CCP Announces Gross Revenue Growth of 20.8% and 14.2% in the EBITDA for the 1Q11

News provided by

Cyrela Commerical Properties S.A.

May 11, 2011, 07:48 ET

SAO PAULO, May 11, 2011 /PRNewswire/ -- Cyrela Commercial Properties S.A. Empreendimentos e Participacoes (BM&FBovespa: CCPR3), one of the leading commercial property investment and leasing companies in Brazil, announces its results for the First Quarter of 2011.

1Q11 Highlights

Net Revenue

R$ 43.82 million

EBITDA

R$ 34.48 million

EBITDA Margin

78.7%

Adjusted EBITDA

R$ 34.31 million

Adjusted EBITDA Margin

83.0%

NOI

R$ 34.25 million

NOI Margin

93.8%

FFO

R$ 21.65 million

FFO Margin

49.4%

FFO per share

R$ 0.251

Net Income

R$ 19.49 million

Net Margin

44.5%

Net Income per share

R$ 0.2256

1Q11 Results Conference Call
Thursday, May 12, 2011

English Conference Call
10:30 a.m. (US EST)
Phone: +1 (412) 317-6776
Code: CCP
Replay: +1 (412) 317-0088
Code: 450707#

Portuguese Conference Call
9:30 a.m. (US EST)
Phone: +55 (11) 3127-4971
Code: CCP
Replay: +55 (11) 3127-4999
Code: 71992216

About Cyrela Commercial Properties:

CCP is one of Brazil's leading commercial real estate companies, focusing on the development and acquisition for leasing of high quality office buildings, shopping malls and distribution centers. Based on its extensive experience and knowledge of the property market, it also seeks out opportunities to purchase, sell and resell commercial properties which it believes will generate gains. Currently, it possesses 189,000 sq.m. of leasable area and more 348,000 sq.m. in projects under development to be delivered within the next few years.

SOURCE Cyrela Commerical Properties S.A.

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