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São Carlos Announces its 4Q18 Results

São Paulo, Brazil - March 11, 2019 - São Carlos Empreendimentos e Participações S.A. (B3: SCAR3), announces today its fourth quarter of 2018 results.

To access the Earnings Release, click here.

MAIN HIGHLIGHTS

  • Gross revenue from leases reaches R$ 62.9 million in 4Q18, a 5.5% increase on a same-asset base. In 2018, gross revenue from leases totals R$ 242.5 million, a 3.7% increase on a same-asset base

  • EBITDA and FFO reaches R$ 168.4 million and R$ 44.0 million in 2018, with margins of 73.5% and 19.2% respectively

  • Reduction in net debt over EBITDA from 5.9x to 5.4x between Dec/17 and Dec/18

  • NAV (net asset value) per share reaches R$ 56.7, a 5.6% increase when compared to 2017

  • Intense commercial activity in 2018 with new leasing contracts totaling 30,000 sq.m. of GLA

  • Portfolio closes 2018 with physical and financial vacancy rates of 12.5%, down 0.6 p.p. and 0.4 p.p. on 2017, respectively, and below market averages

  • Sale of one plot of land adjacent to C.E. Tietê for R$42.0 million and acquisition of two floors at C.E. Visconde de Ouro Preto for R$ 12.5 million



São Carlos is pleased to invite you to join its 4Q18 Results Conference Call:

Portuguese
March 12, 2019
10:00 (Brasília time)
08:00 (US EST)
Phone: +55 (11) 3127-4971
Code: São Carlos
Replay phone: +55 (11) 3127-4999
Replay Code: 87157471
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 www.scsa.com.br/ir. 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
E-mail: ri@scsa.com.br
Website: www.scsa.com.br/ir

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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