Multiplan breaks record and profits R$1 billion – 02/08/2024 – Panel SA

About to turn 50, Multiplan, the shopping center giant, recorded a record profit of R$1 billion last year.

“We had the best result in history last year,” said Armando d’Almeida Neto, vice-president of finance and investor relations.

The executive states that, in addition to distributing the highest return in history to its shareholders, Multiplan also reduced its debt. Today, the debt is $3.2 billion.

In the previous year of the pandemic, the company’s profit had been R$471 million. With the 2023 results, the company increased its market share from 10.4%, in 2022, to 11.3%.

“There are several factors that combined to generate the result of this relevance”, says Neto.

The company’s vice president also mentions that, in 2023, 584 stores were replaced in the group’s 20 shopping malls in the country, equivalent to more than 80 thousand square meters of new establishments.

“We brought news, new brands, new operations,” he said.

All shopping malls saw sales increase last year, which, together, reached R$21.9 billion. In January this year, there was an increase in sales of 8.9% compared to the same period in 2023.

With Diego Felix It is Matheus Teixeira

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