Financials Banco Santander-Chile

Equities

BSANTANDER

CLP1506A1070

Banks

End-of-day quote Santiago S.E. Other stock markets 06:00:00 2024-05-13 pm EDT			5-day change	1st Jan Change
45 ^CLP	+0.90%		+5.02%	+4.65%

Apr. 30	Banco Santander Chile Q1 Earnings Decline, Operating Income Rises	MT
Apr. 11	Banco Santander-Chile Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,103,183	6,426,013	6,454,280	6,397,746	8,103,183	8,480,076	-	-
Enterprise Value (EV) ¹	8,103,183	6,426,013	6,454,280	6,397,746	8,103,183	8,480,076	8,480,076	8,480,076
P/E ratio	14.7 x	12.4 x	8.33 x	7.91 x	16.3 x	10.8 x	9.15 x	8.45 x
Yield	4.37%	5.16%	4.82%	7.28%	-	4.12%	5.53%	6.59%
Capitalization / Revenue	4.19 x	3.17 x	2.8 x	2.88 x	4.15 x	3.27 x	2.97 x	2.7 x
EV / Revenue	4.19 x	3.17 x	2.8 x	2.88 x	4.15 x	3.27 x	2.97 x	2.7 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.39 x	1.8 x	1.9 x	1.55 x	-	1.71 x	1.6 x	1.46 x
Nbr of stocks (in thousands)	188,446,127	188,446,127	188,446,127	188,446,127	188,446,127	188,446,127	-	-
Reference price ²	43.00	34.10	34.25	33.95	43.00	45.00	45.00	45.00
Announcement Date	1/29/20	2/4/21	2/3/22	2/3/23	2/2/24	-	-	-

¹CLP in Million²CLP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,935,554	2,024,363	2,302,755	2,223,266	1,950,444	2,594,837	2,860,057	3,143,844
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	1,121,946	1,163,371	1,385,837	1,284,014	1,040,748	1,438,576	1,700,376	1,813,934
Operating Margin	57.97%	57.47%	60.18%	57.75%	53.36%	55.44%	59.45%	57.7%
Earnings before Tax (EBT) ¹	702,645	653,686	979,599	913,287	567,155	989,453	1,244,565	1,375,131
Net income ¹	552,093	517,447	774,959	808,651	496,404	788,783	923,273	1,003,165
Net margin	28.52%	25.56%	33.65%	36.37%	25.45%	30.4%	32.28%	31.91%
EPS ²	2.930	2.750	4.110	4.290	2.630	4.165	4.917	5.325
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	1.880	1.760	1.650	2.470	-	1.852	2.489	2.964
Announcement Date	1/29/20	2/4/21	2/3/22	2/3/23	2/2/24	-	-	-

¹CLP in Million²CLP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	634,447	581,471	667,306	532,321	442,168	489,203	478,500	426,252	556,489	547,558	605,221	622,716	652,713	676,777
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	277,031	290,816	324,525	200,399	97,548	157,627	139,520	74,893	195,115	158,549	256,105	269,438	284,167	-
Net income ¹	231,761	235,743	285,514	185,592	101,802	135,683	127,187	56,616	176,918	120,251	197,891	208,703	219,968	-
Net margin	36.53%	40.54%	42.79%	34.86%	23.02%	27.74%	26.58%	13.28%	31.79%	21.96%	32.7%	33.51%	33.7%	-
EPS ²	1.230	1.250	1.520	0.9800	0.5400	0.7200	0.6700	0.3100	0.9300	0.6400	0.7993	1.230	1.317	-
Dividend per Share ²	-	-	2.470	-	-	-	2.570	-	-	-	1.717	-	-	-
Announcement Date	2/3/22	4/29/22	7/29/22	10/28/22	2/3/23	4/28/23	7/31/23	11/3/23	2/2/24	4/30/24	-	-	-	-

¹CLP in Million²CLP

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	16.7%	14.5%	22.7%	21.6%	-	16.7%	18.9%	18.3%
ROA (Net income/ Total Assets)	1.23%	0.9%	1.3%	1.2%	-	1.11%	1.34%	1.37%
Assets ¹	44,889,259	57,494,111	59,612,231	67,387,583	-	71,061,526	68,986,963	73,099,424
Book Value Per Share ²	18.00	18.90	18.00	21.90	-	26.30	28.10	30.90
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	1/29/20	2/4/21	2/3/22	2/3/23	2/2/24	-	-	-

¹CLP in Million²CLP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Banco Santander-Chile

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

45 CLP

Average target price

49.39 CLP

Spread / Average Target

+9.75%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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