Value of São Carlos' portfolio increases by 5% in 12 months

Recurring net income closes the year with a net margin of 39%

São Paulo, March 5, 2015 -São Carlos Empreendimentos, one of Brazil's leading commercial real estate investment and management companies, recorded 12-month growth of 5% in the market value of its portfolio, which reached R$4.6 billion. The Company has 85 commercial and convenience retail properties, totaling 399,000 sq.m of own gross leasable area (GLA), located in the cities of Rio de Janeiro and São Paulo. Thanks to the quality and premium locations of these assets, the Company achieved a physical vacancy rate of 9.9%, well below the market average (13.7% in Rio de Janeiro and 12.8% in São Paulo, according to the consulting firm CBRE).

The main recent highlights were the occupation of 41.4% of the total GLA of Tower A of the EZ Towers project, the leasing of 3,500 sq.m of the Passeio building in Rio de Janeiro and the acquisition of Souza Cruz's headquarters in Rio de Janeiro for R$75 million in December 2014.
The Company closed the year with high profitability indices. Recurring net income totaled R$103 million, with a net margin of 39%, 2% up on 2013. Recurring EBITDA and FFO came to R$227 million and R$129 million in 2014, with respective margins of 85% and 48%.
For the complete version of the earnings release, visit www.scsa.com.br/ri

Conference Call in English - March 6

11:00 a.m. (Brasília ET)
9:00 a.m. (Nova York ET) Tel.: +1 (412) 317-6776
Code: São Carlos

Media Relations: Grupo Máquina PR

Fernanda Doniani | (11) 3147-7448 |fernanda.doniani@grupomaquina.com
Mariana Uchôa | (11) 3147-7258 | mariana.uchoa@grupomaquina.com

distributed by