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Preliminary 3Q14 Tenant Sales
BRMALLS Discloses Preliminary 3Q14 Tenants Sales and Operating Results
Rio de Janeiro, October 31st, 2014 - BR MALLS Participações S.A.(Bovespa:BRML3), the largest shopping mall company in Brazil, announces its preliminary tenant sales and operating results, as well as the occupancy and late payment (30 days) levels for the third quarter of 2014 (3Q14).
EXCLUDING THE EFFECTS OF OUR ASSET SALES, BRMALLS INCREASED ITS TOTAL SALES BY 7.5%
Total sales reached R$5.3 billion in 2Q14, a 1.8% increase over 3Q13. Excluding the effects of our properties recently divested*, total sales recorded a 7.5% growth in 3Q14 over the prior year period.
SAME STORE SALES INCREASED 4.4% IN 3Q14
BRMALLS recorded a 4.4% same store sales growth. Our year-to-date same store sales grew by 6.5%.
Sales were harshly impacted by the lower footfall due to the World Cup Holidays in July.
The negative impacts caused by the event were even greater than in 2Q14 due to a good sales performance in July/13 compared to a poor performance in June/13 when sales were affected by the Confederation’s Cup and political protests throughout the country.
Satellites stores had the best performance in the quarter increasing its same store sales by 6.6%.
IN 3Q14, BRMALLS RECORDED A SAME STORE RENT OF 7.8%
Our same store rent increased 7.8%.
WE ENDED THE QUARTER WITH AN OCCUPANCY RATE OF 97.1%
Excluding malls that we inaugurated over the last twelve months**, our occupancy rate was 97.4%.Out of the 50 malls in which we hold interest, 29 have an occupancy cost above 98%.
LATE PAYMENTS REGISTERED 3.5% IN 3Q14
In the end of 3Q14, late payments (30 days) averaged 3.5%.The net late payments rate of the second quarter of
2014 reached the lowest level since 3Q13 totaling 1.1%, 60bps lower than in 2Q14.
BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 50 malls, comprising 1,629.6 thousand m² of GLA and 1,004.1 thousand m² of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.