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Net revenue totaled R$83.4 million in 3Q15, a 3.5% increase over 3Q14.
NOI reached R$79.1 million in 3Q15, an increase of 3.9% compared to 3Q14. Strong leasing spreads in some of our mature malls together with the ramp-up of our younger assets helped the NOI increase.
Adjusted EBITDA was R$58.3 million in 3Q15, 1.9% above 3Q14.
Adjusted FFO totaled R$37.7 million in 3Q15, stable from 3Q14.
Occupancy in our mature portfolio remained high, at 97.2% in 3Q15.
Same-store rent (SSR) continued to report compelling growth in 3Q15, at 6.4% compared to 3Q14, led by the combination of high leasing spreads in our mature malls, high inflation adjustments of lease contracts and the ramp-up of our younger shopping centers.
Late Payments index decreased to 3.36% in 3Q15.
Same-store sales (SSS) decreased by 1.6% in 3Q15 compared to 3Q14, impacted by the adverse Brazilian economic scenario. Excluding electronics, SSS in the quarter increased by 1.0%.
Total sales at the Company’s malls in 3Q15 totaled R$ 1.1 billion, increasing 0.9% over 3Q14.
Net income totaled R$21.8 million in the quarter, a reduction of 8.3% compared to 3Q14.
On November 5th, the Company announced the opening of Uberlândia Shopping’s expansion.