- Net revenue totaled R$ 86.6 million in 4Q14, a 10.6% increase over 4Q13. In 2014, net revenue was R$ 318.7 million, a 15.6% increase over 2013.
- Total sales at the Company’s malls in 4Q14 totaled R$ 1.5 billion, a 15.3% increase over 4Q13. In 2014 sales totaled R$ 4.7 billion, representing a 16.5% growth over the prior year.
- Same-store sales (SSS) reported strong growth in the quarter, increasing 10.2% in 4Q14 compared to 4Q13 and full-year 2014 was up 7.8% compared to 2013.
- Same-store rent (SSR) growth 11.0% compared to 4Q13 and 10.2% in 2014.
Sonae Sierra Brasil S.A. (BM&FBovespa: SSBR3), a leading Brazilian shopping mall developer, owner and manager, announces its results for the fourth quarter of 2014 (4Q14) and for the full-year of 2014. Net revenue totaled R$ 86.6 million in 4Q14, a 10.6% increase over 4Q13. In 2014, net revenue was R$ 318.7 million, a 15.6% increase over 2013. Adjusted EBITDA was R$ 63.8 million in 4Q14, 10.4% above 4Q13. In 2014, Adjusted EBITDA totaled R$ 226.7 million, a 9.6% increase over 2013.
4Q14 was yet another solid quarter for Sonae Sierra Brasil. Boosted by a solid Christmas season and even stronger Black Friday in November, tenant sales in our malls increased by 15.3% to R$ 1.5 billion, while same-store sales increased by a hefty 10.2%.
Same-store sales (SSS) increased by 10.2% in 4Q14 compared to 4Q13, totaling R$ 1,333/sqm per month. Once again, this increase was led by Boulevard Londrina, Manauara and Campo Limpo shopping centers.
Sales were positively impacted by the ramp up process of our newest malls, namely Boulevard Londrina and Passeio das Águas. Among our mature portfolio we highlight Manauara, Franca and Campo Limpo, which posted strong double-digit sales growth influenced by tenant mix improvements.
Same-store rent (SSR) continued to post strong growth rates in 4Q14, growing by 11.0% compared to 4Q13. In 2014 SSR increased 10.2% over 2013.
Innovation and efficiency will be watchwords for our Company in 2015 and beyond. We are committed to improve operation of our malls, strengthen tenant mix and make the most out of the investments and human capital in our Company.
About the perspectives for 2015, Sonae Sierra Brasil continue optimistic. We are committed to improve operation of our centers, strengthen tenant mix and make the most out of the investments and human capital in our Company. Innovation and efficiency will be watchwords.
Betting in our internal growth potential, we will explore three refurbishment and expansion projects (in Parque D. Pedro, Franca and Uberlândia Shopping Centers) that will be key for the Company in the near future and we will continue to seek for new alternatives to expand our centers.