SAO PAULO, Nov. 13 /PRNewswire-FirstCall/ -- Sao Carlos Empreendimentos e Participacoes S.A. (Bovespa: SCAR3) announced today its results for the third quarter of 2009 (3Q09).
The 3Q09 and 9M09 Income Statements were adjusted as to exclude the following non recurring events: sale of Eldorado Business Tower investment; sale of three distribution centers; and provision for interest on equity payment.
-- Adjusted Net Revenue: R$ 32.8 mn in 3Q09 (-12.7% vs. 3Q08) and R$ 114.0 mn in 9M09 (+9.0% vs. 9M08)
-- Adjusted EBITDA: R$ 27.8 mn and margin of 84.6% in 3Q09 (-14.6% vs. 3Q08) and R$ 99.7 mn and margin of 87.5% in 9M09 (+14.4% vs. 9M08)
-- Adjusted Net Income: R$ 13.2 mn in 3Q09 (+51.9% vs. 3Q08) and R$ 47.1 mn in 9M09 (+115.5% vs. 9M08). 3Q09 and 9M09 Net Income without adjustments are R$ 68.0 mn and R$ 121.8 mn, respectively.
-- EPS: R$ 0.2285/share in 3Q09 (+51.9% vs. 3Q08) and R$ 0.8173/share in 9M09 (+115.5% vs. 9M08). 3Q09 and 9M09 EPS without adjustments are R$ 1.18/share and R$ 2.11/share, respectively.
-- FFO: R$ 18.6 mn and margin of 56.6% in 3Q09 (+25.9% vs. 3Q08) and R$ 63.8 mn and margin of 56.0% in 9M09 (+65.4% vs. 9M08)
-- FFO/share: R$ 0.3225/share in 3Q09 (+25.9% vs. 3Q08) and R$ 1.1075/share in 9M09 (+65.4% vs. 9M08)
To access the full "3Q09 Earnings Release", please access our website: http://www.scsa.com.br/ir. To listen to our conference call on the 3Q09 results use the information below:
English (Monday, November 16, 2009) 9:00 a.m. (EST) 12:00 p.m. (Brasilia time) Tel: +1 (973) 935-8893 Code: 36514650 Marc Grossmann Investor Relations Manager Phone: (55 11) 3048-5413 E-mail: dri@scsa.com.br About Sao Carlos
Sao Carlos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Our goal is to maximize rental revenues from the company's real estate, the assets' renting potential and the portfolio's market value. Our business strategy includes the investment in new commercial properties, reform and maintenance of our real estate, optimization of condominium administration and sale of properties that already attained maturation. We currently have a portfolio which includes office buildings, distribution centers and street stores, located mainly in the States of Sao Paulo and Rio de Janeiro.
Sao Carlos Empreendimentos e Participacoes S.A.
CONTACT: Marc Grossmann, Sao Carlos Investor Relations Manager,
+011-55-11-3048-5413, dri@scsa.com.br
Web site: http://www.scsa.com.br/ir
