General Shopping Brasil reports 2014 Adjusted EBITDA of R$ 176.9 million, a year-on-year improvement of 14.9%

USA - English

• Brazil - Português

SAO PAULO, March 30, 2015 /PRNewswire/ -- General Shopping Brasil S/A (BM&FBovespa: GSHP3), one of the largest shopping mall companies in Brazil, announces 4Q14 earnings results.

• General Shopping Brasil S/A reported fourth quarter 2014 (4Q14) Gross Revenue of R$ 73.7 million, growth of 2.9% compared with R$ 71.6 million in the fourth quarter of 2013 (4Q13). For full fiscal year 2014, gross revenue posted a year-on-year increase of 13.8% reaching R$ 275.3 million.
• Fourth quarter Consolidated Net Operating Income (NOI) was R$ 58.1 million, corresponding to a margin of 88.4% and a 1.5% increase in relation to the R$ 57.3 million registered in 4Q13. In 2014, consolidated NOI was R$ 218.4 million, equivalent to a margin of 87.0% and growth of 13.1% compared with 2013.
• In 4Q14, Gross Profit was R$ 73.5 million, an increase of 7.5% compared with R$ 68.4 million of 4Q13. In 2014, gross profit amounted to R$ 214.6 million, representing a margin of 85.5% and an increase of 13.5% in relation to 2013.
• Adjusted EBITDA in 4Q14 reached R$ 46.4 million, corresponding to a margin of 70.6% and a growth of 0.2% in relation to the R$ 46.3 million in 4Q13. In 2014, Adjusted EBITDA was R$ 176.9 million, a margin of 70.5%, growth of 14.9% compared with 2013.

For more information about the performance of GSB, see the release at the link below: http://www.firb.com/general_shopping/GSB_release_4Q14.pdf

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.