SAO PAULO, Nov. 13 /PRNewswire-FirstCall/ -- General Shopping Brasil S/A (BM&FBOVESPA: GSHP3), one of the largest shopping mall companies in Brazil, announces today its third quarter 2009 earnings.
Operating and financial highlights
- Gross revenue totaled R$ 28.4 million in 3Q09, up 27.3 % over 3Q08. In 9M09, gross revenue was R$ 79.7 million, up 25.5% over that in 9M08;
- Consolidated NOI in 3Q09 reached R$ 21.0 million, with margin at 81.7% and increase of 23.1% over R$ 17.1 million in 3Q08. In 9M09, NOI totaled R$ 57.7 million, with margin at 80.8%, up 18.6% over 9M08;
- Gross profit increased 30.8% in 3Q09, to R$ 18.7 million, while gross margin increased 3.1 percentage points, to 72.9%. In 9M09, gross profit totaled R$ 51.0 million, up 29.5% over 9M08. Gross margin increased 3.9 percentage points, from 67.5% to 71.4% in 9M09;
- Adjusted EBITDA in 3Q09 totaled R$ 18.6 million, with margin at 72.5%, up 25.2% over R$ 14.9 million in 3Q08. In 9M09, adjusted EBITDA was R$ 51.0 million, with margin at 71.4% and increase of 19.8% over 9M08.
For further details on GSB's 3Q09 earnings, click on the link below: http://release.firb.com/general_shopping/GSB_release_3Q09.pdf CONFERENCE CALLS ON THE 3Q09 EARNINGS November 16, 2009 IN ENGLISH 02:00 p.m (EST) Dial-in Phone Numbers Parties from Brazil 11 4688-6361 Toll-free from the U.S. 1-888-700-0802 Parties from other countries 1-786-924-6977 Webcast: http://prnewswire.mediatown.com.br/player/?id=140 IN PORTUGUESE 12:00 p.m. (EST) Dial-in Phone Number 55 11 4688-6361 Webcast: http://prnewswire.mediatown.com.br/player/?id=139
General Shopping Brasil S.A.
CONTACT: GSB Investor Relations, +011-55-11-3159-5100,
dri@generalshopping.com.br; or Daniela Ueda, of FIRB +011-55-11-3897-6857,
daniela.ueda@firb.com, for GSB
