Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Q3 2016 Earnings Presentation
38 slides from Grupo De Inversiones Suramericana's earnings presentation, 2016
Slide 1: Corporate Presentation 3Q 2016
Corporate Presentation 3Q 2016 1
Slide 2: Disclaimer
DISCLAIMER the forward-looking statements contained herein are based on Management’s current forecasts and outlook. For better illustration and decision-making, figures for Suramericana, SURA Asset Management and its subsidiaries are administrative rather than accountant, and therefore may differ fr
Slide 3: Agenda
AGENDA GRUPO SURA STRATEGY GRUPO SURA CONSOLIDATED RESULTS SURA ASEGURAMIENTO, TENDENCIAS Y RIESGOS SURAMERICANA S.A INSURANCE AND SOCIAL SECURITY SURA ASSET MANAGEMENT PENSIONS, SAVINGS AND ASSET MANAGEMET BANCOLOMBIA, GRUPO ARGOS AND GRUPO NUTRESA 3
Slide 4: Grupo SURA Main Figures
GRUPO SURA MAIN FIGURES INTERNATIONAL AS OF SEPTEMBER 2016 INVESTMENT GRADE MARKET CAP ~ 44 Fitch BBB S&P BBB MILLION CLIENTS Local Rating: CONSOLIDATED Fitch AAA REVENUES USD 7.5 BILLION USD 4.7 BILLION + 34.4 % vs. 3Q 2015 USD ~178 BILLION Colombian company with the longest bond maturity 40 years
Slide 5: Grupo SURA Strategy
GRUPO SURA STRATEGY Lima 5
Slide 6: Focus on Strategic Sectors
FOCUS ON STRATEGIC SECTORS FINANCIAL INVESTMENTS INDUSTRIAL INVESTMENTS 81.1% 78.7% 46.4% 35.2% 35.7% PROCESSED CEMENT, ENERGY FOOD INFRASTRUCTURE INSURANCE AND PENSIONS, UNIVERSAL BANKING SOCIAL SECURITY AND REAL ESTATE SAVINGS AND INVESTMENT OTHER INVESTMENTS *Stake in common shares As of Septembe
Slide 7: Strategy
STRATEGY COMPREHENSIVE RANGE OF SERVICES GEOGRAPHIC EXPANSION AND MARKET AND SYNERGIES DEVELOPMENT • Organic and inorganic growth based on our regional • New customer-focused goals presence in both the current and target markets. Development of our • Strengthening our group dynamics and • Extending
Slide 8: Dividends
DIVIDENDS Grupo Argos 6.5% Other 7.7% Uruguay Grupo Nutresa 0.8% 8.0% Peru 11.4% 345 USD USD Bancolombia 21.5% 345 MILLION Mexico 13.9% MILLION BY COMPANY BY COUNTRY Colombia SURA Asset 40.4% Management Chile 25.8% Suramericana 53.9% 10.1% 400 345.1 350 DIVIDEND EVOLUTION 281.9 300 250 208.4 190.4 2
Slide 9: Cash Flow Generation
CASH FLOW GENERATION Grupo SURA generates close to USD 200 million for debt and dividend payment, and for investments 2016 (E) (1) 50 90 359 308 219 219 Dividends and Operating Operating Interest Cash Other Income Expenses Cash Flow Available Figures in USD million (1) FX = COP 2,880.08 per USD
Slide 10: Shareholders
SHAREHOLDERS 10.0% 10.5% Grupo Argos and 3.6% 4.5% subsidiaries 28.3% Grupo Nutresa 34.7% Colombian Pension 20.4% (COMM) (COMM+PREF) Funds 21.6% International Funds 10.3% Retail Investors 18.6% 12.7% 24.9% Institutional Investors TREND IN INTERNATIONAL INVESTORS 17.4% 20.5% 21.6% 700 14.3% Outstandi
Slide 11: Corporate Governance and Sustainability
CORPORATE GOVERNANCE AND SUSTAINABILITY HIGH CORPORATE STANDARDS Code of Good Governance in accordance with international practices. The Board of Directors has 7 members of which 4 are independent. The chairman and vice-chairman are independent. Main committees that oversee the corporate governance
Slide 12: Corporate Responsibility
CORPORATE RESPONSIBILITY SOCIAL DEVELOPMENT active role in a wide range of social development programs either in the form of institutional donations or the volunteer work of Grupo SURA’s employee. BUSINESS MANAGEMENT Practices used to obtain our corporate goals. A COMPREHENSIVE VIEW OF OUR CORPORATE
Slide 13: Business Model Focused on Clients
BUSINESS MODEL FOCUSED ON CLIENTS Comprehensive service offer designed to satisfy the VOLUNTARY SAVINGS different needs through the life cycle. Strategies and synergies to strengthen the retention of our clients VALUE OFFER Life Cycle $ MANDATORY UNIVERSAL Universal Banking PENSIONS 44 MILLION BANKI
Slide 14: Strategic Business Expansion
MÉXICO REPÚBLICA DOMINICANA GUATEMALA EL SALVADOR PANAMÁ STRATEGIC BUSINESS EXPANSION COLOMBIA New presence including the RSA acquisition BRASIL PERÚ STRATEGIC INVESTMENTS CHILE URUGUAY 44 MILLION CLIENTS ARGENTINA 14
Slide 15: Demographic Fundamentals
DEMOGRAPHIC FUNDAMENTALS YOUNG AND GROWING POPULATION 364 MM de 559 MM Age 2010 people over 20 2050 people over 20 100+ 90 – 94 7% 19% Annuities 80 – 84 70 – 74 INTERESTING DEMOGRAPHIC 60 – 64 EVOLUTION IN LATAM(1) accumulation 50 – 54 51% Savings and 47% period 40 – 44 30 – 34 20 – 24 10 – 14 0–4 -
Slide 16: Financial Services Penetration
FINANCIAL SERVICES PENETRATION 83.0% 84.4% 195.1% 167.1% 68.3% PENSION PENETRATION (% GDP) BANKING PENETRATION (% GDP) 89.3% 31.6% 76.5% 19.8% 19.9% 20.8% 23.5% 47.6% 43.6% 15.7% 11.0% 31.4% 23.1% 27.1% 45.3% 24.0% 0.9% USA WA OECD* Uruguay El Salvador Dom. Republic Peru Mexico Colombia USA Europe E
Slide 17: Grupo SURA Consolidated Results 3Q
GRUPO SURA CONSOLIDATED RESULTS 3Q Panama 17
Slide 18: Statement of Financial Position Consolidated
STATEMENT OF FINANCIAL POSITION CONSOLIDATED 22,580 19,282 ASSETS SHAREHOLDER’S EQUITY 13,939 LIABILITIES 10,233 9,049 8,641 2015 2015 2016 2016 ASSETS sep-16 Var. $MM % Change Cash and cash equivalents 663 165 33.2% dec-15 + 3,298 19,282 Investments 8,619 1,076 14.3% 17.1% Accounts receivable 1,757
Slide 19: Statement of Financial Position Consolidated
STATEMENT OF FINANCIAL POSITION CONSOLIDATED LIABILITIES TOTAL SHAREHOLDER’S EQUITY + 3,706 MM dec-15 9,049 dec-15 10,233 36.2% -408 MM Ex-RSA -4.5% + 1,854 MM 18.1% sep-16 8,641 sep-16 1,852 13,939 0.0 5,000 .0 10 , 00 0.0 15 , 00 0.0 20 , 00 0.0 25 , 00 0.0 0.0 5,000 .0 10 , 00 0.0 15 , 00 0.0 20
Slide 20: Statement of Comprehensive Income Consolidated
STATEMENT OF COMPREHENSIVE INCOME CONSOLIDATED sep-16 Var. $ % Var % / Revenues + 1,204 Retained premiums (net) 2,610 734 39.1% 55.5% sep-15 3,499 34.4% Commission income 556 61 12.2% 11.8% Revenues on services rendered 590 92 18.5% 12.5% TOTAL Ex-RSA REVENUES Investment income 556 224 67.4% 11.8% R
Slide 21: Debt Grupo SURA
DEBT GRUPO SURA Repos 1.5% USD COP Banks 36.8% 63.2% 22.4% TYPE OF CURRENCY DEBT EXPOSURE* Bonds 76.1% DEBT MATURITY PROFILE 550 Banks 300 International Bonds 219 Local Bonds 100 78 33 55 35 34 35 34 - - - - 2016 2017 2018 2019 2020 2021 . 2023 . 2026 . 2029 2030 . 2049 21 Figures in USD Million *In
Slide 22: Suramericana S.A Consolidated Results 3Q
SURA ASEGURAMIENTO, TENDENCIAS Y RIESGOS SURAMERICANA S.A CONSOLIDATED RESULTS 3Q Bogotá 22
Slide 23: Suramericana S.A
MEXICO 1 2.3 % DOMINICAN REPUBLIC (Ranking 5) 1.4M 8.6% 0.1M EL SALVADOR (Ranking 2) PANAMA (Ranking 4) 19.3% 0.6M 9.1% 0.2M SURAMERICANA S.A COLOMBIA (Ranking 1) 3 Market Share 23.8% + 3% 11M Clients BRASIL PREMIUM BREAKDOWN BY COUNTRY 20154 1M Salv ador Uruguay Panama 3.0% 1.9% 3.2% Dom. Rep. 1.8%
Slide 24: Suramericana Consolidated Figures
SURA ASEGURAMIENTO, TENDENCIAS Y RIESGOS SURAMERICANA S.A CONSOLIDATED FIGURES sep-16 Var. $ % Var % / Revenues + 924 Retained premiums (net) 1,888 650 52.5% 66.5% sep-15 1,914 48.3% Revenues on services rendered 546 88 19.2% 19.2% TOTAL Ex-RSA Investment income 295 144 94.9% 10.4% REVENUES Main var
Slide 25: Segments Premiums and Claims Ratio
SEGMENTS PREMIUMS AND CLAIMS RATIO LIFE HEALTH CARE Premiums Retained Claims Ratio Other Services rendered Claims Ratio RSA 4.4% sep-16 %Var sep-16 sep-15 1.1% Life sep-16 %Var sep-16 sep-15 18.9% Life 190 10.9% 24.9% 20.0% EPS 501 20.5% 93.4% 94.4% ARL (worker Group Life 136 6.6% 39.0% 31.5% comp.)
Slide 26: SURA Asset Management Consolidated Results 3Q
SURA ASSET MANAGEMENT CONSOLIDATED RESULTS 3Q Santiago de Chile 26
Slide 27: SURA Asset Management
MEXICO (Ranking 3) 25.2Bn 15.1% USD 6.3M 3,025 SURA ASSET MANAGEMENT Nº1 in Pensions in Latinamerica EL SALVADOR (Ranking 2) COLOMBIA (Ranking 2) USD 4.2Bn 47.2% 1.42M 302 USD 25.2Bn 36.6% 5.3M 1,872 AUM Market Share PERÚ (Ranking 1) Clients USD 17.8Bn 40.0% 2.1M 1,280 Employees CHILE (Ranking 4) US
Slide 28: SURA Asset Management Consolidated Figures
SURA ASSET MANAGEMENT CONSOLIDATED FIGURES sep-16 Var. $ %Change %/Revenue Retained premiums (net) 722.5 83.8 13.1% 46.6% sep-15 1,280.3 Commission income 490.8 35.7 7.8% 31.6% +270.9 MM TOTAL Investment income 290.8 122.6 72.9% 18.7% 21.2% REVENUES Revenues via equity method 30.0 4.5 17.8% 1.9% Exc
Slide 29: Mandatory Pension Market Figures
MANDATORY PENSION MARKET FIGURES ASSETS UNDER MANAGEMENT FUND MEMBERSHIP (MM) 5.4% -5.6% 3.0% 12.1% 13.9% 1.4% 4.3% -2.7% 17.5% -0.6% 1.3% 2.9% 4.8% 7.7% 6.8% 16.1% 16.3% 17.2% 13.9% 8.7% 12.1% 15.8 17.0 102,429 98,213 7.2 33,757 24,500 6.2 32,016 21,602 16,010 4.0 4.2 22,888 21,506 15,542 4,334 1.8
Slide 30: Mandatory Pension Main Figures
MANDATORY PENSION MAIN FIGURES COMMISSION INCOME RETURN ON ENCAJE 11.9% 1.5% 11.0% 11.9% 7.3% 2.4% 2.7% 2.5% 11.4% 2.9% 449.5 45.0% 0.0% 0.0% 18.8% 693.6% 418.9 32.7% 0.0% 18.3% 575.6% 39.1 0.0% 177.2 179.9 16 14 132.6 148.4 102.9 11 9 92.7 16.4 18.3 1 1 5 Chile Mexico (4) (2) Peru Uruguay Total Chi
Slide 31: Voluntary Savings Segment Market Figures
VOLUNTARY SAVINGS SEGMENT MARKET FIGURES ASSETS UNDER MANAGEMENT CLIENTS (THOUSANDS) 6.6% 20.8% 14.3% 66.0% 8.5% 10.4% 13.7% -3.9% 72.3% 73.6% 11.5% 9.6% 15.1% 11.5% 20.0% 9,432 912 18.3% 94.6% 81.6% 826 8,608 3,495 3,360 401 2,835 3,222 1,770 1,973 376 263 285 481 828 176 28 49 145 35 40 6 10 Chile
Slide 32: Voluntary Savings Segment Main Figures
VOLUNTARY SAVINGS SEGMENT MAIN FIGURES COMMISSION INCOME NET PREMIUMS WITH SAVINGS 20.7% 4.8% 22.9% 56.7% 0.0% 14.2% 26.9% 161.2% 147.8% 31.8% 13.5% 0.0% 9.2% 41.0 16.1% 164.1% 129.0% 20.6% 231.3 10.4% 6.0% 56.0% 213.9 35.9 168.6 175.6 21.1 17.5 15.7 16.5 2.4 3.0 17.1 0.2 0.3 0.0 0.0 0.2 0.4 6.9 Chi
Slide 33: Insurance Segment Main Figures
INSURANCE SEGMENT MAIN FIGURES NET PREMIUMS ADJUSTMENTS TO RESERVES 20.1% 13.8% -37.1% 6.1% 18.0% 10.5% -44.8% 3.3% 9.9% 15.1% -0.7% 8.0% 11.7% -49.0% -3.6% -41.9% 491 463 314 261 Chile Mexico Peru Total -48 -70 -78 -86 99 113 103 65 -248 Chile Mexico Peru Total -293 -405 -418 RETAINED CLAIMS NET IN
Slide 34: Bancolombia, Grupo Nutresa and Grupo Argos
BANCOLOMBIA, GRUPO NUTRESA AND GRUPO ARGOS Medellín 34
Slide 35: Bancolombia
BANCOLOMBIA • Leading franchise in Colombia an Central America, markets with attractive growth perspectives • Focus on growth in profitable segments MAIN FIGURES • Preserves a culture of conservative risk management, maintaining sound levels of capital and liquidity • ADR Level 3 USD 66.4 Bn 23.4 %
Slide 36: Grupo Argos
GRUPO ARGOS STRATEGIC OPERATIONS Cement Energy Ports Coal Real Estate Infrastructure MAIN FIGURES Holding 22.0% Cement 41.0% USD 950 MM USD 5.2 Bn EBITDA MARKET CAP Real Estate 1.0% DISTRIBUCIÓN Port Facilities 1.0% EBITDA 25.3 % EBITDA 7.0 % DIVIDEND GROWTH 2015-16 MARGIN Infrastructure 11.0% Energ
Slide 37: Grupo Nutresa
GRUPO NUTRESA • Leader in the processed food industry in Colombia and the fourth* largest in Latin America • Presence in 15 countries with production plants in 12 of them • In 2013 it acquired Tresmontes Lucchetti, the second largest processed food company in Chile. It also made a joint venture with
Slide 38: Investor Relations Contacts
CEO: DAVID BOJANINI CFO: RICARDO JARAMILLO IR MD: JUAN CARLOS GOMEZ IR Specialist: MARIA ADELAIDA OCHOA E-mail: ir@gruposura.com.co Phone: (574) 4355941 www.gruposura.com.co GRUPO SURA App Para dispositivos móvil (App Store – Google Play) 38
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