Iguatemi closes first quarter 2025 with 17 percent sales growth
Credits: cortesia Iguatemi S.A. Brazil - Iguatemi S.A. reported a 17 percent increase in total sales in the first quarter of 2025. The Brazilian real estate developer recently acquired two malls in Sao Paulo. In the first quarter of 2025, the company achieved a 6.6 percent growth in net revenue, with a significant earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of 80.2 percent in the shopping centre unit. “In consolidated terms, the EBITDA margin was 74.0 percentage points, with capital expenditure of 26.5 million of reais”. According to the company's management, despite the seasonality of the first quarter, the level of discount on rent and the level of gross default by retailers are at the company's lowest historical levels. “These results demonstrate the company's operational and financial strength, as well as the strategic alignment in maintaining a high-performance portfolio and healthy retailers,” the statement said. Shopping JK Iguatemi in São Paulo Credits: cortesia Iguatemi S.A. Operational Performance: Indicators continue to grow The average total gross leasable area (GLA, including the 16.63 percent acquired from Shopping RioSul) in square metres increased by 3.4 percent compared to the same period in 2024. Total sales grew by 17 percent, representing 5 billion of Brazilian real (879 million dollars) compared to 4.3 billion of real in the same period in 2024. Same store sales (SSS) and same area sales (SAS) indicators rose by 6.5 percent and 7.6 percent, respectively. The occupancy rate increased by 2.5 percent, with 96.6 percent in 2025 compared to 94.1 in 2024. Net default was 1.4 percent in 2025, representing a decrease of 0.7 percent compared to 2.1 in the previous year. Iguatemi is one of the largest real estate developers in the shopping centre sector in Brazil. Its activities include the development and management of regional shopping centres, premium e-commerce in the marketplace model, premium outlets and mixed-use real estate complexes with commercial and residential towers. The company opened the first shopping centre in the country, Iguatemi São Paulo, in 1967 and currently holds stakes in 14 shopping centres, two premium outlets, one premium e-commerce in the marketplace model and four commercial towers. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
Brazil - Iguatemi S.A. reported a 17 percent increase in total sales in the first quarter of 2025. The Brazilian real estate developer recently acquired two malls in Sao Paulo.
In the first quarter of 2025, the company achieved a 6.6 percent growth in net revenue, with a significant earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of 80.2 percent in the shopping centre unit. “In consolidated terms, the EBITDA margin was 74.0 percentage points, with capital expenditure of 26.5 million of reais”.
According to the company's management, despite the seasonality of the first quarter, the level of discount on rent and the level of gross default by retailers are at the company's lowest historical levels. “These results demonstrate the company's operational and financial strength, as well as the strategic alignment in maintaining a high-performance portfolio and healthy retailers,” the statement said.
Operational Performance: Indicators continue to grow
The average total gross leasable area (GLA, including the 16.63 percent acquired from Shopping RioSul) in square metres increased by 3.4 percent compared to the same period in 2024. Total sales grew by 17 percent, representing 5 billion of Brazilian real (879 million dollars) compared to 4.3 billion of real in the same period in 2024. Same store sales (SSS) and same area sales (SAS) indicators rose by 6.5 percent and 7.6 percent, respectively.
The occupancy rate increased by 2.5 percent, with 96.6 percent in 2025 compared to 94.1 in 2024. Net default was 1.4 percent in 2025, representing a decrease of 0.7 percent compared to 2.1 in the previous year.
Iguatemi is one of the largest real estate developers in the shopping centre sector in Brazil. Its activities include the development and management of regional shopping centres, premium e-commerce in the marketplace model, premium outlets and mixed-use real estate complexes with commercial and residential towers. The company opened the first shopping centre in the country, Iguatemi São Paulo, in 1967 and currently holds stakes in 14 shopping centres, two premium outlets, one premium e-commerce in the marketplace model and four commercial towers.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
This article was translated to English using an AI tool.
