CCP announces 2012 results - Net Profit is R$153.0 million; EBITDA totals
SAO PAULO, Feb. 28, 2013
SAO PAULO, Feb. 28, 2013 /PRNewswire/ -- Cyrela Commercial Properties S.A.
Empreendimentos e Participacoes (BM&F-Bovespa: CCPR3) announced yesterday its
2012 and 4Q12 results.
The financial vacancy (revenues achieved over total potential revenues) was
0.33% - the office- and distribution center- portfolio maintained zero
vacancy. On the shopping center portfolio, financial vacancy stood at 1.35%.
Net Revenues reached R$489.9 million in 2012 (+56.8% over 2011). Recurring
Revenues totaled R$213.9 million, a 17.8% increase over the previous year.
EBITDA was R$244.5 million (+40.3% vs. 2011). Adjusted EBITDA (which excludes
the development-related activities) reached R$167.6 million (+19.9%). EBITDA
and Adjusted EBITDA Margins were, respectively, 50.4% and 87.1%.
CCP recorded NOI of R$179.3 million (NOI Margin: 94.1%) and FFO of R$163.5
million (FFO Margin: 33.7%). Net Profit was R$153.0 million (+34.6% over 2011)
with a 31.6% Net Margin. Net Profit per share closed 2012 at R$1.852.
As recent developments, in 2013, the sale of a 90% ownership interest at the
Jundiai II Logistic Park to institutional investor was concluded, as was the
Third Issue of Debentures, in the amount of R$150 million, which will be used
to fund the Company's working capital needs, namely on the 16 sites currently
For more information, visit the Company's Investor Relations website at
March 1, 2013
Time: 11:30 am (Brasilia)/09:30 am (EST)
Dial in: +1 (412) 317-6776
Investor Relations Information
Tel.: +55 (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 223 thousand
square meters (Gross leasable area) and another 364 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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