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BRMALLS Discloses Preliminary 2Q14 Tenants Sales and Operating Results
Notice to the market
Rio de Janeiro, July 23rd, 2014 - BRMALLS Participações S.A. (Bovespa:BRML3), the largest shopping mall company in Brazil, announces its preliminary tenat sales and operating results, as well as the occupancy and late payment (30 days) levels for the second quarter of 2014 (2Q14).
BRMALLS SHOPPING MALLS RECORD A 6.8% TOTAL SALES GROWTH IN 2Q14
Total sales reached R$5.4 billion in 2Q14, a 6.8% increase over the second quarter of 2014. Excluding the effects of our properties recently divested, total sales recorded a 13.1% growth in 2Q14 over 2Q13.
SAME STORE SALES INCREASE 7.5% IN 2Q14
In 2Q14, same store sales (SSS) grew by 7.5%.
Sales were impacted by the limited operating hours due to Brazils World Cup games as well as weak footfall following the matches. Sales were also negatively impacted due to the fact that Valentines Day occured in the same day as the World Cup opening match (June 12th).
Leisure was the fastest growing segment in terms of SSS, followed by megastores. Movie theather performance was positively influenced by the anticipation of school holidays due to the World Cup.
SAME STORE RENT TOTALED 8.6% IN 2Q14
In 2Q14, BRMALLS recorded a same store rent (SSR) increase of 8.6%.
OCCUPANCY RATE REACHED AN AVERAGE OF 97.3% OF TOTAL GLA IN 2Q14
By the end of 2Q14, out of our 49 malls, 29 malls had an ocuppancy rate higher than 98%.
LATE PAYMENTS REGISTERED 3.9% IN 2Q14
In the end of 2Q14, late payments (30 days) averaged 3.9%.
The net late payments rate of the second quarter of 2014 reached 1.7%.
Click here to access the full report.
BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 49 malls, comprising 1,657.8 thousand m² of GLA and 968.2 thousand m² of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.