ALIANSCE: In 3Q18 EBITDA expansion of 10.3% and AFFO growth of 18.6% yoy

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Aliansce Shopping Centers S.A.

Nov 08, 2018, 16:29 ET

RIO DE JANEIRO, Nov. 8, 2018 /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 third quarter of 2018.

3Q18 Highlights:

  • Total sales grew 4.5%, reaching R$1.4 billion, with sales per sqm up 3.9%. Same Store Sales expanded 2.1%.
  • Same Store Rent and Same Area Rent increased 3.8% and 3.6%, respectively. Rent revenue grew in 3Q18, expanding 3.5% yoy.
  • EBITDA up 10.3% yoy. Lower mall operating costs and PDA contributed to the R$96.6 million EBITDA, with 73.5% margin– the highest for a 3rd quarter since 3Q15.
  • AFFO up 18.6% yoy. Better operational figures and debt renegotiation led to R$51.0 million AFFO, with 38.2% margin – the highest for a 3rd quarter since 3Q13.
  • Issuance of R$245 million in debentures, at 110% of CDI, clean, 5-year maturity and AA rating. Debt exposure to CDI is now at 50.4%.
  • PDA costs and post-billing discounts decreased by 25.5% and R$3.1 million, respectively. Net delinquency ended at 1.7%, while the LTM figure was 2.5%.
  • Occupancy rate reached 96.8%. In LTM, 478 stores were leased, up 9.9% yoy, increasing the portfolio's occupancy rate by 70 bps vs. 2Q18.
  • Divestment: Aliansce sold the Boulevard Corporate Tower in Belo Horizonte for R$190 million (R$9.302/sqm) to Kinea (REIT), with payment in 3 tranches, expected for 4Q18, 1Q19 and 1Q22.

For a full version of 3Q18 Earnings Release, please access: https://ir.aliansce.com.br

According to the Company's management, Aliansce started to notice a more consistent recovery both in visitor flow and sales of its malls. Demand for spaces remains strong, corroborated by record leasing figures in 3Q18. The Company generated significant operating gains on higher revenue and ongoing cost-reduction efforts. Aliansce successfully completed the issuance of a R$245 million debenture that marked its entry into the corporate debt market. The Company will continue focusing on corporate efficiency and on the pursuit of future growth opportunities.

Aliansce will hold live conference call and webcast in English on November 9, at 8:00 a.m. ET / 11:00 a.m. BRT. Investors may access the call dialing +1 646 828-8246 / +55 (11) 3193-1001 and using the code "Aliansce". Webcast is available at http://ir.aliansce.com.br

For more information, please contact Daniella Guanabara, Strategy & IR Director, at +55 21 2176-7272 or [email protected]

SOURCE Aliansce Shopping Centers S.A.

Related Links

http://ir.aliansce.com.br

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