Daily Colombian Equities Bulletin and Fundamentals - February 27, 2014
Ideas get bigger when you share them...
February 28, 2014 (www.investorideas.com newswire) Latam markets were positive as Bovespa in Brazil increased 2.16% and Chilean IPSA index increased 0.37%. The local COLCAP index closed at 1495.01 pts., equivalent to a 0.44% increase; the total traded volume reached COP 128,019 million (~62 USD MM). The best performers were Canacol (+5.83%), Odinsa (+2.90%) and PfBancolombia (+1.89%). On the other hand, the worst performers were Mineros (-3.01%), PFGrupoArgos (-2.98%) and Exito (-1.72%). The most traded shares today were PfBancolombia, Ecopetrol and Pacific Rubiales.
Ecopetrol's 4Q13 conference call highlights: i) 2014's capex will be USD 10.595 mn, which will be founded from: cash flow, sell of non-strategic assets, 2013's debt issuance and financial markets. It is important to mention that Ecopetrol will not have a nequity issuance in 2014; ii) 2015 production target remains in 1 MMboed, with an important contribution from Castilla (200 kboed), Chichimene (100 kboed), Caño Sur and Acacias; iii) the expected oil sell price for 2014 is USD ~80/barrel.
Grupo Argos' 2013 revenues were COP 7.6 trillion, +14% YoY. Consolidated EBITDA was COP 1,9 trillion, +18% YoY. EBITDA margin stood at 25%. Consolidated net income was COP 295 billion, which is not comparable with 2012's, amid non-recurring extraordinary profits generated by asset sales made by Grupo Argos (COP 53 billion) and Cementos Argos (COP 277 billion pesos) in 2012. However, 2013's net income was positively affected by a non-recurring non operating income in Celsia of 115 billion pesos from a legal process with DIAN (Tax Regulatory Agency in Colombia). Excluding these effects, Grupo Argos' net income increase by 95%.
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.