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3Q11

Highlights

  • The Company's Net Revenue increased 21.2% to R$54.8 million in 3Q11 compared to R$45.2 million in 3Q10.

  • Adjusted EBITDA totaled R$41.1 million in 3Q11, an increase of 22.9% over the same period of last year. Adjusted EBITDA margin reached 75.1% in 3Q11.

  • Adjusted FFO totaled R$43.2 million, an 81.1% increase over 3Q10. Adjusted FFO margin reached 78.9% in 3Q11.

  • Same-store rent (SSR) reached, once again, a strong double-digit growth of 13.0% in 3Q11 and Same-store sales (SSS) increased by 7.3%.

  • Total Net Income attributable to shareholders reached R$58.5 million in 3Q11, from R$27.3 million in 3Q10, a 114.1% increase.

  • In September, the Company started the construction of Passeio das Águas Shopping in Goiânia, which is scheduled to open in the second half of 2013.

  • Also in September, Sonae Sierra Brasil successfully opened the expansion of Shopping Campo Limpo, adding 2.5 thousand sqm of GLA and bringing 18 new stores to the mall.