General Shopping Brasil - Company reports an Adjusted EBITDA of R$ 45.2 million, 24.4% higher than 3Q13

USA - English

• Brazil - Português

SAO PAULO, Nov. 13, 2014 /PRNewswire/ -- General Shopping Brasil S/A [BM&FBovespa: GSHP3], one of the largest shopping mall companies in Brazil, announces 3Q14 earnings results.

• General Shopping Brasil S/A reported third quarter - 3Q14 - Gross Revenue of R$ 68.3 million, representing a growth of 17.7% compared with R$ 58.0 million in the third quarter of 2013 - 3Q13. In the first nine months of 2014 - 9M14, gross revenue rose to R$ 201.7 million, an 18.5% increase in relation to 9M13.
• Consolidated Net Operating Income (NOI) for 3Q14 was R$ 54.6 million, corresponding to a margin of 86.7% and a growth of 17.9% when compared with the R$ 46.3 million posted in 3Q13. In 9M14, consolidated NOI amounted to R$ 160.3 million, representing a margin of 86.5% and a growth of 18.0% against 9M13.
• The Company recorded a 3Q14 Gross Profit of R$ 47.9 million, equivalent to a margin of 76.0% and growth of 14.7% compared with R$ 41.7 million reported in 3Q13. In 9M14, Gross Profit totaled R$ 141.1 million, equivalent to a margin of 76.1% and a growth of 17.0% in relation to 9M13.
• Adjusted EBITDA in 3Q14 reached R$ 45.2 million, corresponding to a margin of 71.7% and growth of 24.4% compared with R$ 36.3 million reported in 3Q13. In 9M14, adjusted EBITDA was R$ 130.5 million, equivalent to a margin of 70.4%, a growth of 21.2% compared with 9M13.

For more information about the performance of the GSB, see the release on the link below: http://www.firb.com/general_shopping/GSB_release_3Q14.pdf

CONFERENCE CALLS ON THE 3Q14

Conference call dial-in phone numbers: From the US: 1-786-924-6977; from Brazil: 11 3193-1001; from other countries: 1-888-700-0802

Contact: Investor Relations Area of General Shopping Brasil - + 55 11 3159-5100, [email protected], or Silvia Pinheiro, from FIRB - Financial Investor Relations Brasil - + 55 11 3500-5564, [email protected]

SOURCE General Shopping Brasil S.A.