| São Paulo, March 4, 2021 - Iguatemi Empresa de Shopping Centers S.A. (“Iguatemi” or “Company”) [B3: IGTA3], one of the largest full-service companies in the shopping center industry in Brazil, announces its 3Q20 results.
4Q20 HIGHLIGHTS: - Average capacity utilization of the portfolio reached 61% in 2020 and 91% in the quarter
- Total sales reached R$ 8.7 billion in 2020, a 38.8% drop versus 2019, and R$ 3.6 billion in 4Q20, 14.4% drop in 4Q19
- Same-store sales (SSS) declined 28.1% and same-area sales (SAS) decreased 36.2% in 2020. In the quarter, SSS was -11.8% and SAS was -10.1%
- Same-store rents (SSR) declined 24.5% and same-area rents (SAR) decreased 28.5% in 2020. For the 4Q20, SSR was -3.3% and SAR was -10.1%
- Net revenue reached R$ 684.2 million in 2020, 9.3% below 2020, and R$ 184.4 million in 4Q20, 12.7% below 4Q19
- EBITDA reached R$ 514.28 million in the year and R$ 162.2 million in the quarter, a 19.1% and 19.0% drop, respectively. EBITDA margin reached 75.1% in 2020 and 88.0% in 4Q20.
- Net income was R$ 202.3 million in 2020 and R$ 82.0 million in the quarter, 35.6% and 26.7% drop, respectively
- FFO reached R$ 351.3 million in 2020, 20.6% below 2019, and R$ 120.2 million in 4Q20, 17.2% below 4Q19
- Leverage ended the year 1.28 above 2019 at 3.32x Net Debt/EBITDA
- The fractional sale of 1.5% of the Galleria Shopping land generated a net result of R$ 10.7 million in the 4Q20 results
- The fractional sale of 0.5% of the Iguatemi Esplanada land generated a net result of R$ 8.3 million in the 4Q20 results
- Issuance of R$ 500 million in Debentures: 1st Series of R$ 100 million with CDI +2.15% p.a., 5 year term and amortization at maturity; 2nd Series of R$ 400 million with CDI +2.45% p.a., 7 year term and amortization in 2 equal installments starting in 2026
Subsequent events: - Iguatemi elected by GPTW as the 15th best company to work in the retail sector in Brazil
Click here to access the Earnings Release. | Conference Call in English | Conference Call in Portuguese | Date: March 5, 2021 Time: 9 am EST / 2 pm UK / 11 am BRT Phone: +1 646 843 6054 Code: Iguatemi | Date: March 5, 2021 Time: 8 am EST / 1 pm UK / 10 am BRT Phone: +55 11 2188 0155 Code: Iguatemi | For additional information, please contact [email protected] or visit the company's IR website https://ri.iguatemi.com.br/. Slides and Webcast: A slide presentation will be available for viewing and downloading in our website. The Conference Call will be live broadcasted over the Internet, remaining available after the event. |
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