.1%)	(8.0%)	2.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%
	P	Potassium
		IPC (EEUU): aumento / (disminución) (%)			2.20%	1.90%	1.90%	0.80%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%
		Crecimiento precio sobre / (bajo) IPC (%)						0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
		Crecimiento precio (aditivo) (%)					19.4%	0.8%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%
	Q	Crecimiento volumen deventas (%)				-38.2%	-28.1%	(13.0%)	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
		Others					35,975.0	36,175.2	40,783.2	44,337.8	48,204.7	52,411.1	56,986.3	60,284.4	63,775.7	67,471.5	71,383.9
		 - Services					3,410.0	3,428.6	3,882.9	4,232.4	4,612.8	5,026.9	5,477.5	5,801.1	6,143.7	6,506.5	6,890.8
		 - Ingresos arrendamiento de propiedades 					1,438.0	1,449.5	1,484.3	1,519.9	1,556.4	1,593.7	1,632.0	1,671.2	1,711.3	1,752.3	1,794.4
		 - Ingreso por subarrendamiento de activos por derecho de uso 					261.0	263.1	269.4	275.9	282.5	289.3	296.2	303.3	310.6	318.1	325.7
		 - Commodities 					16,176.0	16,264.1	18,419.3	20,077.0	21,881.6	23,845.9	25,983.8	27,518.4	29,143.7	30,865.0	32,687.9
		 - Otros ingresos ordinarios oficinas comerciales 					14,690.0	14,770.0	16,727.3	18,232.6	19,871.4	21,655.3	23,596.8	24,990.5	26,466.4	28,029.6	29,685.1
	P	IPC (EEUU): aumento / (disminución) (%)			2.20%	1.90%	1.90%	0.8%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%
		Lithium & Derivatives
		IPC (EEUU): aumento / (disminución) (%)			2.20%	1.90%	1.90%	0.80%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%
		Crecimiento precio sobre / (bajo) IPC (%)						(42.0%)	40.0%	35.0%	10.0%	0.0%	(5.0%)	(10.0%)	(10.0%)	(5.0%)	0.0%
		Crecimiento precio (aditivo) (%)					-31.2%	(41.2%)	42.4%	37.4%	12.4%	2.4%	(2.6%)	(7.6%)	(7.6%)	(2.6%)	2.4%
		Venta Litio (K MT)			49.7	45.1	45.1	45.1	63.7	96.1	96.1	118.4	118.4	118.4	140.7	140.7	140.7
		Lithium plant capacity (K MT)
: ======
ID#AAAAKW7g3ZE
VGC (2020-10-22 02:37:09)
Detalles en roadshow 2019	
: ======
ID#AAAAJ47TI-o
VGC (2020-09-06 15:13:43)
Crecimiento de mercado = crecimiento economía mundial. Buscar fuentes. El 3% que puse es una estimación			83.5	83.5	83.5	83.5	114	172	172	212	212	212	252	252	252
		Efficiency			59.5%	54.0%	54.0%	54.0%	55.9%	55.9%	55.9%	55.9%	55.9%	55.9%	55.9%	55.9%	55.9%
		Industrial Chemicals
		IPC (EEUU): aumento / (disminución) (%)			2.20%	1.90%	1.90%	0.80%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%	2.40%
		Crecimiento precio sobre / (bajo) IPC (%)						0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
		Crecimiento precio (aditivo) (%)						0.8%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%	2.4%
		Crecimiento población (%)						3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%
		Participación de mercado (%)					30.0%	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
		 Crecimiento / (disminución) participación de mercado (%)						0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
		Crecimiento volumen de ventas (%)						3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%
		Crecimiento ventas en Industrial Chemicals (%)						3.8%	5.5%	5.5%	5.5%	5.5%	5.5%	5.5%	5.5%	5.5%	5.5%
		Ventas en Industrial Chemicals (Th USD)					94,875.0	98,503.02	103,893.11	109,578.14	115,574.25	121,898.47	128,568.76	135,604.04	143,024.29	150,850.58	159,105.13
&F &A		
© Adkins Matchett && Toy 2012		Page &P of
Cálculos
		SQM	Hist.	Hist.	Hist.	Hist.	Hist.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.
		Cálculos ($Th USD)	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
	x	PP&E
		Balance inicial						1,607,070.00	1,737,408.00	1,837,009.91	1,790,930.64	1,708,789.87	1,590,587.60	1,436,323.85	1,245,998.60	1,019,611.86	924,551.62
		Capex mantención						100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00
		Capex expansión						250,000.00	265,014.64	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94
		Depreciación
: ======
ID#AAAAG5fFbrE
VGC (2020-09-06 21:27:49)
IR djo que D&A estaba cerca de los USD 220MM						(219,662.00)	(265,412.73)	(306,694.21)	(342,755.70)	(378,817.20)	(414,878.69)	(450,940.19)	(487,001.68)	(355,675.17)	(361,962.67)
		Balance final						1,737,408.00	1,837,009.91	1,790,930.64	1,708,789.87	1,590,587.60	1,436,323.85	1,245,998.60	1,019,611.86	924,551.62	823,203.89
	x	PP&E Existente
		PP&E Bruto					4,795,717.0
: ======
ID#AAAAG5fFbrI
VGC (2020-09-06 21:27:49)
EEFF, página 122. "Propiedades, plantas y equipos, bruto"	5,045,717.00	5,310,731.64	5,471,346.58	5,631,961.52	5,792,576.45	5,953,191.39	6,113,806.32	6,274,421.26	6,435,036.19	6,595,651.13
		Depreciacion Acumulada					(3,188,647.0)	(3,385,809.00)	(3,582,971.00)	(3,780,133.00)	(3,977,295.00)	(4,174,457.00)	(4,371,619.00)	(4,568,781.00)	(4,765,943.00)	(4,795,717.00)	(4,795,717.00)
		PP&E Neto					1,607,070.0	1,659,908.00	1,727,760.64	1,691,213.58	1,654,666.52	1,618,119.45	1,581,572.39	1,545,025.32	1,508,478.26	1,639,319.19	1,799,934.13
		Años de vida util restantes	8
		Balance inicial						1,607,070.00	1,409,908.00	1,212,746.00	1,015,584.00	818,422.00	621,260.00	424,098.00	226,936.00	29,774.00	0.00
		Depreciacion					(197,162.00)	(197,162.00)	(197,162.00)	(197,162.00)	(197,162.00)	(197,162.00)	(197,162.00)	(197,162.00)	(197,162.00)	(29,774.00)	0.00
		Balance final					1,607,070.00	1,409,908.00	1,212,746.00	1,015,584.00	818,422.00	621,260.00	424,098.00	226,936.00	29,774.00	0.00	0.00
	x	PP&E Mantención
		Balance inicial						0.00	90,000.00	160,000.00	210,000.00	240,000.00	250,000.00	240,000.00	210,000.00	160,000.00	90,000.00
		Capex Mantención						100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00
		Depreciacion del Capex						(10,000.00)	(30,000.00)	(50,000.00)	(70,000.00)	(90,000.00)	(110,000.00)	(130,000.00)	(150,000.00)	(170,000.00)	(190,000.00)
		Balance final					0.00	90,000.00	160,000.00	210,000.00	240,000.00	250,000.00	240,000.00	210,000.00	160,000.00	90,000.00	0.00
		Años de vida util
: promedio de los años de vida útiles del PP&E de la memoria del 2019.
======	5
						Año	Capex
						2020	100,000.00	10,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00
						2021	100,000.00		10,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00
						2022	100,000.00			10,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00
						2023	100,000.00				10,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00
						2024	100,000.00					10,000.00	20,000.00	20,000.00	20,000.00	20,000.00	20,000.00
						2025	100,000.00						10,000.00	20,000.00	20,000.00	20,000.00	20,000.00
						2026	100,000.00							10,000.00	20,000.00	20,000.00	20,000.00
						2027	100,000.00								10,000.00	20,000.00	20,000.00
						2028	100,000.00									10,000.00	20,000.00
						2029	100,000.00										10,000.00
	x							10,000.00	30,000.00	50,000.00	70,000.00	90,000.00	110,000.00	130,000.00	150,000.00	170,000.00	190,000.00
		Incorporación expansión Li2CO, LIHO & water pipeline
		Balance inicial						0.00	237,500.00	464,263.91	565,346.64	650,367.87	719,327.60	772,225.85	809,062.60	829,837.86	834,551.62
		 Capex Expansión						250,000.00	265,014.64	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94	160,614.94
		Depreciacion						(12,500.00)	(38,250.73)	(59,532.21)	(75,593.70)	(91,655.20)	(107,716.69)	(123,778.19)	(139,839.68)	(155,901.17)	(171,962.67)
		Balance final					0.00	237,500.00	464,263.91	565,346.64	650,367.87	719,327.60772,225.85	809,062.60	829,837.86	834,551.62	823,203.89
		Años de vida util
: El proyecto tiene una vida promedio de 40 años.
======	
: ======
ID#AAAAG5fFbrE
VGC (2020-09-06 21:27:49)
IR djo que D&A estaba cerca de los USD 220MM	
: promedio de los años de vida útiles del PP&E de la memoria del 2019.
======	10
						Año	Capex
						0	250,000.00	12,500.00	25,000.00	25,000.00	25,000.00	25,000.00	25,000.00	25,000.00	25,000.00	25,000.00	25,000.00
						0	265,014.64		13,250.73	26,501.46	26,501.46	26,501.46	26,501.46	26,501.46	26,501.46	26,501.46	26,501.46
						0	160,614.94			8,030.75	16,061.49	16,061.49	16,061.49	16,061.49	16,061.49	16,061.49	16,061.49
						0	160,614.94				8,030.75	16,061.49	16,061.49	16,061.49	16,061.49	16,061.49	16,061.49
						0	160,614.94					8,030.75	16,061.49	16,061.49	16,061.49	16,061.49	16,061.49
						0	160,614.94						8,030.75	16,061.49	16,061.49	16,061.49	16,061.49
						0	160,614.94							8,030.75	16,061.49	16,061.49	16,061.49
						0	160,614.94								8,030.75	16,061.49	16,061.49
						0	160,614.94									8,030.75	16,061.49
						0	160,614.94										8,030.75
	x	Depreciación Total Capex Expansión						12,500.00	38,250.73	59,532.21	75,593.70	91,655.20	107,716.69	123,778.19	139,839.68	155,901.17	171,962.67
	x	Capital de trabajo
		Deudores comerciales y otras cuentas por cobrar	302,225	368,761	446,875	466,619	399,142	354,237	446,103	588,586	632,968	723,284	730,542	716,156	761,111	765,137	787,326
		Cuentas por cobrar a entidades relacionadas corrientes	99,907	82,259	59,132	42,790	61,227	61,227	61,227	61,227	61,227	61,227	61,227	61,227	61,227	61,227	61,227
		Inventarios corrientes	1,003,846	993,072	902,074	913,674	983,338	859,223	1,050,383	1,232,702	1,293,074	1,448,336	1,518,520	1,574,623	1,733,469	1,797,292	1,863,434
		Total activos operacionales corrientes	1,405,978	1,444,092	1,408,081	1,423,083	1,443,707	1,274,687	1,557,713	1,882,515	1,987,269	2,232,847	2,310,289	2,352,006	2,555,807	2,623,656	2,711,986
		Cuentas por pagar comerciales y otras cuentas por pagar corrientes	136,840	200,496	196,280	163,751	205,790	174,212	212,970	249,936	262,177	293,657	307,887	319,262	351,469	364,410	377,820
		Cuentas por pagar a entidades relacionadas corrientes	435	7	1,365	9	475	475	475	475	475	475	475	475	475	475	475
		Total pasivos operacionales corrientes	137,275	200,503	197,645	163,760	206,265	174,687	213,445	250,411	262,652	294,132	308,362	319,737	351,944	364,885	378,295
	x	Capital de trabajo total (OWC)	1,268,703	1,243,589	1,210,436	1,259,323.00	1,237,442.00	1,099,999.92	1,344,267.38	1,632,103.65	1,724,617.30	1,938,714.67	2,001,926.45	2,032,268.39	2,203,862.64	2,258,771.06	2,333,691.14
	x	Impuestos y perdidas tributarias
		EBT						270,675.64	414,411.01	823,032.50	919,528.76	1,115,843.54	1,019,979.82	837,428.80	809,498.43	873,081.47	883,686.65
		Perdidas tributarias BoP						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Uso perdidas tributarias						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Perdidas tributarias EoP					0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		EBT imponible						270,675.64	414,411.01	823,032.50	919,528.76	1,115,843.54	1,019,979.82	837,428.80	809,498.43	873,081.47	883,686.65
		Tasa de impuestos (%)						27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%	27.00%
		Impuestos						73,082.42	111,890.97	222,218.77	248,272.77	301,277.76	275,394.55	226,105.78	218,564.58	235,732.00	238,595.40
Balance
		SQM	Hist.	Hist.	Hist.	Hist.	Hist.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.
		En Miles de Dólares ($Th USD)	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
		ACTIVOS
	x	ACTIVOS CORRIENTES
		Efectivo y equivalentes al efectivo	$ 527,259	$ 514,669	$ 630,438	$ 556,066	$ 588,530	$ 473,895	$ 432,802	$ 1,016,787	$ 1,278,398	$ 1,661,522	$ 1,631,406	$ 1,774,351	$ 1,819,317	$ 1,731,076	$ 1,530,978
		Otros activos financieros corrientes	$ 636,325	$ 289,189	$ 366,979	$ 312,721	$ 505,490	$ 425,518	$ 435,730	$ 446,188	$ 456,896	$ 467,862	$ 479,091	$ 490,589	$ 502,363	$ 514,420	$ 526,766
		Otros activos no financieros corrientes	$ 62,006	$ 30,273	$ 26,883	$ 47,972	$ 50,552	$ 38,192	$ 48,097	$ 63,458	$ 68,244	$ 77,981	$ 78,763	$ 77,212	$ 82,059	$ 82,493	$ 84,886
		Deudores comerciales y otras cuentas por cobrar	$ 302,225	$ 368,761	$ 446,875	$ 466,619	$ 399,142	$ 354,237	$ 446,103	$ 588,586	$ 632,968	$ 723,284	$ 730,542	$ 716,156	$ 761,111	$ 765,137	$ 787,326
		Cuentas por cobrar a entidades relacionadas corrientes	$ 99,907	$ 82,259	$ 59,132	$ 42,790	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227	$ 61,227
		Inventarios corrientes	$ 1,003,846	$ 993,072	$ 902,074	$ 913,674	$ 983,338	$ 859,223	$ 1,050,383	$ 1,232,702	$ 1,293,074	$ 1,448,336	$ 1,518,520	$ 1,574,623	$ 1,733,469	$ 1,797,292	$ 1,863,434
		Activos por impuestos corrientes	$ 65,277	$ 51,632	$ 32,291	$ 57,110	$ 91,433	$ 52,104	$ 65,616	$ 86,573	$ 93,102	$ 106,386	$ 107,453	$ 105,337	$ 111,950	$ 112,542	$ 115,806
		Activos corrientes distintos de aquellos clasificados como mantenidos para la venta o disposición	$ -	$ 2,329,855	$ 2,464,672	$ 2,396,952	$ 2,679,712	$ 2,264,395	$ 2,539,958	$ 3,495,522	$ 3,883,908	$ 4,546,597	$ 4,607,002	$ 4,799,496	$ 5,071,496	$ 5,064,187	$ 4,970,422
		Activos no corrientes o grupos de activos para su disposición clasificados como mantenidos para la venta
: ======
ID#AAAAKTCdGcg
VGC (2020-09-22 18:00:14)
Land owned by Soquimich Comercial S.A	$ -	$ 2,056	$ 1,589	$ 1,430	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454	$ 2,454
		TOTAL ACTIVOS CORRIENTES	$ 2,696,845	$ 2,331,911	$ 2,466,261	$ 2,398,382	$ 2,682,166	$ 2,266,849	$ 2,542,412	$ 3,497,976	$ 3,886,362	$ 4,549,051	$ 4,609,456	$ 4,801,950	$ 5,073,950	$ 5,066,641	$ 4,972,876
	x	ACTIVOS NO CORRIENTES
		Otros activos financieros no corrientes	$ 486	$ 34,099	$ 62,879	$ 17,131	$ 8,778	$ 11,248	$ 14,165	$ 18,690	$ 20,099	$ 22,967	$ 23,197	$ 22,740	$ 24,168	$ 24,296	$ 25,000
		Otros activos no financieros no corrientes	$ 33,526	$ 24,690	$ 19,262	$ 27,539	$ 19,729	$ 18,887	$ 23,785	$ 31,382	$ 33,748	$ 38,563	$ 38,950	$ 38,183	$ 40,580	$ 40,795	$ 41,978
		Cuentas por cobrar no corrientes	$ 1,050	$ 1,840	$ 1,912	$ 2,275	$ 1,710	$ 1,587	$ 1,998	$ 2,636	$ 2,835	$ 3,240	$ 3,272	$ 3,208	$ 3,409	$ 3,427	$ 3,527
		Inversiones contabilizadas utilizando el método de la participación	$ 79,302	$ 113,140	$ 126,425	$ 111,549	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435	$ 109,435
		Activos intangibles distintos de la plusvalía	$ 110,428	$ 109,439	$ 105,948	$ 189,350	$ 188,358	$ 183,256	$ 178,154	$ 173,052	$167,950	$ 162,848	$ 157,746	$ 152,644	$ 147,542	$ 142,440	$ 137,338
		Plusvalía	$ 38,388	$ 37,972	$ 44,177	$ 34,866	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726	$ 34,726
		Propiedades, plantas y equipos	$ 1,683,576	$ 1,532,710	$ 1,437,193	$ 1,454,823	$ 1,607,070	$ 1,737,408	$ 1,837,010	$ 1,790,931	$ 1,708,790	$ 1,590,588	$ 1,436,324	$ 1,245,999	$ 1,019,612	$ 924,552	$ 823,204
		Activos por impuestos diferidos	$ 161	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179	$ 32,179
	x	TOTAL ACTIVOS NO CORRIENTES	$ 1,946,917	$ 1,886,069	$ 1,829,975	$ 1,869,712	$ 2,001,985	$ 2,128,726	$ 2,231,452	$ 2,193,030	$ 2,109,762	$ 1,994,546	$ 1,835,830	$ 1,639,114	$ 1,411,651	$ 1,311,849	$ 1,207,387
		TOTAL ACTIVOS	$ 4,643,762	$ 4,217,980	$ 4,296,236	$ 4,268,094	$ 4,684,151	$ 4,395,575	$ 4,773,864	$ 5,691,007	$ 5,996,125	$ 6,543,597	$ 6,445,286	$ 6,441,064	$ 6,485,601	$ 6,378,490	$ 6,180,262
		PATRIMONIO Y PASIVOS
	x	PASIVOS CORRIENTES
		Otros pasivos financieros corrientes (deuda)	$ 402,030	$ 160,243	$ 177,062	$ 15,445	$ 280,777	$ -	$ 3,323	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Otros pasivos financieros corrientes (derivados)		$ 18,901	$ 43,266	$ 8,140	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045	$ 18,045
		Cuentas por pagar comerciales y otras cuentas por pagar corrientes	$ 136,840	$ 200,496	$ 196,280	$ 163,751	$ 205,790	$ 174,212	$ 212,970	$ 249,936	$ 262,177	$ 293,657	$ 307,887	$ 319,262	$ 351,469	$ 364,410	$ 377,820
		Cuentas por pagar a entidades relacionadas corrientes	$ 435	$ 7	$ 1,365	$ 9	$ 475	$ 475	$ 475	$ 475	$ 475	$ 475	$ 475	$ 475	$ 475	$ 475	$ 475
		Otras provisiones corrientes
: ======
ID#AAAAKTCdGcQ
VGC (2020-09-22 18:00:14)
Payment Obligations for the lease contract with CORFO	$ 28,141	$ 41,912	$ 63,445	$ 106,197	$ 110,565	$ 111,450	$ 114,124	$ 116,863	$ 119,668	$ 122,540	$ 125,481	$ 128,493	$ 131,576	$ 134,734	$ 137,968
		Pasivos por impuestos corrientes	$ 52,070	$ 75,872	$ 75,402	$ 47,412	$ 17,874	$ 53,754	$ 67,694	$ 89,315	$ 96,050	$ 109,755	$ 110,856	$ 108,673	$ 115,495	$ 116,106	$ 119,473
		Provisiones por beneficios a los empleados corrientes	$ 13,445	$ 20,998	$ 22,421	$ 20,085	$ 16,387	$ 16,928	$ 17,469	$ 17,994	$ 18,533	$ 19,089	$ 19,662	$ 20,252	$ 20,859	$ 21,485	$ 22,130
		Otros pasivos no financieros corrientes	$ 69,966	$ 61,920	$ 168,804	$ 194,624	$ 126,899	$ 112,191	$ 141,286	$ 186,412	$ 200,468	$ 229,072	$ 231,371	$ 226,815	$ 241,052	$ 242,327	$ 249,355
	x	TOTAL PASIVOS CORRIENTES	$ 702,927	$ 580,349	$ 748,045	$ 555,663	$ 776,812	$ 487,053	$ 575,386	$ 679,040	$ 715,416	$ 792,633	$ 813,777	$ 822,015	$ 878,972	$ 897,582	$ 925,266
	x	PASIVOS NO CORRIENTES
		Otros pasivos financieros no corrientes (deuda)
: ======
ID#AAAAKTCdGcI
VGC (2020-09-22 18:00:14)
Ver notas a los eeff 14.4c y 14.4d	
: ======
ID#AAAAKTCdGcQ
VGC (2020-09-22 18:00:14)
Payment Obligations for the lease contract with CORFO	
: ======
ID#AAAAKTCdGcg
VGC (2020-09-22 18:00:14)
Land owned by Soquimich Comercial S.A	$ 1,290,203	$ 1,059,706	$ 1,031,507	$ 1,318,349	$ 1,472,246	$ 1,472,246	$ 1,458,497	$ 2,270,840	$ 2,538,401	$ 3,007,440	$ 2,886,733	$ 2,872,984	$ 2,859,235	$ 2,732,145	$ 2,504,824
		Otros pasivos financieros no corrientes (derivados)		$ 33,732	$ -	$ 12,033	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680	$ 46,680
		Otras provisiones no corrientes	$ 8,890	$ 8,934	$ 30,001	$ 31,822	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690	$ 34,690
		Pasivos por impuestos diferidos	$ 219,391	$ 205,455	$ 205,283	$ 175,361	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411	$ 183,411
		Provisiones por beneficios a los empleados no corrientes	$ 21,995	$ 22,532	$ 33,932	$ 37,064	$ 35,840	$ 37,023	$ 38,207	$ 39,354	$ 40,534	$ 41,750	$ 43,003	$ 44,293	$ 45,622	$ 46,990	$ 48,400
	x	TOTAL PASIVOS NO CORRIENTES	$ 1,540,479	$ 1,330,359	$ 1,300,723	$ 1,574,629	$ 1,772,867	$ 1,774,050	$ 1,761,485	$ 2,574,975	$ 2,843,716	$ 3,313,971	$ 3,194,516	$ 3,182,057	$ 3,169,637	$ 3,043,916	$ 2,818,005
	x	TOTAL PASIVOS	$ 2,243,406	$ 1,910,708	$ 2,048,768	$ 2,130,292	$ 2,549,679	$ 2,261,103	$ 2,336,872	$ 3,254,015	$ 3,559,133	$ 4,106,605	$ 4,008,294	$ 4,004,072	$ 4,048,609	$ 3,941,498	$ 3,743,270
	x	PATRIMONIO
		Capital emitido	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386	$ 477,386
		Ganancias (pérdidas) acumuladas	$ 1,882,196	$ 1,781,576	$ 1,724,784	$ 1,623,104	$ 1,623,104	$ 1,621,352	$ 1,921,190	$ 1,915,863	$ 1,909,911	$ 1,902,688	$ 1,896,086	$ 1,890,666	$ 1,885,426	$ 1,879,775	$ 1,874,056
		Otras reservas	-$19,797	-$12,888	-$14,349	-$14,999	-$14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223	-$ 14,223
		Patrimonio atribuible a los propietarios de la controladora	$ 2,339,785	$ 2,246,074	$ 2,187,821	$ 2,085,491	$ 2,086,267	$ 2,084,515	$ 2,384,353	$ 2,379,026	$ 2,373,074	$ 2,365,851	$ 2,359,249	$ 2,353,829	$ 2,348,589	$ 2,342,938	$ 2,337,219
		Participaciones no controladoras	$ 60,571	$ 61,198	$ 59,647	$ 52,311	$ 48,205	$ 49,957	$ 52,639	$ 57,967	$ 63,918	$ 71,141	$ 77,743	$ 83,163	$ 88,403	$ 94,054	$ 99,774
	x	TOTAL PATRIMONIO	$ 2,400,356	$ 2,307,272	$ 2,247,468	$ 2,137,802	$ 2,134,472	$ 2,134,472	$ 2,436,992	$ 2,436,992	$ 2,436,992	$ 2,436,992	$ 2,436,992	$ 2,436,992	$ 2,436,992	$ 2,436,992	$ 2,436,992
	x	TOTAL PATRIMONIO Y PASIVOS	$ 4,643,762	$ 4,217,980	$ 4,296,236	$ 4,268,094	$ 4,684,151	$ 4,395,575	$ 4,773,864	$ 5,691,007	$ 5,996,125	$ 6,543,597	$ 6,445,286	$ 6,441,064	$ 6,485,601	$ 6,378,490	$ 6,180,262
		Check	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deuda & Patrimonio
		SQM	Hist.	Hist.	Hist.	Hist.	Hist.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.	Proj.
		Deuda y Patrimonio ($Th USD)	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
	x	Caja inicial						588,530.00	473,894.92	432,801.92	1,016,787.32	1,278,397.57	1,661,521.85	1,631,405.67	1,774,351.38	1,819,317.45	1,731,076.04
		Caja mínima operativa						343,674.63	432,801.92	571,036.64	614,095.78701,718.36	708,760.19	694,803.22	738,417.39	742,323.18	763,850.84
		Flujo de caja disponible para pagar deuda						363,735.14	(30,666.76)	375,778.96	665,305.34	728,650.70	835,176.76	768,017.73	649,648.93	676,198.07	672,314.28
		Caja disponible después de pagos obligatorios						608,590.51	10,426.24	237,544.24	1,067,996.88	1,305,329.91	1,787,938.43	1,704,620.18	1,685,582.92	1,753,192.34	1,639,539.49
		Emision / (pagos) deuda revolver						(280,777.00)	3,322.76	(3,322.76)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Emiión / (pago) Nueva deuda						0.00	0.00	826,091.92	281,309.91	781,395.36	141,527.32	0.00	0.00	0.00	230,505.13
		Caja disponible para pagar deuda, arriendos y distribuir capital						327,813.51	13,749.00	1,060,313.40	1,349,306.79	2,086,725.27	1,929,465.75	1,704,620.18	1,685,582.92	1,753,192.34	1,870,044.62
		Pagos obligatorios						0.00	(13,749.00)	812,342.92	267,560.91	469,039.36	(120,707.68)	(13,749.00)	(13,749.00)	(127,090.00)	(227,320.87)
		Caja disponible para distribuir dividendos y capital						327,813.51	13,749.00	1,060,313.40	1,349,306.79	2,086,725.27	1,929,465.75	1,704,620.18	1,685,582.92	1,753,192.34	1,870,044.62
		Distribucion de dividendos y capital						(197,593.22)	0.00	(600,813.72)	(671,256.00)	(814,565.78)	(744,585.27)	(611,323.02)	(590,933.86)	(637,349.48)	(645,091.25)
		Caja disponible para acelerar deuda						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
		Pagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Caja disponible después de pagos de deuda y dividendos						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
		Caja disponible para pago obligatorio Scotiabank						608,590.51	10,426.24	237,544.24	1,067,996.88	1,305,329.91	1,787,938.43	1,704,620.18	1,685,582.92	1,753,192.34	1,639,539.49
		Caja disponible para acelerar pago Scotiabank						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda Scotiabank
		Balance incial						69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00
		Tasa de interés					3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%	3.98%
		Gastos por intereses						2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69
		Caja disponible para pago obligatorio MUS$250						608,590.51	10,426.24	237,544.24	1,067,996.88	1,305,329.91	1,787,938.43	1,704,620.18	1,685,582.92	1,753,192.34	1,639,539.49
		Caja disponible para acelerar pago MUS$250						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda MUS$250
		Balance incial						248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	0.00	0.00	0.00	0.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	0.00	248,486.00	0.00	0.00	0.00	0.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	0.00	0.00	0.00	0.00	0.00
		Tasa de interés					4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%	4.08%
		Gastos por intereses						10,138.23	10,138.23	10,138.23	10,138.23	10,138.23	5,069.11	0.00	0.00	0.00	0.00
		Caja disponible para pago obligatorio MUS$300						608,590.51	10,426.24	237,544.24	1,067,996.88	1,305,329.91	1,539,452.43	1,704,620.18	1,685,582.92	1,753,192.34	1,639,539.49
		Caja disponible para acelerar pago MUS$300						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda MUS$300
		Balance incial						298,607.00	298,607.00	298,607.00	298,607.00	298,607.00	0.00	0.00	0.00	0.00	0.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	298,607.00	0.00	0.00	0.00	0.00	0.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					298,607.00	298,607.00	298,607.00	298,607.00	298,607.00	0.00	0.00	0.00	0.00	0.00	0.00
		Tasa de interés					3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	0.00%	0.00%	0.00%	0.00%	0.00%
		Gastos por intereses						10,242.22	10,242.22	10,242.22	10,242.22	5,121.11	0.00	0.00	0.00	0.00	0.00
		Caja disponible para pago obligatorio MUS$450						608,590.51	10,426.24	237,544.24	1,067,996.88	1,006,722.91	1,539,452.43	1,704,620.18	1,685,582.92	1,753,192.34	1,639,539.49
		Caja disponible para acelerar pago MUS$450						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda MUS$450 
		Balance incial						444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	444,077.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	0.00
		Tasa de interés					4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%	4.19%
		Gastos por intereses						18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	9,303.41
		Caja disponible para pago obligatorio Deuda H						608,590.51	10,426.24	237,544.24	1,067,996.88	1,006,722.91	1,539,452.43	1,704,620.18	1,685,582.92	1,753,192.34	1,195,462.49
		Caja disponible para acelerar pago Deuda H						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda H
		Balance incial						129,364.00	129,364.00	115,615.00	101,866.00	88,117.00	74,368.00	60,619.00	46,870.00	33,121.00	19,372.00
		Repagos obligatorios						0.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00	13,749.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					129,364.00	129,364.00	115,615.00	101,866.00	88,117.00	74,368.00	60,619.00	46,870.00	33,121.00	19,372.00	5,623.00
		Tasa de interés					4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%
		Gastos por intereses						6,183.60	5,855.00	5,197.80	4,540.59	3,883.39	3,226.19	2,568.99	1,911.78	1,254.58	597.38
		Caja disponible para pago obligatorio Deuda O						608,590.51	(3,322.76)	223,795.24	1,054,247.88	992,973.91	1,525,703.43	1,690,871.18	1,671,833.92	1,739,443.34	1,181,713.49
		Caja disponible para acelerar pago Deuda O						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda O
		Balance incial						55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00
		Tasa de interés					3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%	3.70%
		Gastos por intereses						2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45
		Caja disponible para pago obligatorio Deuda P						608,590.51	(3,322.76)	223,795.24	1,054,247.88	992,973.91	1,525,703.43	1,690,871.18	1,671,833.92	1,739,443.34	1,181,713.49
		Caja disponible para acelerar pago Deuda P						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda P
		Balance incial						113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00113,341.00	0.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	113,341.00	0.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	0.00	0.00
		Tasa de interés					3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%	3.24%
		Gastos por intereses						3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	1,836.12	0.00
		Caja disponible para pago obligatorio Deuda Q						608,590.51	(3,322.76)	223,795.24	1,054,247.88	992,973.91	1,525,703.43	1,690,871.18	1,671,833.92	1,626,102.34	1,181,713.49
		Caja disponible para acelerar pago Deuda Q						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda Q
		Balance incial						113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00
		Repagos obligatorios						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Repagos acelerados						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00
		Tasa de interés					3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%	3.45%
		Gastos por intereses						3,909.85	3,909.85	3,909.85	3,909.85	3,909.85	3,909.85	3,909.85	3,909.85	3,909.85	3,909.85
		Caja disponible para pago obligatorio Revolver						608,590.51	(3,322.76)	223,795.24	1,054,247.88	992,973.91	1,525,703.43	1,690,871.18	1,671,833.92	1,739,443.34	1,181,713.49
		Caja disponible para acelerar pago Revolver						130,220.29	13,749.00	459,499.67	678,050.79	1,272,159.49	1,184,880.48	1,093,297.16	1,094,649.06	1,115,842.87	1,224,953.36
	x	Deuda revolver
		Balance incial						280,777.00	0.00	3,322.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Repagos obligatorios						280,777.00	(3,322.76)	3,322.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Balance final					280,777.00	0.00	3,322.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Tasa de interés						4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%
		Gastos por intereses						5,615.54	66.46	66.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Caja disponible para pago obligatorio Transelec S.A						327,813.51	13,749.00	1,060,313.40	1,349,306.79	2,086,725.27	1,929,465.75	1,704,620.18	1,685,582.92	1,753,192.34	1,870,044.62
	x	Nueva deuda
		Flag refinancamientos						0.00	0.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	1.00
		Target Ratio Deuda / EBITDA 						2.02	2.02	2.02	2.02	2.02	2.02	2.02	2.02	2.02	2.02
		EBITDA						485,653.64	675,139.74	1,125,042.71	1,257,600.47	1,489,976.74	1,430,174.51	1,283,684.99	1,291,816.11	1,224,072.65	1,240,965.32
		Deuda target						980,266.50	1,362,734.30	2,270,839.92	2,538,400.83	3,007,440.19	2,886,732.51	2,591,051.07	2,607,463.31	2,470,726.67	2,504,823.64
		Deuda existente post pagos obligatorios y revolver						1,472,246.00	1,461,819.76	1,444,748.00	2,257,090.92	2,226,044.83	2,745,205.19	2,872,983.51	2,859,234.51	2,732,144.51	2,274,318.51
		Emisiones (re-pagos) de deuda						0.00	0.00	826,091.92	281,309.91	781,395.36	141,527.32	0.00	0.00	0.00	230,505.13
	x	Balance inicial						0.00	0.00	0.00	826,091.92	1,107,401.83	1,888,797.19	2,030,324.51	2,030,324.51	2,030,324.51	2,030,324.51
		Emisión / (repago)						0.00	0.00	826,091.92	281,309.91	781,395.36	141,527.32	0.00	0.00	0.00	230,505.13
		Balance final					0.00	0.00	0.00	826,091.92	1,107,401.83	1,888,797.19	2,030,324.51	2,030,324.51	2,030,324.51	2,030,324.51	2,260,829.64
		Tasa de interés
		Gastos por intereses						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Caja disponible después de refinanciamientos de deuda						327,813.51	0.00	1,046,564.40	1,335,557.79	1,774,369.27	1,667,230.75	1,690,871.18	1,671,833.92	1,739,443.34	1,412,218.62
	x	Resumen deuda financiera de largo plazo
		Deuda Scotiabank						69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00	69,138.00
		Deuda MUS$250						248,486.00	248,486.00	248,486.00	248,486.00	248,486.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$300						298,607.00	298,607.00	298,607.00	298,607.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$450 						444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	444,077.00	0.00
		Deuda H						129,364.00	115,615.00	101,866.00	88,117.00	74,368.00	60,619.00	46,870.00	33,121.00	19,372.00	5,623.00
		Deuda O						55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00	55,904.00
		Deuda P						113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	113,341.00	0.00	0.00
		Deuda Q						113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00	113,329.00
		Nueva deuda						0.00	0.00	826,091.92	1,107,401.83	1,888,797.19	2,030,324.51	2,030,324.51	2,030,324.51	2,030,324.51	2,260,829.64
		Total deuda financiera de largo plazo					1,472,246.00	1,472,246.00	1,458,497.00	2,270,839.92	2,538,400.83	3,007,440.19	2,886,732.51	2,872,983.51	2,859,234.51	2,732,144.51	2,504,823.64
	x	(Pago)/Emisión de la deuda
		Deuda Scotiabank						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$250						0.00	0.00	0.00	0.00	0.00	(248,486.00)	0.00	0.00	0.00	0.00
		Deuda MUS$300						0.00	0.00	0.00	0.00	(298,607.00)	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$450 						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	(444,077.00)
		Deuda H						0.00	(13,749.00)	(13,749.00)	(13,749.00)	(13,749.00)	(13,749.00)	(13,749.00)	(13,749.00)	(13,749.00)	(13,749.00)
		Deuda O						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda P						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	(113,341.00)	0.00
		Deuda Q						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Nueva deuda						0.00	0.00	826,091.92	281,309.91	781,395.36	141,527.32	0.00	0.00	0.00	230,505.13
		(Pagos)/Emisiones obligatorios neto						0.00	(13,749.00)	812,342.92	267,560.91	469,039.36	(120,707.68)	(13,749.00)	(13,749.00)	(127,090.00)	(227,320.87)
	x	Resumen gastos por intereses
		Deuda de Corto Plazo/revolver						5,615.54	66.46	66.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Deuda Scotiabank						2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69	2,751.69
		Deuda MUS$250						10,138.23	10,138.23	10,138.23	10,138.23	10,138.23	5,069.11	0.00	0.00	0.00	0.00
		Deuda MUS$300						10,242.22	10,242.22	10,242.22	10,242.22	5,121.11	0.00	0.00	0.00	0.00	0.00
		Deuda MUS$450 						18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	18,606.83	9,303.41
		Deuda H						6,183.60	5,855.00	5,197.80	4,540.59	3,883.39	3,226.19	2,568.99	1,911.78	1,254.58	597.38
		Deuda O						2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45
		Deuda P						3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	3,672.25	1,836.12	0.00
		Deuda Q						3,909.85	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45	2,068.45
		Nueva Deuda						0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
		Total gastos por intereses						63,188.65	55,469.57	54,812.36	54,088.71	48,310.39	37,462.97	31,736.65	31,079.45	28,586.12	16,789.38
	x	Patrimonio
		Caja disponible para pagar dividendos						327,813.51	0.00	1,046,564.40	1,335,557.79	1,774,369.27	1,667,230.75	1,690,871.18	1,671,833.92	1,739,443.34	1,412,218.62
		Politica de dividendos						100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
		Balance inicial						2,134,472.00	2,134,472.00	2,436,992.04	2,436,992.04	2,436,992.04	2,436,992.04	2,436,992.04	2,436,992.04	2,436,992.04	2,436,992.04
		Utilidad neta / ganancia						197,593.22	302,520.04	600,813.72	671,256.00	814,565.78	744,585.27	611,323.02	590,933.86	637,349.48	645,091.25
		Dividendos						197,593.22	0.00	600,813.72	671,256.00	814,565.78	744,585.27	611,323.02	590,933.86	637,349.48	645,091.25
		Aumentos de capital						0.00	0.00	0.00	0.00	0.00	0.00