Upcoming Dividend • Jun 15
Upcoming dividend of Col$0.31 per share Eligible shareholders must have bought the stock before 22 June 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Colombian dividend payers (8.2%). Lower than average of industry peers (4.6%). Upcoming Dividend • Apr 13
Upcoming dividend of Col$0.12 per share Eligible shareholders must have bought the stock before 20 April 2026. Payment date: 24 April 2026. The company last paid an ordinary dividend in February 2023. The average dividend yield among industry peers is 3.8%. Board Change • Mar 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rafael Posada Peláez was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: Col$0.28 (vs Col$0.82 in FY 2024) Full year 2025 results: EPS: Col$0.28 (down from Col$0.82 in FY 2024). Revenue: Col$409.5b (down 14% from FY 2024). Net income: Col$3.25b (down 67% from FY 2024). Profit margin: 0.8% (down from 2.0% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Feb 26
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.5% to Col$18.10. The fair value is estimated to be Col$23.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Announcement • Feb 09
Enka de Colombia S.A., Annual General Meeting, Mar 12, 2026 Enka de Colombia S.A., Annual General Meeting, Mar 12, 2026, at 10:00 SA Pacific Standard Time. Location: country club de ejecutivos los llanos hall, diagonal 28 no 16 129 km 5, las palmas road, medellin Colombia New Risk • Aug 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Paying a dividend despite having no free cash flows. Earnings have declined by 20% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (Col$227.2b market cap, or US$56.6m). Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: Col$0.01 (vs Col$0.46 in 2Q 2024) Second quarter 2025 results: EPS: Col$0.01 (down from Col$0.46 in 2Q 2024). Revenue: Col$90.1b (down 21% from 2Q 2024). Net income: Col$133.5m (down 98% from 2Q 2024). Profit margin: 0.1% (down from 4.7% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Board Change • Jun 06
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Rafael Posada Peláez was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • May 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 110% Dividend per share is over 28x cash flows per share. Dividend yield: 6.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Dividend per share is over 28x cash flows per share. Earnings have declined by 11% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (Col$203.7b market cap, or US$49.1m). Board Change • Apr 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Rafael Posada Peláez was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Mar 20
New major risk - Revenue and earnings growth Earnings have declined by 4.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.6% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (110% payout ratio). Share price has been volatile over the past 3 months (5.5% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (Col$204.9b market cap, or US$49.0m). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Col$18.20, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 10x in the Chemicals industry in South America. Total loss to shareholders of 22% over the past three years. Announcement • Feb 07
Enka de Colombia S.A., Annual General Meeting, Mar 13, 2025 Enka de Colombia S.A., Annual General Meeting, Mar 13, 2025, at 10:00 SA Pacific Standard Time. Location: country club de ejecutivos los llanos hall, diagonal 28 no 16 129 km 5, las palmas road, medellin Colombia New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 4.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (110% payout ratio). Share price has been volatile over the past 3 months (4.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (Col$180.1b market cap, or US$43.4m). New Risk • Dec 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (110% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (Col$173.1b market cap, or US$39.6m). Upcoming Dividend • Sep 23
Upcoming dividend of Col$0.40 per share Eligible shareholders must have bought the stock before 30 September 2024. Payment date: 04 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.9%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (13%). Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: Col$0.46 (vs Col$0.90 in 2Q 2023) Second quarter 2024 results: EPS: Col$0.46 (down from Col$0.90 in 2Q 2023). Revenue: Col$114.7b (down 19% from 2Q 2023). Net income: Col$5.36b (down 49% from 2Q 2023). Profit margin: 4.7% (down from 7.5% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 31
Now 27% overvalued Over the last 90 days, the stock has fallen 12% to Col$16.00. The fair value is estimated to be Col$12.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has declined by 35%. Upcoming Dividend • Jun 22
Upcoming dividend of Col$0.40 per share Eligible shareholders must have bought the stock before 28 June 2024. Payment date: 05 July 2024. Trailing yield: 7.5%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (11%). New Risk • Apr 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Large one-off items impacting financial results. Market cap is less than US$100m (Col$207.2b market cap, or US$53.0m). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Col$18.60, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 10x in the Chemicals industry in South America. Total returns to shareholders of 36% over the past three years. New Risk • Mar 25
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 169% Dividend yield: 30% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (169% cash payout ratio). Market cap is less than US$100m (Col$188.4b market cap, or US$48.4m). Upcoming Dividend • Mar 25
Upcoming dividend of Col$0.40 per share Eligible shareholders must have bought the stock before 01 April 2024. Payment date: 05 April 2024. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 30%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (10%). Reported Earnings • Aug 15
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: Col$141.5b (down 8.8% from 2Q 2022). Net income: Col$10.6b (up 63% from 2Q 2022). Profit margin: 7.5% (up from 4.2% in 2Q 2022). The increase in margin was driven by lower expenses. Upcoming Dividend • Mar 21
Upcoming dividend of Col$0.40 per share at 1.7% yield Eligible shareholders must have bought the stock before 28 March 2023. Payment date: 03 April 2023. Trailing yield: 1.7%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (14%). Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 19% share price decline to Col$22.00, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 5x in the Chemicals industry in South America. Total returns to shareholders of 123% over the past three years. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Rafael Ignacio Posada Peláez was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 22% share price gain to Col$31.50, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 4x in the Chemicals industry in South America. Total returns to shareholders of 276% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improved over the past week After last week's 15% share price gain to Col$24.20, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 4x in the Chemicals industry in South America. Total returns to shareholders of 189% over the past three years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 16% share price gain to Col$20.90, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 4x in the Chemicals industry in South America. Total returns to shareholders of 149% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings released First quarter 2022 results: Revenue: Col$156.0b (up 37% from 1Q 2021). Net income: Col$13.8b (up 6.4% from 1Q 2021). Profit margin: 8.8% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Rafael Ignacio Posada Peláez was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: Col$537.0b (up 50% from FY 2020). Net income: Col$57.7b (up 284% from FY 2020). Profit margin: 11% (up from 4.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 18% share price gain to Col$24.80, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 6x in the Chemicals industry in South America. Total returns to shareholders of 230% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Col$156.4b (up 68% from 3Q 2020). Net income: Col$12.6b (up 88% from 3Q 2020). Profit margin: 8.0% (up from 7.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improved over the past week After last week's 27% share price gain to Col$20.01, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 9x in the Chemicals industry in South America. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improved over the past week After last week's 21% share price gain to Col$17.14, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 10x in the Chemicals industry in South America. Total returns to shareholders of 129% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Col$128.1b (up 120% from 2Q 2020). Net income: Col$16.5b (up Col$17.9b from 2Q 2020). Profit margin: 13% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 03
Market bids up stock over the past week After last week's 35% share price gain to Col$9.86, the stock is trading at a trailing P/E ratio of 11.3x, up from the previous P/E ratio of 8.4x. This compares to an average P/E of 9x in the Chemicals industry in South America. Total returns to shareholders over the past three years are 16%. Announcement • Nov 25
Enka de Colombia Asks Superfinanciera to Authorise Take-Over Bid by Grupo Petrotemex Enka de Colombia asked Superfinanciera to authorise a take-over bid by Grupo Petrotemex, S.A. de C.V. The latter has now stated that it is not looking to buy up 100% of ordinary shares in Enka but wants to pick up a stake of between 15% and 25% only. It has done so in a letter sent to Jorge Andres Hurtado, Legal Representative of and Director de finanzas at Enka de Colombia. Is New 90 Day High Low • Nov 06
New 90-day low: Col$7.29 The company is down 9.0% from its price of Col$8.00 on 06 August 2020. The Colombian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period. Is New 90 Day High Low • Sep 29
New 90-day low: Col$7.30 The company is down 4.0% from its price of Col$7.60 on 01 July 2020. The Colombian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 3.0% over the same period.