News

Highlights:

  • Net revenue grew by 5.6% in 3Q15 to R$354.8 million. Excluding the effects of our asset sales*, net revenue grew by 7.4% over 3Q14.

  • NOI in 3Q15 was R$331.2 million, increasing 6.4% from 3Q14, with margin of 92.0% in the quarter. Same-property NOI grew 7.5% compared to 3Q14.

  • Adjusted EBITDA was R$281.6 million this quarter, increasing 6.8% on the year-ago period. Adjusted EBITDA margin stood at 79.4%. Excluding the assets divested in the last 12 months*, adjusted EBITDA grew by 8.4%.

  • Adjusted Net Income was R$95.2 million, with a margin of 26.8%.

  • Adjusted FFO was R$97.8 million, with a margin of 27.6%.

  • Same-store rent increased by 7.4% in 3Q15, while same-store sales grew 2.3% in the period.

• Store occupancy cost was 11.4%, of which 6.9% was related to rent and 4.5% to common and marketing costs.

  • The occupancy rate of our malls ended the quarter at 96.8%. Malls with occupancy higher or equal to 98% account for over 70% of our NOI, which demonstrates the strength of our portfolio.

• Both late payment and net late payments decreased 110bps over 2Q15 reaching 6.5% and 2.6% respectively.

• In line with our portfolio recycling strategy, we concluded the divestment of our entire stake on West Shopping andCenter Shopping for a total of R$161.4 million and a 44% stake of Shopping Paralela for R$156.6 million. These sales represented a decrease of 3.4% in our owned GLA.

*Assets divested: Mueller and Fashion Mall.

Please Click Here, to access the 3Q15 Earnings Release.

Conference Call:

English:

November 3rd, 2015
8:00 a.m. US ET (11:00 a.m. Brazil)

Phone number:
+55 11 3127-4971
+55 11 3728-5971
1-516-300-1066 (U.S phone number):

Webcast:

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Participante&NameRoom=N24023909

Replay:

+55 11 3127-4999
Recording ID: 73568327

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Ondemand&NameRoom=N24023909

Portuguese:

November 3rd, 2015
7:00 a.m. US ET (10:00 a.m. Brazil)

Phone numbers:
+55 11 3127-4971
+55 11 3728-5971

Webcast:

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Participante&NameRoom=N24023908

Replay:

+55 11 3127-4999
Recording ID: 50262096

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Ondemand&NameRoom=N24023908

BR MALLS PARTICIPAÇÕES S.A.
Investor Relations Officer
Frederico da Cunha Villa

ABOUT BRMALLS

BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 46 malls, comprising 1,650.0thousand m² of GLA and 966.3 thousand m² of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.


IR Contact:

Phone: 55 (21)3138-9900 E-mail: ri@brmalls.com.br Website: www.brmalls.com.br/ir