Grupo SURA has presented its financial results for the first quarter of this year, showing operating revenues of USD 93.0 million and net profits of USD 75.2 million. Assets came to USD 11.5 billion, showing increases of 2.6% compared to the same period last year and 7.6% versus year-end 2013. Shareholders’s equity at the end of this first quarter came to 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 USD 51.8 million this past quarter, posted via the equity method. Suramericana, the Group’s insurance and social security subsidiary contributed with USD 31.2 million and SURA Asset Management, the pension, savings and investment fund management subsidiary provided another USD 32.8 million. Assets at March 31, 2013 came to USD 11.5 billion, showing an increase of 7.6% compared to year-end 2013.
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 they 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.
URA Asset Management es una empresa latinoamericana, filial de Grupo SURA, que participa por medio de sus compañías operativas en los negocios de pensiones, ahorro e inversión, en Chile, México, Perú, Colombia, Uruguay y El Salvador. A diciembre 31 de 2013 cuenta con 9,822 colaboradores y administra activos por USD 113.2 billones, pertenecientes a sus 16.7 millones de clientes, posición que la sitúa como líder del negocio de pensiones en América Latina con una cuota de mercado de 23.4% en activos administrados a esa fecha *.
Para la colocación se realizó una gira encabezada por el Presidente Ejecutivo de la Compañía, Andrés Castro, quien junto a un equipo de profesionales sostuvieron reuniones con inversionistas en 9 ciudades de Europa, Estados Unidos y América Latina.
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