Iguatemi Empresa De Shopping Centers S.A. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Full Year of 2018
For the six months, the company reported gross revenues of BRL 393,448,000 compared with BRL 389,341,000 for the same period a year ago. Net Revenue was BRL 343,481,000 compared with BRL 336,762,000 for the same period a year ago. Profit before fin. revs. (exp.) & taxes was BRL 203,950,000 compared with BRL 203,376,000 for the same period a year ago. Profit before taxes on profit was BRL 147,661,000 compared with BRL 116,511,000 for the same period a year ago. Profit in the period attributed to owners of parent company was BRL 116,942,000 compared with BRL 100,378,000 for the same period a year ago. Cash used by operations was BRL 288,037,000 compared with cash generated from BRL 71,708,000 for the same period a year ago. Net debt was BRL 1,543,579,000. EBITDA was BRL 258,293,000 compared with BRL 256,236,000 for the same period a year ago. FFO was BRL 173,014,000 compared with BRL 154,454,000 for the same period a year ago.
The company provided earnings guidance for the full year of 2018. For the year, the company expects net revenues growth to be in the range of 2% to 7% and EBITDA margin to be in the range of 75% to 79%. CapEx for the year at BRL 170 -220 million.