ALIANSCE: EBITDA expansion of 7.5% and AFFO growth of 20.4% in 2018

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Aliansce Shopping Centers S.A.

Feb 26, 2019, 17:56 ET

RIO DE JANEIRO, Feb. 26, 2019 /PRNewswire/ -- Aliansce Shopping Centers S.A. (B3: ALSC3), one of Brazil's largest shopping mall owners and operators, announced today its financial results for the fourth quarter of 2018 (4Q18) and the year of 2018.

4Q18 | 2018 Highlights:

  • EBITDA up 7.5% to R$ 410.1 million in 2018, due to higher top line and lower PDA costs. Margin reached 73.3% in the year.
  • Improved operational figures and renegotiation of financing and pre-payments led AFFO up 20.4% yoy to R$89.1 million with 55.4% margin in 4Q18 and R$234.5 million with 42.2% margin in the year.
  • Total sales grew 5.3% to R$1.9 billion, with sales per sqm up 4.8% in 4Q18. SAS grew 4.1% and SSS were up 3.2% yoy in 4Q18. SSR and SAR increased 5.5% and 5.0%, respectively, in 4Q18. Rent revenue grew 5.1% yoy in 4Q18 and 3.2% in 2018.
  • PDA costs down 21.9% and post-billing discounts dropped by R$9.6 million in 2018. Net delinquency ended the quarter at 0.5%, with LTM figure at 2.5%.
  • Prepayment of R$166 million in 4Q18 and R$310 million in 2018. Leverage at the end of the period was reduced to 3.3x net debt/EBITDA.  
  • Aliansce renegotiated the coupon rate on 6 financings since 1Q18, reducing the average cost of these debts from 10.1% to 9.0%.
  • Occupancy rate reached 97.8%. In 2018, 516 lease contracts were signed, up 14.9% yoy, +107 bps vs. 3Q18.
  • Divestment of Boulevard Corporate Tower: 1st tranche of R$104 million in December 2018; 2nd tranche of R$39 million in February 2019; 3rd tranche to be received by 2022.

For a full version of 4Q18 and 2018 Earnings Release, refer to http://ir.aliansce.com.br

According to management, Aliansce witnessed positive dynamics in 2018 despite the challenging scenario. Combining the ongoing improvement in operating results and substantial cost reductions, supported by the solidified corporate structure and an efficient liability management approach, the Company posted sales growth, increased its profitability and strengthened its liquidity.

Aliansce will hold its conference call and webcast in English on February 27, at 10:00 am ET/12:00 pm BRT. To access the call, dial +1 646 828-8246/+55 (11) 3193-1001, code "Aliansce". Webcast is available at http://ir.aliansce.com.br

For more information, please contact Daniella Guanabara, Strategy & IR Director, at +55-21-2176-7252 or [email protected]

SOURCE Aliansce Shopping Centers S.A.

Related Links

http://ir.aliansce.com.br

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