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    MULT3   BRMULTACNOR5

MULTIPLAN EMPREENDIMENTOS IMOBILIARIOS S.A.

(MULT3)
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Delayed Bolsa de Valores de Sao Paulo  -  05/27 09:14:19 am EDT
23.48 BRL   -0.21%
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Multiplan Empreendimentos Imobiliarios S A : announces 4Q21 operational preview

01/14/2022 EDT

Multiplan announced on the operational preview of its portfolio in 4Q21¹ on Wednesday, January 12. The operational indicators surpassed the record performances of 2019, the period that preceded the pandemic. For the first time in 2021, sales recorded by the malls exceeded 2019, totaling R$5.6 billion in 4Q21, 108.1% of 4Q19 and a new historical record for the Company. The 4Q21 period was the first in which the malls operated at 100% of their regular opening hours, although still facing capacity and event constraints.

Five shopping centers in Multiplan's portfolio posted double-digit sales growth in 4Q21 compared to 4Q19: Parque Shopping Maceió (+24.1%), VillageMall (+22.3%), ParkShoppingBarigüi (+17.0%), ParkShopping Canoas (+14.2%) and BH Shopping (+10.7%). On a year-over-year comparison, VillageMall, Parque Shopping Maceió and ParkShopping Canoas outperformed 2019 sales, achieving growth of 113.0%, 109.6% and 101.8%, respectively.

Christmas Sales

December was the highlight of the quarter, accounting for 110.1% of same-period sales in 2019. During Christmas week, between December 17 and 24, sales reached 116.7% of those reported in 2019, reaching approximately R$1 billion.

The malls in Rio de Janeiro and the Southern region of the country recorded 26.7% and 19.7% growth compared to 2019, respectively. In the week of Christmas, BarraShopping, located in Rio de Janeiro, exceeded 2019's sales by 16.4%. The three malls located in the Southern region of the country showed double-digit sales increases compared to 2019.

Same Store Sales (SSS) grew 10.3% compared to 4Q19 and indicated strong recovery in the Apparel, Food and Miscellaneous Goods segments, which showed growth of 19.0%, 12.5% and 11.0%, respectively. Throughout 2021, the Services and Food segments presented a significant recovery.

Same Store Rents (SSR) reached 41.4% in 4Q21 compared to 4Q19 and surpassed 3Q21 (28.4%), the two-year inflation measured by IPCA (15.0%) and equaling the effect of the IGP-DI adjustment for the same period (41.4%). The year 2021 ended with an SSR of 17.2% compared to 2019.

Dwell time

The dwell time in the malls in December outperformed the other months of the quarter and the same month in 2019, with 61% of vehicles staying for more than one hour in the parking lot. Vehicle flow in December reached 94.4% of 2019 levels, with MorumbiShopping a standout, reaching 104.9% of 2019's levels in the month.

In 4Q21, vehicle flow reached 88.7% of the 2019 levels, with 11.8 million vehicles.

Occupancy Rate

The occupancy rate rose to 95.3% with 14,000 m² of new stores leased in the quarter, up 8 b.p. compared to 3Q21. The increase in demand for space in Multiplan's malls was evidenced by the more than 14,000 sqm of GLA signed in the quarter, distributed among 133 stores.

In the quarter, ten malls reported occupancy rates equal to or above 97%. Of these, Pátio Savassi and ParkShoppingSãoCaetano were notable, with a quarterly growth of 281 b.p. and 153 b.p. in the occupancy rate, to 97.9% and 98.4%, respectively. By 2021, almost 63,000 m² of GLA was leased to new tenants, representing 7.9% of total GLA under management.

¹Note: All figures presented are preliminary and subject to change.

Disclaimer

Multiplan Empreendimentos Imobiliários SA published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 14:24:04 UTC.


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Financials
Sales 2022 1 761 M 368 M 368 M
Net income 2022 636 M 133 M 133 M
Net Debt 2022 2 205 M 461 M 461 M
P/E ratio 2022 23,0x
Yield 2022 2,34%
Capitalization 13 836 M 2 891 M 2 891 M
EV / Sales 2022 9,11x
EV / Sales 2023 7,69x
Nbr of Employees 80 333
Free-Float 66,9%
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José Isaac Peres Chief Executive Officer & Director
Armando d'Almeida Neto Chief Financial Officer
José Paulo Ferraz do Amaral Chairman
Eduardo Kaminitz Peres Vice Chairman & Chief Operating Officer
Vander Aloisio Giordano Vice President-Compliance & Institution