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Key Indicators

Financial Highlights (million R$, unless otherwise indicated) 4Q17 4Q18 Var.
Lease Revenue 39.6 41.0 3.5%
Net Income 342.7 37.8 (89.0%)
Net Income per share (R$ / share) 17.83 1.96 (89.0%)
Net Income (ex-fair value adj.) 23.1 30.4 31.7%
Net Income (ex-fair value adj.) / share (R$ / share) 1.20 1.58 31.7%
FFO 24.7 23.3 (5.7%)
FFO / share (R$ / share) 1.28 1.21 (5.7%)
Adjusted FFO 24.7 23.3 (5.7%)
Adj. FFO / share (R$ / share) 1.28 1.21 (5.7%)
Total Distribution 25.7 20.2 (21.4%)
Total Distribution / share (R$ / share) 1.34 1.05 (21.4%)
Shareholders Equity 2,392.4 2,421.0 1.2%
Shareholders Equity / share (R$ / share) 124.45 125.93 1.2%
Gross Debt 456.6 426.3 (6.6%)
Net Debt 78.2 63.0 (19.5%)
Operational Highlights 4Q17 4Q18 Var.
Portfolio GLA (m2) 229,426 229,426 (0.0%)
Contracted leasing revenue (R$ million) 14.2 13.8 (2.9%)
Financial Vacancy (EoP) 29.5% 28.9% (0.6 p.p.)
Deliquency -3.4% 0.0% (1.0 p.p.)
Same-Area Rent (SAR) -1.7% 3.0% n.a.
Leasing Spread (16.1%) 0.7% n.a.
% of portfolio (in terms of lease revenue) 15.8% 0.0% n.a.
Stock Market Highlights 4Q17 4Q18 Var.
Total Number of Shares 19,224,537 19,224,537 0.0%
Market Cap 2,037.8 1,988.0 (2.4%)
Share Price – End of period (R$ / share) 106.00 103.41 (2.4%)
Share Price – Average for the period (R$ / share) 103.46 99.04 (4.3%)
Average Daily Trading Volume (R$ million) 6.59 2.64 (60.0%)
Number of Shareholders 28,302 41,538 46.8%
Total Individual Investors 28,164 41,331 46.8%
Total Institutional Investors 138 207 50.0%
% of shares held by Individual Investors 79.4% 79.6% 0.2 p.p.
% of shares held by Institutional Investors 20.6% 20.4% (0.2 p.p.)