Sales in Aliansce's Shopping Malls Grew by 23.8% in 1Q11

Same-area sales (SAS) and same-store sales (SSS) increased by 11.1% and 10.2%, respectively

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Aliansce Shopping Centers S.A.

May 11, 2011, 09:56 ET

RIO DE JANEIRO, May 11, 2011 /PRNewswire/ -- Aliansce Shopping Centers S.A. (BM&FBovespa: ALSC3), announces today its results for the 1Q11.

1Q11 Highlights and Recent Events

The financial information highlighted below is managerial and based on the Company's consolidated financial statements:

  • In 1Q11, gross revenue was R$65.4 million, a growth of 28.5% over 1Q10.
  • NOI expanded by 35.3% in 1Q11 from the same period last year, reaching R$50.2 million, due to the better performance of the portfolio and the expansion in owned GLA.
  • Adjusted EBITDA was R$37.7 million in 1Q11, for growth of 21.5% from 1Q10, while adjusted EBITDA margin reached 62.3%.
  • Adjusted funds from operations (AFFO) of R$33.3 million, while AFFO margin reached 55.0%.
  • Net income of R$8.7 million in 1Q11. Note that the results of 1Q11 were impacted by the payment of bonuses, including charges, to the senior executives in the amount of R$4.6 million. In 2010, the bonuses were paid in the second quarter.
  • The malls occupancy rate stood at 98.2%, excluding Boulevard Shopping Belo Horizonte, which was inaugurated on October 26, 2010.
  • In 1Q11, the Company invested R$22.4 million in greenfield projects, the acquisition of additional ownership in Supershopping Osasco and mall expansions.

On April 26, 2011, Aliansce opened its ninth mall in less than 5 years. Boulevard Shopping Campos increased the Company's owned GLA by 9,500 sqm to reach 273.8 thousand sqm.  Boulevard Campos has 96% of its GLA leased and is the city's first regional shopping mall.  "We will continue with our strategy of pursuing development opportunities in markets where there is an inherent disequilibrium between the supply and demand of GLA", says Henrique Cordeiro Guerra, Aliansce's CEO and Investor Relations Officer

Full Earnings Release is available on Aliansce's IR website: http://www.aliansce.com.br/ir

Aliansce will be hosting conference calls to discuss 1Q11 Results on Thursday, May 12, 2011 at 10:00 a.m. ET (Portuguese) and 11:00 a.m. ET (English). Please see the Company's IR website for connecting numbers.

For further information, please contact Aliansce's Investor Relations Department:

Phone: +55 21 2176-7272
Fax: +55 21 2176-7229
E-mail: [email protected]
Website: www.aliansce.com.br/ir

SOURCE Aliansce Shopping Centers S.A.

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