ANNUAL REPORT 2015
MESSAGE FROM MANAGEMENT
THE BRAZILIAN MALL SECTOR
OUR DREAM AND VALUES
OUR COMPANY'S LEADERS
RELÁTORIO ANUAL 2015
On 4Q15 our
was in line with the prior year period at
. In 2015, net revenue was
, growing 3.7% from 2014.
Excluding the effects from the assets sold over the last 12 months, our net revenues grew by 6.4% in 2015.
in 4Q15 was
, increasing 0.7% from 4Q14, with a margin of 92.6% in the quarter. We ended the year with NOI of
, growing 3.9% from 2014 with a 91.8% margin. During 2015, our Same-mall NOI was 6.2%.
in the quarter. Adjusted EBITDA margin stood at 81.8%. We ended 2015 with adjusted EBITDA of
and a 79.7% margin.
Excluding the effects from our asset sales, our adjusted EBITDA grew by 3.4% in 4Q15 and 5.8% in 2015.
. In 2015,
was R$413.2 million.
in 4Q15 and 7.3% in 2015, while same-store sales grew by
in 4Q15 and
in the year.
We ended 4Q15 with an
in our malls. Despite the deterioration of the Brazilian macroeconomic scenario, we were able to improve our occupation rate by 10bps from 3Q15.
We ended the quarter with a year low
net late payment
, a 70 bps improvement over 3Q15.
on 4Q15, an improvement of 90bps over 3Q15.