General Shopping Brasil - Gross Revenue Increases 14.3% and Consolidated NOI Rises 25.7% With Margin at 87.2%

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Aug 13, 2010, 11:03 ET

SAO PAULO, Aug. 13 /PRNewswire-FirstCall/ -- General Shopping Brasil S/A [BM&FBOVESPA: GSHP3], one of the largest shopping mall companies in Brazil, announces its second quarter 2010 earnings.

Operating and financial highlights

General Shopping Brasil's gross revenue totaled R$ 30.0 million in 2Q10, up 14.3% over the revenue of R$ 26.2 million in 2Q09. In 1H10, gross revenue was R$ 59.1 million, a growth of 15.3% as compared with 1H09.

Consolidated NOI of 2Q10 reached R$ 24.1 million, with margin at 87.2% and a growth of 25.7% in relation to R$ 19.2 million in 2Q09. In 1H10, consolidated NOI was R$ 46.9 million, with margin at 86.4% and a growth of 23.0% in comparison with 1H09.

Gross Profit in 2Q10 was R$ 22.0 million, with a 79.5% margin and a 29.4% increase in comparison with R$ 17.0 million in 2Q09. In 1H10, gross profit totaled R$ 42.4 million, with a 78.1% margin and a 25.7% increase in relation to 1H09.

Adjusted EBITDA in 2Q10 reached R$ 19.5 million, with margin at 70.5%, up 18.3% in comparison with R$ 16.5 million in 2Q09. In 1H10, adjusted EBITDA was R$ 38.2 million, with margin at 70.4%, up 17.9% as compared with 1H09.

http://release.firb.com/general_shopping/GSB_release_2Q10.pdf

CONFERENCE CALLS ON THE 2Q10 EARNINGS

August 16, 2010

IN ENGLISH
9:30 a.m (ET)

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