General Shopping Brasil - Company reports an adjusted EBITDA of R$ 42.7 million, 15.8% higher than 2Q13

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General Shopping Brasil S.A.

Aug 14, 2014, 11:25 ET

SAO PAULO, Aug. 14, 2014 /PRNewswire/ -- General Shopping Brasil S/A (BM&FBovespa: GSHP3), one of the largest shopping mall companies in Brazil, announces 2Q14 earnings results.

  • General Shopping Brasil S/A reported second quarter 2014 (2Q14) gross revenue of R$ 66.8 million, representing an increase of 15.8% compared with  R$ 57.7 million in the second quarter of 2013  (2Q13).  In the first half of 2014 - 1H14, gross revenue rose by 18.9% in relation to 1H13, reaching R$ 133.4 million.
  • Consolidated Net Operating Income (NOI) for 2Q14 was R$ 52.8 million, equivalent to a margin of 86.2% and growth of 14.8% in relation to the R$ 46.0 million in 2Q13. The Company reported a 1H14 consolidated NOI of R$ 105.7 million, equivalent to a margin of 86.4% and a growth of 18.0% when compared to 1H13.
  • The Company posted Gross Profit in 2Q14 of R$ 46.4 million, with a margin of 75.6% and growth of 13.6% compared with the R$ 40.8 million recorded for 2Q13. In 1H14, gross profit amounted to R$ 93.2 million, representing a margin of 76.2% and growth of 18.2% compared with 1H13.
  • Adjusted EBITDA in 2Q14 reached  R$ 42.7 million, that is a margin of 69.7% and a growth of 15.8% in relation to the R$ 36.9 million for 2Q13. In 1H14, Adjusted EBITDA was R$ 85.4 million, representing a margin of 69.8% and a growth of 19.6% compared with 1H13.

For more information about the performance of the GSB, see the release on the link below:

http://www.firb.com/general_shopping/GSB_release_2Q14.pdf

CONFERENCE CALLS ON THE 1Q14

What: General Shopping Brasil's  2Q14 Earnings Conference Call

When: Friday August 15, 2014 @ 3:00 PM in Portuguese and 4:00 PM in English.

Where: http://webcast.prnewswire.com.br/Canais/GeneralShopping/ChannelLogin.aspx?Palestra_ID=1272 
(portuguese)

http://webcast.prnewswire.com.br/Canais/GeneralShopping/ChannelLogin.aspx?Palestra_ID=1273  (english)   

How: Live over the Internet -- Simply log on to the web at the address above.

Conference call dial-in phone numbers: From the US: 1-786-924-6977; from Brazil: 11 3193-1001; from other countries: 1-888-700-0802

Contact: Investor Relations Area of General Shopping Brasil - + 55 11 3159-5100, [email protected], or Silvia Pinheiro, from FIRB - Financial Investor Relations Brasil - + 55 11 3500-5564, [email protected]

SOURCE General Shopping Brasil S.A.

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