Sao Carlos Empreend E Participacoes SA (BSP:SCAR3)

Q4 2024 Sao Carlos Empreendimentos e Participacoes SA Earnings Call (English, Portuguese) Transcript

Mar 14, 2025 / 05:00 PM GMT

Release Date Price: R$18.01 (+0.06%)

Transcript

Key Points

Positve

Recurring EBITDA grew by 29% due to higher occupancy levels and increased cost efficiency.
New leases in the office segment totaled 38,000 square meters, reducing the consolidated vacancy rate by 9.4 percentage points.
The company distributed 200 million riyals in dividends over the past 12 months, with a dividend yield of 17%, one of the highest on the stock market.
Net debt decreased by 10%, and the cash position stood at 305 million riyals at the end of December.
The company achieved 100% occupancy in properties located in Prebatafogo, Rio de Janeiro, the best result in eight years.

Negative

The vacancy rate in the Best Center segment increased due to the exit of an important supermarket tenant.
Asset sales in the office segment were completed at a 12% discount to the NAV.
Despite the high volume of new leases, the Best Center segment was impacted by the judicial recovery of a major tenant.
The company is still working to turn FFO into positive territory.
The macroeconomic environment remains challenging, impacting the company's operations and strategy.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SCAR3.SA - Sao Carlos Empreendimentos e Participacoes SA
Q4 2024 Sao Carlos Empreendimentos e Participacoes SA Earnings Call (English, Portuguese)
Mar 14, 2025 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everyone.

Thank you for joining us today. It's a pleasure to be here with you to discuss San Carlo's results.

I will start with the key highlights of the year.

The year was marked by a strong improvement in our recurring EBITDA, which grew by 29% compared to the previous year as a result of higher occupancy levels in our assets and an increased cost efficient.

New lease in the office segment totaled 38,000 square meters in the year, leading to a 9.4% point reduction in the consolidated vacancy rate.

At best Invest Center segment, the highlight was the same store sales of our tenants, which grew by 9

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