ALIANSCE SONAE: Consistent operating performance leverages results

USA - English

• Brazil - Português

RIO DE JANEIRO, Brazil , Aug. 10, 2022 /PRNewswire/ --  Aliansce Sonae Shopping Centers S.A. (B3: ALSO3), one of the largest shopping mall owners and operators in Brazil, announces its results for the second quarter of 2022 (2Q22).

2Q22 Highlights

Aliansce Sonae and brMalls business combination approved. Shareholders of both companies approved the business combination by a vast majority. The transaction is under analysis by CADE, and Bain & Co. has already been hired to work on the integration process.

Uberlândia Shopping's divestment. Contract for the sale of Uberlândia Shopping was signed with an accretive valuation for the Company. The mall was already part of Aliansce Sonae's divestment pipeline.

Shopping Eldorado's management. Contract was signed for the management of Shopping Eldorado, which has a relevant presence in the capital of São Paulo. This transaction ratifies Aliansce Sonae's thesis on synergies and commercial levers as one of the rationale pillars for the merger with brMalls.

Sales advance 21% vs. 2Q19. Sales reached R$2.9 billion in 2Q22, growing 46% and 21% versus 2Q21 and 2Q19, respectively.

SSR reaches 38%. The indicator's performance in 2Q22 follows the consistent recovery of activities in the Company's malls and consequent reduction in discounts. The level of discounts over rents reached its lowest point since 4Q19. SSR net of discounts was 31% in 2Q22.

High occupancy rate of 96.7%. Commercial demand for spaces in Aliansce Sonae's malls remains heated, with 173 new contracts in 2Q22. Leasing activity was even stronger than in 4Q21.

EBTIDA and AFFO growth. EBTIDA and AFFO grew 12% and 3%, respectively in 2Q22 vs. 2Q19. Under the proforma concept, EBITDA posted an expansion of 16%. Considering the investment in brMalls shares as cash, AFFO would report a 16% increase versus 2Q19.

Aliansce Sonae joins the UN Global Compact. Aliansce Sonae achieved another important milestone in its sustainability journey and made a public commitment by joining the UN Global Compact.

For a full version of 2Q22 Earnings Release, please, refer to https://ri.alianscesonae.com.br/en

Aliansce Sonae will hold its conference call and webcast on August 11^th, at 02:00 p.m. BRT (in english). To access the call, dial +1 (412) 717-9627 / +55 11 3181-8565 / +55 11 4090-1621, code "Aliansce Sonae". Webcast is available at https://ri.alianscesonae.com.br/en 

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

SOURCE Aliansce Sonae Shopping Centers