Grupo Aval Acciones y Valores S A : Statement of financial position March 2020

GRUPO AVAL ACCIONES Y VALORES S.A. Statement of financial position

For the period ended as of march 31st 2020 and december 31st 2019 (Stated in millions of Colombian pesos)

		March 31st		December 31st
Assets		2020		2019
Current assets
Cash and cash equivalents	Ps.	46,991	Ps.	51,299
Trading securities		7		212
Accounts receivable from related parties		1,446,707		328,307
Other accounts receivable		179		164
Other non-financial assets		196		278
Total current assets		1,494,080		380,260
Non-current Assets
Investments in subsidiaries		21,554,730		22,077,817
Property and equipment		8,061		8,351
Deferred tax assets		80		331
Total non-current Assets		21,562,871		22,086,499
Total assets	Ps.	23,056,951	Ps.	22,466,759
Liabilities and shareholders' equity
Current liabilities
Borrowings at amortized cost, current	Ps.	321,548	Ps.	189,297
Outstanding bonds at amortized cost, current		106,971		107,435
Accounts payable		1,431,890		430,917
Employee benefits		1,819		1,806
Tax liabilities		28,987		35,575
Other non-financial liabilities		1,214		1,214
Total current liabilities		1,892,429		766,244
Long-term liabilities
Borrowings at amortized cost, non current		108,752		241,141
Outstanding bonds, non current		1,124,520		1,124,520
Total long-term liabilities		1,233,272		1,365,661
Total liabilities		3,125,701		2,131,905
Shareholders' equity
Subscribed and paid capital		22,281		22,281
Additional Paid-in capital		8,612,936		8,612,936
Retained earnings		9,332,473		7,638,814
Net income		708,695		3,031,238
Other equity accounts		1,254,865		1,029,585
Total shareholders' equity		19,931,250		20,334,854
Total liabilities and shareholders' equity	Ps.	23,056,951	Ps.	22,466,759

GRUPO AVAL ACCIONES Y VALORES S.A.

Statement of income

(Stated in millions of Colombian pesos, except earnings per share)

		For the accumulated period
		March 31st		March 31st
		2020		2019
Operating revenue
Equity method income, net	Ps.	702,160	Ps.	757,544
Other revenue from ordinary activities		71,327		72,328
Total operating revenue		773,487		829,872
Expenses, net
Administrative expenses		19,755		21,486
Other expenses		0		29
Gains (Losses) from exchange differences		(45)		480
Operating income		753,687		808,837
Financial expenses		29,978		29,223
Earnings before taxes	Ps.	723,709	Ps.	779,614
Income tax expense		15,014		15,680
Net Income	Ps.	708,695	Ps.	763,934
Net Earnings per Share	Ps.	31.81	Ps.	34.29

GRUPO AVAL ACCIONES Y VALORES S.A. Statement of Other Comprehensive Income (Stated in millions of Colombian pesos)

IFRS

Net income

Other comprehensive income (OCI), net of taxes

Investors participation in other comprehensive income reported using the equity method

Comprehensive income, net

	For the accumulated period
	March 31st	March 31st
	2020	2019
Ps.	708,695 Ps.	763,934

	225,280		131,806
Ps.	933,975	Ps.	895,740

GRUPO AVAL ACCIONES Y VALORES S.A.

Individual statement of cash flow

For the period ended as of march 31st 2020 and 2019 (Stated in millions of Colombian pesos)

		March 31st		March 31st
		2020		2019
Cash flow from operating activity:
Net Income	Ps.	708,695	Ps.	763,934
Adjustments to reconcile net profit with net cash
used in operating activities
Income tax expense		15,014		15,680
Property and equipment depreciation		434		421
Equity method earnings		(702,160)		(757,544)
Changes in operating assets and liabilities:
Decrease (Increase) in trading securities		204		(13,354)
Increase in receivables		(989)		-
Decrease in other assets and liabilities, net: prepaid taxes, prepaid
expenses; taxes, accounts payable,
employee liabilities, estimBDed liabilities and provisions.		(16,599)		(14,712)
Decrease in interests payable		(359)		(529)
interest payment by lease agreements		(115)		(142)
Dividends received		332,399		267,941
Income Tax paid		(7,130)		(1,468)
Net cash used in operating activities		329,394		260,227
Cash flow from investing activities:
Acquisition of property and equipment		(6)		(63)
Net cash used in investing activities		(6)		(63)
Cash flow from financing activities:
Dividends paid		(333,429)		(263,544)
Payment liabilities by lease agreements		(266)		(228)
Net cash from financing activities		(333,695)		(263,772)
Effect of exchange rate difference on cash		-		(450)
Change in cash and cash equivalents		(4,308)		(4,058)
Cash and cash equivalents as of the beginning of the period		51,299		38,667
Cash and cash equivalents as of the end of the period	Ps.	46,991	Ps.	34,609
Additional information:
Payment of Interest	Ps.	30,353	Ps.	29,725

GRUPO AVAL ACCIONES Y VALORES S.A.

Statement of shareholders' equity

For the period ended as of march 31st 2020 (Stated in million of Colombian pesos)

Retained earnings (losses)

Subscribed and paid	Paid-in Capital	Legal reserve	Occasional reserve	Retained earnings	Earnings (losses) in first-	Net Income	Other equity accounts	Shareholders' equity
capital	(losses)	time adoption

Balance as of December 31st, 2018

Ps.

22,281 Ps.

8,612,936 Ps.

11,140 Ps.

6,265,452 Ps.

(426,099)

Ps.

256,878 Ps.

2,887,749 Ps.

591,304

Ps.

18,221,641

Effect by accounting policies changes by adoption in IFRS 16

(5,101)

(5,101)

Balance as of January 01st, 2019

Ps.

22,281 Ps.

8,612,936 Ps.

11,140 Ps.

6,265,452 Ps.

(431,200)

Ps.

256,878 Ps.

2,887,749 Ps.

591,304

Ps.

18,216,540

Constitution of reserves for future distributions

2,887,749

(2,887,749)

-

To distribute a cash dividend of $ 5,00 per share per

month from April 2019 to March 2020 including those

(1,336,861)

(1,336,861)

two months, over 22,281,017,159 outstanding

shares as of the date of this meeting.

Application of the equity method

131,806

131,806

Net Income

763,934

763,934

Balance as of March 31st, 2019

Ps.

22,281 Ps.

8,612,936 Ps.

11,140 Ps.

7,816,340 Ps.

(431,200)

Ps.

256,878 Ps.

763,934 Ps.

723,110

Ps.

17,775,419

Balance as of December 31st, 2019

Ps.

22,281 Ps.

8,612,936 Ps.

11,140 Ps.

7,816,340 Ps.

(445,544)

Ps.

256,878 Ps.

3,031,238 Ps.

1,029,585

Ps.

20,334,854

Constitution of reserves for future distributions

3,031,238

(3,031,238)

-

To distribute a cash dividend of $ 5,00 per share per

month from April 2020 to March 2021 including those

(1,336,861)

(1,336,861)

two months, over 22,281,017,159 outstanding

shares as of the date of this meeting.

Application of the equity method

225,280

225,280

Dividends witholding tax

(718)

(718)

Net Income

708,695

708,695

Balance as of March 31st, 2020

Ps.

22,281 Ps.

8,612,936 Ps.

11,140 Ps.

9,510,717 Ps.

(446,262)

Ps.

256,878 Ps.

708,695 Ps.

1,254,865

Ps.

19,931,250