JHSF tem o melhor tri da história, com shoppings ganhando share

JHSF has reported its strongest quarter ever, with shopping centers driving a substantial share of growth. The company's third quarter and the first nine months of the year both saw unprecedented results. Revenue increased 63% year-over-year to R$ 918 million, EBITDA rose 79% to R$ 470 million, and net profit reached R$ 392 million, a 29% increase.

Excluding the results of the parent company, recurring revenue also hit records, with revenue up 30% to R$ 482 million and EBITDA up 59% to R$ 244 million. CEO Augusto Martins expressed vigilance about Brazil's macro and political situation, but stated that the company's performance was largely independent of the challenging environment and its competitors.

This success is attributed to JHSF's unique ecosystem and partnerships with leading international brands. In the shopping vertical, JHSF outperformed the market, gaining market share and maintaining near-100% occupancy rates. Revenue grew 6%, with Shopping Cidade Jardim leading at 8%, and same-store sales up 5% and same-store rent up 12%.

For comparison, Iguatemi grew sales 1.6%, SSS grew 0.1%, and SSR grew 2.5%. JHSF's strategy involves attracting top luxury brands to its shopping centers, already home to flagship stores from brands like Tiffany, Hermes, Giorgio Armani, Prada, and Chanel. The company expects strong sales growth in the fourth quarter, driven by seasonal factors and the opening of CJ Fashion, a 4,000-square-meter department store within Shopping Cidade Jardim.

CEO Augusto Martins highlighted a rare combination of growth in daily sales and average revenue, with a 9% increase in daily sales to R$ 4,230 and a 7% increase in RevPar to R$ 2,128.