Sonae Sierra Brasil owns and manages 10 shopping centers totaling 350,000 square meters of gross leasable area in Brazil. The company has a strong track record and is focused on a growth strategy through developing new shopping centers in underserved medium and large cities targeting Brazil's fast growing middle class. Sonae Sierra Brasil plans to almost double its owned gross leasable area to 513,000 square meters by 2013 through 3 greenfield developments and expansions of existing properties. This will increase the company's average ownership stake across its portfolio to approximately 70% upon completion of the planned projects.
16-05-2012 - Institutional Presentation May 2012sonaeri
Sonae Sierra Brasil owns and manages 11 shopping centers totaling 403,000 square meters of GLA in Brazil. It has a defined growth strategy focused on underserved medium and large cities targeting the expanding middle class customer base. The company's portfolio is concentrated in the state of Sao Paulo, Brazil's most dynamic region, and it is expanding into new regions through greenfield developments, with two malls recently opened and two under construction that will nearly double its owned GLA. Sonae Sierra Brasil benefits from engaged controlling shareholders with extensive expertise in the shopping center sector.
31-01-2012 -Institutional Presentation January 2012sonaeri
Sonae Sierra Brasil owns and manages 10 shopping centers totaling 357,000 square meters of GLA. The company has a defined growth strategy focused on developing new shopping centers in underserved medium and large cities targeting Brazil's growing middle class. Sonae Sierra Brasil will more than double its owned GLA to 391,000 square meters through 3 recently completed greenfield projects and expansions. The company benefits from the expertise and market recognition of its controlling shareholders Sonae Sierra and DDR Corp.
This presentation provides an overview of Sonae Sierra Brasil and the Brazilian retail market. Some key points:
- Sonae Sierra Brasil owns and operates 10 shopping centers totaling 353k sqm of space in Brazil. It focuses on developing shopping centers in low-served cities and middle-class areas.
- The company benefits from experienced shareholders Sonae Sierra SGPS and DDR Corp. It has a defined growth strategy of expanding existing centers and developing new greenfield projects.
- Brazil's macroeconomic outlook remains positive despite global turmoil, with projected GDP growth above 4% annually through 2015 and steady retail sales increases. Inflation and interest rates are expected to moderate over time.
- Son
05 05-2011 - Apresentação Institucional 2011 (Apenas em Inglês)sonaeri
Sonae Sierra Brasil is a leading developer, owner, and operator of shopping centers in Brazil. It has a fully integrated business model and owns and manages 10 shopping centers totaling 350,000 square meters of gross leasable area. Sonae Sierra Brasil has a strong track record of growth, with adjusted EBITDA growth of 42.1% and adjusted FFO growth of 60.2% from 2009 to 2010. The company has a strategic focus on developing dominant malls in underserved medium and large cities in Brazil to capture growth in the expanding middle class. Sonae Sierra Brasil is well positioned for continued growth with secured expansion and greenfield projects that will almost double its owned gross leasable area.
27-08-2012 - Institutional Presentation August 2012sonaeri
Sonae Sierra Brasil owns and manages 11 shopping centers totaling 403,000 square meters of gross leasable area. The company has a controlling ownership stake in most of its shopping centers, averaging 63% currently. Its growth strategy involves opening two new shopping centers under construction that will increase its owned gross leasable area to 389,000 square meters and raise its average ownership stake to 70%. Sonae Sierra Brasil focuses on developing high-quality, market dominant shopping centers in underserved medium and large cities across Brazil to capture growing middle class consumption.
This document provides tips for planning and producing live radio programs. It discusses the importance of production values, understanding the audience, over-preparing content, structuring breaks, speaking concisely, planning each element, being prepared, using signposts and cues, thinking creatively, promoting content ahead, and using different textures and colors in the audio. It also discusses the roles of producers in setting the framework and presenters in connecting with listeners. The document is intended to help radio professionals improve their live programming through planning, preparation, and audience awareness.
16-05-2012 - Institutional Presentation May 2012sonaeri
Sonae Sierra Brasil owns and manages 11 shopping centers totaling 403,000 square meters of GLA in Brazil. It has a defined growth strategy focused on underserved medium and large cities targeting the expanding middle class customer base. The company's portfolio is concentrated in the state of Sao Paulo, Brazil's most dynamic region, and it is expanding into new regions through greenfield developments, with two malls recently opened and two under construction that will nearly double its owned GLA. Sonae Sierra Brasil benefits from engaged controlling shareholders with extensive expertise in the shopping center sector.
31-01-2012 -Institutional Presentation January 2012sonaeri
Sonae Sierra Brasil owns and manages 10 shopping centers totaling 357,000 square meters of GLA. The company has a defined growth strategy focused on developing new shopping centers in underserved medium and large cities targeting Brazil's growing middle class. Sonae Sierra Brasil will more than double its owned GLA to 391,000 square meters through 3 recently completed greenfield projects and expansions. The company benefits from the expertise and market recognition of its controlling shareholders Sonae Sierra and DDR Corp.
This presentation provides an overview of Sonae Sierra Brasil and the Brazilian retail market. Some key points:
- Sonae Sierra Brasil owns and operates 10 shopping centers totaling 353k sqm of space in Brazil. It focuses on developing shopping centers in low-served cities and middle-class areas.
- The company benefits from experienced shareholders Sonae Sierra SGPS and DDR Corp. It has a defined growth strategy of expanding existing centers and developing new greenfield projects.
- Brazil's macroeconomic outlook remains positive despite global turmoil, with projected GDP growth above 4% annually through 2015 and steady retail sales increases. Inflation and interest rates are expected to moderate over time.
- Son
05 05-2011 - Apresentação Institucional 2011 (Apenas em Inglês)sonaeri
Sonae Sierra Brasil is a leading developer, owner, and operator of shopping centers in Brazil. It has a fully integrated business model and owns and manages 10 shopping centers totaling 350,000 square meters of gross leasable area. Sonae Sierra Brasil has a strong track record of growth, with adjusted EBITDA growth of 42.1% and adjusted FFO growth of 60.2% from 2009 to 2010. The company has a strategic focus on developing dominant malls in underserved medium and large cities in Brazil to capture growth in the expanding middle class. Sonae Sierra Brasil is well positioned for continued growth with secured expansion and greenfield projects that will almost double its owned gross leasable area.
27-08-2012 - Institutional Presentation August 2012sonaeri
Sonae Sierra Brasil owns and manages 11 shopping centers totaling 403,000 square meters of gross leasable area. The company has a controlling ownership stake in most of its shopping centers, averaging 63% currently. Its growth strategy involves opening two new shopping centers under construction that will increase its owned gross leasable area to 389,000 square meters and raise its average ownership stake to 70%. Sonae Sierra Brasil focuses on developing high-quality, market dominant shopping centers in underserved medium and large cities across Brazil to capture growing middle class consumption.
This document provides tips for planning and producing live radio programs. It discusses the importance of production values, understanding the audience, over-preparing content, structuring breaks, speaking concisely, planning each element, being prepared, using signposts and cues, thinking creatively, promoting content ahead, and using different textures and colors in the audio. It also discusses the roles of producers in setting the framework and presenters in connecting with listeners. The document is intended to help radio professionals improve their live programming through planning, preparation, and audience awareness.
Using telepractice, auditory-verbal therapy can be delivered to children who are deaf or hard of hearing and their families. Telepractice allows children to receive services from certified auditory-verbal therapists even when qualified providers are not available locally. During telepractice sessions, therapists use coaching strategies to teach parents how to facilitate their child's listening and spoken language development through everyday activities. Both parents and therapists must have skills in using technology effectively for telepractice. Challenges include ensuring a strong internet connection and helping families feel comfortable with the technology.
This document discusses foreign direct investment (FDI) in India, particularly in the retail sector. It provides an overview of the history of FDI policy in India and reviews economic literature on the impacts of FDI. While FDI can potentially bring benefits like capital, technology, and efficiency, studies have found mixed results on its actual impacts. Some studies have found FDI has negatively impacted growth in developing countries by crowding out local firms or draining capital through profit repatriation. Overall, the literature suggests FDI's effects depend on factors like the sector and whether a country achieves a minimum threshold of human capital. Studies on India have also found limited positive impacts of FDI on growth, exports, and productivity
La canción describe a los dinosaurios de manera divertida, señalando que eran grandes como árboles pero con cerebros pequeños como guisantes. Algunos comían plantas, otros carne, y tenían diferentes características como plumas, escamas, garras y colas. Vivieron en la Tierra durante 100 millones de años antes de extinguirse y convertirse en fósiles, gas y petróleo.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help enhance one's emotional well-being and mental clarity.
The document discusses a fibre optic distribution system for satellite signals from Global Invacom. It allows for:
1) A lossless distribution of satellite signals over long distances and to many outlets without degrading signal quality.
2) Distribution of both satellite bands and polarizations over a single cable.
3) An easy to install system due to smart connectors, and cable length is not critical to performance.
1. Everest Composites Pvt. Ltd. (ECPL) manufactures "Everlast" FRP and "Atlantic" SMC composite doors that are machine processed and provide uniform thickness.
2. The doors are described as "eco-friendly" and offer good quality and finish at a lower cost than plastic or teak wood doors. Everlast FRP doors come with a 10 year warranty while Atlantic SMC doors have a 25 year warranty.
3. ECPL establishes that composite doors provide benefits over traditional wood or plastic doors such as being maintenance free, termite proof, waterproof, and fire resistant while offering an aesthetically pleasing design.
This document contains information about upcoming family and community events on an Army base, as well as safety information and guidelines related to winter weather and driving conditions. It lists various recreational and educational activities happening between October 18th and 31st, including a teen gaming tournament, movie nights, a reading event, and Halloween parties. It also provides contact information for classes on winter driving, snow throwers, and other winter preparedness topics. Finally, it shares resources for checking road conditions, what to do if your vehicle gets stuck in snow, and what to do if stranded during winter weather.
This document contains images and information about various artworks and sculptures by Japanese-American artist Isamu Noguchi from 1944-1989, including "Even the Centipede" from 1952, "Mortality" from 1959-1962, and his "Plan for Peace Memorial in Hiroshima" from an unknown date. It also includes photos of Noguchi with singer Yamaguchi Yoshiko and potter Kitaoji Rosanjin from 1952-1957 in Kita Kamakura, Japan.
This document provides instructions for distributing iOS apps through the Apple App Store. It discusses obtaining a distribution certificate, creating a provisioning profile, building the app for distribution in Xcode, verifying a successful build, and uploading the app to iTunes Connect in the Member Center. Key steps include generating a distribution certificate, building the app for distribution, and uploading the build to iTunes Connect for App Store distribution and availability.
This presentation provides an overview of Sonae Sierra Brasil as of May 2011. It summarizes that Sonae Sierra Brasil is a leading developer and operator of shopping centers in Brazil, with a fully integrated business model and proven local track record. As of 2010, it owned and managed 10 shopping centers totaling 203,700 square meters of gross leasable area. The company has a strong growth strategy focused on developing new shopping centers in underserved medium and large cities across Brazil, with three greenfield projects and one expansion already secured that would nearly double its owned gross leasable area to 391,000 square meters by 2013. It leverages the expertise of its controlling shareholders Sonae Sierra SGPS and DDR to
This presentation provides background information about Sonae Sierra Brasil S.A. and its subsidiaries as of a particular date. It summarizes the company's fundamentals, including that it is one of the leading developers, owners, and operators of shopping centers in Brazil, with over 322,000 square meters of total space. It also notes the company benefits from experienced controlling shareholders Sonae Sierra SGPS and DDR Corp. The presentation outlines the company's portfolio, growth strategy, operational and financial indicators, and recent events. However, the presentation does not constitute an offer of securities and is strictly confidential information.
Using telepractice, auditory-verbal therapy can be delivered to children who are deaf or hard of hearing and their families. Telepractice allows children to receive services from certified auditory-verbal therapists even when qualified providers are not available locally. During telepractice sessions, therapists use coaching strategies to teach parents how to facilitate their child's listening and spoken language development through everyday activities. Both parents and therapists must have skills in using technology effectively for telepractice. Challenges include ensuring a strong internet connection and helping families feel comfortable with the technology.
This document discusses foreign direct investment (FDI) in India, particularly in the retail sector. It provides an overview of the history of FDI policy in India and reviews economic literature on the impacts of FDI. While FDI can potentially bring benefits like capital, technology, and efficiency, studies have found mixed results on its actual impacts. Some studies have found FDI has negatively impacted growth in developing countries by crowding out local firms or draining capital through profit repatriation. Overall, the literature suggests FDI's effects depend on factors like the sector and whether a country achieves a minimum threshold of human capital. Studies on India have also found limited positive impacts of FDI on growth, exports, and productivity
La canción describe a los dinosaurios de manera divertida, señalando que eran grandes como árboles pero con cerebros pequeños como guisantes. Algunos comían plantas, otros carne, y tenían diferentes características como plumas, escamas, garras y colas. Vivieron en la Tierra durante 100 millones de años antes de extinguirse y convertirse en fósiles, gas y petróleo.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help enhance one's emotional well-being and mental clarity.
The document discusses a fibre optic distribution system for satellite signals from Global Invacom. It allows for:
1) A lossless distribution of satellite signals over long distances and to many outlets without degrading signal quality.
2) Distribution of both satellite bands and polarizations over a single cable.
3) An easy to install system due to smart connectors, and cable length is not critical to performance.
1. Everest Composites Pvt. Ltd. (ECPL) manufactures "Everlast" FRP and "Atlantic" SMC composite doors that are machine processed and provide uniform thickness.
2. The doors are described as "eco-friendly" and offer good quality and finish at a lower cost than plastic or teak wood doors. Everlast FRP doors come with a 10 year warranty while Atlantic SMC doors have a 25 year warranty.
3. ECPL establishes that composite doors provide benefits over traditional wood or plastic doors such as being maintenance free, termite proof, waterproof, and fire resistant while offering an aesthetically pleasing design.
This document contains information about upcoming family and community events on an Army base, as well as safety information and guidelines related to winter weather and driving conditions. It lists various recreational and educational activities happening between October 18th and 31st, including a teen gaming tournament, movie nights, a reading event, and Halloween parties. It also provides contact information for classes on winter driving, snow throwers, and other winter preparedness topics. Finally, it shares resources for checking road conditions, what to do if your vehicle gets stuck in snow, and what to do if stranded during winter weather.
This document contains images and information about various artworks and sculptures by Japanese-American artist Isamu Noguchi from 1944-1989, including "Even the Centipede" from 1952, "Mortality" from 1959-1962, and his "Plan for Peace Memorial in Hiroshima" from an unknown date. It also includes photos of Noguchi with singer Yamaguchi Yoshiko and potter Kitaoji Rosanjin from 1952-1957 in Kita Kamakura, Japan.
This document provides instructions for distributing iOS apps through the Apple App Store. It discusses obtaining a distribution certificate, creating a provisioning profile, building the app for distribution in Xcode, verifying a successful build, and uploading the app to iTunes Connect in the Member Center. Key steps include generating a distribution certificate, building the app for distribution, and uploading the build to iTunes Connect for App Store distribution and availability.
This presentation provides an overview of Sonae Sierra Brasil as of May 2011. It summarizes that Sonae Sierra Brasil is a leading developer and operator of shopping centers in Brazil, with a fully integrated business model and proven local track record. As of 2010, it owned and managed 10 shopping centers totaling 203,700 square meters of gross leasable area. The company has a strong growth strategy focused on developing new shopping centers in underserved medium and large cities across Brazil, with three greenfield projects and one expansion already secured that would nearly double its owned gross leasable area to 391,000 square meters by 2013. It leverages the expertise of its controlling shareholders Sonae Sierra SGPS and DDR to
This presentation provides background information about Sonae Sierra Brasil S.A. and its subsidiaries as of a particular date. It summarizes the company's fundamentals, including that it is one of the leading developers, owners, and operators of shopping centers in Brazil, with over 322,000 square meters of total space. It also notes the company benefits from experienced controlling shareholders Sonae Sierra SGPS and DDR Corp. The presentation outlines the company's portfolio, growth strategy, operational and financial indicators, and recent events. However, the presentation does not constitute an offer of securities and is strictly confidential information.
CSFB 3rd Brazil Construction & Mortgage Field TripGafisa RI !
1) The document summarizes CSFB's 3rd field trip to Brazil to view Gafisa's residential construction projects in São Paulo, Rio de Janeiro, Porto Alegre, and Fortaleza.
2) It provides an overview of Gafisa, a leading Brazilian homebuilder, including its history, strategy of focusing on high-return opportunities, leadership, and world-class shareholders committed to good governance.
3) Gafisa's organizational structure and culture are aimed at professional management, developing leaders, industry knowledge, and a results-driven ownership culture to sustain growth.
W.W. Grainger, Inc. is North America's leading broad-line supplier of maintenance, repair and operating (MRO) products, with global operations. Grainger distributes over 1 million industrial products to millions of customers worldwide from over 3,500 manufacturers. Grainger aims to provide exceptional customer service through multiple channels and a variety of product-related services. Grainger also focuses on delivering value to shareholders through strong financial performance, consistent returns, and 40 consecutive years of dividend growth. Beyond serving customers and shareholders, Grainger emphasizes stewardship by supporting communities, team members, and suppliers.
Merrill lynch non deal road show, Europa, 17 à 19 de Maio de 2006Gafisa RI !
The document provides an overview of Merrill Lynch's roadshow activities in Europe from May 17-19, 2006. It discusses Merrill Lynch's first quarter 2006 launches in Rio de Janeiro and Sao Paulo, Brazil, including four residential projects. It also includes a standard "Safe-Harbor" statement regarding forward-looking projections and describes the agenda for the roadshow.
Colgate achieved record levels of growth and profitability in 2000. Unit volume grew 6% with gains in all divisions worldwide. New products delivered 38% of sales, fueling growth. Earnings per share increased 16% to a new record high. Colgate will continue pursuing growth through innovation, efficiency gains, and investing in markets and technologies.
The Timken Company maintained profitability in 1999 despite weaknesses in many markets. The company achieved its third highest sales ever and reduced inventory days for the third consecutive year. Looking ahead, Timken is transforming its organization into a more global business with new leadership and a broader product portfolio to fuel growth and take advantage of improving business conditions in 2000.
This document discusses outsourcing and offshoring trends in publishing. It defines outsourcing as delegating business processes to an external provider, and offshoring as relocating labor-intensive functions to lower cost regions. Key drivers for offshoring include lower costs and focus on core competencies. The document also outlines outsourcing and offshoring trends, critical success factors, processes that can be outsourced/offshored, challenges, and results from a publisher survey on experiences with offshore service providers.
The document is AGCO Corporation's 2007 Annual Report. It discusses AGCO achieving record sales and net income in 2007, with net sales increasing 25.6% to $6.8 billion. It focuses on the five factors driving AGCO's growth: strong brands, people, innovation, opportunities, and strategy. The report provides details on new product introductions, investments in research and development, and goals to increase market share in emerging markets.
Public meeting presentation with analysts and investorsGafisa RI !
The document provides an agenda and presentations for a public company meeting in December 2008, including presentations from the CEO and other directors on the company's history, strategy, product lines, launches, sales, and operating highlights for the year. It also discusses the current state of the housing market in Brazil and measures the company is taking in light of the global financial crisis.
BRMALLS is the largest shopping mall company in Brazil with a nationwide presence and targeting all income segments. It has 45 regional malls totaling 1.4 million square meters of GLA, making it the largest mall owner and operator in Brazil. The presentation outlines BRMALLS' strong growth through acquisitions, organic expansion of existing malls, and new developments. Financial highlights show rising revenues, occupancy rates, and returns through same store sales growth and rent increases above inflation. The company sees continued opportunities for consolidation in the fragmented Brazilian mall market.
1) TIM Brasil has accomplished a turnaround in the last two years, with fundamentals strengthened around its brand, customer base growth, drivers of growth, and financial performance.
2) Key achievements include market share growth, increased mobile internet usage, revenue growth combined with profitability gains, and improved network capacity.
3) Brand metrics like preference and top of mind awareness have increased significantly versus competitors, demonstrating the success of TIM's repositioning around quality, innovation, and convenience.
1st annual Brazil conference, Nova York, 15 e 16 de Maio de 2006Gafisa RI !
Gafisa reported strong growth in the first quarter of 2006, with launches increasing 129% and pre-sales growing 85% compared to the first quarter of 2005. Revenues grew 21% to R$440 million driven by higher pre-sales, while gross profit margin remained stable at 27%. EBITDA margin was also maintained at 19% despite one-time IPO expenses recognized in the quarter that affected net income, which declined to a 10% margin. Overall the results demonstrated the company's continued leadership in the Brazilian real estate market.
The Canadian Tire/Forzani Group transaction has the potential to significantly change the landscape of Canada’s retail industry. Comments from our Corporate Finance Group.
This presentation discusses the capital structure, market potential, and growth of CCDI, a Brazilian real estate development company. Key points include:
- CCDI had an IPO in January 2007 that raised R$522 million and today has a market capitalization of R$1.1 billion.
- The company has diversified its real estate portfolio across multiple regions and housing segments of Brazil.
- Favorable economic conditions like low interest rates and a growing middle class are increasing the market potential for real estate in Brazil. Government support for housing is also helping drive growth.
- Between 2003-2007, CCDI launched over 20 real estate projects with a 178% increase in launchings from 2006
This document is the annual report for Omnicom from 2001. It provides an overview of the company's financial performance for 2001 compared to previous years, as well as highlights from each of its major advertising agency networks - BBDO Worldwide, DDB Worldwide, and TBWA Worldwide. The report discusses how each agency network expanded its client roster and won various industry awards in 2001 despite challenges from economic slowdown. It also notes some leadership changes that occurred within the company.
This document is the annual report for Omnicom from 2001. It summarizes the company's financial performance for 2001 and compares it to previous years. Some key points:
- Revenue reached $6.89 billion in 2001, a record high, though growth slowed due to economic challenges including the recession and 9/11 attacks.
- Operating income was $968 million and net income was $503 million in 2001. Earnings per share were $2.75 excluding a one-time gain.
- The company achieved all of its financial goals for 2001 except improving operating margins, due to a slowdown in client spending in many industries.
- Omnicom won a record $4.
Gafisa had a strong year in 2007, with several highlights:
1) It acquired AlphaVille Urbanismo, Brazil's largest urban developer, expanding its presence to 35 new cities.
2) It listed on the New York Stock Exchange, becoming the only Brazilian residential developer listed in the US.
3) It acquired 70% of Cipesa, allowing it to operate in the states of Alagoas and Sergipe.
4) It launched several new initiatives like Bairro Novo, Fit Residencial, and a new mortgage product.
1. O documento apresenta os indicadores operacionais e financeiros da Sonae Sierra Brasil, empresa de shopping centers, para o ano de 2014.
2. A empresa possui 10 shopping centers em operação com mais de 450 mil m2 de área locável total e crescimento consistente das vendas e receita nos últimos anos.
3. Os novos shopping centers representam uma parte significativa da área locável da empresa, mas ainda uma fatia menor da receita, com potencial de geração futura de valor.
- Sonae Sierra Brasil owns and manages 10 shopping centers in Brazil totaling 450,000 square meters of gross leasable area.
- The company has a controlling stake in most malls, averaging 78.6% ownership across the portfolio.
- In the fourth quarter of 2013, the shopping centers achieved tenant sales of R$1.3 billion, up 15.1% year-over-year, with an occupancy rate of 97.2%.
Este documento fornece um resumo da reunião pública da Sonae Sierra Brasil com analistas e investidores em 27 de novembro de 2013. Apresenta informações sobre o setor de shopping centers no Brasil, a Sonae Sierra Brasil, seus destaques financeiros e operacionais. Contém avisos legais sobre o caráter confidencial e prospectivo das informações fornecidas.
Este documento fornece um resumo da Sonae Sierra Brasil, uma das principais incorporadoras e operadoras de shopping centers no Brasil. A empresa detém 10 shopping centers próprios totalizando 450 mil m2 de ABL e administra 2 shoppings de terceiros. A Sonae Sierra Brasil tem uma participação média de 78,6% em seus shoppings próprios e controla totalmente a administração de 100% deles.
Sonae Sierra Brasil owns and manages 10 shopping centers totaling 450,000 square meters of GLA in Brazil. The company has a majority ownership in most of its properties and manages two additional third-party malls. Sonae Sierra Brasil will pursue growth through expanding its existing properties, pursuing greenfield development opportunities in underserved markets, and potential acquisitions. The company's growth strategy is focused on capturing increasing consumption from Brazil's expanding middle class.
Este documento fornece informações gerais sobre a Sonae Sierra Brasil S.A. e suas subsidiárias. Apresenta avisos legais sobre a natureza resumida e não completa das informações fornecidas, e sobre declarações prospectivas. Também contém um índice dos tópicos a serem discutidos.
Este documento fornece informações gerais sobre a Sonae Sierra Brasil S.A. e suas subsidiárias. Ele contém avisos legais sobre a natureza confidencial e preliminar das informações fornecidas, e alerta que declarações sobre perspectivas futuras estão sujeitas a riscos e incertezas. O documento não deve ser usado como base para decisões de investimento.
Sonae Sierra Brasil announces earnings for 2Q12, with net revenue up 22.7% to R$65.3 million and EBITDA up 22.3% to R$49.8 million. Same-store rent grew 13.1% and same-store sales grew 9.2%. The company has 11 shopping malls in operation with over 400,000 square meters of GLA and two new projects under development. Management remains optimistic about the Brazilian mall sector and Sonae Sierra Brasil's position within it.
27 08-2012 - apresentação institucional agosto 2012sonaeri
Este documento fornece um resumo da Sonae Sierra Brasil S.A., incluindo informações sobre sua estrutura acionária, portfólio de shopping centers, estratégia de crescimento e desempenho financeiro. O documento também contém avisos legais sobre declarações prospectivas e não deve ser considerado como uma recomendação de investimento.
Sonae Sierra Brasil announces its financial results for the fourth quarter and full year of 2010. Key highlights include:
- Net revenue increased 7.7% in Q4 2010 and 20% for the full year.
- Adjusted EBITDA increased 19.4% in Q4 2010 and 42.1% for the full year.
- Occupancy rates reached 98% in 2010 compared to 97.2% in 2009.
The company remains optimistic about its performance in 2011 despite a more modest outlook for the Brazilian economy. New developments and expansions are expected to contribute to continued growth.
31 12-2010 - divulgação de resultados 4 t10sonaeri
O documento relata os resultados financeiros da Sonae Sierra Brasil para o quarto trimestre e ano de 2010. A empresa teve crescimento de receita líquida de 7,7% no trimestre e 20% no ano. O EBITDA ajustado cresceu 19,4% no trimestre e 42,1% no ano. A margem EBITDA ajustada atingiu 76,4% em 2010. A empresa também iniciou a construção de dois novos shoppings em 2010.
Sonae Sierra Brasil, a leading Brazilian shopping mall developer and manager, announced its financial results for the first quarter of 2011. Net revenue increased 17.6% compared to the first quarter of 2010, reaching R$49.7 million. Adjusted EBITDA was R$38.0 million, an 18.3% increase over the first quarter of 2010. The company successfully completed its IPO in the first quarter, raising R$465.0 million. Same-store rent and sales increased by double digits compared to the first quarter of 2010.
31 03-2011 - divulgação de resultados 1 t11sonaeri
O documento relata os resultados financeiros da Sonae Sierra Brasil no primeiro trimestre de 2011. A empresa obteve um EBITDA ajustado de R$38 milhões, um aumento de 18,3% em relação ao mesmo período do ano anterior. A receita líquida aumentou 17,6% e o lucro líquido atribuível aos acionistas atingiu R$62,6 milhões no trimestre. A administração da empresa se mostra confiante com o desempenho operacional e financeiro.
- Sonae Sierra Brasil, a leading Brazilian shopping mall developer and manager, reported financial results for 2Q11.
- Net revenue increased 17.2% to R$53.2 million in 2Q11 compared to 2Q10, while adjusted EBITDA grew 17.6% to R$40.7 million.
- Same-store rent and sales increased by double digits of 12.7% and 9.8%, respectively, in 2Q11 compared to the previous year.
30 06-2011 - divulgação de resultados 2 t11sonaeri
A Sonae Sierra Brasil anuncia um aumento de 17,6% no EBITDA ajustado para R$40,7 milhões no 2T11 em comparação ao 2T10. As vendas nas mesmas lojas aumentaram 9,8% e o aluguel nas mesmas lojas cresceu 12,7% no 2T11. A companhia continua confiante em sua estratégia de crescimento focada no desenvolvimento de shopping centers para a classe média.
Sonae Sierra Brasil, a leading Brazilian shopping mall developer and manager, announced financial results for 3Q11. Net revenue increased 21.2% to R$54.8 million compared to 3Q10. Adjusted EBITDA increased 22.9% to R$41.1 million and the adjusted EBITDA margin reached 75.1%. Same-store rent grew 13.0% and same-store sales increased 7.3%. Total net income attributable to shareholders was R$58.5 million, up 114.1% from 3Q10. The company also began construction of a new shopping mall in Goiânia and recently opened an expansion of an existing mall.
30 09-2011 - divulgação de resultados 3 t11sonaeri
A Sonae Sierra Brasil anuncia um aumento de 22,9% no EBITDA ajustado para R$41,1 milhões no 3T11 em comparação ao mesmo período do ano anterior. A receita líquida aumentou 21,2% para R$54,8 milhões no 3T11, impulsionada por fortes crescimentos no aluguel e vendas nas mesmas lojas. O lucro líquido atribuível aos acionistas aumentou 114,1% para R$58,5 milhões no 3T11.
Sonae Sierra Brasil announced its financial results for the fourth quarter and full year of 2011. In Q4 2011, net revenue increased 18% year-over-year to R$61.5 million and EBITDA grew 22% to R$49.1 million. For the full year, net revenue rose 18.5% to R$219.2 million while EBITDA increased 22.3% to R$168.4 million. Same-store rent and sales growth remained strong for both the quarter and year, increasing in the high single to low double-digit range. The company will continue its growth strategy through development projects and pursuing acquisition opportunities.
31 12-2011 - divulgação de resultados 4 t11sonaeri
Este documento resume os resultados financeiros da Sonae Sierra Brasil no quarto trimestre e ano de 2011. A receita líquida aumentou 18% no trimestre e 18,5% no ano. O EBITDA cresceu 22% no trimestre e 22,3% no ano. O lucro líquido atribuível aos acionistas aumentou 66% em 2011.
Sonae Sierra Brasil, a leading Brazilian shopping mall developer, owner and manager, announced its results for the first quarter of 2012. Net revenue increased 13.9% to R$56.6 million compared to 1Q11. Adjusted EBITDA grew 10.4% to R$41.9 million and adjusted FFO was R$34.6 million. Same-store rent and sales increased 12.1% and 9.8% respectively. The company opened its 11th shopping mall, Uberlândia Shopping, and obtained the controlling interest in Shopping Plaza Sul.
2. Disclaimer
► The material that follows is a presentation of general background information about Sonae Sierra Brasil S.A. and its subsidiaries
(the “Company”) as of the date of the presentation. It is information in summary form and does not purport to be complete. It is not
intended to be relied upon as advice to potential investors and does not form the basis for an informed investment decision. This
presentation is strictly confidential and may not be disclosed to any other person. No representation or warranty, express or
implied, is made concerning, and no reliance should be placed on, the accuracy, fairness or completeness of the information
presented herein.
► This presentation may contain statements that are forward-looking within the meaning of Section 27A of the U.S. Securities Act of
1933, as amended (the “Securities Act”) and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking
statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-
looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the operations
and business environments of the Company and its subsidiaries that may cause the actual results of the Company to be materially
different from any future results expressed or implied in such forward-looking statements. No person has any responsibility to
update any such information.
► This presentation does not constitute an offer, or invitation, or solicitation or an offer, to subscribe for or purchase any securities.
Neither this presentation nor anything contained herein shall form the basis of any contract or commitment.
2
3. Index
4 Company Fundamentals
9 Sector Fundamentals
13 Growth Strategy
19 Operational and Financial Indicators
Parque D. Pedro Shopping „s Food Court (Campinas)
3
4. Sonae Sierra Brasil at a glance
One of the leading developers, owners and operators of top quality and regionally dominant
shopping centers in Brazil
Announced GLA growth (2010 – 2013)(1)
► 10 shopping centers owned and managed (350k sqm total GLA)
(„000 sq. m)(2)
Operating ► Occupancy rate of 97.5%
Expansion / Greenfield
Expertise Owned GLA Growth (%)
► Solid margins (EBITDA = 76.5% and FFO = 83.5%)
► Greenfield Expertise (62.4% of GLA)
188 +92.1%
► Leverage on the expertise, tenant relationships and market
recognition of our shareholders: Sonae Sierra SGPS and DDR
161 +60.5%
Shareholders: Corp (NYSE: DDR)
solid base ► Best-in-class controlling shareholders with significant experience in
the sector
156 +42.0%
► 30.4% free float
► Defined Growth strategy: focus on low served cities‟ middle class 115 +41.9%
► Largest secured growth in the sector: 3 greenfields, 1 expansion
Secured
recently concluded and 2 expansions at advanced stage, almost
Growth
doubling our owned GLA 115 +17.1%
► 3 other expansions already defined
Note: (1) As of June 30, 2011
(2) Referres to shopping center‟s GLA only.
.
4
5. Ownership Structure
Sonae Sierra Brasil benefits from best-in-class corporate governance and globally recognized
sector expertise, arising from a solid and engaged controlling shareholders
Post-IPO Ownership Breakdown Controlling Shareholders
Sierra Brazil 1 BV
Free Float
30.42%
Sonae
DDR
111 50%
Sierra
SGPS
50% ► Over 45 years of history ► Over 21 years of history
Enplanta Sierra Brazil 1 BV ► One of the largest
66.65%
► One of the largest developers
Shopping developers and operators of and operators of shopping
2.93%
shopping centers in US centers in Europe
► 12.4 mm sq m in total GLA
► Over 2.0 mm sq m in total
► NYSE listed, SOx Compliant GLA
► Equity value of US$3.5 ► 50/50 joint-venture between
billion(1) Sonae and Grosvenor
► NAV: €1.2 billion(1)
Note: (1) as of June 30, 2011
5
6. IPO Update
Since the IPO in February 2011, Sonae Sierra Brasil’s shares have had a solid performance
when compared to the Ibovespa
Stock Performance Since IPO versus Ibovespa
145
140
135 Performance – Feb 02 to September 09, 2011
130
SSBR3: + 29.0%
125
120 Ibovespa: - 16.4%
Stock Perform ance (base 100)
115
110
105
100 As a result of the
95
90
resources from the
85 IPO, SSB had a net
80
cash position of
75
70
R$159 million as of
June 30, 2011.
12-Aug
30-Aug
22-Aug
13-Apr
25-Apr
10-Feb
28-Feb
18-Feb
6-Jun
1-Jul
8-Sep
3-May
5-Apr
14-Jun
4-Aug
22-Jun
28-Mar
10-Mar
18-Mar
19-Jul
2-Feb
11-Jul
27-Jul
19-May
11-May
27-May
Ibovespa SSBR3
Broker Target Price (R$) Recommendation Last Update
Credit Suisse 31.501 Outperform 09/05/2011
Itaú BBA 33.802 Outperform 09/11/2011
JP Morgan 35.002 Overweight 06/10/2011
112 month period 212/31/2012
6
7. Investment thesis
► Attractive industry fundamentals
► Sound track record of developments and turnaround cases
► Strategy focused on dominant malls in underserved medium and large
Competitive edges
cities targeting to the fast growing middle class
► Experienced and committed management team
► Leverage on the know-how, strengths and long term commitment
of our sponsors
7
8. Index
4 Company Fundamentals
9 Sector Fundamentals
13 Growth Strategy
19 Operational and Financial Indicators
Manauara Shopping (Manaus)
8
10. Attractive shopping center industry
fundamentals
Despite recent growth, decreasing vacancy rates and low penetration vis-à-vis developed
markets indicate significant room for new shopping centers in Brazil
Shopping centers in Brazil
Shopping Malls 160 Shopping centers sales - CAGR (08-11): 16% 17.0%
140 15.4% 16.0%
15.0%
419 120 14.0% 14.0%
13.7%
381 14.0%
359 100
342 13.0%
80
109.1 12.0%
89.5
60 78.8 11.0%
70.1
40 10.0%
2008 2009 2010 2011e
2008 2009 2010 2011e Sales (R$ billion) % of Total Retail Sales
Source: IBOPE Source: IBOPE
Low shopping center market penetration Brazilian Shopping centers growth by region: 2014e
Total GLA (m²) / 1,000 inhabitants (2010)
Southeast 2010 Southeast 2014
205 +29% 265
2,180 South 2010 South 2014
1,290 73 +15% 84
Northeast 2010 Northeast 2014
Average: 49 55 +20% 66
Mid West 2010 Mid West 2014
143 37 +16% 43
81 91 42
53 34 31 34
North 2010 North 2014
USA Canada Mexico DF SP PR AM GO MG Other BR 11 +72% 19
states
Source: ABRASCE and IBGE. Source: IBOPE
10
11. Fast growing middle class
Around 39 million people have moved upwards into the middle class, while middle class
disposable income has increased by 99%
Increasing middle class Middle class: disposable income(1) (R$/month)
2005 2010 +99% 243
Population: 182 mm Population: 191 mm
122
Upper class
A+B 2005 2010
15% 21% Over R$ 12 billion increase in monthly disposable
+16 mm people income
Middle class
Total credit to individuals outstanding (R$ bn)
C 34%
6.8x
600
53%
+39 mm people 400
Lower class
D+E 200
51%
25% - 45 mm people
-
Jan-01 May-02 Sep-03 Jan-05 May-06 Sep-07 Jan-09 May-10
Source: Cetelem “O Observador 2011” Note: (1) Income available for spending and saving
Source: Cetelem “O Observador 2011”, IBGE and Itau Securities
Sonae Sierra Brazil is strategically positioned to capture the middle class consumption
growth, as it entails over 80% of its target audience
11
12. Index
4 Company Fundamentals
9 Sector Fundamentals
13 Growth Strategy
19 Operational and Financial Indicators
Shopping Penha (São Paulo)
12
13. Focus on dominant malls in underserved medium
and large cities, targeting middle class customers
Sonae Sierra Brasil has an established footprint in the State of São Paulo and its growth strategy
is based on offering high quality, market dominant developments in underserved regions
Core portfolio: 9 properties Development strategy: 1 opened and 3 greenfields
Total GLA: 343k sq m Total GLA 2013: 513k sq m
Owned GLA: 203k sq m Owned GLA 2013: 391k sq m
Owned GLA concentration
41.6%
Manaus 58.4%
São Paulo Other states
Core Portfolio of Assets
Manauara Shopping
► Manaus (AM)
► Population: 1,739k
# of competitors in area of influence ► GLA: 47k sq m Goiânia
► 99.7% leased
Parque D. Pedro 2
Uberlândia
Boavista 2
Penha 2 Londrina
Franca 1
Tivoli 1
Parque D. Pedro
Metrópole 2
► Campinas (SP)
► Population: 1,065k
Pátio Brasil 2
► GLA: 121k sq m # of cities with more than 300k
► Occupancy rate: 95.2% Greenfield inhabitants in Brazil
Plaza Sul 1
► Over 20 mm visits in 2010
Recently opened mall + 81
Campo Limpo 2
Shopping centers Shopping centers
Strong track record in Brazil’s most dynamic region Growth strategy focused on underserved regions
13
14. Controlling interests in most shopping centers
Sonae Sierra Brasil average ownership stake is 58% in its 10 operating properties. It will reach
70% when all three greenfield developments are completed
Percentage of the Company’s interest Rationale
GLA
Shopping Center City State Stake Management
(‘000 sqm)
Parque D. Pedro(1) Campinas SP 121,0 51.0%
Penha São Paulo SP 29,6 73.2% Strategic control of the malls
Metrópole São Bernardo SP 23,9 100.0%
Santa Bárbara
Tivoli
d‟Oeste
SP 22,1 30.0%
Pátio Brasil Brasília DF 28,8 10.4%
Ability to expand and
Boavista São Paulo SP 16,0 100.0% adapt to market trends
Franca Franca SP 18,1 67.4%
Plaza Sul São Paulo SP 23,0 30.0%
Campo Limpo São Paulo SP 19,9 20.0% Control the management
services of 100% of the
Manauara Manaus AM 46,8 100.0% malls
Weighted Average 58.2%
Uberlândia Uberlândia MG 43,6 100.0%
Londrina Londrina PR 47,8 84.5%
Goiânia Goiânia GO 78,1 100.0%
Weighted Average 70.3%
Note: (1) Sonae Sierra and DDR hold an additional 25.9% indirect ownership in Parque D. Pedro through another structure.
14
15. Greenfield Projects
Sonae Sierra Brasil’s strategy is to develop greenfield projects which have the potential to
become the market dominant malls in their regions
Boulevard Londrina Shopping Passeio das
Uberlândia Shopping
Shopping Águas
City: Uberlândia Londrina Goiânia
State: Minas Gerais Paraná Goiás
Opening : 1Q12 2H12 2013
Status: Construction in progress Construction in progress Construction in progress
Total GLA (‘000 sq m): 43.6 47.8 78.1
Company’s stake: 100% 84.5% 100%
% of GLA already 88% 71% 24%
committed*:
* As of June 30, 2011
15
16. Expansions
Concluded
On-going expansions Future expansions
expansion
Parque D. Pedro Metrópole Campo Limpo Parque D. Pedro Metrópole Tivoli
(Expansion I) (Expansion I) (Expansion II) (Expansion II)
São Bernardo São Bernardo Sta. Bárbara
Location Campinas (SP) São Paulo (SP) Campinas (SP)
(SP) (SP) D‟Oeste (SP)
Sonae Sierra
51% 100% 20% 51% 100% 30%
Brasil Stake
Additional
5.0 9.0 3.0 5.0 12.0 7.0
Total GLA (‘000 sq m)
Construction
1H2010 1H2010 1H2011 2H2012 2H2012 2H2012
Start Date
Expected
November 2010 Nov 2011 Sep 2011 2013 2013 2013
Opening
% of GLA 100% 99% 90% n.a. n.a. n.a.
already committed*:
* As of June 30, 2011
16
17. Secured Growth
Sonae Sierra Brasil has a solid pipeline of new developments and expansions underway that
will almost double the Company’s GLA within 3 years
Owned GLA growth (000 sq m)
Goiânia
Expansion Greenfields
Londrina
Uberlândia
78
16
Metrópole (II)
84
Tívoli
10
PDP (II)
391
Metrópole (I)
Campo Limpo
203 +92%
2010 2011 2012 2013 Total
17
18. Index
4 Company Fundamentals
9 Sector Fundamentals
13 Growth Strategy
19 Operational and Financial Indicators
Shopping Campo Limpo (São Paulo)
18
22. Net Cash Position and Modest Leverage
Net Cash Position (R$ million) Debt Profile
TR Fixed
42% 42%
CDI
16%
Debt Amortization Schedule (R$ million)
159.9
20.9
39.6 39.6 39.2
Up to 2012 2013 2014 2015 2016 onwards
Data on June 30th, 2011
22
23. Appendix: Sector Multiples
SSBR3 is trading at a discount against its peers in the Brazilian shopping malls sector.
2011 P/FFO (x)
P/FFO EV/EBITDA
2011 EV/EBITDA (x)
Peers Avg: 18.3x
31.2% discount to Peers Avg
Peers Avg: 18.3x
22.1% discount to Peers Avg
21.4x
23.9x
16.6x 17.2x 17.9x
18.4x 16.9x
14.3x 14.1x 12.6x
SSBR3 ALSC3 MULT3 BRML3 IGTA3 SSBR3 ALSC3 MULT3 BRML3 IGTA3
2012 P/FFO (x)
P/FFO EV/EBITDA
2012 EV/EBITDA (x)
Peers Avg: 15.4x
Peers Avg: 15.5x 39.0% discount
23.7% discount to Peers Avg to Peers Avg
17.0x 17.3x 15.6x 15.8x 15.8x
14.5x
14.1x 13.7x
11.9x
9.4x
SSBR3 ALSC3 MULT3 BRML3 IGTA3 SSBR3 ALSC3 MULT3 BRML3 IGTA3
Source: Bloomberg
23
24. Appendix: Sector Operating Performance
Adjusted EBITDA Margin
Source: Companies Earnings Results 2Q10 2Q11
1H10 1H11
82% 80% 83%
80%
76% 77% 74% 76% 77%
72% 72% 71% 70% 70%
69%
68% 66% 66% 65% 67% 70%
64%
57% 60%
SSB Multiplan BR Malls Iguatemi Aliansce General SSB Multiplan BR Malls Iguatemi Aliansce General
Adjusted FFO Margin
Source: Companies Earnings Results 2Q10 2Q11 1H10 1H11
84%
76% 77%
73%
70%
66% 65%
62% 64% 62% 61% 63%
61% 61%
58% 57% 58%
51%
43% 42%
38%
32%
8% 8%
SSB Multiplan BR Malls Iguatemi Aliansce General SSB Multiplan BR Malls Iguatemi Aliansce General
SSB’s FFO margin is the highest of the Brazilian shopping mall sector, reaching 84% in 2Q11 and 77% in 1H11. Also, SSB’s
EBITDA margin is among the highest of the sector, just behind of BR Malls, which benefits from its size.
Note: SSB considers 100% of the Parque D. Pedro Shopping results.
24