ALIANSCE SONAE: Strong Sales Recovery With High Occupancy At 95.8%
RIO DE JANEIRO, Nov. 10, 2021 /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 third quarter of 2021 (3Q21).
3Q21 Highlights
95.8% occupancy rate. Strong demand for commercial spaces in Aliansce Sonae's malls contributed to the high occupancy rate in 3Q21, equivalent to the level recorded in 4Q20.
Expressive rent recovery. In 3Q21, SSR and SAR reached 25.8% and 22.6% compared to 3Q19, respectively.
Strong sales resumption. Sales reached 98% of the amount posted in 2019, growing by almost 40% versus 2020. Malls located in the Northern region stood out with total sales growth of 15%, in 3Q21 compared to 3Q19.
Balanced occupancy cost. Aliansce Sonae's discipline in operating costs, combined with sales recovery, allowed the Company to continue reducing rent discounts, maintaining a sustainable occupancy cost of 10.8%.
Drop in net delinquency. In 3Q21, net delinquency was 1.0% - a reduction of 7 p.p. compared to 2Q21. This is the lowest level since 4Q19, corroborating the resumption of operating results and the success in recovering overdue receivables.
Strong cash generation and low leverage. Aliansce Sonae closed 3Q21 with strong operating cash generation of R$165 million in the quarter and R$357 million in 9M21, cash balance of R$1.3 billion, and Net Debt/EBTIDA of 1.4x.
Alsotech announces investments. Alsotech - the phygital transformation arm for retail, launched in August 2021 - announced the investment in two startups, essential to the Company's strategy: Box Delivery and Hubsell.
For a full version of 3Q21 Earnings Release, please, refer to https://ri.alianscesonae.com.br/en
Aliansce Sonae will hold its conference call and webcast on November 11th, at 9:00 a.m. US ET (in portuguese) / 10:00 a.m. US ET (in english). To access the call, dial +1 (412) 717-9627 / +55 11 3181-8565 / +55 11 4210-1803, 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 ri@alianscesonae.com.br
SOURCE Aliansce Sonae Shopping Centers
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