-- The Company reported operating revenues totaling COP 183,211 (USD 93.0
million).
-- Assets at March 31, 2013 came
to COP 22.6 billion (USD 11.5 billion), showing an increase of 7.6%
compared to year-end 2013.
MEDELLIN, Colombia,
April 25, 2014 /PRNewswire/ -- Grupo
SURA has presented its financial results for the first quarter of
this year, showing operating revenues of COP
183,211 (USD 93.0 million) and
net profits of COP 148,050 million
(USD 75.2 million). Assets came to
COP 22.6 billion (USD 11.5 billion), showing increases of 2.6%
compared to the same period last year and 7.6% versus year-end
2013. Shareholders´ equity at the end of this first quarter came to
COP 20.9 billion (USD 10.6 billion), which was 3.0% higher than for
year-end 2013.
These results mirrored a good level of performance on the part
of GRUPO SURA´s subsidiaries which contributed with a total of
COP 102,095 million (USD 51.8 million) this past quarter, posted via
the equity method. Suramericana, the Group´s insurance and social
security subsidiary contributed with COP
62,936 million (USD 31.2
million) and SURA Asset Management, our pension, savings and
investment fund management subsidiary provided another COP 64,529 million (USD
32.8 million).
Overall results for this past quarter showed an increase in
liabilities due to the financing obtained for the acquisition of
preferred shares in Bancolombia back in March of this year. This
produced a debt ratio of 4.7%. On the other hand, the Colombian
Superintendency of Finance has given its authorization for an issue
of Ordinary Bonds and/or Commercial Paper for up to COP 1.3 billion. This new issue of bonds to be
placed in stages, the first for almost 50% of the total amount
authorized, shall be used to restructure the Company's debt,
providing it with more flexibility in taking full advantage of
market opportunities or advancing its expansion plans.
As we recently announced, Fitch ratings has given this
forthcoming issue an "AAA" rating. In its corresponding report,
Fitch Ratings highlighted the sound credit profile of all those
companies from which the Group obtains a steady stream of dividends
as well as an adequate debt debt-service coverage ratio,
historically low leverage ratios together with adequate liquidity
and the capacity to access alternate sources of financing.
On the other hand, Grupo Sura´s subsidiary, SURA Asset
Management S.A. announced the terms and conditions of its first
ever issue of corporate bonds on the international markets worth a
total of USD 500 million. The value
of the bids received came to a total of USD
4,281 million, almost 9 times the amount offered.
ABOUT GRUPO SURA
Grupo de Inversiones Suramericana –GRUPO SURA- is a Latin
American company listed on the Colombian Stock Exchange and
registered with the ADR- Level 1 program in the United States. We are also the only entity
from Latin American diversified financial services sector to be
admitted to the Dow Jones Sustainability Index (DJSI), which
monitors companies who have become global benchmarks thanks to the
good practices they have adopted from the economic, environmental
and social standpoints. GRUPO SURA
holds two types of investments, the first being its strategic
investments in the financial service, insurance, social security as
well as complementary service sectors; and the second corresponds
to its portfolio investments in the processed food, cement and
energy sectors.
Luis Felipe Posada
Jimenez
Grupo de Inversiones Suramericana
(574) 260 21 00 Ext. 2571
lfposada@gruposura.com.co