SAO PAULO, Nov. 8, 2011 /PRNewswire/ -- Sao Carlos Empreendimentos e Participacoes S.A. (BM&FBovespa: SCAR3) announces today its results for the third quarter of 2011.
- NET INCOME increased 20% in 3Q11 vs. 3Q10, reaching R$19 million;
- PORTFOLIO'S MARKET VALUE reaches R$ 2.83 billion (up 38% vs. Sep/10 and up 26% on a same-property basis);
- NET ASSET VALUE of R$ 41/share (up 35% vs. Sep/10);
- GROSS REVENUE FROM LEASES increased 34% vs. 3Q10 and totaled R$58 million in 3Q11. On a same-property basis, the increase was approximately 22%;
- RECURRING GROSS REVENUE WAS ESTIMATED AT R$243 MILLION PER YEAR;
- EBITDA MARGIN OF 84% AND FFO MARGIN OF 47% IN 3Q11. If we exclude provisions for bonus payments, the 3Q11 EBITDA margin would come to 87%;
- PORTFOLIO'S VACANCY RATE: 1.0% of total own leasable area at September 2011 end;
- CASH BALANCE OF R$317 MILLION AT SEPTEMBER 2011 END, allied with good leverage capacity.
To download the "3Q11 Earnings Release", please access our website: www.scsa.com.br/ir and to listen to our conference call on the 3Q11 results use the information below:
ENGLISH (NOVEMBER 9, 2011, WEDNESDAY)
9:00 A.M. (NEW YORK TIME)
12:00 P.M. (BRASILIA TIME)
TEL: +1 (516) 300-1066
CODE: SAO CARLOS
Investor Relations Department
Phone: (55 11) 3048-5413
E-mail: dri@scsa.com.br
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 mainly office buildings and retail stores located in the States of Sao Paulo and Rio de Janeiro.
SOURCE Sao Carlos Empreendimentos e Participacoes S.A.
