The Board of Directors approved a dividend proposal of US$ 0.35 per share for 2024, 9.4% more than the previous year.
Grupo Sura reported its consolidated financial results to the market at the end of 2023. The company totaled revenues of $35.5 billion (US$9,033 million), $6.3 billion (US$1,603 million) more than the previous year, which represents a growth of 21.7% driven by premiums, commissions and the better results of investments.
Added to this is the fact that expenses grew below income, which is why operating profit reached a record figure of $4.6 trillion (US$1.17 billion), with a growth of 25.5% at the end of the year. anus. In this way, Grupo Sura closed the year with an adjusted net controlling income of $2.3 billion (US$585 million), with an increase of 11.7% compared to 2022 and the highest in the company's history.
This figure excludes non-recurring accounting effects of $778 billion (US$197 million), associated with the Nutresa transaction and the divestitures of Suramericana in Argentina and El Salvador.
At the accounting level, controlling net income closed 2023 at $1.5 trillion (US$381 million). This allowed the company to continue on a growing path and achieve an adjusted return on equity (adjusted ROE) of 10.2%, the highest in the last six years.
For Grupo Sura, the results are “a sample of the trust of people and companies in our companies in Latin America. The controlling net income of $2.3 billion (US$585 million) reaffirms our strength and our commitment to creating value for our shareholders.
During the last year we continued to strengthen the balanced management of economic, social, human and natural capital, as an investment manager committed to a genuine way of doing business,” said Gonzalo Pérez, company president.
With these results, the group's Board of Directors, in a session on February 29, approved bringing to the General Assembly of Shareholders, on March 22, a dividend proposal of $1,400 (US$ 0.35) per share, a 9.4% higher than the previous year. During the last 6 years, the ordinary dividend has presented a compound annual growth of 18%.
SURA GROUP IN DATA:
- During 2023 it received dividends from its investments for $1.8 trillion (US$458 million), 60.9% more than at the end of the previous year and the highest in history.
- The company had a cash flow that allowed it to pay dividends to its shareholders for $774,000 million (US$196 million), as well as reduce the ratio of net debt to dividends received from 3.9 times in 2022, to 3. 1 times at the end of 2023.
- Based on the results of the last year and due to the profits from the sale of Nutresa, it is estimated that at the end of 2024 the profit per share will be between $12,000 (US$3.05) and $13,000 (US$3.05). ,30).
- Grupo Sura plans to receive dividends close to $2 billion (US$508 million) and have an operating flow close to $1 billion (US$254 million), which gives it sufficient flexibility to continue meeting its commitments to shareholders and creditors , in addition to maintaining adequate debt levels.
RECENT COMPANY HIGHLIGHTS
1. Credit risk ratings: in January Fitch Ratings ratified the Company's long and short-term ratings at “AAA” and “F1+”, respectively, with a stable outlook. Along the same lines, S&P ratified its “BB+” rating and modified the outlook from stable to negative, reflecting the effect of the adjustment to Colombia's sovereign outlook.
2. Agreement for Nutresa: on February 6, the first moment of the exchange of shares contemplated in the Framework Agreement with the Gilinski Group was carried out, in which Grupo Sura and Grupo Argos handed over their participation in Nutresa and received in exchange their own shares and the Portfolio Society.
3. Progress in decarbonization: in 2023 the quantification of the baseline of financed emissions for the Colombian company and its subsidiaries was completed in order to advance the design of its decarbonization strategy.
