CCP Reports Net Income Growth of 85% in 2009

SAO PAULO, March 18 /PRNewswire-FirstCall/ -- Cyrela Commercial Properties S.A. Empreendimentos e Participacoes (Bovespa: CCPR3), one of the leading commercial property investment and leasing companies in Brazil, announces its results for the fourth quarter and year 2009. 

    
    
    
    
    2009 Highlights
    
                    Net Revenue                R$ 144.52 million
                    Gross Profit               R$ 124.5 million
                    Gross Margin               86.2%
                    Adjusted EBITDA            R$ 105.61 million
                    Adjusted EBITDA Margin     84.0 %
                    Adjusted NOI               R$ 120.55 million
                    Adjusted NOI Margin        95.9%
                    FFO                        R$ 69.45 million
                    FFO Margin                 48.1 %
                    Net Income                 R$ 62.51 million
                    Net Margin                 43.3 %
    
    

    
    
    
    
                        4Q09 Results Conference Call
                          Friday, March 19, 2010
    
                                          Portuguese Conference Call
       English Conference Call               9:00 a.m. (US EST)
         11:00 a.m. (US EST)              Phone: +55 (11) 2188-0188
      Phone: +1 (412) 858-4600                   Code:CCP
             Code: CCP                   Replay: +55 (11) 2188-0188
     Replay: +1 (877) 344-7529                   Code: CCP
           Code: 434981
    
    

www.ccpsa.com.br/ir

About Cyrela Commercial Properties:

CCP is one of Brazil's leading commercial real estate companies, focusing on the development and acquisition for leasing of high quality office buildings, shopping malls and distribution centers. Based on its extensive experience and knowledge of the property market, it also seeks out opportunities to purchase, sell and resell commercial properties which it believes will generate gains. Currently, it possesses 193,000 sq.m. of leasable area and a further 171,000 sq.m. in projects under development to be delivered within the next few years.

SOURCE Cyrela Commercial Properties