Iguatemi | Earnings Release - 1Q21

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Iguatemi empresa de shopping centers s/a

1Q21 Earnings Release

São Paulo, May 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 1Q21 results.


  • Average capacity utilization of the portfolio reached 59.6% in 1Q21.
  • Total sales reached R$ 1.8 billion in 1Q21, 28.4% drop versus 1Q20.
  • Same-store sales (SSS) decreased 25.6% and same-area sales (SAS) decreased 28.4% in the quarter.
  • Same-store rents (SSR) dropped 4.2% and same-area rents (SAR) dropped 12.8% in the quarter.
  • Net revenue reached R$ 169.4 million in 1Q21, 8.0% above 1Q20.
  • EBITDA reached R$ 101.4 million in the quarter, a 1.4% drop versus 1Q20, with EBITDA margin of 59.9%.
  • Net income was R$ 39.8 million in 1Q21, 219.9% above 1Q20.
  • FFO reached R$ 76.9 million in 1Q21, 55.7% above 1Q20.
  • Leverage ended the quarter at 3.26x Net Debt/EBITDA (0.06 below 4Q20 and 0.79 above 1Q20).
  • Iguatemi elected by GPTW as the 15th best company to work in the retail sector in Brazil.

Subsequent events:

  • Dividend distribution of R$ 50 million approved in the AGM. Amount to be paid in two installments.
  • Resuming of all mall operations in the State of São Paulo for 8 hours starting on April 18. 100% of the Company's operations opened as of this date.
  • Infracommerce concluded its IPO with a primary offer of approximately R$ 1.0 billion, resulting in a valuation of R$ 4.0 billion (post-money). On this date, Iguatemi indirectly holds a stake of approximately 10% of the company's share capital.

Click here to access the Earnings Release.

Conference Call in English

Conference Call in Portuguese

Date: May 5, 2021
Time: 10 am EST / 2 pm UK / 11 am BRT
Phone: +1 646 843 6054
Code: Iguatemi
Webcast: click here
Date: May 5, 2021
Time: 9 am EST / 1 pm UK / 10 am BRT
Phone: +55 11 2188 0155
Code: Iguatemi
Webcast: click here

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.


IR Contact
E-mail: [email protected]
Phone: +55 (11) 3137-7037 | 7134