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Presentación De Powerpoint Desayuno con Bancolombia Acciones Bancolombia - Tablas y Gráficos Dirección de Investigaciones Económicas, Sectoriales y de 25 de marzo del 2021 Mercados Desayuno con Bancolombia Mercado accionario Evolución índice COLCAP Desempeño mercados Latam* 1,800 YTD 1 Año INDICE Cierre 1 Día YTD 1 Año 1,700 USD USD 1,600 1,500 COLCAP 1,325 0.4% -7.5% -13.7% 43.5% 61.7% 1,400 BOVESPA 112,064 -1.1% -5.8% -13.0% 60.7% 45.8% 1,300 1,200 IPSA 4,842 0.8% 15.9% 13.1% 67.3% 94.4% 1,100 1,000 SPBLPGPT 21,497 -0.1% 3.2% 0.4% 50.9% 42.7% 900 800 MEXBOL 46,703 0.1% 6.0% 0.7% 35.1% 60.3% mar.-19 jul.-19 nov.-19 mar.-20 jul.-20 nov.-20 mar.-21 Fuente: Grupo Bancolombia, Thomson Reuters Fuente: Grupo Bancolombia, Thomson Reuters *Al nivel de cierre de la última sesión Colcap vs región andina Colcap vs Bovespa & Mexbol Colcap IPSA (Chile) SPBLPGPT (Perú) Colcap Mexbol (México) Bovespa (Brasil) 180 200 160 180 140 160 140 120 120 100 100 80 80 mar.-20 jun.-20 sep.-20 dic.-20 mar.-21 mar.-20 jun.-20 sep.-20 dic.-20 mar.-21 Fuente: Grupo Bancolombia, Thomson Reuters Fuente: Grupo Bancolombia, Thomson Reuters Principales Valorizaciones del COLCAP* Principales retrocesos del COLCAP* Precio de Variación Precio de Variación Especie Especie cierre diaria cierre diaria ETB 218 3.22% Celsia 4,723 -1.23% Terpel 7,990 2.44% Éxito 13,590 -1.16% Ecopetrol 2,333 2.28% Grupo Aval PF 1,158 -1.03% Davivienda PF 30,280 1.58% Grupo Sura 21,900 -0.45% Grupo Argos 11,650 1.39% Corficol 32,160 -0.43% Fuente: Grupo Bancolombia, Thomson Reuters Fuente: Grupo Bancolombia, Thomson Reuters *Al nivel de cierre de la última sesión *Al nivel de cierre de la última sesión Desayuno con Bancolombia Mercado accionario Saldos REPOS en Acciones Número de REPOS y acciones en circulación 1,800 Cantidad de Acciones en Especie % 1,600 Acciones en REPO Circulación 1,400 CORFICOLCF 2,036,143 306,642,525 0.7% 1,200 PFAVAL 47,139,997 7,143,227,185 0.7% GRUPOARGOS 2,523,051 645,400,000 0.4% 1,000 CEMARGOS 3,609,416 1,151,672,310 0.3% 800 PFBCOLOM 1,087,108 452,122,416 0.2% 600 NUTRESA 1,078,008 460,123,458 0.2% 400 GRUPOSURA 819,969 469,037,260 0.2% Miles de Millones Miles Millones de COP 200 CELSIA 1,446,428 1,069,972,554 0.1% 0 BCOLOMBIA 254,737 509,704,584 0.0% mar.-11 mar.-13 mar.-15 mar.-17 mar.-19 mar.-21 GEB 4,221,193 9,181,177,017 0.0% Fuente: Grupo Bancolombia, BVC Fuente: Grupo Bancolombia, BVC Acciones bajo cobertura Dividendo Última Precio Objetivo 2021 Dividend Retorno Emisor 24-mar. Propuesto Recomendación Revisión Yield Total Base Var (%) 2021 Esperada COLCAP 1,325 nov.-20 1,490 12.4% 3.3% Bogotá $ 78,400 nov.-20 $ 90,700 15.7% $ 3,336 4.3% 19.9% Sobreponderar Canacol $ 10,230 nov.-20 $ 16,400 60.3% $ 547 5.3% 65.7% Sobreponderar especulativo Celsia $ 4,723 nov.-20 $ 5,310 12.4% $ 262 5.5% 18.0% Neutral Cemargos $ 5,025 nov.-20 $ 7,000 39.3% $ 128 2.5% 41.8% Sobreponderar CLH $ 4,050 feb.-21 $ 7,950 96.3% $ - 0.0% 96.3% Sobreponderar Conconcreto $ 465 nov.-20 N.A N.A $ - N.A N.A Bajo Revisión Corficol $ 32,160 dic.-20 $ 32,400 0.7% $ 2,042 6.3% 7.1% Subponderar Davivienda $ 30,280 nov.-20 $ 31,500 4.0% $ 321 1.1% 5.1% Subponderar Ecopetrol $ 2,333 feb.-21 $ 2,580 10.6% $ 17 0.7% 11.3% Sobreponderar El Cóndor $ 1,038 nov.-20 $ 3,410.0 228.5% $ 24 2.3% 230.9% Sobreponderar ENKA $ 16 nov.-20 $ 25 63.3% $ - 0.0% 63.3% Sobreponderar ETB $ 218 nov.-20 $ 350 60.6% $ - 0.0% 60.6% Sobreponderar especulativo GEB $ 2,606 nov.-20 $ 2,500 -4.1% $ 178 6.8% 2.8% Subponderar Grupo Argos $ 11,650 nov.-20 $ 16,500 41.6% $ 382 3.3% 44.9% Sobreponderar Grupo Aval $ 1,146 nov.-20 $ 1,270 10.8% $ 54 4.7% 15.5% Neutral ISA $ 23,100 nov.-20 $ 23,250 0.6% $ 1,303 5.6% 6.3% Subponderar Nutresa $ 23,610 nov.-20 $ 31,600 33.8% $ 702 3.0% 36.8% Sobreponderar Promigas $ 7,600 nov.-20 $ 7,700 1.3% $ 462 6.1% 7.4% Subponderar Terpel $ 7,990 nov.-20 $ 11,470 43.6% $ - 0.0% 43.6% Sobreponderar Fuente: Grupo Bancolombia, Thomson Reuters Desayuno con Bancolombia Mercado accionario local Precio Desempeño Múltiplos Capitalización Volumen Vol. Día. de % 52 52 Índice/Acción Bursátil (COP 12 RPG (x) EV/EBITDA (x) Prom. Anual cierre Volumen 1 Dia Año Corrido Semanas Semanas (COP mn) mn) Meses (COPmn) (COP) Mínimo Máximo 2021E 2022E 2021E 2022E COLCAP 1,325 284,869,680 - - 0.4% -7.5% 43.5% 923.5 1,468.2 - Bancolombia 30,000 29,093,355 6,196 6.0% 0.6% -14.2% 69.5% 18,900 35,800 28.5x 14.9x N.A. N.A. 7,417 Bancolombia PF 30,000 29,093,355 5,730 5.5% 0.0% -14.6% 40.8% 20,000 35,700 28.5x 14.9x N.A. N.A. 22,940 Banco de Bogota* 78,400 26,187,112 237 0.2% 0.0% 3.7% 35.2% 58,000 83,400 9.7x 10.2x N.A. N.A. 747 BVC 12,180 743,147 856 0.8% 0.6% 1.2% 50.4% 8,000 12,870 9.6x 17.3x 7.0x 7.6x 414 Canacol* 10,230 1,825,782 118 0.1% 0.5% -1.9% -0.1% 8,860 11,490 8.5x 8.7x 3.9x 3.5x 1,744 Celsia* 4,723 5,095,258 188 0.2% -1.2% 0.3% 20.9% 3,905 4,899 20.7x 17.9x 7.9x 7.6x 959 Cementos Argos* 5,025 6,690,307 3,315 3.2% 0.8% -18.2% 86.1% 2,810 6,275 29.2x 20.8x 7.5x 7.0x 2,386 Cementos Argos PF* 4,055 6,690,307 95 0.1% 1.4% -9.9% 62.9% 2,600 4,690 29.2x 20.8x 7.5x 7.0x 287 Corficol* 32,160 10,399,758 270 0.3% -0.4% 0.0% 46.4% 23,120 33,000 6.5x 7.1x N.A. N.A. 1,872 Corficol PF* 26,000 10,399,758 153 0.1% 0.7% -0.7% 9.2% 19,500 27,600 6.5x 7.1x N.A. N.A. 577 Davivienda PF* 30,280 3,297,076 44,266 42.6% 1.6% -16.5% 24.1% 24,020 37,400 7.9x 7.1x N.A. N.A. 3,944 Ecopetrol* 2,333 96,718,271 15,961 15.4% 2.3% 4.8% 44.5% 1,615 2,491 11.4x 10.5x 6.0x 5.3x 22,119 ETB* 218 780,062 27 0.0% 3.2% 0.4% 28.2% 169 248 -12.5x -14.0x 1.5x 1.8x 198 GEB* 2,606 24,123,947 3,793 3.7% 0.2% -1.0% 24.1% 2,040 2,890 12.0x 11.1x 11.4x 10.6x 4,623 Éxito 13,590 6,133,231 141 0.1% -1.2% -2.2% -3.5% 9,800 14,960 26.2x 13.3x 6.5x 2.4x 218 Grupo Aval PF* 1,158 25,831,565 1,561 1.5% -1.0% -2.6% 65.4% 700 1,210 9.3x N.A. N.A. N.A. 8,914 Grupo Sura 21,900 12,531,828 5,576 5.4% -0.5% -13.2% 36.9% 16,000 26,470 44.3x 7.8x 12.1x 13.2x 5,980 Grupo Sura PF 19,100 12,531,828 435 0.4% 0.5% -13.1% 59.2% 12,000 22,650 44.3x 7.8x 12.1x 13.2x 1,538 Grupo Argos* 11,650 9,580,163 6,033 5.8% 1.4% -16.2% 45.6% 7,540 14,500 18.2x 13.1x N.A. N.A. 4,324 Grupo Argos PF* 9,360 9,580,163 273 0.3% 0.2% -10.9% 26.5% 6,500 10,750 18.2x 13.1x N.A. N.A. 430 ISA* 23,100 25,798,892 2,099 2.0% 0.0% -9.5% 73.4% 13,320 29,250 13.3x 13.0x 9.0x 8.9x 7,708 Nutresa* 23,610 10,953,325 1,458 1.4% 0.3% -1.6% 36.5% 17,300 25,000 17.0x 15.5x 9.0x 8.4x 3,419 Promigas* 7,600 8,696,148 1,026 1.0% 0.1% -10.7% 8.6% 6,500 8,400 10.0x 9.1x 11.2x 10.1x 415 Mineros 4,200 1,108,173 281 0.3% 1.1% 0.8% 73.6% 2,405 4,485 3.0x 3.0x 1.7x 1.7x 473 Terpel* 7,990 1,461,566 21 0.0% 2.4% -7.1% -0.1% 6,300 8,940 6.4x 3.8x 5.1x 3.7x 265 Non-index: CLH* 4,050 2,282,081 13 0.0% -2.2% -12.6% 170.0% 1,360 5,090 13.7x 7.3x 6.7x 5.7x 1,125 Conconcreto 465 531,789 1 0.0% 0.0% 5.9% 32.1% 302 543 22.8x N.A.
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