News

BRMALLS Discloses Preliminary 4Q14 Tenants Sales and Operating Results

Rio de Janeiro, January 28th, 2015 - 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 net late payment levels for the fourth quarter of 2014 (4Q14).

EXCLUDING THE EFFECTS OF OUR ASSET SALES, BRMALLS INCREASED ITS TOTAL SALES BY 8.8%.

Total sales reached R$7.2 billion in 4Q14 and R$23.0 billion in 2014, an increase of 1.3% over 4Q13 and 4.4% over 2013. Excluding the effects of our properties recently divested*, total sales recorded a 8.8% growth in 4Q14 over the prior year and a 10.2% growth over 2013.

SAME STORE SALES INCREASED 6.5% IN 4Q14.

BRMALLS recorded a 6.5% same store sales growth. In 2014 same store sales grew by 6.5%.

Leisure had the best performance in the quarter increasing its same store sales by 9.5%.

IN 4Q14, BRMALLS RECORDED A SAME STORE RENT OF 7.2%.

Our same store rent increased 7.2% in 4Q14 and 7.9% in 2014 over 4Q13 and 2013, respectively.

OUR OCCUPANCY RATE INCREASED 30 BPS OVER 3Q14 REACHING 97.4%.

Our occupancy rate was 97.4% in 4Q14. Out of the 48 malls in which we hold interest, 32 have an occupancy above 98%.

NET LATE PAYMENTS REGISTERED 0.8% IN 4Q14.

The net late payments rate of the fourth quarter of 2014 reached the lowest level since 3Q13 totaling 0.8%, 70 bps lower than in 4Q13. In the end of 4Q14, late payments (30 days) averaged 4.1%.

*Divested Malls: Shopping Pátio Belém, Big Shopping, Shopping Metrô Tatuapé, Mueller and Shopping Fashion Mall

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ABOUT BRMALLS

BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 48 malls, comprising 1,691.0 thousand m² of GLA and 987.4 thousand m² of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.