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    NUTRESA   COT04PA00028

GRUPO NUTRESA S. A.

(NUTRESA)
  Report
End-of-day quote Bolsa De Valores De Colombia  -  2022-08-09
38720.00 COP   -3.20%
08/01TRANSCRIPT : Grupo Nutresa S. A., Q2 2022 Earnings Call, Aug 01, 2022
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07/29Grupo Nutresa S. A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
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Colombia's Grupo SURA to destine cash flow for paying down debt

05/16/2022 | 06:10pm EDT

BOGOTA, May 16 (Reuters) - Colombia's largest holding company, Grupo SURA, will use most of its forecast cash flow of around 250 billion pesos ($60.8 million) to reduce debt as costs grow amid rising interest rates, a top executive said on Monday.

The conglomerate, which holds stakes in 43 companies including bank Bancolombia, food processor Grupo Nutresa, and insurance company Suramericana, among others, saw its first-quarter profit more than double to 429.3 billion pesos ($104.4 million).

The company also expects to record a net profit for the year of around 1.7 trillion pesos, equivalent to growth of between 10% and 15%, said Ricardo Jaramillo, Grupo SURA's vice president of business development and finance.

"We are focused on maintaining organic growth and also how to accelerate the de-leveraging of Grupo SURA, so in this allocation of capital, the use of those 250 billion pesos will very surely be destined towards lowering debt," Jaramillo said in a telephone interview with Reuters.

"We're aware that we're in an environment of rising interest rates which is going to have some impact on companies' debt costs," he added. "We must be careful not to increase debt at this time."

Grupo SURA's net financial debt closed the first quarter at 4.5 trillion pesos, down 4.4% compared to last December.

Grupo SURA's insurance subsidiary, Suramericana, will invest $80 million to $85 million this year across the nine countries it operates in Latin America with a focus on its operating model and technology, Jaramillo said.

Sura Asset Management will allocate approximately $60 million to developing new sales channels, products, and also use some funds for investing as seed capital, he added.

Despite difficulties caused by the war in Ukraine and lockdowns in China, Grupo SURA remains hopeful that its good run will continue, Jaramillo said.

The company has a presence in 11 countries in Latin America, with investments in sectors including finance, energy and infrastructure, as well as others. (Reporting by Nelson Bocanegra Writing by Oliver Griffin; Editing by Bernard Orr)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANCOLOMBIA S.A. 0.13% 37550 End-of-day quote.8.21%
GRUPO DE INVERSIONES SURAMERICANA S.A. -1.34% 39000 End-of-day quote.30.00%
GRUPO NUTRESA S. A. -3.20% 38720 End-of-day quote.35.20%
All news about GRUPO NUTRESA S. A.
08/01TRANSCRIPT : Grupo Nutresa S. A., Q2 2022 Earnings Call, Aug 01, 2022
CI
07/29Grupo Nutresa S. A. Reports Earnings Results for the Second Quarter and Six Months Ende..
CI
07/06Gilinski's bid for Colombian Grupo Argos declared void
RE
06/15GRUPO NUTRESA S A : EXTRAORDINARY ASSEMBLY JULY 1st - Summons extraordinary shareholders a..
PU
05/20Gilinski launches offer for up to 32.5% of Grupo Argos shares
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05/16Third Gilinski offer for Nutresa shares declared void
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05/16Colombia's Grupo SURA to destine cash flow for paying down debt
RE
05/02TRANSCRIPT : Grupo Nutresa S. A., Q1 2022 Earnings Call, May 02, 2022
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04/29Grupo Nutresa S. A. Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
04/25Gilinski acquires another 3% of SURA in third public offer
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More news
Financials
Sales 2022 14 430 B 3 383 M 3 383 M
Net income 2022 816 B 191 M 191 M
Net Debt 2022 - - -
P/E ratio 2022 20,7x
Yield 2022 2,45%
Capitalization 17 724 B 4 156 M 4 156 M
Capi. / Sales 2022 1,23x
EV / Sales 2023 1,20x
Nbr of Employees 22 702
Free-Float 13,3%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 38 720,00 COP
Average target price 28 997,98 COP
Spread / Average Target -25,1%
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Managers and Directors
Carlos Ignacio Gallego Palacio President & Chief Executive Officer
José Domingo Penagos Vásquez Chief Financial Officer & Vice President-Finance
Jaime Alberto Palacio Botero Independent Director
Maximiliano Londoño Arango Independent Director
Ricardo Fandiño de la Calle Independent Director
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