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3Q13

HIGHLIGHTS

 

Net revenue totaled R$ 67.0 million in 3Q13, a 4.2% increase over 3Q12, in spite of selling the Company’s ownership interest in 3 non-core shopping centers in 4Q12. In 9M13, net revenue totaled R$ 197.5 million, a 6.0% increase over 9M12.

 

Adjusted EBITDA totaled R$ 49.4 million in 3Q13. Adjusted EBITDA margin reached 73.7% in the quarter. In 9M13, Adjusted EBITDA increased by 5.1%, reaching R$ 149.1 million.
 
Adjusted FFO totaled R$ 37.1 million in 3Q13, with a 55.4% margin. Adjusted FFO totaled R$ 109.6 million with a 55.5% margin in 9M13.
 
NOI totaled R$ 65.2 million in 3Q13, a 2.1% increase over 3Q12. In 9M13, NOI totaled R$ 193.6 million, a 6.6% increase over 9M12. NOI growth for the comparable malls was 9.7% in 3Q13.
 
Same-store rent (SSR) had yet another strong growth rate in 3Q13, increasing 12.8% compared to 3Q12. In 9M13, SSR grew 11.6% over 9M12.
 
Same-store sales (SSS) increased by 7.0% in 3Q13 over 3Q12. In 9M13, SSS grew 6.7% compared to 9M12.
 
Total sales in the nine operating malls in 3Q13 totaled R$ 971 million, an 11.9% increase over 3Q12. In 9M13, sales totaled R$ 2.7 billion, an increase of 9.2% over 9M12.
 
On September 9th, 2013 we announced the acquisition of a land plot and the expansion of Franca Shopping, which should add approximately 11 thousand sqm to the mall.
 
On October 30th, 2013, Sonae Sierra Brasil opened Passeio das Águas Shopping, located in Goiânia, the capital city of the state of Goiás.