Iguatemi Reports 2007 EBITDA of R$ 101.7 Million, 47% Higher Than in 2006 and EBITDA Margin Of 74%. Adjusted Net Income Reaches R$ 72.9 Million, 140% Higher Than in 2006.
SAO PAULO, Brazil, March 18 /PRNewswire-FirstCall/ -- Iguatemi Empresa de Shopping Centers S.A. (Bovespa: IGTA3), one of the leading full-service companies in the Brazilian shopping center sector, announced today its results for fourth quarter 2007 (4Q07) and the full year of 2007. Except where otherwise stated, financial and operational figures are for consolidated results in Reais, and comparisons refer to fourth quarter of 2006 (4Q06) and full year of 2006.
2007 Highlights
-- We entered into an agreement to acquire 100% of the Market Place
complex;
-- Record net sales revenue in 2007: R$ 137.0 million;
-- Funds From Operations (FFO) in 2007: R$ 94.8 million, 87.9% more than
in the previous year;
-- 4Q07 adjusted EBITDA: R$ 36.4 million, 36.7% more than in 4Q06;
-- EBITDA margin: 78.7% in 4Q07, 74.2% in 2007;
-- 2007 adjusted net profit up 64% year-on-year, at R$ 49.8 million;
-- Owned gross leasable area (GLA) 81% higher than a year ago, at 207,400
m(2), reflecting acquisition of 100% of Market Place.
Full earnings release available to download at www.iguatemi.com.br/ir
4Q07/2007 EARNINGS CONFERENCE CALL
Wednesday, March 19, 2008
Portuguese Conference Call English Conference Call
09:00 a.m. (US EDT) 10:00 a.m. (US EDT)
10:00 a.m. (Brasilia Time) 11:00 a.m. (Brasilia Time)
Phone: +55 (11) 2188-0188 Phone: +1 (973) 935-8893
Code: Iguatemi Code: 35603803
About Iguatemi Empresa de Shopping Centers S.A.
Empresa de Shopping Centers S.A. is one of the largest full-service companies in the Brazilian shopping mall sector. Its activities include conception, planning, development and management of regional shopping centers and mixed-use complexes such as commercial towers. The company has holdings in 11 shopping malls, with total GLA of more than 380,000 m(2), in which its ownership interest corresponds to 207,000 m(2). The company takes part in the management of ten of its shopping malls. It also has three shopping malls under development, two in Sao Paulo State and one in Brasilia (Federal District). Iguatemi's shares are listed on the Novo Mercado of the Sao Paulo stock exchange (Bovespa) under the ticker IGTA3.
First Call Analyst:
FCMN Contact:
Source: Iguatemi Empresa de Shopping Centers S.A.
CONTACT: Pedro Jereissati, CFO and Investor Relations Officer; Fernando
Mearim, Manager, Investor Relations; Flavia Carvalho, Investor Relations,
+55-11-3048-7289, ri@iguatemi.com.br, all of Iguatemi Empresa de Shopping
Centers S.A.
Web site: http://www.iguatemi.com.br/ir
2008-03-18 20:51:33 0315688 PRNEWSWIRE