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4Q16

HIGHLIGHTS
    
• For the fifth consecutive quarter, the occupancy rate in our portfolio improved and closed 2016 at 95.4%. In 2016, our overall occupancy rate increased 223 bps.

• Same-store rents (SSR) continued to increase, growing 5.9% in 4Q16 compared to 4Q15, the highest level of the year. In 2016, the index reported a 5.0% growth over the previous year. 

• Tenants’ sales grew 2.1% in 4Q16 over the same period of last year, being also the best relative performing quarter of 2016.

• Same-store sales (SSS) had another positive quarter, increasing 0.5% in 4Q16 compared to the fourth quarter of 2015. All tenants’ segments reported positive SSS in the quarter.

• Net revenue totaled R$93.1 million in 4Q16, 7.5% higher than in 4Q15. In 2016, the consolidated net revenue grew 3.4% y-o-y, reaching R$342.3 million.

• NOI reached R$92.6 million in 4Q16, a 10.6% increase over the same period of 2015. In 2016, NOI totaled R$332.5 million, 5.4% higher than in 2015. 
 
• EBITDA reached R$66.6 million in 4Q16, growing 10.6% compared to 4Q15. In 2016, EBITDA totaled R$239.8 million, an increase of 3.1% over the previous year.

• FFO was R$41.7 million in 4Q16, 25.3% higher than in 4Q15. In 2016, FFO was R$140.1 million, just 1.7% below the reported in 2015.

• Late payments decreased once again and closed the quarter at 3.98%, the lowest level of the year.

• The Company’s Board of Directors will propose the payment of dividends related to the 2016 fiscal year, totaling R$34.8 million or R$0.455 per share.