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BRMALLS DISCLOSES PRELIMINARY 1Q14 TENANTS SALES AND RENT PERFORMANCE
Rio de Janeiro, April 29th, 2014 - BR MALLS Participações S.A.(Bovespa:BRML3), the largest shopping mall company in Brazil, announces its preliminary tenant sales and rent results, as well as the occupancy and late payment (30 days) levels for the first quarter of 2014 (1Q14).
BRMALLS SHOPPING MALLS RECORD A 9.7% TOTAL SALES GROWTH IN 1Q14
Total sales reached R$5.1 billion in 1Q14, a 9.7% increase over the first quarter of 2013.
SAME STORE SALES TOTALED 7.6% IN 1Q14
In 1Q14, same store sales (SSS) recorded a 7.6% growth. This result represents an increase of 10bps over 1Q13.
The result was driven mainly by the megastore segment followed by satellites. The same store sales (SSS) were impacted by the leisure segment’s negative performance.
SAME STORE RENT TOTALED 8.7% IN 1Q14
In 1Q14, BRMALLS recorded a same store rent (SSR) increase of 8.7%.
BRMALLS SHOPPING MALLS RECORED A 97.6% OCCUPANCY RATE
By the end of 1Q14, out of our 50 malls, 33 had an occupancy rate higher than 98%.
BRMALLS SHOPPING MALLS RECORD AN IMPROVEMENT IN LATE PAYMENTS
In the end of 1Q14, late payments (30 days) averaged 4.0%, an improvement of 30bps over 1Q13.
BR MALLS PARTICIPAÇÕES S.A.
Investor Relations Officer
Frederico da Cunha Villa
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BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 49 malls, comprising 1,637.0 thousand m² of GLA and 965.1 thousand m² of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.