General Shopping Brasil - Gross Revenue reaches R$ 66.6 million, 22.0% higher than 1Q13

USA - English

• Brazil - Português

SAO PAULO, May 15, 2014 /PRNewswire/ -- General Shopping Brasil S/A [BM&FBovespa: GSHP3], one of the largest shopping mall companies in Brazil, announces 1Q14 earnings results.

• General Shopping Brasil S/A reported first quarter 2014 (1Q14) gross revenue of R$ 66.6 million, representing an increase of 22.0% compared with R$ 54.5 million in the first quarter of 2013 (1Q13).
• Consolidated Net Operating Income (NOI) for 1Q14 posted R$ 52.9 million, equivalent to a margin of 86.6% and growth of 21.4% in relation to the R$ 43.5 million in 1Q13.
• The Company posted Gross Profit in 1Q14 of R$ 46.9 million, with a margin of 76.8% and growth of 23.1% compared with the R$ 38.0 million recorded for 1Q13.
• Adjusted EBITDA in 1Q14 reached R$ 42.6 million, that is a margin of 69.8% and a growth of 23.7% in relation to the R$ 34.4 million for 1Q13.

For more information about the performance of the GSB, see the release on the link below:
http://www.firb.com/general_shopping/GSB_release_1Q14.pdf

CONFERENCE CALLS ON THE 1Q14

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.