Daily Colombian Equities Bulletin and Fundamentals 7-31-14
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August 1, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,694 points (-0.94%). Total turnover reached USD 219 mm. The best performers were Valorem (+4.41%), Pacific Rubiales (+1.64%) and Occidente (+1.27%). On the other hand, the worst performers were Enka (-4.10%), PfCemargos (-2.75%) and PfGrupoSura (-2.75%).
Today Ecopetrol will release its 2Q14 results.
Nutresa | 2Q14 Results
Grupo Nutresa continues with excellent performance in the first half of the year, supported in higher sales and very positive levels of profitability.
- Sales in Colombia grew by 7.7% over the first half of last year, amounting to COP 1,972.4 billion.
- International sales represented 34.3% of Grupo Nutresa's total sales, closing at USD 526 million, an increase of 24.8%.
- Total sales were COP 3,002.4 billion, representing a growth of 14.9%.
- The EBITDA grew by 11.1% and was COP 417.7 billion, representing a margin on sales of 13.9%.
- As of the second quarter, Grupo Nutresa has consolidated its operating results in Venezuela at the rate indicated by SICAD II (Sistema Cambiario Alternativo de Divisas = Alternative Currency Exchange System).
- Grupo Nutresa continues to evolve in the consumer market for food outside the home with the opening of the first Starbucks store in Colombia.
According to the project of distribution of profits for the 1H14, the company will pay out a cash dividend of COP 342/share, payable in six monthly fees, and a stock dividend of COP 1,034.8/share (1:36.634284), payable on October 27, 2014. The total dividend of COP 1,376.8/share is 15% higher than the declared based on profits 2H14 (COP 1201.15/share) and both correspond to an annualized yield of 6.7% at closing prices. Source: SuperFinanciera
The company ended the 2Q14 with a backlog (balance of work to be performed) of COP 2 bn, equivalent to 2.5 years of revenue, an increase of 30% in the square meters of leasable area. The operating profit of the company was affected by the displacement of some income and real estate portfolio of concessions to the second half of 2014. Likewise, net income was affected by this decline and higher expense involving investments in the real estate portfolio. Source: SuperFinanciera
The company will publish the full report of results tomorrow, Friday August 1.
Moody's changed the outlook on ETB's ratings to stable from negative and, at the same time, affirmed ETB's Ba1 senior unsecured and corporate family ratings. Source: Bloomberg
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