CCP Reports Net Income Growth of 85% in 2009
Net Margin of 43.3% and FFO Margin of 48.1%
Adjusted EBITDA of R$ 105.9 million with Adjusted EBITDA Margin of 84.2%
SAO PAULO, March 18 /PRNewswire-FirstCall/ -- Cyrela Commercial Properties S.A. Empreendimentos e Participacoes (Bovespa: CCPR3), one of the leading commercial property investment and leasing companies in Brazil, announces its results for the fourth quarter and year 2009.
2009 Highlights
Net Revenue R$ 144.52 million
Gross Profit R$ 124.5 million
Gross Margin 86.2%
Adjusted EBITDA R$ 105.61 million
Adjusted EBITDA Margin 84.0 %
Adjusted NOI R$ 120.55 million
Adjusted NOI Margin 95.9%
FFO R$ 69.45 million
FFO Margin 48.1 %
Net Income R$ 62.51 million
Net Margin 43.3 %
4Q09 Results Conference Call
Friday, March 19, 2010
Portuguese Conference Call
English Conference Call 9:00 a.m. (US EST)
11:00 a.m. (US EST) Phone: +55 (11) 2188-0188
Phone: +1 (412) 858-4600 Code:CCP
Code: CCP Replay: +55 (11) 2188-0188
Replay: +1 (877) 344-7529 Code: CCP
Code: 434981
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 193,000 sq.m. of leasable area and a further 171,000 sq.m. in projects under development to be delivered within the next few years.
SOURCE Cyrela Commercial Properties
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