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Net Income grew by 27.8% over the same period of last year, reaching R$ 19.3 million.
Same-store rent (SSR) continued to post strong double-digit growth in 1Q15, growing 10.8% compared to 1Q14, led by the combination of high leasing spreads in our mature malls, high inflation adjustments of lease contracts and the ramp-up of our newer shopping centers.
Same-store sales (SSS) increased by 6.4% in 1Q15 compared to 1Q14, positively impacted by the performance of anchor and leisure segments in our mature portfolio  and also by our three younger malls’ strong double digits figures.
Total sales at the Company’s malls in 1Q15 totaled R$ 1.1 billion, a 9.5% increase over 1Q14, also influenced by the ramp-up of our newer malls together with tenant mix updates in our consolidated malls.
Occupancy in our mature portfolio increased to 98.6% in 1Q15 versus 97.3% in 1Q14. Occupancy rates in our new malls increased significantly in the last twelve months, mainly in Boulevard Londrina (490 bps to 94.0%) and Passeio das Águas (460 bps to 89.6%), leading to the 190 bps increase in the portfolio’s consolidated occupancy rate. 
Net revenue totaled R$ 81.2 million in 1Q15, a 9.3% increase over 1Q14, led by organic revenue growth and lower discounts in rental contracts.
NOI reached R$ 76.6 million in 1Q15, an increase of 9.6% compared to 1Q14. Strong leasing spreads in our mature malls and the aforementioned ramp-up of our newer malls, together with lower costs with vacant stores contributed for the NOI growth.
Adjusted EBITDA was R$ 57.8 million in 1Q15, 14.4% above 1Q14. Adjusted EBITDA margin improved 322 bps, to 71.2%. Temporary costs related to our newer malls are decreasing, leading to margin improvements.
Adjusted FFO (considering the consolidation of 51% of Parque D. Pedro Shopping) totaled R$ 23.1 million in 1Q15, 32.1% above 1Q14. Adjusted FFO margin registered an even more impressive improvement, increasing 625 bps, to 34.6%.