CCP announces results - Net Income from 9M12 grows 39.4% to reach R$116.1 MM
SAO PAULO, Nov. 9, 2012
SAO PAULO, Nov. 9, 2012 /PRNewswire/ -- Cyrela Commercial Properties S.A.
Empreendimentos e Participacoes (BM&F-Bovespa: CCPR3) announced yesterday its
The financial vacancy (revenues achieved over total potential revenues) was
0.2% - the office- and distribution center- portfolio maintained zero vacancy.
On the shopping center portfolio, financial vacancy stood at 1.0%.
Net Revenues reached R$366.6 million on 9M12 (+95.7% over 9M11). EBITDA for
the same period was R$179.1 million (+45.6% vs. 2011).
After the quarter, CCP announced the opening of an expansion to the Grand
Plaza Shopping (Santo Andre, SP), with 14,534 m2 of GLA, and 113 shops (96%
leased on opening day). The Company also launched the Shopping Cerrado
(Goiania, GO). The 32,500 square meter development is already fully anchored.
Construction works will commence on 1Q13.
On 10/31/12, CCP sold 10,198 m2 of private area on the CEO Corporate Triple A
office project developed in Barra da Tijuca (Rio de Janeiro, RJ), to a Real
Estate Investment Fund. Transaction value was R$150.7 million. The Fund was
fully subscribed within three business days from launching by over 3,500
investors, almost entirely individuals. There is a minimum guaranteed
remuneration provision in place for a 9% per annum nominal return from
subscription date up to 24 months after the delivery of the building. CCP will
maintain its 25% ownership interest on the second tower of the project and
will be responsible for the management of the complex.
November 9, 2012
Time: 12:00 p.m. (Brasilia)/09:00 am (EST)
Dial in: +1 (412) 317-6776
Investor Relations Information
Tel.: (11) 3018-7601
CCP is one of Brazil's leading companies of development, acquisition, leasing,
sale and management of commercial real estate. The Company focuses on the
Triple A Corporate Office Buildings, Shopping Malls and Industrial
Distribution Center and has operations in Sao Paulo, Rio de Janeiro, Minas
Gerais, Goias, Bahia and Para.CCP has a operational portfolio of 215 thousand
square meters (Gross leasable area) and another 348 thousand square meters
under development, to be delivered on coming periods. With over 16 years of
experience in the field, the Company resulted from the spin-off, in 2007, of
commercial real estate-related assets of Cyrela Brazil Realty. The Company is
listed at the Novo Mercado in the Brazilian BMF&Bovespa exchange. It trades
under the ticker symbol CCPR3.
SOURCE Cyrela Commercial Properties S.A.
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