SAO PAULO, March 26, 2011 /PRNewswire/ -- Sao Carlos Empreendimentos e Participacoes SA (BM&FBovespa: SCAR3) announces today its results for the fourth quarter and year of 2010.
. ACQUISITION OF R$ 450 MILLION IN NEW PROPERTIES IN 2010, with an average cap rate of 14.3%; disposals totaled R$ 145 million, with an average cap rate of 10.6%;
. REAL ESTATE PORTFOLIO REACHES ESTIMATED MARKET VALUE OF R$2.22 BILLION (vs. R$ 1.47 billion in December/2009) and net asset value (NAV) reaches R$ 30/share;
. RECURRING LEASE REVENUE ESTIMATED AT R$ 214 MILLION/YEAR;
. Pro forma EBITDA MARGIN of 83% in 2010;
. NET INCOME TOTALED R$ 92 MILLION IN 2010, approximately R$ 44 million of which referring to property sales; and
CASH BALANCE AMOUNTED TO R$ 321 MILLION AT YEAR END; buying power estimated at R$ 1 billion.
To access the full "4Q10 Earnings Release", please access our website: www.scsa.com.br/ir and to listen to our conference call on the 4Q10 results use the information below:
ENGLISH (MARCH 28, 2011, MONDAY)
11:00 A.M. (NEW YORK TIME)
12:00 P.M. (BRASILIA TIME)
TEL: +1 (412) 317-6776
CODE: SAO CARLOS
Investor Relations Department
Phone: (55 11) 3048-5413
Sao Carlos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Our goal is to maximize rental revenues from the company's real estate, the assets' renting potential and the portfolio's market value. Our business strategy includes the investment in new commercial properties, reform and maintenance of our real estate, optimization of condominium administration and sale of properties that already attained maturation. We currently have a portfolio which includes mainly office buildings and retail stores located in the States of Sao Paulo and Rio de Janeiro.
SOURCE Sao Carlos Empreendimentos e Participacoes SA