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Consolidated NOI reaches R$ 193.2 million in 2013 with growth of 21.6% for the year and 18.1% in the fourth quarter

SAO PAULO, March 28, 2014 /PRNewswire/ -- General Shopping Brasil S/A [BM&FBovespa: GSHP3], one of the largest shopping mall companies in Brazil, announces 4Q13 earnings results.

  • General Shopping Brasil S/A's fourth quarter 2013 (4Q13) gross revenue was R$ 71.6 million, a year-on-year increase of 16.5% compared with the R$ 61.5 million reported in the fourth quarter of 2012 (4Q12). For the year 2013 as a whole, gross revenue rose 23.3% in relation to 2012, totaling R$ 241.9 million.
  • Consolidated Net Operating Income (NOI) for 4Q13 was R$ 57.3 million, a margin of 88.0% and a growth of 18.1% in relation to the R$ 48.5 million registered in 4Q12. In 2013, consolidated NOI was R$ 193.2 million, equivalent to a margin of 87.6% and year-on-year growth of 21.6%.
  • The Company posted a Gross Profit in 4Q13 of R$ 51.7 million, representing a margin of 79.3% and growth of 14.8% compared to the R$ 45.0 million in 4Q12. In 2013, gross profit was R$ 172.3 million, a margin of 78.1% and growth of 19.3% in relation to 2012.
  • Adjusted EBITDA in 4Q13 reached R$ 46.3 million, equivalent to a margin of 71.2% and a growth of 19.7% in relation to the R$ 38.7 million posted in 4Q12. In 2013, adjusted EBITDA was R$ 154.0 million, a margin of 69.8% and a growth of 22.3% compared with 2012.

For more information about the performance of the GSB, see the release on the link below:




General Shopping Brasil's 4Q13 Earnings Conference Call



Friday March 28, 2014 @ 2:00 PM in Portuguese and 03:00 PM in English.


Where: (portuguese)



Live over the Internet -- Simply log on to the web at the address above.

Conference call dial-in phone numbers: From the US: 1-786-924-6977; from Brazil: 11 3193-1001; from other countries: 1-888-700-0802

Contact: Investor Relations Area of General Shopping Brasil - + 55 11 3159-5100, [email protected], or Silvia Pinheiro, from FIRB - Financial Investor Relations Brasil - + 55 11 3500-5564, [email protected]

SOURCE General Shopping Brasil S.A.

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