São Carlos Announces its 1Q19 Results

São Paulo, Brazil - May 9, 2019 - São Carlos Empreendimentos e Participações S.A. (B3: SCAR3), announces today its first quarter of 2019 results.

To access the Earnings Release, click here.


  • Gross revenue from leases reached R$60.4 million in the quarter, up 0.2% - impacted by the absence of lease revenue from the Morumbi Park building, sold in March 2018. Considering the same asset base, revenue grew 8.2% over 1Q18

  • Operational profitability increased, with EBITDA and FFO margins of 77.4% and 26.7%, respectively. EBITDA reached R$44.1 million and FFO increased by 65.2%, reaching R$15.2 million in the quarter

  • Recurring net income totaled R$4.8 million in 1Q19, reversing the 1Q18 loss of R$0.8 million

  • NAV (net asset value) per share reached R$56.6, up 6.8% over 1Q18

  • Portfolio closed 1Q19 with physical and financial vacancy rates of 15.2% and 14.7%, respectively, flat over 1Q18

  • Acquisition of the São Paulo - Jardim das Perdizes Convenience Center for R$20.6 million, with financing of R$20.0 million

  • Financial discipline focused on creating value to shareholders, with debt prepayment amounting to R$23.4 million and shares repurchased amounting to R$2.6 million in the quarter

São Carlos is pleased to invite you to join its 1Q19 Results Conference Call:

May 10, 2019
10:00 (Brasília time)
09:00 (US EST)
Phone: +55 (11) 2188-0155
Code: São Carlos
Replay phone: +55 (11) 2188-0400
Replay Code: São Carlos
Webcast: click here

Participants are requested to connect ten minutes prior to the time set for the conference calls.

Slides and webcast: A slide presentation will be available for viewing and downloading in our website The conference call in Portuguese will be live broadcast over the Internet on the same website, remaining available after the event.

For additional information, contact the Investor Relations Office:

Investor Relations Department
Phone: +55 (11) 3048-5419

About São Carlos Empreendimentos
São Carlos Empreendimentos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Its goal is to maximize rental revenues and the real estate portfolio´s market value. Our business strategy includes investing in commercial properties, retrofitting our real estate and increasing rent, and disposing of already matured properties. We currently have a portfolio which includes mostly class A office buildings and retail stores, located in the States of São Paulo and Rio de Janeiro.

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