CCP Announces Net Income of R$ 25 million in 3Q11, 92% up on 3T10

Brazil - Português

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Nov 08, 2011, 08:23 ET

SAO PAULO, Nov. 8, 2011 /PRNewswire/ -- Cyrela Commercial Properties S.A. Empreendimentos e Participaçoes (BM&FBovespa: CCPR3), one of the leading commercial property investment and leasing companies in Brazil, announces its results for the Third Quarter of 2011.

3Q11 Highlights


Net Revenue	R$ 54.96 million
EBITDA	R$ 39.29 million
EBITDA Margin	71.5%
Adjusted EBITDA	R$ 38.08 million
Adjusted EBITDA Margin	80.3%
NOI	R$ 41.26 million
NOI Margin	94.1%
FFO	R$ 26.70 million
FFO Margin	48.6%
FFO per share	R$ 0.323
Net Income	R$ 25.09 million
Net Margin	45.7%
Net Income per share	R$ 0.304

3Q11 Results Conference Call Wednesday, November 9, 2011
English Conference Call 9:30 a.m. (US EST) Phone: +1 (412) 317-6776 Code: CCP Replay: +1 (412) 317-0088 Code: 10005473	Portuguese Conference Call 8:30 a.m. (US EST) Phone: +55 (11) 3127-4971 Code: CCP Replay: +55 (11) 3127-4999 Code: 61984167

For further information, please contact:
Investor Relations - Cyrela Commercial Properties
Rachel Xazier
Phone: +55 (11) 3018-7601
e-mail: [email protected]
www.ccpsa.com.br/ir

About Cyrela Commercial Properties:

CCP is one of Brazil's leading commercial real estate companies, focusing on the development and acquisition for leasing of high quality office buildings, shopping malls and distribution centers. Based on its extensive experience and knowledge of the property market, it also seeks out opportunities to purchase, sell and resell commercial properties which it believes will generate gains. Currently, it possesses 200,000 sq.m. of leasable area and more 300,000 sq.m. in projects under development to be delivered within the next few years.

SOURCE Cyrela Commercial Properties S.A.