ALLOS: FFO GROWS 17% IN 9M23 AND 300 BPS EBITDA MARGIN EXPANSION IN 3Q23

RIO DE JANEIRO, Nov. 13, 2023 /PRNewswire/ — ALLOS S.A. (B3: ALOS3), the most innovative experience, entertainment, services, lifestyle, and shopping platform in Latin America, announces its results for the third quarter of 2023 (3Q23).

3Q23 HIGHLIGHTS

R$1.3 billion in divestments. ALLOS announced total and partial divestments from six of its malls, totaling R$1.3 billion, with an average cap rate of 8.1%. The transactions reinforce the Company’s successful capital allocation strategy and commitment to creating value for shareholders.

Share Buyback Program. Parallel to the divestments, ALLOS announced a share buyback program of up to 5% of its capital, aiming to increase the return per share. As of October 31st, almost 6 million shares had been repurchased, nearly 1% of the Company’s capital.

Revenue grows 6.7%. Net revenue totaled R$641 million, a 6.7% growth YoY. Parking results stood out, expanding 17.7% YoY, as well as Media revenue, which was also a highlight, growing 17.2% YoY.

6.9% SSR. Rent performance came in strong, reaching 6.9% SSR. The result was driven by sales growth and the continuous capture of synergies.

EBITDA advances 11.2%, margin rises 300 bps. EBITDA increased 11.2% YoY, with a 300 bps margin expansion. The increase can be explained by improved operational performance and an 11.4% real-term decrease in SG&A.

Sales grow 6.2%. ALLOS consolidated R$9.4 billion in total sales, a growth of 6.2% YoY. The sales from new stores in the portfolio grew by 33.9% YoY, proving the effectiveness of enhancing mix quality.

280 leasing contracts signed in 3Q23, reaffirming exceptional leasing capacity.

FFO reaches the milestone of R$1.2 billion in the last 12 months. In its first year of combined operation, ALLOS maintains its focus on operational excellence and delivers relevant results. In 2023, the FFO expanded 16.9% versus 9M22, and the EBITDA cash conversion reached 94%.

For a full version of the 3Q23 Earnings Release, please refer to https://ri.allos.co/en

ALLOS will hold its conference call and webcast on November 14th at 02:00 p.m. BRT (in English). To access the call, dial +1 (412) 717-9627 / +55 11 3181-8565 / +55 11 4090-1621, code “ALLOS”. Webcast is available at https://ri.allos.co/en

For more information, contact: + 55 21 2176-7272 or ri@allos.co

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SOURCE ALLOS