|By PR Newswire||
|April 25, 2014 05:53 PM EDT||
-- The Company reported operating revenues totaling COP 183,211 (USD 93.0 million).
-- Assets at March 31, 2013 came to COP 22.6 billion (USD 11.5 billion), showing an increase of 7.6% compared to year-end 2013.
MEDELLIN, Colombia, April 25, 2014 /PRNewswire/ -- Grupo SURA has presented its financial results for the first quarter of this year, showing operating revenues of COP 183,211 (USD 93.0 million) and net profits of COP 148,050 million (USD 75.2 million). Assets came to COP 22.6 billion (USD 11.5 billion), showing increases of 2.6% compared to the same period last year and 7.6% versus year-end 2013. Shareholders´ equity at the end of this first quarter came to COP 20.9 billion (USD 10.6 billion), which was 3.0% higher than for year-end 2013.
These results mirrored a good level of performance on the part of GRUPO SURA´s subsidiaries which contributed with a total of COP 102,095 million (USD 51.8 million) this past quarter, posted via the equity method. Suramericana, the Group´s insurance and social security subsidiary contributed with COP 62,936 million (USD 31.2 million) and SURA Asset Management, our pension, savings and investment fund management subsidiary provided another COP 64,529 million (USD 32.8 million).
Overall results for this past quarter showed an increase in liabilities due to the financing obtained for the acquisition of preferred shares in Bancolombia back in March of this year. This produced a debt ratio of 4.7%. On the other hand, the Colombian Superintendency of Finance has given its authorization for an issue of Ordinary Bonds and/or Commercial Paper for up to COP 1.3 billion. This new issue of bonds to be placed in stages, the first for almost 50% of the total amount authorized, shall be used to restructure the Company's debt, providing it with more flexibility in taking full advantage of market opportunities or advancing its expansion plans.
As we recently announced, Fitch ratings has given this forthcoming issue an "AAA" rating. In its corresponding report, Fitch Ratings highlighted the sound credit profile of all those companies from which the Group obtains a steady stream of dividends as well as an adequate debt debt-service coverage ratio, historically low leverage ratios together with adequate liquidity and the capacity to access alternate sources of financing.
On the other hand, Grupo Sura´s subsidiary, SURA Asset Management S.A. announced the terms and conditions of its first ever issue of corporate bonds on the international markets worth a total of USD 500 million. The value of the bids received came to a total of USD 4,281 million, almost 9 times the amount offered.
ABOUT GRUPO SURA
Grupo de Inversiones Suramericana –GRUPO SURA- is a Latin American company listed on the Colombian Stock Exchange and registered with the ADR- Level 1 program in the United States. We are also the only entity from Latin American diversified financial services sector to be admitted to the Dow Jones Sustainability Index (DJSI), which monitors companies who have become global benchmarks thanks to the good practices they have adopted from the economic, environmental and social standpoints. GRUPO SURA holds two types of investments, the first being its strategic investments in the financial service, insurance, social security as well as complementary service sectors; and the second corresponds to its portfolio investments in the processed food, cement and energy sectors.
Luis Felipe Posada Jimenez
Grupo de Inversiones Suramericana
(574) 260 21 00 Ext. 2571
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Dec. 1, 2015 01:15 PM EST Reads: 301
Cloud computing is unquestionably one of the driving forces of DevOps, as the automation of operations transforms enterprise software development. DevOps, however, is more than a technology trend, as it represents a move toward silo-busting, self-organizing horizontal teams that drive business velocity. At the same time, enterprise Digital Transformation represents an upheaval across the enterprise, as customer preferences and behavior drive enterprise technology decisions. This transformation ...
Dec. 1, 2015 12:35 PM EST
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
Dec. 1, 2015 12:15 PM EST
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Dec. 1, 2015 12:00 PM EST Reads: 230
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Dec. 1, 2015 12:00 PM EST Reads: 306
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Dec. 1, 2015 11:45 AM EST Reads: 373
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Dec. 1, 2015 11:45 AM EST Reads: 472
Actifio is powering new application development and testing services from Net3 Technologies (N3T), a managed cloud services provider. N3T's new Symmetry DevOps™ service builds on its existing Palmetto Virtual Data Center (PvDC) Cloud services for data backup and disaster recovery (DR) based on the Actifio Copy Data Virtualization platform. Previously, N3T's data protection and DR services were challenged by overlapping and inefficient legacy hardware and software platforms from multiple vendo...
Dec. 1, 2015 11:30 AM EST
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Dec. 1, 2015 11:00 AM EST Reads: 138
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
Dec. 1, 2015 11:00 AM EST Reads: 514
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
Dec. 1, 2015 10:45 AM EST Reads: 131
In demand-intensive mobile and web applications, an emerging pattern is to host the Systems of Engagement in the cloud (for maximum responsiveness) but keep the Systems of Record with the other important business systems in the company datacenter, often on a tightly secured mainframe. But what about the space in between? In this IBM Redpaper publication, we show that the IBM Bluemix cloud platform offers technologies that make it easy for cloud-based SoEs to securely connect to on-premises IBM...
Dec. 1, 2015 10:19 AM EST
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
Dec. 1, 2015 10:00 AM EST Reads: 577
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Dec. 1, 2015 09:00 AM EST Reads: 482
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Dec. 1, 2015 08:00 AM EST Reads: 396