General Shopping Brasil - Net Revenue Increases 15.5% and Consolidated NOI Grows 17.5% Reaching R$ 100.6 Million With Margin at 86.6% in 2010

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General Shopping Brasil S/A

Mar 25, 2011, 12:24 ET

SAO PAULO, March 25, 2011 /PRNewswire/ -- General Shopping Brasil S/A [BM&FBovespa: GSHP3], a company with significant participation in the Brazilian shopping mall industry, announces its fourth quarter and the year of 2010 earnings.

Operating and financial highlights

  • General Shopping Brasil's gross revenue grew 13.3% in 2010 when compared with 2009, reaching R$ 126.7 million. In 4Q10, gross revenue totaled R$ 36.2, up 12.7% over the revenue of R$ 32.1 million in 4Q09.
  • In 2010, net revenue amounted to R$ 116,2 million, 15.5% higher than 2009. In 4Q10, net revenue reached R$ 33.0 million, a growth of 13.6% in relation to the R$ 29.1 million registered in 4Q09.
  • Consolidated NOI in 2010 was R$ 100.6 million, with margin at 86.6% and a growth of 17.5% in comparison with 2009. In 4Q10, Consolidated NOI reached R$ 29.0 million, with margin at 87.9% and a growth of 13.0% in relation to R$ 25.7 million registered in 4Q09.
  • Gross Profit in 2010 totaled R$ 91.1 million, with margin at 78.4% and a 20.2% increase in relation to 2009. In 4Q10, it was R$ 26.3 million, with margin at 79.6% and a 16.6% growth in comparison with R$ 22.6 million in 4Q09.
  • Adjusted EBITDA in 2010 was R$ 81.8 million, with margin at 70.4%, up 10.8% as compared with 2009. In 4Q10, adjusted EBITDA reached R$ 23.3 million, with margin at 70.4%, up 2.2% in comparison with the R$ 22,8 million registered in 4Q09.
  • In November 2010, US$ 200 million were raised through the issue of Perpetual Bonds, with a par value of 10% p.a. and with the option of early redemption as of the 5th year.

http://release.firb.com/general_shopping/GSB_release_4Q10.pdf

CONFERENCE CALLS ON THE 4Q10 AND 2010 EARNINGS

March 25, 2011

IN ENGLISH

2:30 p.m. (EDT)

Dial-in Phone Numbers

Parties from Brazil

55 11 4688-6361

Toll-free from the U.S.

1-888-700-0802

Parties from other countries

1-786-924-6977

Webcast: http://www.mediatown.com.br/prnewswire/player/?id=501

IN PORTUGUESE

1:30 p.m. (EDT)

Dial-in Phone Number

55 11 4688-6361

Webcast: http://www.mediatown.com.br/prnewswire/player/?id=500

Contact:
General Shopping S/A Investor Relations Area
Alessandro Poli Veronezi – CEO and Investor Relations Officer
Marcio Snioka – Investor Relations Manager
e-mail: [email protected]
Tel: (55-11) 3159-5100

Web Site:  www.generalshopping.com.br

SOURCE General Shopping Brasil S/A

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