Sonae Sierra with profits of 96.3 million euros – Express

Sonae Sierra closed 2014 with profits of 96.3 million euros, against EUR 3.6 million in the previous year, announced on Thursday the company owns 46 shopping centers, with . a value of six billion market

Last year’s performance reflects the combined effect of a 9% decrease in the direct result, for 52.7 million euros – due to factors such as the exchange rate of the Real and strengthening the corporate structure of the company, in order to respond to the growth in new geographies – and the rise of 181% in the indirect result, which benefited from the recovery of European markets and improving operating performance of assets, among other factors, to reach 43.6 million euros.

With an internationalization strategy based on the development of own projects and the provision of services to third parties Sonae Sierra recorded an overall occupancy rate of 95.5% in its shopping centers and saw tenant sales of European portfolio grew 3.3% last year to a comparable basis.

In a statement, the company emphasizes the growth of 5.5% in sales of tenants in Portugal. In Italy, the increase was 4.5% and in Brazil reached 8.4%.

The president of Sonae Sierra, Fernando Guedes de Oliveira, the numbers obtained in 2014 “translate the quality of assets and the company’s management efficiency in a macroeconomic environment that, despite the clear recovery indicators also notes volatility signals in the retail real estate sector in Europe.”

Getting the economic recovery cycle
Looking ahead, the manager says it is ready to “make the most of the economic recovery cycle that starts checking with an active strategy of recycling capital and the search for new business opportunities with growth potential markets. “

In the area of ​​service delivery, Sonae Sierra joined China and Russia to its international portfolio and signed 41 new contracts between Europe, North Africa and Asia in 2014, totaling 22.6 million euros.

In Romania, snatched the construction of Parklake, representing an investment of 180 million euros and is due to open in 2016, and Morocco announced the construction of Zenata Mall in Casablanca, with a 100 million budget. In Spain, the company signed an agreement with McArthurGlen to develop a designer outlet in Malaga involving 115 million euros.

The NAV of the company (value of equity) in December 2014 was 1.1 billion euros, representing an increase of 11.4% compared to the calculated value in 2013.