Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q1 2022 Earnings Conference Call May 19, 2022 10:00 AM ET
Company Participants
Luis Carlos Sarmiento Gutierrez - Chief Executive Officer
Diego Solano Saravia - Chief Financial Officer
Conference Call Participants
Nicolas Riva - Bank of America
Jason Mollin - Scotiabank
Julian Ausique - Davivienda Corredores
Alonso Aramburu - BTG Pactual
Luis Carlos Sarmiento Gutierrez
Good morning and thank you all for joining our First Quarter 2022 Conference Call.
Operator
Grupo Aval has retained an indirect stake of approximately 17.2% of -- in BHI, representing our proportional interest in the 25% equity stake in BHI retained by Banco de Bogota. This interest in BHI is reported as discontinued operations for reporting periods prior to the spin-off, including for the full period in the three months ended March 31, 2022, and will be reported under the share of profit of equity accounted investees, net of tax, equity method, line item for subsequent periods.
As a result for comparability purposes, we have prepared and present supplemental unaudited pro forma financial information for the three months ended March 31, 2021. In the three months ended December 31, 2021, that assumes the spin-off was completed on January 1, 2021, and October 1, 2021, respectively.
The supplemental unaudited pro forma financial information does not purport to be indicative of our results of operations or financial position had the relevant transactions occurred on the date soon and does not project our results of operations or financial position for any future period or date.
The pro forma financial information is unaudited and the completion of the external audit for the year ended December 31, 2022, may result in adjustments to the unaudited pro forma financial information presented herein. Any such adjustments may be material.
This report includes forward-looking statements. In some cases, you can identify these forward-looking statements by words such as may, will, should, expect, plans, anticipates, believes, estimate, predicts, potential or continue, or the negative of these and other comparable words.
Actual results and events may differ materially from those anticipated herein as a consequence of changes in general, economic and business conditions, changes in interest and currency rates and other risks described from time to time in our filings with the Registro Nacional de Valores y Emisores and the SEC.
Recipients of this document are responsible for the assessment and use of the information provided herein. Matters described in this presentation and our knowledge of them may change extensively and materially over time, but we expressly disclaim any obligation to review, update or correct the information provided in this report included any forward-looking statements and do not intend to provide any update for such material development prior to our next earnings report. The content in this document and the figures included herein are intended to provide a summary of the subjects discussed rather than a comprehensive description. When applicable, in this document, we refer to billions as thousands of millions.