Chilean operator with participation from Korean industrial giant LG has published its first set of annual results after purchasing Winchester Luna and Hupecol in early 2012. From a corporate perspective all of its absolute indicators are up significantly because of success in Chile and the acquisition of significant production in Colombia. However, as the graph shows, EBITDA margins in Colombia are poorer than the Colombian average (which was pulled down by poor results at Canacol) and much poorer than the company’s operations in Chile.