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Company Presentation
February 2015
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2.8 B 3.1 B3.6 B 4.2 B
5.1 B6.1 B
7.5 B8.5 B
9.7 B11.4 B
12.8 B
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
+12.1%+2.1 x
+4.6 x
2
Evolution of sales/m² per month ²
¹ Considering 100% of shopping center sales.
² Three shopping centers opened in 4Q12: JundiaíShopping, ParkShoppingCampoGrande and VillageMall
Multiplan’s shopping centers total sales ¹ (R$)
648/m²761/m² 813/m²
1,134/m²
858/m²
1,135/m² 1,039/m²
1,416/m²
1,375/m² 1,467/m²1,495/m²
1,979/m²
1,443/m²1,565/m² 1,519/m²
2,065/m²
Δ 112%
Δ 74%Δ 46%
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
Three malls opened in 4Q12
Portfolio excl. new malls
Delta ( Δ )
0.9 B 1.0 B1.2 B 1.4 B
1.7 B2.0 B
2.4 B2.8 B
3.2 B3.7 B
4.1 B
4Q04 4Q05 4Q06 4Q07 4Q08 4Q09 4Q10 4Q11 4Q12 4Q13 4Q14
+11.3%+2.0 x
+4.4 x
Preliminary Operational Data
Portfo l io resi l iency pu t to the test – again
Source: Multiplan
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Same Store and Same Area Sales growth (YoY)
Occupancy Rate Evolution
7.0%
10.3%
7.7%
10.0% 9.7% 9.5% 9.4%7.4%
8.8%
5.7%7.7% 8.0%
9.3%
12.0%
6.7%8.8%
6.6%9.4%
7.5% 8.3% 8.2% 8.1% 8.5% 6.8% 8.1% 5.8%8.4% 7.6% 8.3%
9.4%6.1%
7.9%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
8.9% 8.9%7.5%
9.0%
7.6% 8.4% 7.4% 7.9%
2011 2012 2013 2014
Same Area Sales Same Store Sales
Preliminary Operational Data
98.5% 98.4%
98.8% 99.0%
97.5%
97.6%
98.1%
98.6%
97.2%
97.8%
98.5%
98.1%
98.4%98.1%
98.1%
98.0%
96.0%
97.0%
98.0%
99.0%
100.0%
1Q 2Q 3Q 4Q
2014
2013
2012
2011
Cont inued m ix impro vement leading to record h igh occ upancy rate
Source: Multiplan
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R$10,277 /m²
R$16,693 /m²
Brazilian ShoppingCenters ¹
Multiplan
¹ Acording to Abrasce (Brazilian Shopping Center Association)
Source: Multiplan4
The Importance of Tenant Mix
Tracking tenant mix GLA segment distribution
The “Satelization” process 2014 Total Sales/GLA
Mix evolut ion is p art – and th e heart – of the business
Since its opening in 1982 MorumbiShoppingexperienced a 90% turnover of stores
Apparel38.1%
Home & Office9.1%
Miscellaneous20.4%
Food Court &Gourmet10.0%
Services22.4%
MorumbiShoppingsales growth:4Q14: +12.2%2014: +13.8%
45.6% 45.4%
43.9% 43.6%
54.4% 54.6%
56.1% 56.4%
2011 2012 2013 9M14
+62.4%
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The Energy Challenge
5
Increase in energy cost
Energy rationing
Power outage
Fixed price contracts signed
in the free market
Energy reduction policy,
alternative energy sources
and past experience (2001)
Emergency generators
Mitigation andadaptation measures
Potential risks
Source: Multiplan
Taking necessary measu res to m it igate the energy ris k
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Solar panel
Skylight
Glass walls
Water recycle/reuse systemSkylight
The Energy ChallengeMalls w ith m odern archi tecture – and more energy eff ic ient
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-
10.0 M
20.0 M
30.0 M
40.0 M
50.0 M
60.0 M
70.0 M
2007 2008 2009 2010 2011 2012 2013 2014 -
50
100
150
200
250
300
Traded Volume (15 day average) Multiplan Ibovespa
Stock Market Evolution
7Source: Multiplan and Bloomberg
2007:IPO
2009:Follow On
2013:Follow On
2015:IBOV entry
AverageDailyTradedVolumein BRL:
26.5 M2.5 M 6.6 M 11.1 M 8.9 M 17.3 M7.3 M 31.7 M
Cons istent l iquid i ty increases led to Ibovespa entry
+93% –13%
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Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
20 M
25 M
30 M
35 M
40 M
45 M
50 M
55 M
60 M
Multiplan - 3M ADTV (R$) Peer with highest traded volume - 3M ADTV (R$)
8
IBOVst
preview
-42%
Stock Market EvolutionClosing the l iqu id i ty gap
Source: Multiplan and Bloomberg
-5%
-150%
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Demand is Consistent for Quality Projects
9
Multiplan´s nineteenth shopping center;
48,000 m² of Gross Leasable Area (GLA);
Multiplan will hold an 80% interest in the shoppingcenter;
258 stores;
2,500 parking spots;
Modern mix that reflects the current needs.
Source: Multiplan
Cons truc t ion in Canoas starts after a suc cessfu l preleasing phase
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392
852
94.5% 99.1%
90.7%
97.4% 99.0%
1 9 7 9
1 9 8 0
1 9 8 1
1 9 8 2
1 9 8 3
1 9 8 4
1 9 8 5
1 9 8 6
1 9 8 7
1 9 8 8
1 9 8 9
1 9 9 0
1 9 9 1
1 9 9 2
1 9 9 3
1 9 9 4
1 9 9 5
1 9 9 6
1 9 9 7
1 9 9 8
1 9 9 9
2 0 0 0
2 0 0 1
2 0 0 2
2 0 0 3
2 0 0 4
2 0 0 5
2 0 0 6
2 0 0 7
2 0 0 8
2 0 0 9
2 0 1 0
2 0 1 1
2 0 1 2
2 0 1 3
2 0 1 4
A Seasoned Company w ith a Proven Track Record
101979 - 2014 total GLA evolution (’000 m2) 1985 - 2014 shopping center occupancy rate evolution
Number ofShoppingCenters:
5 81 18
IPO
5 10
Source: Multiplan
Historical Evolution
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Notes
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IR Contact
Armando d’Almeida Neto CFO and IRO
Hans MelchersInvestor Relations and Planning Director
Franco CarrionInvestor Relations Manager
Carolina WeilInvestor Relations Analyst
Ricardo GasparPlanning Manager
Tel.: +55 (21) 3031-5224Fax: +55 (21) 3031-5322
E-mail: [email protected]
http://www.multiplan.com.br/ri
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