Multiplan (BM & F Bovespa: MULT3) announces its results for the fourth quarter and full year 2014. The company's net profit rose 117.3% to R $ 124,2 million in 4T14, as a result of improved outcome operating mainly due to the growth (20.1%) of the combined net sales to fall 23.9% in shopping centers expenses. The company's net margin increased to 38.5% in 4T14 21.3% in 4Q13, up 1,724 basis points.
In 2014, net income had solid growth of 29.3% compared to the previous year, adding R$ 83,5 million to the bottom line of the company.
Gross revenues increased 20.5% in 4T14, reaching R$ 355,5 million. In 2014, gross revenue totaled R $ 1,245 billion, an increase of 15.9% over 2013.
As announced in the previous operating, shopping malls' sales were R$ 12,8 billion in 2014, 12.1% larger than in 2013. Multiplan shopping centers showed a strong increase in sales over the year. The result was achieved through sustainable sales growth in consolidated undertakings, shown by the 9.5% increase in sales of shopping centers with more than 30 years in operation and leveraged by the growth of 44.2% of shopping centers with less than five years which continue to increase their sales and provide strong result.
In the last five years, sales have more than doubled, from R$ 6,1 billion in 2009 to the present number: R$ 12,8 billion.
Same Area Sales (SAS) and Same Store Sales (SSS) growth higher than recorded in 4Q13 and 4Q12. SAS increased 8.8% in 4T14, compared to the 4Q13 and exceeded the SSS. The largest growth of SAS again reflects the positive change in the mix of stores. The Same Store Sales increased by 7.9% in 4T14 compared to the same period last year.
The occupancy rate at the end of 2014 was 99%, the highest since company´s IPO in 2007. The shopping centers in operation for more than five years recorded an average occupancy rate of 99.5% in 4T14.
Rental revenue grew 21.2% in 4T14 over 4Q13 to R $ 262,7 million. In 2014, rental revenue increased 18% to R$ 801,3 million.