ALIANSCE SONAE: Occupancy over 95% and strong recovery in sales
RIO DE JANEIRO, Aug. 11, 2021 /PRNewswire/ -- Aliansce Sonae Shopping Centers S.A. (B3: ALSO3), one of the largest shopping mall owners and operators in Brazil, announces its results for the second quarter of 2021 (2Q21).
2Q21 Highlights
- 95,4% occupancy rate at the end of the quarter. The high demand for commercial spaces, strong recovery in sales, and omnichannel solutions for retailers contributed to the increase in occupancy rate compared to 1Q21.
- Sales close to the pre-pandemic level. Total portfolio sales reached 92% in both May and June, compared to 2019. The highlights were the malls in the Northern region, which posted growths of 13% and 15% in the last two months of 2Q21 vs. 2Q19, respectively.
- Strong operating cash generation. Aliansce Sonae closed 2Q21 with a cash balance of R$1.0 billion and Net Debt / EBTIDA of 1.8x. In the first half of the year, the Company achieved operating cash generation of R$192 million, demonstrating its resilience even in the most challenging periods.
- Recovery in both EBITDA and AFFO. In 2Q21, EBITDA reached R$126.6 million, and FFO was R$86.4 million, both recording a significant recovery in May and June, despite operating restrictions in April.
- Raising of R$415 million. In August, Aliansce Sonae completed the raising of R$415 million in simple debentures, with bullet amortization, maturity in 7 years, and IPCA + 4.6% yield. The debenture backed real estate receivables certificates ("CRI"). Additionally, the Company signed a swap contract to CDI + 1.2%. The new funding marks the continuity of the liability management strategy.
For a full version of 2Q21 Earnings Release, please, refer to https://ri.alianscesonae.com.br/en
Aliansce Sonae will hold its conference call and webcast on August 12th, at 10:00 a.m. US ET (in portuguese) / 11:00 a.m. US ET (in english). To access the call, dial +1 (412) 717-9627 / +55 11 3181-8565 / +55 11 4210-1803, code "Aliansce Sonae". Webcast is available at https://ri.alianscesonae.com.br/en
For more information, please, contact Daniella Guanabara, IRO, at + 55 21 2176-7272 or [email protected]
SOURCE Aliansce Sonae Shopping Centers
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