3T 23
RESULTS
4Q23
DISCLAIMER
4 Q 2 3
This Presentation includes forward-looking statements, which are based upon historical data and reflect expectations and objectives of the Management. Such statements involve risks and uncertainties and, therefore, are not guarantees of future
performance. | future results may differ substantially from the results presented herein due to various important factors, |
among others: general economic, political and business conditions in Brazil (especially in the areas in which Syn operates);
success in the implementation of the business strategies and investment plans; capacity in obtaining equipment/suppliers without interruption and at predictable prices; competition; risks associated to real estate development,
construction, leasing and sales; risk of non-achievement of results from holding company and subsidiaries; regulatory
risks; risk of non-development of an active and liquid market for Syn´s shares; and other current or imminent risks, either
already known or not, by | Management. | |
The information and statistical data related to the industry overview and market share of Syn, including market forecast, were | ||
obtained through internal investigations, market researches, available public information, publications of the industry, | ||
independent consults and governmental bodies and agencies. | ||
Syn is under no circumstances responsible for investment decisions made based on the information contained in this | ||
Presentation (material or speech) or any other support materials handed out or shown during the Presentation. This | ||
Presentation shall not be considered a recommendation of purchase of the | shares. When deciding to acquire |
shares issued by Syn, potential investors may undertake their own search efforts and analysis of the operational and financial | |
2 | conditions of Syn, and of the risks involved in such decision. |
1
ACHIEVEMENTS 4Q23
ACHIEVEMENTS
ASSET SALE
- Sale of Suarez Trade building
- October 2023
- Transaction of R$ 14.1 million (of which 66.57% is SYN's share).
TOP RANKING OPEN CORPS
- For the 4th consecutive time, SYN has been recognized by the Brazilian ranking of innovative companies.
• This year we achieved 3rd place in the | Estate | category. |
4
SUBSEQUENT EVENTS
The transactions mentioned below depend on the overcoming of precedent conditions to be completed.
ASSET SWAP
Status: Contract signed, awaiting overcoming of precedent conditions.
02/07/24: SYN announced the signing of documents establishing the exchange of participation in some assets in its portfolio
SYN RECEIVES
- 37.5% of the company that owns 100% of Tietê Plaza Shopping
- ~R$ 19 million in debt of this company
- 37.5% of the company that owns 85% of Shopping Cerrado
SYN HANDS
- 20% of Torres JK D and E (via fund shares)
- ~R$79 million in debt from these funds
- ~R$57 million in cash
MALLS TRANSACTION
Status: Binding MOU signed.
27/02/24: SYN signed a binding Memorandum of Understanding with the real estate fund XP Malls (XPML11, on the stock
exchange), related to the sale of the shares below in its 6 shopping malls, for the value of R$1,850 million: :
• 51% of Grand Plaza Shopping | • 52,5% of Tietê Plaza Shopping |
• 32% of Shopping Cidade SP | • 85% of Shopping Cerrado |
• 70% of Shopping Metropolitano Barra | • 23% of Shopping D |
SYN will continue to manage the assets involved in the transaction.
5
SUMMARY OF TRANSACTIONS
The transactions mentioned below depend on the overcoming of precedent conditions to be completed.
Original Scenario | Scenario after Swap | Scenario after XP Malls Transaction | |
%SYN Share | |||
Grand Plaza | 61.41% | 61.41% | 10.41% |
Shopping Cidade São Paulo | 92.00% | 92.00% | 60.00% |
Shopping Metropolitano Barra | 80.00% | 80.00% | 10.00% |
Shopping Tietê Plaza | 25.00% | 62.50% | 10.00% |
Shopping Cerrado | 53.13% | 85.00% | 0.00% |
Shopping D | 31.59% | 31.59% | 8.59% |
JK D | 30.00% | 10.00% | 10.00% |
JK E | 30.00% | 10.00% | 10.00% |
Gross Debt Reduction | + R$ 60 million | ||
Cash | - R$ 57 million | + R$ 1,850 million | |
6
2
OPERATIONAL PERFORMANCE
7
OCCUPANCY INDEX ¹
PHYSICAL OCCUPATION
SYN PORTFOLIO (%)
90.5% | 92.7% | 93.0% | 178,359 m² | Malls: 5.383 m² | |
15,810 | Offices: 6.543 m² | ||||
Warehouse: 3.884 m²
91.1%162,549
Vacancy
Occupation
4Q21 | 4Q22 | 4Q23 | 4Q23 |
Total Physical Occupation
Total Physical Occupation (ex CLD warehouse vacancy)
FINANCIAL OCCUPANCY
SYN PORTFOLIO (%)
91.3% 93.2% 93.0%
92.4%
4Q21 4Q22 4Q23
Total Financial Occupancy
Total Financial Occupancy (ex CLD warehouse vacancy)
Shopping Malls
Triple A
Class A
Warehouses
8
95.8% | Shopping Malls | ||||
81.0% | Triple A | ||||
86.5% | Class A | ||||
49.8% | Warehouses | ||||
94.8%
86.8%
87.4%
49.8%
¹ The analysis does not consider the ITM asset.
SHOPPING MALLS
PHYSICAL OCCUPATION | FINANCIAL OCCUPANCY |
93.7% | 95.3% | 95.8% | 92.5% | 94.5% | 94.8% |
92.3% 95.2% 95.8%
4Q21 | 4Q22 | 4Q23 | 4Q21 | 4Q22 | 4Q23 |
Total occupancy
Total occupancy (ex vacancy of the Grand Plaza office building)
9
SHOPPING MALLS
SALES EVOLUTION (R$ MM) | SAME STORES SALES (SSS) |
+9,5% | 21.2% | 8 | ||||||
3.079 | 6 | |||||||
24 | ||||||||
7.7% | 4 | |||||||
82 | 5.5% | |||||||
2 | ||||||||
4Q21 | 4Q22 | 4Q23 | 0 | |||||
162 | ||||||||
2.811 | SAME STORES RENT (SSR) | 8 | ||||||
18.8% | 6 | |||||||
9.9% | 4 | |||||||
2.9% | 2 | |||||||
Total Sales | SSS | Replacements | Kiosks and | Total Sales | 4Q21 | 4Q22 | 4Q23 | 0 |
2022 | Events | 4Q23 |
6,4%
2023
5,9%
2023
1 0
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Disclaimer
Syn Prop Tech SA published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2024 15:34:06 UTC.