Q2 2024 Multiplan Empreendimentos Imobiliarios SA Earnings Call (English, Portuguese) Transcript
Key Points
- Earnings grew by 14% in the second quarter and 20% in the first half of 2024.
- Successful delivery of 15,000 square meters of ABL in Curitiba and another 5,000 meters in Belo Horizonte.
- Digital innovation with the Multi app showing significant growth, with 12 million accesses and 2 million downloads in the last 12 months.
- Strong buyback movement, with more shares repurchased in the first half of 2024 than in the entire 2023.
- Positive outlook on rent growth post-revitalization works, with examples like New York City Center showing a 28.7% increase in rent in the quarter.
- Drop in rent year-on-year for important assets like BarraShopping and Morumbi due to revitalization works.
- Impact of the floods in Rio Grande do Sul, affecting operations and sales temporarily.
- Challenges with specialized workforce availability, potentially impacting CapEx and project timelines.
- Temporary discomfort and reduced space for kiosks and other operations during revitalization works.
- Concerns about the potential impact of the tax reform on the real estate sector, with uncertainties still looming.
Good morning, ladies and gentlemen, and welcome to the earnings call of the second quarter of 2024 of Multiplan. We have here today, the Executive Director of the company. And we invite all the participants that the earnings presentation is available for download at Multiplan's Investor Relations website.
Before we would like to continue, I would like to say that any forward-looking statements that are based on the beliefs and assumptions of Multiplan's management and on information currently available to the company and -- it's available for the company. Any of these forward-looking statements are not insurance of performance in these forward-looking statements depend on circumstances that might occur or not. Investors have to understand that industry conditions and any other operational factors might affect the future results of the company and might lead to results that differ materially from those stated in the forward-looking statements.
Now I'd like to give the floor to Mr. Eduardo Peres, the CEO. He will start the presentation. Please, Mr. Eduardo, the floor is yours.
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