News

BRMALLS ANNOUNCES 3Q14 EARNINGS RELEASE

Highlights of the Third Quarter of 2014 and Events After the Reporting Period:

  • Net revenue grew by 4.2% in 3Q14 totaling R$336.1 million. Excluding the malls divested in the last 12 months, net revenues grew by 5.7%.
  • Net operating income (NOI) totaled R$311.2 million in 3Q14, 4.0% higher than 3Q13, accompanied by a NOI margin of 91.4%. Excluding the malls divested in the last 12 months, NOI increased 5.5%.
  • Adjusted EBITDA totaled R$263.8 million in 3Q14, 1.8% up on the same period last year, accompanied by an adjusted EBITDA margin of 78.5%.
  • Adjusted FFO posted to R$126.1 million in 3Q14 with a margin of 37.5%
  • Our Adjusted Net income in 3Q14 was R$123.7 million with a margin of 36.8%.
  • Total Sales reached R$5.3 billion, up 1.8% from the prior year period. Excluding the malls divested in the last 12 months, total sales grew by 7.5%.
  • Same Store Sales reached 4.4% while Same Store Rent was 7.8%.
  • Excluding malls that were inaugurated on the last 12 months, we registered an occupancy rate of 97.4%. 29 out of the 50 malls in our portfolio reached an occupancy rate greater than 98%.
  • Our renewal and new contract leasing spreads averaged 24.3% and 20.9%, respectively.
  • On August 25th we inaugurated Shopping Vila Velha, the 10th and largest of our greenfields adding a total GLA of 71,8 thousand m² and owned GLA of 35,9 thousand m². We estimate that this project will generate R$28.0 million in stabilized NOI.
  • After 3Q14, in October, we issued R$250.0 million in Real Estate Certificates (CRIs) at a rate of TR+9,8%. The funding is backed by the greenfield project Cuiabá Plaza Shopping.

Please Click Here, to access the 3Q14 Earnings Release:

Conference Call:

English:

November 5th, 2014
9:00 a.m. US ET (12:00 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=N24015663

Replay:
+55 11 3127-4999
Recording ID: 38813861

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Ondemand&NameRoom=N24015663

Portuguese:

November 5th, 2014
08:00 a.m. US ET (11:00 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=N24015662

Replay:
+55 11 3127-4999
Recording ID: 49310224

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Ondemand&NameRoom=N24015662