This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sao Carlos Reports Net Income Of R$ 221 Million And Revenue From Leases Increase Of 21% In 2012

 



SAO PAULO, March, 18, 2013 /PRNewswire/ -- Sao Carlos Empreendimentos (BM&FBovespa: SCAR3), one of Brazil's leading commercial real estate investment and management companies, posted net income of R$221 million in 2012, its highest ever annual figure and 129% more than in the previous year, while  adjusted EBITDA climbed by 21% to R$214 million.

Gross revenue from leases totaled R$275 million in 2012, 21% higher than in 2011, and R$70.8 million in 4Q12, an 11% year-on-year improvement. "This growth primarily reflects real increases due to renovations and leasing agreement revisions, as well as the properties acquired in the period. It is also worth highlighting the delivery of Centro Empresarial Regiao Portuaria building retrofit", explained Sao Carlos' CEO, Felipe Goes.

The year-end cash balance stood at R$365 million, representing a buying power of around R$1.2 billion, assuming a 70% leverage ratio for acquisition financing.

The Company added five new buildings to its portfolio in 2012, one in Sao Paulo and four in Rio de Janeiro, totaling R$300 million, with an average stabilized cap rate of 14.2%. Given the favorable sector cycle and the liquidity offered by real estate investment funds throughout the year, Sao Carlos undertook substantial sales of mature assets totaling R$307 million: Centro Administrativo Rio Negro, in Alphaville, for R$233 million, and seven retail street stores in the state of Rio de Janeiro for R$74 million.

To download the full version of our "4Q12 Earnings Release", please access our website at www.scsa.com.br/ir

CONFERENCE CALL English ( March 19, 2013, Tuesday) 11:00 a.m. ( New York) 12:00 p.m. ( Brasilia)Phone: 1-412-317-6776Code: Sao Carlos     

About Sao Carlos

Sao Carlos is one of the leading companies in Brazil's commercial real estate investment and management sector



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs