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    GRUPOSURA   COT13PA00086

GRUPO DE INVERSIONES SURAMERICANA S.A.

(GRUPOSURA)
  Report
End-of-day quote Bolsa De Valores De Colombia  -  2023-01-30
39000.00 COP   -0.05%
01/26Grupo De Inversiones Suramericana S A : Based on a sound and well-diversified portfolio of investments, Fitch Ratings maintains Grupo SURA's short- and long-term ratings.
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2022GRUPO DE INVERSIONES SURAMERICANA S.A. : Ex-dividend day for quarterly dividend
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2022Grupo De Inversiones Suramericana S A : 2022 Q3 Individual financial statements
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Colombia's Grupo SURA 2021 income forecast to grow 15%

08/24/2021 | 05:17pm EST

BOGOTA, Aug 24 (Reuters) - Grupo SURA, Colombia's largest investment company, could see income grow 15% this year, above initial projections, due to better performances by companies it owns stakes in, an executive said on Tuesday.

Grupo SURA's full-year profits are forecast at close to 2019 levels, when they reached 1.7 trillion pesos (about $442 million), said Ricardo Jaramillo, Grupo SURA's vice president of business development and finance.

The company's first-half net profit soared to 672.4 billion pesos ($173.8 million), double its full-year earnings in 2020, which crashed 80% versus 2019 amid the coronavirus pandemic.

In the first six months, the company's income rose 14.6% to 11.7 trillion pesos ($3.03 billion).

"The companies have good growth, they have good top-line income growth, liquidity and solvency is positive, there is a strong control of expenses, and that leads us to have better results," Jaramillo said in an interview with Reuters.

Grupo SURA is made up of insurer Suramericana and pension and investment funds manager Sura Asset Management. It also has stakes ranging between 20% and 50% in Bancolombia, Grupo Argos, and Grupo Nutresa.

Jaramillo's forecast for income to grow 15% is above the 8% to 10% growth forecast in March by Chief Executive Gonzalo Perez during a conversation with Reuters.

"We hope to continue the rest of the year with control of expenses that allows us at the end of the day to have a much higher profit than expected and closer to that of 2019," Jaramillo said.

Grupo SURA is cutting expenses, selling its non-strategic assets and reducing its debt levels, including advance payment of $300 million in bonds during the second quarter.

Grupo SURA was trading at 19,540 pesos a share on Tuesday, a far cry from its 32,000 pesos a share price in March 2020.

($1 = 3,867.73 pesos)

(Reporting by Nelson Bocanegra; Writing by Oliver Griffin; Editing by Dan Grebler)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANCOLOMBIA S.A. 0.00% 41900 End-of-day quote.-1.41%
GRUPO ARGOS S.A. -1.60% 9250 End-of-day quote.-2.53%
GRUPO DE INVERSIONES SURAMERICANA S.A. -0.05% 39000 End-of-day quote.-7.14%
GRUPO NUTRESA S. A. 0.91% 45380 End-of-day quote.1.98%
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Financials
Sales 2022 26 513 B 5 701 M 5 701 M
Net income 2022 1 468 B 316 M 316 M
Net Debt 2022 - - -
P/E ratio 2022 15,1x
Yield 2022 1,57%
Capitalization 19 633 B 4 222 M 4 222 M
Capi. / Sales 2022 0,74x
Capi. / Sales 2023 0,70x
Nbr of Employees 60 173
Free-Float 22,9%
Chart GRUPO DE INVERSIONES SURAMERICANA S.A.
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Grupo de Inversiones Suramericana S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends GRUPO DE INVERSIONES SURAMERICANA S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 39 100,00 COP
Average target price 30 575,00 COP
Spread / Average Target -21,8%
EPS Revisions
Managers and Directors
Gonzalo Alberto Perez Rojas President, Chief Executive Officer & Director
Ricardo Jaramillo Mejia Chief Financial & Business Development Officer
Jaime Arrubla Paucar Independent Director
Guillermo Villegas Ortega Independent Director
Maria Ximena Lombana Villalba Independent Director