SAO PAULO, March, 18, 2013
/PRNewswire/ -- Sao Carlos Empreendimentos (BM&FBovespa:
SCAR3), one of Brazil's leading
commercial real estate investment and management companies, posted
net income of R$221 million in 2012,
its highest ever annual figure and 129% more than in the previous
year, while adjusted EBITDA climbed by 21% to R$214 million.
Gross revenue from leases totaled R$275
million in 2012, 21% higher than in 2011, and R$70.8 million in 4Q12, an 11% year-on-year
improvement. "This growth primarily reflects real increases due to
renovations and leasing agreement revisions, as well as the
properties acquired in the period. It is also worth highlighting
the delivery of Centro Empresarial Regiao Portuaria building
retrofit", explained Sao Carlos' CEO, Felipe Goes.
The year-end cash balance stood at R$365
million, representing a buying power of around R$1.2 billion, assuming a 70% leverage ratio for
acquisition financing.
The Company added five new buildings to its portfolio in 2012,
one in Sao Paulo and four in
Rio de Janeiro, totaling
R$300 million, with an average
stabilized cap rate of 14.2%. Given the favorable sector cycle and
the liquidity offered by real estate investment funds throughout
the year, Sao Carlos undertook substantial sales of mature assets
totaling R$307 million: Centro
Administrativo Rio Negro, in Alphaville, for R$233 million, and seven retail street stores in
the state of Rio de Janeiro for
R$74 million.
To download the full version of our "4Q12 Earnings Release",
please access our website at www.scsa.com.br/ir
CONFERENCE CALL
English
(March 19, 2013,
Tuesday)
11:00 a.m.
(New York)
12:00 p.m. (Brasilia)
Phone: 1-412-317-6776
Code: Sao Carlos
About Sao Carlos
Sao Carlos is one of the leading companies in Brazil's commercial real estate investment and
management sector
CONTACT
William
Crispim – williamcrispim@rp1.com.br
Rodrigo Palomino – rodrigopalomino@rp1.com.br
Lucia Guimaraes –
luciaguimaraes@rp1.com.br
Marcia Glogowski –
marciaglogowski@rp1.com.br
RP1 Comunicacao
Phone:
+55-11-5501-4655
SOURCE Sao Carlos Empreendimentos e Participacoes S.A.