General Shopping Brasil Announces Adjusted EBITDA grew 26.4% with margin at 70.4% in 1Q12

USA - English

• Brazil - Português

SAO PAULO, May 16, 2012 /PRNewswire/ -- General Shopping Brasil S/A [BM&FBovespa: GSHP3], one of the largest shopping mall companies in Brazil, announces 1Q12 earnings results.

• General Shopping Brasil's Gross Revenue in the first quarter of 2012 (1Q12) totaled R$ 40.9 million, up 24.6% over the R$ 32.8 million  reached in the first quarter of 2011 (1Q11).
•  Consolidated NOI reached R$ 33.5 million in 1Q12, with margin at 88.0%, up 24.6% in comparison with the R$ 26.9 million registered in 1Q11.
• Gross Profit in 1Q12 was R$ 29.9 million, with a 78.6% margin and a 22.8% increase in comparison with the R$ 24.4 million of 1Q11.
• Adjusted EBITDA reached R$ 26.8 million in 1Q12, with margin at 70.4%, up 26.4% over the R$ 21.2 million registered in 1Q11.
• Subordinated Perpetual bonds issue amounting to US$ 150 million.

For more information about the performance of the GSB, see the release on the link below:

http://release.firb.com/general_shopping/GSB_release_1Q12.pdf

CONFERENCE CALLS ON THE 1Q12

What:     General Shopping Brasil 1^st Quarter 2012 Earnings Conference Call

When:     Wednesday, May 16, 2012 @ 08:00 AM EDT in Portuguese and 09:00 AM EDT in English.

Where: http://www.mediatown.com.br/prnewswire/player/?id=882            

                             (portuguese)

           http://www.mediatown.com.br/prnewswire/player/?id=883

                                (english)   

How:   Live over the Internet -- Simply log on to the web at the address above.

Conference call dial-in phone numbers: From the US: 1-888-700-0802 (toll-free from the US); from Brazil: 11 4688-6361; from other countries: 1-786-924-6977

         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]

If you are unable to participate during the live webcast, the call will be archived at http://www.generalshopping.com.br. To access the replay, click on Investors Section.

SOURCE General Shopping Brasil S/A