SAO PAULO, Nov. 14, 2012 /PRNewswire/ -- General Shopping Brasil S/A (BM&FBovespa: GSHP3), one of the largest shopping mall companies in Brazil, announces 3Q12 earnings results.
- Opening of Outlet Premium Brasilia in July 2012.
- Acquisition of Shopping Bonsucesso mall in August 2012.
- Opening of the expansions of Unimart Shopping Campinas and Parque Shopping Prudente malls in this period.
- General Shopping Brasil's gross revenue in the third quarter of 2012 (3Q12) totaled R$ 49.7 million, up 37.5% over the R$ 36.1 million reached in the third quarter of 2011 (3Q11). In the first nine months of 2012, gross revenue grew 29.6% as compared with that of 9M11, reaching R$ 134.6 million.
- Consolidated NOI registered R$ 41.2 million in 3Q12, with margin at 89.0% and a growth of 38.5% in relation to the R$ 29.8 million registered in 3Q11. In 9M12, consolidated NOI was R$ 110.3 million, with margin of 87.8% and a growth of 29.2% in comparison with 9M11.
- Gross Profit registered R$ 37.7 million in 3Q12, with margin at 81.4% and a growth of 38.9% as compared with the R$ 27.1 million of 3Q11. In 9M12, gross profit totaled R$ 99.3 million, with margin of 79.1% and a growth of 27.9% in comparison with 9M11.
- Adjusted EBITDA reached R$ 32.0 million in 3Q12, with margin at 69.2% and a growth of 27.6% in relation to the R$ 25.1 million in 3Q11. In 9M12, adjusted EBITDA totaled R$ 87.2 million, with margin of 69.4% and a growth of 26.0% in comparison with 9M11.
For more information about the performance of GSB, see the release on the link below: http://www.firb.com/general_shopping/GSB_release_3Q12.pdf
CONFERENCE CALLS ON THE 3Q12
What: General Shopping Brasil 3rd Quarter 2012 Earnings Conference Call