Iguatemi Empresa de Shopping Centers S.A. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Earnings Guidance for the Full Year of 2017
For the six months, the company reported gross revenues of BRL 389,341,000 compared with BRL 369,372,000 for the same period a year ago. Net Revenue was BRL 336,762,000 compared with BRL 323,298,000 for the same period a year ago. Profit before fin. revs. (exp.) & taxes was BRL 203,376,000 compared with BRL 195,541,000 for the same period a year ago. Profit before taxes on profit was BRL 116,551,000 compared with BRL 90,769,000 for the same period a year ago. Profit in the period attributed to owners of parent company was BRL 100,378,000 compared with BRL 72,629,000 for the same period a year ago. Cash generated by operations was BRL 301,540,000 compared with BRL 142,046,000 for the same period a year ago. Net debt was BRL 1,656,462,000. EBITDA was BRL 256,236,000 compared with BRL 250,611,000 for the same period a year ago. FFO was BRL 154,454,000 compared with BRL 128,870,000 for the same period a year ago.
The company provided earnings guidance for the full year of 2017. 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 73% to 77%. The company expected to grow net income to 7% and currently at 4.2 margin is between BRL 73 million to BRL 77 million were at the top of the range at BRL 76 million. CapEx for the year at BRL 80 million to BRL 130 million.