AVAL FY 2011 Earnings Report — Grupo Aval Acciones y Valores S.A. Revenue & Financial Results | Market Cap Arena

Grupo Aval Acciones y Valores S.A.AVAL

FY 2011 Earnings

Reported April 30, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$3.1B	—	$2.5B	—	26.1%
Op. Income	$978M	—	$742M	—	31.8%
Gross Margin	67.9%	—	68.9%	—	-1.0pp
Net Margin	11.6%	—	10.9%	—	0.8pp
EPS (Diluted)	$3.88	—	$2.88	—	34.9%
Free Cash Flow	$1.1B	—	$623M	—	75.8%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$992M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$944M
SG&A Expenses	$944M
Other Expenses	$178M
Operating Expenses	$1.1B
Cost & Expenses	$2.1B
OPERATING INCOME	$978M
Interest Income	$2.3B
Interest Expense	$748M
Other Income/Expenses	$0
INCOME BEFORE TAX	$978M
Income Tax Expense	$317M
Net Income from Continuing Ops	$661M
Net Income from Discontinued Ops	$0
Other Adjustments	-$279
NET INCOME	$360M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$360M
D&A	$103M
EBIT	$978M
EBITDA	$1.1B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$992M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$944M
SG&A Expenses	$944M
Other Expenses	$178M
Operating Expenses	$1.1B
Cost & Expenses	$2.1B
OPERATING INCOME	$978M
Interest Income	$2.3B
Interest Expense	$748M
Other Income/Expenses	$0
INCOME BEFORE TAX	$978M
Income Tax Expense	$317M
Net Income from Continuing Ops	$661M
Net Income from Discontinued Ops	$0
Other Adjustments	-$279
NET INCOME	$360M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$360M
D&A	$103M
EBIT	$978M
EBITDA	$1.1B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$360M
Depreciation & Amortization	$103M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$280M
Change in Working Capital	$578M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$226M
Acquisitions (Net)	-$41M
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$3.1B
NET CASH FROM INVESTING	-$3.8B
Net Debt Issuance	$837M
Common Stock Repurchased	$0
Common Dividends Paid	-$169M
Other Financing Activities	$1.8B
NET CASH FROM FINANCING	$3.1B
FREE CASH FLOW	$1.1B
Net Change in Cash	$562M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.3B
Short-Term Investments	$0
Net Receivables	$623M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$581M
Goodwill	$867M
Intangible Assets	$0
Long-Term Investments	$5.3B
Tax Assets	$0
Other Non-Current Assets	-$6.7B
TOTAL NON-CURRENT ASSETS	$6.7B
TOTAL ASSETS	$31.1B
Account Payables	$421M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$952M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$5.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$5.9B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$28.8B
Common Stock	$4M
Additional Paid-In Capital	$1.0B
Retained Earnings	$837M
Treasury Stock	$526M
Accum. Other Comp. Income	$409M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$1.4B
TOTAL EQUITY	$3.6B
TOTAL LIABILITIES & EQUITY	$31.1B
Total Debt	$5.9B
Net Debt	$2.7B