Quiñenco is one of the largest and most diversified business conglomerates in Chile. It manages assets of approximately US$82.0 billion, with investments in leading companies of the financial, food and beverage, manufacturing, energy, transport and port services sectors, which altogether employ more than 69,000 people in Chile and abroad. In 2018, the aggregate sales of the main operating subsidiaries and affiliates in which Quiñenco participates amounted to US$30.2 billion.
Founded in 1957, Quiñenco S.A.'s shares are traded on the Chilean stock exchanges. With 83% of ownership interest, the company manages the Luksic Group’s financial and industrial investments. The remaining percentage is in the hands of minority shareholders. As of June 30, 2019, its market capitalization amounted to US$4.4 billion.
Quiñenco's value creation system is based on the excellent management of its investments. Maintaining management control of the companies, either directly or through strategic alliances, is one of the essential conditions for the execution of its corporate strategy.
Over the last 20 years, the holding has demonstrated its capacity to generate value, obtaining earnings of US$1.7 billion for its shareholders resulting from divestment transactions of approximately US$4.2 billion.
Main Quiñenco Group Companies
| INDUSTRY | BUSINESS | % OWNERSHIP 1 | MARKET CAPITALIZATION1 | PRODUCT | RANKING (2018) |
|---|---|---|---|---|---|
| Financial Services | Banco de Chile | 51.2%2 (in alliance with Citigroup) | US$14.9 billion |
Loans
Deposits |
2 1 |
| Beverage | CCU | 60.0% (in alliance with Heineken) | US$5.2 billion |
Chile (non-alcoholic and alcoholic beverages)
International Business (beer, cider, non-alcoholic beverages and spirits in Argentina, Uruguay, Paraguay and Bolivia) Wine |
- - - |
| Manufacturing | NEXANS | 29.1%3 | US$1.5 billion | Cables (Worldwide) | 2 |
| Energy | Enex | 100% | US$870 million4 |
Fuels
Service Stations |
2 2 |
| Transport |
CSAV
Hapag-Lloyd |
56.2%
27.5%5 |
US$1.3 billion
US$7.7 billion |
Car Carriers
Container Ship Liner (Worldwide) |
-
5 |
| Port Services | SM SAAM | 52.2% | US$930 million |
Port Operator (South America)
Tug Boats (America) |
5 1 |
1 As of June 30, 2019.
2 Corresponds to LQIF’s voting and economic rights in Banco de Chile.
3 Percentage held by Invexans and,to a lesser extent by Techpack. Quiñenco’s stake in Invexans amounted to 99.2% as of June 30, 2019. Invexans’ market capitalization as of June 30, 2019 was US$280 million.
4 Book value as of June 30, 2019.
5 Percentage held by CSAV.
Highlights
in millions of Ch$ as of December 31 of each year| 2017 | 2018 | |
|---|---|---|
| Total assets | 37,982,419 | 41,736,083 |
| Total liabilities | 31,429,629 | 34,615,040 |
| Total equity | 6,552,790 | 7,121,042 |
| Net income (loss) from non-banking businesses | (55,231) | 74,369 |
| Net income from banking businesses | 503,667 | 516,078 |
| Consolidated net income | 448,436 | 590,447 |
| Net income attributable to owners of the controller | 108,740 | 180,430 |
| Earnings per share (Ch$) | 65.40 | 108.51 |