Rises in profits of almost 50% in dollars, or an increase in the Ebitda of the sector linked to trade of 500%, are the bets of investment banks for the results season that started last week.

Increases of more than double digits in the profits of the IPSA companies, and some sectors with a multiplication of several times in their income, are the estimates of the investment banks for the results of the second quarter.

The season started last week, and there are already some surprises. Sonda reported a year-on-year increase in its profits of 741% in the second quarter, bottling Andina in 14%, Enel Chile reported profits reached $ 63,440 million as of June 2021, compared to a loss of $ 327,941 million registered in the same period of the previous year .

In its report on estimates of results for the second quarter, BCI Corredor de Bolsa estimated that at the local level “we observe the recovery that economic activity has shown, largely explained by a low comparison base 2Q20”, and that “we highlight the strong growth of 18.1% year on year that showed the economic activity in May. One of the sectors that showed the greatest rebound was the commerce sector, growing 51.3% year-on-year. On the other hand, the service sector showed an expansion of 16.8% year on year ”.

For this reason, the entity points out that “our consolidated coverage would present a growth in income of 28% year-on-year (measured in pesos) and a significant expansion of 47% year-on-year (measured in dollars)”, and the “Ebitda of our coverage would grow 62.9% year-on-year (measured in pesos) and 87% year-on-year (measured in dollars) ”.

Along these lines, the growth in income from the commodities (66.8%), forestry (70.3%), retail and commercial real estate (32.47%) sectors would stand out.

For its part, Credicorp Capital estimated that for the second quarter the companies under its coverage “will benefit from a low comparison base, given that many sectors faced a challenging start to the pandemic. Additionally, the high levels of household liquidity will benefit sectors such as retail, beverages and banks ”.

Along with that, he points out that higher commodity prices will boost the results of CAP, CMPC and Copec, and that “for the electricity sector we expect a strong recovery this quarter despite the difficult operating context of Chilean generators, due to the weak hydrology , the lower availability of gas and the increase in spot prices ”.