Aliansce Reports 2010 and 4Q10 Results and Financial and Operating Highlights

Mar 21, 2011, 19:32 ET from Aliansce Shopping Centers S.A.

RIO DE JANEIRO, March 21, 2011 /PRNewswire/ -- Aliansce Shopping Centers S.A. (Bovespa: ALSC3), one of the largest shopping mall owners and administrators in Brazil, announces today its results for the 4Q10.

4Q10 highlights and recent events

The following financial information highlighted below is managerial and based on the Company's consolidated financial statements:

  • Sales in the Company's shopping malls grew by 27.5% in 4Q10, while same-store sales (SSS) increased by 14.9%.
  • Net income totaled R$70.5 million in 2010, 24.9% up on 2009.
  • Gross revenue in 2010 increased by 30.1% to R$223.5 million, while 4Q10 gross revenue climbed by 28.5% to R$67.1 million.
  • Net operating income (NOI) grew by 29.9% and 21.8%, respectively, in 2010 and 4Q10.  
  • Adjusted EBITDA moved up by 30.6% to R$138.3 million in 2010, with a margin of 66.9%. In 4Q10, adjusted EBITDA increased by 30.5% over 4Q09, with a margin of 67.8%.
  • Adjusted funds from operations (AFFO) grew by 73.3% to R$124.7 million in 2010, with a margin of 60.3%. In 4Q10, AFFO increased 67.2% to R$32.4 million, with a margin of 52.6%.
  • The malls occupancy rate stood at 97.9%, excluding only Boulevard Shopping Belo Horizonte, which was inaugurated on October 26, 2010.
  • In 4Q10, the Company invested R$207.6 million. In 2010, investments totaled R$372.2 million.
  • On November 5, 2010, Aliansce acquired an 18,255 sqm site, adjacent to Via Parque Shopping in Barra da Tijuca, Rio de Janeiro. On November 11, 2010, the company acquired 30% of the construction rights for a corporate tower to be built on top of Boulevard Shopping Belo Horizonte. Aliansce now holds a 100% interest in the tower and continues with 70% in the mall.  
  • On November 19, 2010, the minority shareholders approved the acquisition of 50% of Boulevard Shopping Campos at an Extraordinary Shareholders' Meeting. The mall, with 19,000 sqm of GLA, is under construction and is scheduled to open in April 26, 2011.  
  • On November 22, 2010, the Company acquired an additional 6.0% interest in Boulevard Shopping Campina Grande and now owns 36.52% of the mall.
  • On December 3, 2010, the Company opened the second expansion of Bangu Shopping, adding 5,611 sqm of GLA, increasing the mall's total GLA to 51,929 sqm.
  • On February 03, 2011, the Company announced an agreement with Cyrela for the construction of two commercial towers on top of Carioca Shopping. On the same day, the Company also announced that the expansion's total GLA increased from 8,200 sqm to 10,700 sqm, with inauguration scheduled for 4Q12.

Full Earnings Release is available on Aliansce's IR website:

Aliansce will be hosting conference calls to discuss 4Q10 Results on Tuesday, March 22, 2011 at 9:00 a.m. ET (Portuguese) and 11:00 a.m. ET (English). Please see the Company's IR website for connecting numbers.

For further information, please contact Aliansce's Investor Relations Department:

Phone: +55 21 2176-7272

Fax: +55 21 2176-7229



SOURCE Aliansce Shopping Centers S.A.