Second Quarter 2012 Results - Entel

Second Quarter 2012 ResultsAugust 6, 2012BALANCE SHEETConsolidated Balance Sheet (limited review)(in millions of Chilean Pesos)6M12 6M11 Var %Assets1.621.619 1.451.519 12%Current assets 387.343 333.073 16%Property, plant & equipment, net 1.097.824 985.660 11%Others Non-current assets 136.452 132.786 3%Liabilities & shareholders’ 1.621.619 1.451.519 12%Current liabilities 525.222 453.916 16%Non Current Liabilities 332.983 279.429 19%Shareholders’ equity 763.414 718.174 6%Financial IndexesCurrent assets/Current liabilities 0,74 0,73 0,93EBITDA/Financial expenses 46,76 49,56 49,94Gross Financial debt/EBITDA* 0,72 0,59 0,63Total liabilities/(equity + min. interest) 1,12 1,02 1,02* EBITDA last 12 months.Jun/12 Jun/11 Dec/11As of June 30, 2012, gross financial debt reached Ch$ 380.4 billion, 30% higher whencompared to the same period of last year. This increase was the result of new debt raised inJune 2012 totaling Ch$ 70.0 billion and a 7% increase in the CH$/US$ exchange rate, partiallyoffset by leasing and bank payments. Net debt (gross debt less cash and net balances fromF/X hedging instruments including mark-to-market accruals) during the period reached Ch$400.2 billion, a 19% increase compared to the Ch$ 336.4 billion reported in 2Q11.12