Investorideas.com – big ideas for global investors Search www.investorideas.com
   Member Access       Sign-up       Newsfeeds        Companies        Stock Directories       Research       Video       New Ventures   




EEB Company Alert: 2013 preliminary financial results continue to show a sound financial performance

Company Alert: EEB – Hold
2013 preliminary financial results continue to show a sound financial performance
Price: COP 1,440; Target Price: COP 1,800

Ideas get bigger when you share them...

March 4, 2014 (www.investorideas.com newswire) The company issued a press release with a brief summary of 2013 key financial figures. Based on this information, and financial figures as of Sep-13 we inferred the 4Q13 results, thus these could differ from the official financial results that we expect to be released in coming weeks.

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

Operating revenues in 4Q13 would have grown 21% y/y in line with our expectations. Meanwhile, the adjusted EBITDA (including dividends from non-controlled investments) would have increased 62% y/y, and stood 18% above our estimates for the quarter.

Non-operating results were positively affected by EEB's and TGI's debt restructuring in previous years, causing lower interest expense during the period. On the other hand, the devaluation of the COP caused FX losses coming from a higher value of USD-denominated financial debt.

Finally, 4Q13 net income showed an increase of 7.9% y/y, which was above our estimates as we expected a worst effect from FX losses in the quarter's net income. The BoD proposed to the shareholders meeting a dividend payment of COP 64.3 per share, equivalent to a 70% payout ratio.

Preliminary results continue to show the sound financial performance of the company. We will be waiting for more information about the full financial results; we expect the report to be released in the next two weeks.

Regards,
Credicorp Capital

DISCLAIMER

This report is property of IM Trust S.A. and/or Credicorp Capital Colombia S.A. Sociedad Comisionista de Bolsa and/or Credicorp Capital Perú S.A.A. and/or its subsidiaries (hereinafter jointly referred to as “Credicorp Capital”), therefore, no part of this the material or its content, nor any copy of it, may be altered in any way, transmitted, copied or distributed to any third party without prior and express written consent of Credicorp Capital.

In making this report, Credicorp Capital has relied on public information. Credicorp Capital has not verified the truthfulness, completeness or accuracy of the information accessed, nor has audited the information in any way. Accordingly, this report does not constitute a statement, assertion or guarantee (express or implied) as to the truth, accuracy or completeness of the information contained herein or any other written or oral information furnished to any person and/or their advisors.

Unless otherwise stated, the information used in this report is not confidential, nor constitutes privileged information that may mean the violation of the rules of the stock market, or that could mean failure to comply with copyright legislation.

This report is not intended and shall not be understood in any way as to: a) predict the future or guarantee a specific financial result; b) ensure the fulfillment of the scenarios described in it; c) be an investment advice or opinion that could be considered as Credicorp Capital recommendations.

The information contained in this report is only for referential purposes. While reading it, you should consider that the information contained in this report may be oriented to a specific segment of clients or investors, with a certain risk profile that may not be yours.

Unless otherwise stated, this report does not contain investment recommendations or other suggestions that may be understood to be given under the stock market intermediaries' special duty to clients classified as investors. When recommendations are made, the report will clearly specify the investors risk profile to which the recommendation is intended. Credicorp Capital can seek and/or conduct business with companies that are mentioned in the report, and they can also execute buying and selling transactions of shares that are mentioned.

It is important to state that the fluctuation in exchange rates can have adverse effects on investments values.

It is client responsibility to determine how to use the information contained in this report. Hence, the client is the sole responsible for investment decisions or any other operation he/she might perform in the stock market based on this report. In other words, the investment or operation result made by the client using the information contained in this report is of her/his sole responsibility. Credicorp Capital does not assume any responsibility, obligation or duty for any action or omission derived from the use of this document.

Credicorp Capital recommends to their clients to ask for professional advice from financial, legal, accounting, tax experts before adopting an investment decision. Under no circumstances the information contained in this report may be considered as a financial, legal, accounting or taxation opinion, neither as a recommendation or investment advice.

To View Complete Report: Nutresa

More Info:

This news is published on the Investorideas.com Newswire and its syndicated partner network

Publish Your News - Send a release
News now!

Get free news alerts: Sign up here

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.



Free News Alerts
Email:  

Read more News





TOP

Investor Ideas © 2000 - 2014 InvestorIdeas.com®, ECON

Free Investor Stock Alerts
Sign up here

login | logout | about us | contact | disclaimer / disclosure |
advertise | company profile directory | partners / links |
job search | privacy policy | trade | services | sitemap |