Multiplan

News

30.10.2019

Multiplan's mall sales up 5.2% in 3Q19

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Multiplan released third quarter 2019's results yesterday. In the first nine months of 2019, the Company invested 87.6% more than in 2018, totaling R$ 570.2 million. In the third quarter, shopping center stores sales grew 5.2% over the same period of the previous year, rising to R$ 3.8 billion. Growth was driven by higher sales in 18 of the group's 19 projects. Net Operating Income (NOI), the indicator that represents the sum of its property revenues excluding the expenses necessary to operate them, totaled R$ 297.5 million in the third quarter, growing 7.9% over the same period of the previous year, reflecting solid increases in rental and parking revenues. EBITDA reached R$ 235.1 million, up 3.4% over the same period last year, benefited by the operating performance of the assets (NOI: +7.9%), partially offset by the accounting impact on the share-basedcompensation account, which increases the expenses line when its stock price rises. Excluding this effect in both...