)The consolidated income statements for the 2011 financial YearNominal Dividend (in CLP$)year show a profit of CLP $180,766,658,842.1997 55,671998 20,00For the purposes of determining the liquid distributable profitto be considered in the calculation of the minimum compulsory1999200010,0040,00119and supplementary dividend, the company has established2001 40,002002 43,38a policy of deducting profits originating from the adjustment2003 65,00of assets and liabilities to fair value while these have still not2004 90,00been undertaken.2005 895,002006 290,00In line with this policy, during the previous financial year,CLP $885,992,024 was deducted for unrealized profits; in2011, CLP $434,369,663 of these profits materialized, a valuethat must be reinstated to determine the profit to be distributedfor 2011. Consequently, the liquid distributable profit forthe 2011 financial year is CLP $181,201,028,505.20072008200920102011338,00443,00443,00450,00545,00Report 2011distribuTablepRofits_dividEnds peRshAre_An interim dividend of CLP $150 per share, equivalent to a totalof CLP $35.478.554.250 was allocated against these profits,payable on December 12, 2011. The dividend was agreed at themeeting of the company’s board of directors that took place onNovember 7, 2011 and represents 19.58 % of liquid distributableprofits for the financial year.Profits are not subject to any other deductions for distribution.
sumMary oftransactiOns_Summary share transactions of Empresa Nacional de Telecomunicaciones S.A. over the last three years:Santiago Stock Exchange Chilean Electronic Stock Exchange Stock ExchangeQuantity Traded Value Traded (CLP$) Average Price(CLP$)QuantityTradedValue Traded(CLP$)Average Price(CLP$)QuantityTradedValue Traded(CLP$)AveragePrice(CLP$)Quarter 1, 2009 14,502,454 99,061,631,096 6,791 692,358 4,685,454,476 6,756 15,298 106,429,737 6,957Quarter 2, 2009 20,155,709 146,927,393,588 7,288 1,731,992 12,660,407,486 7,233 65,177 476,923,975 7,317Quarter 3, 2009 14,275,269 103,834,085,297 7,279 691,801 5,054,328,090 7,272 30,098 220,508,780 7,326Quarter 4, 2009 19,176,490 135,660,828,421 7,069 7,193,299 51,817,772,057 7,104 27,684 197,375,119 7,130120Report 2011Quarter 1, 2010 22,608,351 167,919,256,265 7,500 2,177,001 16,343,504,979 7,503 44,473 331,190,839 7,447Quarter 2, 2010 15,357,515 110,810,176,951 7,211 1,935,426 14,227,081,279 7,262 31,763 229,475,540 7,225Quarter 3, 2010 16,870,066 131,896,627,021 7,819 2,138,772 16,649,199,323 7,784 90,600 718,469,812 7,930Quarter 4, 2010 14,362,661 115,509,854,377 8,051 906,176 7,262,801,043 8,069 44,706 366,111,817 8,189Quarter 1, 2011 15,957,457 126,648,587,797 7,937 1,028,126 8,149,829,990 7,927 26,166 205,368,620 7,849Quarter 2, 2011 26,293,805 232,657,810,841 8,848 2,501,652 22,374,195,749 8,944 38,985 337,663,018 8,661Quarter 3, 2011 23,082,175 221,781,884,732 9,608 1,992,263 18,966,299,783 9,520 15,672 146,602,858 9,354Quarter 4, 2011 19,554,883 190,830,226,753 9,759 2,413,875 23,484,695,759 9,729 4,202 41,229,141 9,812Totals 222,196,835 1,783,538,363,139 8,027 25,402,741 201,675,570,014 7,939 434,824 3,377,349,256 7,767Share TransactionsIn compliance with the directives set out in General Regulation269 of the Chilean Securities and Insurance Supervisor,it is expressly stated that in 2011, in line with our records, thefollowing share transactions were carried out by the relatedshareholders.Name/Trading As Type ofRelationshipTransaction Date Transaction Type Purchase/SalePlace No. of Shares Unit Price(CLP$)Value Traded(CLP$)Tomás Hurtado Cruzat With owning director 12/21/11 Financial investment Sale Stock Exchange 5,907 9,949.98 58,774,517Yelcho Inmobiliaria S.A. With owning director 12/12/11 Financial investment Sale Stock Exchange 436,755 9,700.10 4,236,567,176Yelcho Inmobiliaria S.A. With owning director 12/06/11 Financial investment Sale Stock Exchange 32,002 9,708.79 310,700,896
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Company IdentificationChairman’s
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Juan José Hurtado VicuñaChairmanC
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CONSOLIDATED REVENUEValues calculat
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CONSOLIDATED OPERATING INCOMEValues
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Chapter 1CompanyinfOrmation_
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KEY FIGURES 2011In CLP$ million 200
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1997199820002001PCS MOBILE TELEPHON
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Since 2009, Entel has had a Code of
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23Report 2011Raúl AlcaínoLihnDire
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New StructureIn its current organiz
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“workForce*_27ParentCompanyMobile
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72 projectswere undertaken by Human
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31Report 2011
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Entel sponsored the Sensation and C
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“Live better connected” Campaig
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Chapter 2StrategicfouNdations_
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Entel spentUSD $502 millionon the d
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custOmerserVice_42Report 2011The ma
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Consultancy, good practices and the
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innovAtion_46Report 2011Innovation
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48Report 2011I-factoryEntel has cre
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MarketSegments_Chapter 3
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REVENUE FOR CHILEAN TELECOMMUNICATI
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Connectivity Breaking Down Barriers
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December 5, 2011January 16, 2012Mar
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CONSUMERS SEGMENT SHARE OF TOTALENT
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945,429 subscribersMBB services (in
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Innovations 2011The new products an
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ENTERPRISE SEGMENT SHARE OF TOTALEN
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10. INVENTORYInventory is primarily
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Intangible assets are amortized in
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Transactions in 2011 for property,
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Components affected by impairment a
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c) Unrecognized Deferred Tax Assets
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15. OTHER FINANCIAL LIABILITIESThe
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CreditorClass ofLiabilityTotal debt
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On 12/31/2010Debtor Tax IDDebtorEnt
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17. OTHER PROVISIONSThe breakdown o
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The benefit is provided to staff th
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_Other reservesThe other reserves p
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c) Ordinary ExpenditureThe breakdow
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Class of asset Currency 12/31/2011T
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25. OPERATIONAL LEASESThe main oper
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General information on income, asse
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at the start of January for subsequ
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_Grupo Consultor en Telecomunicacio
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Current procedural stage: Ruling fo
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g. There are management restriction
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Ratio analYsis of consOlidatedfinAn
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Investments were mainly focused on
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In consideration of the aforementio
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consolidAtedmateriAl evEntsIn compl
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2) Shareholding of Coigüe in Entel
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IX. Parent Company - Merger by Abso
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sUbsidiariesand associAtecOmpanies_
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Entel Servicios Empresariales ( Ex
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Entel Servicios Empresariales (Red
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Subsidiaries of Entel S.A.Company N
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Subsidiaries of Entel S.A.Company N
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231Report 2011PrintingFYRMA GRÁFIC
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mejor Conecjor Conectado.Vivir mejo