The Rise of ALLOS
ALLOS S.A. (B3: ALOS3), the epitome of a versatile platform that encapsulates experience, entertainment, services, lifestyle, and shopping in the heartbeat of Latin America, has unveiled its stellar performance for the second quarter of 2024 (2Q24).
A Surge in FFO
The Financial Funds from Operations (FFO) witnessed a remarkable ascent, hitting a pinnacle of R$312.1 million in 2Q24, a surge of 33.4% from the previous year’s figure. FFO per share surged by an impressive 41.1%, fueled by the recent share buyback initiatives.
Capital Returns
Pouring back into the ecosystem, ALLOS showered R$1.1 billion in capital returns during the initial 7 months of the year, presenting dividends worth R$612 million and share buyback programs totaling R$455 million, exhibiting an approximate yield of 10%.
A Flourishing Sales Landscape
The sales sphere witnessed a growth spurt of 5.8%, with total sales hitting a staggering R$9.4 billion. Sales per square meter escalated to R$1,845/sqm, reflecting an 8.0% growth aided by strategic mix qualification endeavors and robust portfolio management.
Thriving Parking Results
Parking results continued to dazzle, marking a 14.2% year-over-year growth, with parking revenues climbing to R$113.3 million, even overcoming the seasonal Easter shift that contributed positively to the first quarter of 2024.
Media Maven
The media arm of ALLOS, Helloo, exhibited a remarkable stride, with media revenues surging to R$35 million in 2Q24, showcasing a whopping 25.1% growth compared to 2Q23, and accounting for 5.2% of the company’s total gross revenue.
Steady Rent Performance
Despite a deflationary backdrop, ALLOS maintained its rent performance steadfastly, with Same-Store Rent (SSR) escalating by 2.6% in 2Q24.
Embracing Change
Diving into the realm of divestments, ALLOS accumulated a sum exceeding R$1.8 billion until June 2024 from its divestment initiatives, culminating in a leverage ratio of 1.5x by the end of the quarter.
Commitment to Sustainability
In a bid to solidify its stance on sustainability and societal commitment, ALLOS has set forth public milestones for 2030 and 2040, aimed at fostering diverse and inclusive relationships and environments, unleashing the full potential of customers and employees, ensuring carbon neutrality, and optimizing the judicious use of natural resources.
SOURCE ALLOS S.A.
