Q1 2025 Sao Carlos Empreendimentos e Participacoes SA Earnings Call (English, Portuguese) Transcript
Thank you for joining us today. It's a pleasure to be here with you to discuss Sao Carlos results. I'd like to begin with the main highlights of the quarter.
We started the year maintaining a solid operational progress. I'd like to highlight our recurring EBITDA which grew by 16.6% compared to the first quarter of the last year, even with 18 fewer assets in the portfolio. On a same asset basis, this growth was even higher at 26.9%, driven by improved occupancy levels in your assets and continued efforts to optimize expense.
New lease agreements reached 4,200 square meters in the Office segment and 3,000 square meters in Best Center, reflecting a resilient market despite the current high interest rate environment. In terms of capital allocation, asset sales for the year totaled BRL17 million with an average cap rate of 6.8%. We ended the quarter with a portfolio worth by BRL3.5 billion. Additionally, in January, we paid the BRL100 million in extraordinary dividends.
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