RIO DE JANEIRO, Aug. 14, 2023 /PRNewswire/ — Aliansce Sonae Shopping Centers S.A. (B3: ALSO3), the most innovative experience, entertainment, services, lifestyle and shopping platform in Latin America announces its results for the second quarter of 2023 (2Q23).
2Q23 HIGHLIGHTS
Aliansce Sonae + brMalls is now ALLOS. Considering the changes in consumer behavior and the focus on client experience, ALLOS malls are destinations that solve urban life challenges, inspire and transform moments, serve with excellence and delight, value the pace of life and people’s priorities, and leverage business by creating connections and opportunities. The new brand reinforces the concept of preserving and building new alliances, connecting people with what really matters, expanding the bond with customers, tenants, partners and employees, in a sustainable way, balancing long-term vision and the pursuit of results.
Revenue expands 12.3%. Net revenue totaled R$644 million, with real growth of 9.1%. Rent performance reflected the capture of synergies through expressive discounts’ reduction. Parking and real estate development were also highlights.
SSR reaches 11.5%; Rents grow 11.7%. The Same Store Rent reached 11.5% YoY. This result is in line with the rent revenue performance, reflecting profitability convergence between lease renewals and new leases.
Sales grow 5.4%. Total sales achieved R$9 billion, growing 5.4% versus 2Q22. Three out of the five geographical regions reached double-digit expansion in 1H23, with the Midwest leading at an impressive 12.3% growth.
EBITDA grows 14.1% with 73.5% margin. The positive operational performance, combined with cost and expenses control, drove a 14.1% increase in EBITDA, with a 73.5% margin, an improvement of 113 bps compared to 2Q22.
FFO advances 26.9% and margin rises 5p.p.. The excellent FFO result can be attributed to the relevant EBITDA growth combined with the reduction in financial expenses indexed to inflation.
ESG Reference. The Company was acclaimed by Exame Magazine with the Best of ESG 2023 award, in the “Homebuilding and Real Estate” category.
For a full version of the 2Q23 Earnings Release, please, refer to https://ri.alianscesonae.com.br/en
ALLOS will hold its conference call and webcast on August 15th, at 02:00 p.m. BRT (in english). To access the call, dial +1 (412) 717-9627 / +55 11 3181-8565 / +55 11 4090-1621, code “Aliansce Sonae”. Webcast is available at https://ri.alianscesonae.com.br/en
For more information, contact: + 55 21 2176-7272 or [email protected].br
SOURCE Aliansce Sonae Shopping Centers
Originally published at https://www.prnewswire.com/news-releases/allos-ffo-grows-27-and-margin-rises-5-pp-301900372.html
