SOURCE: BR MALLS Participacoes S.A.

January 18, 2010 17:09 ET

BRMALLS Discloses Preliminary 4Q09 and 2009 Tenants Sales and Rent Performance

RIO DE JANEIRO, BRAZIL--(Marketwire - January 18, 2010) - BR MALLS Participações S.A. (BOVESPA: BRML3), the largest shopping mall company in Brazil, announces its preliminary tenant sales and rent results, as well as the occupancy and late payment (30 days) levels for the fourth quarter of 2009 (4Q09).

BRMALLS SHOPPING MALLS RECORD TOTAL 4Q09 SALES OF R$ 3.6 BILLION AND 2009 SALES OF R$ 11 BILLION

Consolidated sales volume totaled R$ 3.6 billion in the 4Q09, a 15.3% year-over-year increase. In 2009, the concolidated sales volume reached R$ 11 billion, an increase of 13.5% when compared with 2008 sales.

SAME STORE SALES GROWTH PRESENTED STRONG ACCELERATION, REACHING 11% IN 4Q09

Same store sales (SSS) in 4Q09 grew by 11%, presenting a considerable increase when compared to 5.1% growth in 3Q09, and 8.8% growth in 4Q08. This acceleration was mainly due to the recovery of the anchors' SSS, which reached a 7.7% growth in 4Q09, in contrast to a 0.4% growth in 4Q08. Same store sales for satellite and leisure stores continued the strong growth pace in the quarter, recording 11.7% and 17.8% growth, respectively.

In 2009 the consolidated SSS presented a 7% growth. We highlight the leisure segment SSS growth of 19.5%, followed by the satellite SSS growth of 9.8%.

SAME STORE RENT INCREASES 10.5% IN 2009

In the 4Q09 same store rent (SSR) growth was 8.8%. In the year, the consolidated SSR reached a 10.5% growth.

WE ENDED THE 4Q09 WITH THE HIGHEST OCCUPANCY ON THE HISTORY OF THE COMPANY

The occupancy level reached once again the highest level ever in BRMALLS' history, closing 4Q09 with an average of 97.9% compared to 97.3% in 3Q09. We highlight December's occupancy level that reached 98%, the highest level in the company's history, with 8 malls 100% occupied.

Late payments (30 days) improved considerably, from an average of 4.2% in 4Q08 to 3.2% in 4Q09. Once again we highlight December's performance, with late payments reaching the historical minimum of 2.7%.

Contact Information

  • Phone.: (55 21) 3138-9900
    Fax: (55 21) 3138-9901
    E-mail: ri@brmalls.com.br
    Leandro Bousquet