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1Q16

HIGHLIGHTS
 
Net revenue totaled R$83.5 million in 1Q16, growing 2.9% when compared to 1Q15. 
 
Rental revenue totaled R$77.4 million in the quarter, a 6.6% increase over 1Q15.
 
NOI reached R$79.7 million in 1Q16, a 4.0% increase over the same period of last year.
 
EBITDA was R$64.0 million in 1Q16, 10.7% higher than 1Q15.
 
FFO totaled R$35.1 million in 1Q16, 3.5% below 1Q15.
 
Occupancy in our mature portfolio improved to 98.0% while overall occupancy improved to 93.4% in 1Q16 versus 4Q15.
 
Same-store rents (SSR) continued to increase in 1Q16, growing 5.0% compared to 1Q15. 
 
Same-store sales (SSS) decreased by 2.1% in 1Q16 compared to 1Q15, still reflecting the adverse Brazilian economic scenario.
 
Total sales at the Company’s malls in 1Q16 totaled R$ 1.0 billion, increasing 0.3% over 1Q15. The severe effects of the recession for the retail and unstable political scenario continued to pressure families’ consumption, and, thus, tenants’ sales in our malls.
 
In March 2016, the Company concluded of the sale of its entire ownership on Boavista Shopping.
 
On April 27, the Company’s 2016 General Shareholders’ Meeting approved the payment of dividends related to the 2015 fiscal year, totaling R$34.8 million or R$0.455 per share, to be paid on May 20th, 2016.