<strong>Entel</strong> Servicios Empresariales (Red deTransacciones Electrónicas S.A.)<strong>Entel</strong> Inversiones S.A. y filial <strong>Entel</strong> Call Center S.A. y filial Cientec Computación S.A. (1) <strong>Entel</strong> Internacional BVI Corp. y filial Empresa de Radiocomunicaciones InstaBeep Ltda.12/31/2011 12/31/2010 12/31/2011 12/31/2010 12/31/2011 12/31/2010 12/31/2011 12/31/2010 12/31/2011 12/31/2010 12/31/2011 12/31/2010(3,161,651) (85,499) 4,300,160 2,001,924 1,837,292 2,339,187 - 2,107,503 (3,773) (67,302) (1,087) (37)(2,317,772) - - - - - - (81,143) (493) (530) -(5,479,423) (85,499) 4,300,160 2,001.924 1,837,292 2,339,187 " 2,026,360 (4,266) (67,832) (1,087) (37)- - (4,436,341) (1,172,274) (1,820,825) (741,892) - (1,126,604) - (2,626) -5,479,423 85,507 (39,863) (339,865) 26,510 (1,568,720) - (887,292) - 101,407 1,087 370 8 (176,044) 489,785 42,977 28,575 - 12,464 (4,266) 30,949 0 0- - - - - - - (2,568) 4,256 2,465 - -- - - - - - - - - - - -8 - 1,027,574 537,789 182,787 154,212 - 4,349 42,110 8,696 - -8 8 851,530 1,027,574 225,764 182,787 - 14,245 42,100 42,110 0 0225Micarrier Telecomunicaciones S.A. <strong>Entel</strong> Servicios Empresariales ( Ex -Red de Transacciones ElectrónicasS.A.)<strong>Entel</strong> Inversiones S.A. y filial <strong>Entel</strong> Call Center S.A. y filial Cientec Computación S.A. (1) <strong>Entel</strong> Internacional BVI Corp. y filial Empresa de RadiocomunicacionesInsta Beep Ltda.Report 20111,984,236 183,491 33,607,277 3,153,650 - 197,741 (676,855)35,244 186,367 1,121,108 1,104,549 - 18,273 (27,577)- - - - - - -- - - - - - -- 1 1,545,956 (38,399) - 84 -2,019,480 369,859 36,274,341 4,219,800 - 216,098 (704,432)1,994,410 72,497 47,899,593 3,092,755 12,105,485 282,690 (660,652)(10,174) 110,996 (87,049) 60,299 (579,384) (83,622) (16,203)- - - - - - -- - - - - - -- (2) (14,205,267) 596 1 (1,327) -1,984,236 183,491 33,607,277 3,153,650 11,526,102 197,741 (676,855)
Subsidiaries of <strong>Entel</strong> S.A.Company Name <strong>Entel</strong> PCS Telecomunicaciones S.A. and Subsidiaries <strong>Entel</strong> Telefonía Local S.A. o <strong>Entel</strong> Phone S.A. and Subsidiaries226Legal StatusConstituting DocumentsBusiness PurposePrivate limited company, registered in the Special Register ofReporting Entities (No. 33.).<strong>Entel</strong> PCS Telecomunicaciones S.A. was incorporated asa limited company by public deed on October 3, 1996, inaccordance with the laws of the Republic of Chile.The purpose of the company is: the study, construction andoperation of a system to provide all types of transmission,switching, communication, metering, billing and chargingservices for mobile telecommunications; to import andexport, market, distribute, sell, lease, and provide in any othermanner, all types of equipment required for the provision ofmobile communications and complementary/supplementaryservices; and in general, to undertake all types of activities,agree, sign and execute all types of contracts required for theprovision of any type of mobile communications services.Subscribed and Paid-in Capital on December 31, 2011 The company’s subscribed and paid-in capital isTh.CLP $128,398,586.Private Corporation.Direct and Indirect Stock <strong>Entel</strong> S.A. <strong>Entel</strong> Chile S.A.: 99.999% <strong>Entel</strong> Chile S.A. 99,000%<strong>Entel</strong> Inversiones S.A. 1,000%Percentage of Investment of <strong>Entel</strong> S.A. Assets 26.03% 0.49%Income for 2011 Financial Year Th.CLP $139,999,549 Th.CLP $1,557,144<strong>Entel</strong>Phone S.A. was incorporated as a limited company bypublic deed on April 29, 1994, in accordance with the lawsof the Republic of Chile. On December 20, 1994, by SupremeDecree 450, the Ministry of Transport and Telecommunicationsawarded a public telephone services concession to thecompany to install, operate, and run a local telephone system.The company meets the telephone communications,multimedia and infrastructure needs of high-use consumers,and provides marketing and dealership of equipment anddevices and undertakes all telecommunications relatedbusiness activities.The company’s subscribed and paid-in capital isTh.CLP $29,603,142.Report 2011Board of DirectorsRichard Büchi B., ChairmanJuan Hurtado V., Vice-ChairmanLuis Felipe Gazitúa A., DirectorAlfredo Parot D., DirectorFelipe Ureta P., DirectorRichard Büchi B., ChairmanAntonio Büchi B., DirectorAlfredo Parot D., DirectorJosé Luis Poch P., DirectorFelipe Ureta P., DirectorCEO Antonio Büchi B. Marío Nuñez P.Positions Held at <strong>Entel</strong> S.A.Commercial Relationship with <strong>Entel</strong> Chile S.A.Agreements and ContractsRichard Büchi B., Executive Vice-PresidentAlfredo Parot D., Vice-Chairman of Technology and OperationsFelipe Ureta P., Corporate Finance and Financial PlanningAntonio Büchi B., CEO<strong>Entel</strong> Telefonía Personal provides <strong>Entel</strong> Chile S.A. networkinfrastructure to broaden the coverage of its fixedtelecommunications services. <strong>Entel</strong> Chile S.A. provides <strong>Entel</strong>Telefonía Personal with telecommunications services tosupport its mobile communications operations.<strong>Entel</strong> PCS S.A. contracted national signal transport servicesin dedicated and switched mode from <strong>Entel</strong> S.A. forTh.CLP $71,114,574.It also leased and-subleased physical space in buildings,stores, and radio stations owned by <strong>Entel</strong> PCS S.A. or thirdparties to <strong>Entel</strong> Chile S.A. Finally, it contracted marketingconsultancy services, telephone technical services, andData Center services for Th.CLP $7,072,225. <strong>Entel</strong> ChileS.A. contracted leased infrastructure, telecommunicationsservices, and the payment of access charges from <strong>Entel</strong> PCSS.A. for Th.CLP $7,208,407.Richard Büchi B., Executive Vice-ChairmanAntonio Büchi B., CEO.Alfredo Parot D., Vice-Chairman Technology and OperationsJosé Luis Poch P., Vice-Chairman Consumers MarketFelipe Ureta P., Corporate Finance and Financial PlanningMario Nuñez P., Vice-Chairman Enterprise Market<strong>Entel</strong>Phone S.A. provides Chile <strong>Entel</strong> S.A. with the servicesrequired to complement its integrated communications andoperational continuity services. <strong>Entel</strong> Chile S.A. provides<strong>Entel</strong>Phone S.A. with the operation and maintenance ofnetwork platforms to support its business activities.<strong>Entel</strong> Chile S.A. leases telecommunications infrastructure andinstallation services, provides the operation and maintenanceof networks, the lease or sublease of physical space inbuildings and commercial branches, IT data processingservices, network administration and administration servicesto <strong>Entel</strong>Phone S.A. for Th.CLP $22,303,153. <strong>Entel</strong>Phone S.A.provided <strong>Entel</strong> Chile S.A. with telecommunications servicesand access charges for Th.CLP $3,926,432.
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Company IdentificationChairman’s
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Juan José Hurtado VicuñaChairmanC
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CONSOLIDATED REVENUEValues calculat
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CONSOLIDATED OPERATING INCOMEValues
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Chapter 1CompanyinfOrmation_
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KEY FIGURES 2011In CLP$ 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 $502 millionon the d
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custOmerserVice_42Report 2011The ma
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Consultancy, good practices and the
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innovAtion_46Report 2011Innovation
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48Report 2011I-factoryEntel has cre
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MarketSegments_Chapter 3
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REVENUE FOR CHILEAN TELECOMMUNICATI
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Connectivity Breaking Down Barriers
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December 5, 2011January 16, 2012Mar
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CONSUMERS SEGMENT SHARE OF TOTALENT
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945,429 subscribersMBB services (in
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Innovations 2011The new products an
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ENTERPRISE SEGMENT SHARE OF TOTALEN
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+50% market sharein mobile services
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CORPORATE SEGMENT SHARE OF TOTAL EN
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Mobile ServicesInfrastructureFor th
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15 %annual growthin Wholesale Segme
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...
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pOlicy andactiOns_78Corporate socia
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In August 2011, the second stage of
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(* ) USD$ 45 millionParticipants in
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(* )...consOlidatedresultS_86Report
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mobilebUsiness_88Report 2011Market
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wirElinebusinEss_90Report 2011Focus
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#...
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AmericatelpErú_96Report 2011Aligne
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AMERICATEL PERÚ GROSS REvENUE(in U
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(* )24%annual growthactive position
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COPC® CertificationIn April 2011,
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compAny andfiNancialinformation_
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*Tax ID No. Shareholders Quantity o
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On January 24, 2005, the board of d
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]q) Inversiones La Estancia II S.A.
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:)divideNdpOlicy_The dividend polic
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invEstmentpOlicy_The objective of t
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sumMary oftransactiOns_Summary shar
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iSkfactoRs_122Report 2011The Risk o
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Interest Rate Risks124Report 2011Th
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consolidAted materiAlevEnts 2011_12
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128Report 20112) Shareholding of Co
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130Report 2011agreement before Dece
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(* )132Report 2011The main policies
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ConsolidatedFinancialStatements
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IndependentAuditor ReportIndependen
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EMPRESA NACIONAL DE TELECOMUNICACIO
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EMPRESA NACIONAL DE TELECOMUNICACIO
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EMPRESA NACIONAL DE TELECOMUNICACIO
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2. BASIS FOR THE PREPARATION OF THE
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3. SUMMARY OF ACCOUNTING POLICIESa)
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) Transactions and Balances in Fore
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j) GoodwillIn the case of the compl
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Such programs include: calling cred
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Non-Derivatives Financial Instrumen
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CATEGORIES OF FINANCIAL ASSETS AND
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Institution Currency DateplacementD
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The derivatives category applies to
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The breakdown of commercial debtors
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9. ACCOUNTS RECEIVABLE WITH RELATED
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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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