São Carlos announces its 1Q20 Results

São Paulo, Brazil – May 7th, 2020 – São Carlos Empreendimentos e Participações S.A. (B3: SCAR3), announces today its first quarter of 2020 results.

To access the Earnings Release, click here.


  • Gross revenue from leases totals R$68.6 million in 1Q20, 13.6% up from 1Q19 , driven by properties acquired in the last 12 months. On a same asset base, gross revenue from leases grew by 7.6%;
  • EBITDA reaches R$52.9 million, 20.0% up from 2019, with a margin of 80.8%;
  • FFO grows 61.8% in the quarter, to R$24.6 million, with a margin of 37.6%;
  • Recurring net income reaches R$12.8 million, with a margin of 37.6%;
  • The portfolio closed 1Q20 with physical and financial vacancies of 16.3% and 13.8%, respectively;
  • The market value of the portfolio reached R$4.7 billion, according to CBRE appraisal appreciating 11.6% in 12 months;
  • NAV (net asset value) closes the quarter at R$3.5 billion, 9.4% up from 1Q19 . NAV per share grows 11.5%, to R$63.1.

São Carlos is pleased to invite you to join its 1Q20 Results Conference Call:

May 8th, 2020

10:00 (Brasília time)
09:00 (New York time)
Phone: +55 (11) 3127-4971
Code: São Carlos
Replay phone: +55 (11) 3127-4999
Replay Code: 80384788
Webcast: clique aqui

Participants are requested to connect ten minutes prior to the time set for the conference calls.

Slides and webcast: A slide presentation will be available for viewing and downloading in our website The conference call in Portuguese will be live broadcast over the Internet on the same website, remaining available after the event.

For additional information, contact the Investor Relations Office:

Investor Relations Department
Phone: +55 (11) 3048-5419

About São Carlos Empreendimentos
São Carlos Empreendimentos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Its goal is to maximize rental revenues and the real estate portfolio´s market value. Our business strategy includes investing in commercial properties, retrofitting our real estate and increasing rent, and disposing of already matured properties. We currently have a portfolio which includes mostly class A office buildings and retail stores, located in the States of São Paulo and Rio de Janeiro.