Multiplan Empreendimentos Imobiliários S A : Annual Report 2020
09/16/2021 | 05:52pm EDT
This document may contain prospective statements, which are subject to risks and uncertainties as they are based on expectations of the Company's management and on available information. The Company is under no obligation to update these statements. The words "anticipate", "wish", "expect", "foresee", "intend", "plan", "predict", "forecast", "aim" and similar words are intended to identify these statements.
The Company clarifies that it does not disclose projections and/or estimates under the terms of article 20 of CVM Instruction 480/09 and, therefore, such forward-looking statements do not represent any guidance or promise of future performance. Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market share and competitive position may differ substantially from those expressed or suggested by these forward looking statements. Many factors and values that may impact these results are beyond the company's ability to control. The reader/investor should not make a decision to invest in Multiplan shares based exclusively on the data disclosed on this presentation.
This document also contains information on future projects which could differ materially due to market conditions, changes in laws or government policies, changes in operational conditions and costs, changes in project schedules, operating performance, demands by tenants and consumers, commercial negotiations or other technical and economic factors. These projects may be altered in part or totally by the company with no prior warning.
External auditors have not reviewed non-accounting information. In this presentation the company has chosen to present the consolidated data from a managerial perspective, in line with the accounting practices excluding the CPC 19 (R2), and adjusting for the sale of the Diamond Tower, as described on page 3 of this report. For more detailed information, please check our Financial Statements, Reference Form (Formulário de Referência) and other relevant information on our investor relations ir.multiplan.com.br.
It has come to the attention of the Company that foreign banks have launched or intend to launch unsponsored depositary receipt programs, in the USA or in other countries, based on shares of the Company (the "Unsponsored Programs"), taking advantage of the fact that the Company's reports are usually published in English.
The Company, however, (i) is not involved in the Unsponsored Programs, (ii) ignores the terms and conditions of the Unsponsored Programs, (iii) has no relationship with potential investors in connection with the Unsponsored Programs,
has not consented to the Unsponsored Programs in any way and assumes no responsibility in connection therewith. Moreover, the Company alerts that its financial statements are translated and also published in English solely in order to comply with Brazilian regulations, notably the requirement contained in item 6.2 of the Level 2 Corporate Governance Listing Rules of B3 S.A. - Brasil, Bolsa, Balcão, which is the market listing segment where the shares of the Company are listed and traded. Although published in English, the Company's financial statements are prepared in accordance with Brazilian legislation, following Brazilian Generally Accepted Accounting Principles (BR GAAP), which may differ to the generally accepted accounting principles adopted in other countries.
Finally, the Company draws the attention of potential investors to article 51 of its bylaws, which expressly provides, in summary, that any dispute or controversy which may arise amongst the Company, its shareholders, board members, officers and members of the Fiscal Council (Conselho Fiscal) related to matters contemplated in such provision must be submitted to arbitration before the Câmara de Arbitragem do Mercado, in Brazil. Therefore, in choosing to invest in any Unsponsored Program, the investor does so at its own risk and will also be subject to the provisions of article 51 of the Company's bylaws.
We present Multiplan's 2020 Annual Report, a year in which the Company faced the challenges posed by the COVID-19 pandemic and quickly adapted itself to the needs of
its customers and partners, reaffirming its key position in the routine of millions of visitors and its commitment to operational efficiency alongside with and approach based on sustainability
MESSAGE FROM THE PRESIDENT
With nearly 50 years of history, Multiplan has always understood the need to adapt to changes and, more importantly, to anticipate the desires and needs of its clients and partners. In 2020, we understood the importance of
It is by investing in efficiency and large assets that Multiplan has laid its successful trajectory.
JOSÉ ISAAC PERES
Chief Executive Officer
MESSAGE FROM THE PRESIDENT
HELPING FIGHT COVID-19
FINANCIAL HIGHLIGHTS AND RESULTS
quickly adapting to the challenges posed by the COVID-19 pandemic. And we also saw the relevance of the adaptations we had been carrying out over the past few years, using our malls as a benchmark in innovation to manage our mix of stores, in architecture and in our relationship with society.
Supported by the quality of our assets, we were able to achieve good financial results in 2020, with a gross revenue of almost R$ 2 billion, 36.6% higher than 2019, and R$ 964 million of net income. This result was partially due to the sale of the Diamond Tower, one of the towers of the Morumbi Corporate office complex, in São Paulo, for R$ 810 million, reflecting the value generated by our development strategy.
Our commitment to the responsible and safe reopening of our shopping centers was also decisive. To help us develop and implement effective safety protocols, Multiplan hired independent infectologists, who made a technical analysis of our necessities - in addition to following the protocol guidelines of the Brazilian Shopping Center Association - Associação Brasileira de Shopping Centers
(Abrasce), validated by the Sírio Libanês Hospital and by Rede Mater Dei Saúde. We used the same precautionary measures to prepare our offices to return to in-person working. The good results derived from the measures adopted were evidenced through surface tests carried out in high circulation areas of the malls managed by Multiplan, with all negative results for the COVID-19 virus.
The health of tenants and employees was protected through various means. In addition to campaigns encouraging safe behavior, in 2020, we donated 100,000 fabric masks and 25,000 COVID-19 rapid tests . In addition to health and safety actions, we supported our tenants in overcoming the difficulties brought by the shutdown of stores, with a reduction in rent and common charges by almost R$ 1 billion througout the year.
Besides taking care of our most immediate public, we have been engaged in actions to fight the pandemic and provide social assistance that extend to broad sectors of society. Through agreements with the government, we have made the infrastructure of our malls available to collaborate with the vaccination campaign against COVID-19 - resulting in over 120,000 doses applied at our malls until the publication
of this report. But we know that the impacts of the pandemic go far beyond the health issue, therefore, in 2021 we donated 150 tons of food, distributed in 10,000 food baskets, which benefited 40,000 people. Our malls joined the initiative through the Alimente o Bem [Feed the good] campaign, which collected 13 tons of food by July 2021 to help those most affected by the economic and social crisis brought about by the pandemic.
Multiplan also engaged in developing or reinforcing diversified relationship strategies with its stakeholders. We invested in the expansion of the Multi superapp, a tool that is more than just an online sales platform, it makes the lives of clients easier and allows the Company to get to know them better and strengthen the relationship between the Multiplan brand and our malls. An expansion of the platform occurred in parallel with other engagement strategies, such as the creation of a direct sales channel on WhatsApp, the drive-thru product pickup service, and the implementation of a customer service chatbot.
The ongoing commitment to operational efficiency and a sustainability-based approach is Multiplan's trademark. In 2020, our investments in solar energy stood out, with
the construction of a new photovoltaic plant. Just one year after the inauguration of our first set of photovoltaic plants, which fully supply VillageMall, we now supply our headquarters in Rio de Janeiro, also 100% ensured by solar energy. This investment provides benefits both in environmental terms, as it contributes to the responsible use of natural resources and prevents the release of carbon emissions into the atmosphere, and in financial terms, as it provides savings in energy costs.
Even with the adjustments we made at the beginning of the year, we continued to invest in our portfolio. We made progress in the construction of ParkJacarepaguá, our 20th shopping center, which will be inaugurated in 2021 in Rio de Janeiro. And we pre-launched Golden Lake, a private neighborhood with 250 thousand sq.m of private area in Porto Alegre.
By investing in efficiency and large assets, Multiplan has laid its successful trajectory. Aware of market opportunities and demands, we maintain space to expand and develop mixed use projects integrated into our shopping malls, which increases the synergy of our operations. Thus, we remain confident in our long-term strategy, maintaining our focus on the quality of our malls and growth opportunities.
MULTIPLAN'S PIONEERING STORY
ABOUT THE REPORT
GRI STANDARDS INDEX
SASB CONTENT INDEX
This is an excerpt of the original content. To continue reading it, access the original document here.
Multiplan Empreendimentos Imobiliários SA published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 21:51:09 UTC.