2012 Annual and Sustainability Report

Transcription

Multiplan. Quality in every detail.
1
MULTIPLAN. QUALITY IN EVERY DETAIL
In 2012, Multiplan stood out for its significant expansion in its gross leasable area according to schedule
and standardization observed across all segments. The positive results from works completed, expansion
projects and performance reflect the Company’s commitment to its stakeholders, the dedication of its staff
and the efficiency of Multiplan’s management.
This solid growth is possible thanks to the focus on quality that guides the Company in its
continuous pursuit of stakeholder satisfaction together with regional development where it
operates, leading Multiplan to a sustainable and long term growth.
5
The year’s success, described in this report, is the result of dedication
1
and excellent results in deliveries, with
“quality in every detail.”
4
2
For the second
consecutive year, Multiplan’s
Annual and Sustainability Report
follows the GRI (Global Reporting
Inititative), adhering to the C-level
indicators, which together make up
the corporate sustainability reporting
with a guidance of internationally
recognized indicators.
2
3
6m
CONTENTS
Timeline
//4
Message from the CEO //5
Mission, Vision and Values //6
2012 Highlights //7
About the Report
//11
.01 CORPORATE PROFILE //12
.02 MULTIPLAN PORTFOLIO //19
.03 STRATEGY AND COMPETITIVE ADVANTAGES //43
.04 CORPORATE GOVERNANCE //46
.05 OPERATING AND FINANCIAL PERFORMANCE //55
.06 SOCIAL MANAGEMENT //71
.07 ENVIRONMENTAL MANAGEMENT //80
GRI Index //86
Credits and Corporate Information //94
Financial Statements //96
3
TIME LINE
Company
Foundation
1975
/ 1984
Pioneer – Developing
the suburbs
SHOPPING CENTERS
BH Shopping (Belo Horizonte, BH) – 1979
RibeirãoShopping (Ribeirão Preto, SP) – 1981
BarraShopping (Rio de Janeiro, RJ) – 1981
MorumbiShopping (São Paulo, SP) – 1982
ParkShopping (Brasília, DF) – 1983
REAL ESTATE PROJECTS
Residential
Condominium Chácara Santa Elena
(São Paulo, SP) – 1983
5
Portfolio
Consolidation
1985
/ 2006
SHOPPING CENTERS
DiamondMall (Belo Horizonte, BH) – 1996
New York City Center (Rio de Janeiro, RJ) – 1999
Shopping Anália Franco (São Paulo, SP) – 1999
ParkShoppingBarigüi (Curitiba, PR) – 2003
BarraShopping Medical Center*
(Rio de Janeiro) - 1994
9
shopping centers
in operation
Residential / SALE
Condominium Barra Golden Green
(Rio de Janeiro, RJ) – 1993
Condominium Península Green
Condominium Royal Green Península
Commercial / SALE
MorumbiOfficeTower (São Paulo, SP) – 1993
BarraShopping Business Center
DEVELOPMENTS ABROAD
GRI:
2.5
CascaisShopping (Portugal) – 1991
Real Estate Development II Villaggio
(Miami, EUA) – 1998
Partnership with the Ontario Teachers’ Pension Plan,
through its subsidiary, Cadillac Fairview – 2006
*First medical center inside a shopping mall (BarraShopping)
4
2007
/ 2012
– CAPITAL MARKETS
– COMMERCIAL FOR LEASE
– SHOPPING MALL PORTFOLIO DOUBLED
Start of trading of the
Company’s shares on the
Stock Exchange on Level 2 – July/2007
Pátio Savassi (Belo Horizonte, BH) – 2007
BarraShoppingSul (Porto Alegre, RS) – 2008
Shopping Santa Úrsula (São Paulo, SP) – 2008
Shopping Vila Olímpia (São Paulo, SP) – 2009
ParkShopping São Caetano
(São Caetano, SP) – 2011
JundiaíShopping (Jundiaí, SP) – 2012
ParkShopping Campo Grande
VillageMall (Rio de Janeiro, RJ) – 2012
RibeirãoShopping (São Paulo, SP) – VI expansion
+1
REAL ESTATE DEVELOPMENTS
Residential / SALE
Condominium Royal Green Península
Commercial / SALE
Centro Profissional MorumbiShopping
Crystal Tower Commercial Tower
(Porto Alegre, RS) – 2011
MorumbiBusinessCenter (São Paulo, SP) - 2012
Centro Profissional RibeirãoShopping
Commercial / RENTAL
ParkShopping Corporate (Brasília, DF) - 2012
17
shopping malls
in operation
+1 shopping center
in progress
MALL EXPANSIONS
INAUGURATED IN 2012
SHOPPING CENTERS
shopping malls
in operation
Aceleração
do crescimento
Projects
in progress
SHOPPING MALL
Parque Shopping Maceió (Maceió, Alagoas)
Delivery scheduled for: 2nd quarter 2013
Residential / SALE
Résidence Du Lac (Porto Alegre, RS)
Delivery scheduled for: 2nd half of 2014
Commercial / SALE
Diamond Tower (Porto Alegre, RS)
Commercial / SALE
Morumbi Corporate (São Paulo, SP)
Delivery scheduled for: 2nd quarter of 2013
Expansions
Expansion VII of BarraShopping (Rio de Janeiro, RJ)
Delivery scheduled for: May 2014
Expansions VII and VIII of Ribeirão Shopping
(Ribeirão Preto, SP)
MESSAGE
FROM THE CEO
GRI:
1.1
Multiplan’s performance in 2012 was a solid, absolute
demonstration of the Company’s improvements and
achievements: the year included delivery as scheduled of three
new shopping centers in October, November and December,
expansion of RibeirãoShopping in Ribeirão Preto (SP), three
mixed use real estate projects in São Paulo (SP) and Brasília (DF),
as well as the acquisition of an additional 30% of Shopping Vila
Olimpia in São Paulo (SP).
In this period, our investments reached the significant milestone
of R$1.3 billion for new projects for lease and sale, strengthening
our mixed use strategy, ensuring excellent results added by the
synergy between retail and services. Our Gross Leasable Area
(GLA) increased by 28.3% when compared to 2011, surpassing
the mark of 528 thousand m². Including 650 new stores and an
additional 6,700 parking spots, 116 thousand m 2 in new GLA was
delivered.
These investments have strengthened our position in the markets
where we already operate. In upstate São Paulo, we inaugurated
JundiaíShopping in Jundiaí; in Rio de Janeiro (RJ), we opened
two new shopping centers, ParkShoppingCampoGrande and
VillageMall, on the west side of the city. In São Paulo (SP) we
delivered MorumbiBusinessCenter, an office tower that has
been sold, integrated with the MorumbiShopping complex, and
expanded our stake in Shopping Vila Olimpia.
In Ribeirão Preto (SP), we inaugurated a new expansion of
RibeirãoShopping and delivered an office tower for sale, the
RibeirãoShopping Professional Center, marking the completion
of the first phase of the complex development master plan. In
Brasília (DF), we delivered ParkShopping Corporate, composed of
two office towers for lease connected to ParkShopping.
Projects still in progress include RibeirãoShopping expansions
VII and VIII with delivery scheduled for August and December of
2013 and bringing the project increasingly closer to completion,
5
in addition to Morumbi Corporate, composed by two new office
towers for lease and strengthening MorumbiShopping complex.
In Rio de Janeiro (RJ), BarraShopping expansion VII will add 9.5
thousand m 2 of GLA with new stores and offices for lease. These
projects will add 105 thousand m 2 to owned GLA, an increase of
20%. In line with the mixed use strategy, we proceeded with the
development of Parque Shopping Maceió, the dynamic hub of
a major real estate project in Alagoas marking our entry into the
Brazilian Northeast.
In Porto Alegre (RS), the BarraShoppingSul complex will be even
more valuable as a result of the construction of two new towers:
Diamond Tower (offices) and Résidence du Lac (residential).
The excellent results presented in this report are derived from
the dedication and engagement of the entire Multiplan team and
our commitment is to continue these efforts to bring greater
achievements. We thank our employees, shareholders and
customers for their support and confidence.
Enjoy the Report,
JOSÉ ISAAC PERES
CEO
Simultaneously, we continue to study new project developments
for our land bank that exceeds 600 thousand m 2, as well as
the 150 thousand m 2 of potential expansion area for existing
shopping centers.
The heavy investments made in 2012 were followed by significant
economic results in all aspects. We achieved a net income of
R$388.1 million, up 30.1% over the previous year, while EBITDA
was up 35.2% to R$615.8 million.
Net revenue grew 42.2% in the year and total sales at our malls
reached R$9.7 billion, growing 14.9% as compared to 2011
for a sustained growth rate that reaffirms our confidence in the
performance of both retail and our ventures.
One of the main values guiding the Company’s performance is
that the “secret of success is doing things well.” Thus, we work
to sustain and improve our quality standard. With each Multiplan
project we accumulate knowledge so that our next ventures
can be even better. Deliveries made on schedule, together with
projects in progress and future growth potential
are Multiplan differentials in its pursuit of value creation
for shareholders.
JOSÉ ISAAC PERES
WAS NAMED ONE OF THE
“CARIOCAS OF THE YEAR” BY
VEJA RIO MAGAZINE.
To read the full interview (in
Portuguese), click here:
http://vejario.abril.com.br/
edicao-da-semana/jose-isaacperes-725083.shtml
MISSION
To promote, through shopping centers and real estate
developments, quality of life, convenience and generation
of value.
VISION
To consolidate its endeavors as the best and most complete
solutions for the needs of consumption, leisure, services and
well-being, thus becoming the absolute reference in the Brazilian
shopping center industry.
VALUES
The secret of success is
doing things well.
Multiplan’s main goal is to achieve quality and excellence in all
its projects. The success over the years is the result of the belief
that everything must be well done. And to do well, you have to
like what you do. It was upon this principle that Multiplan built its
career and became one of the most solid and dynamic Brazilian
entrepreneurs.
GRI:
4.8
Values
INNOVATIVE VISION
EXCELENCE IN RESULTS
ETHICAL AND TRANSPARENT POSTURE
SYNERGY BETWEEN TEAMS
COMMITMENT AND DETERMINATION
6
2012 HIGHLIGHTS
GRI:
2.9
SEVEN PROJECTS
DELIVERED IN 2012:
SHOPPING CENTER INAUGURATIONS:
inauguration of three new shopping
centers, delivery of three mixed use real estate
projects and one expansion. Acquisition of an
additional 30% of Shopping Vila Olimpia.
Gross Leasable Area (GLA) increased by
.a
28.3% over 2011.
.b
.c
DELIVERED
Projects
.a
VillageMall in Rio de Janeiro (RJ)
.b
It brings together new international and national brands that lead the luxury market, and offers a
unique space on the west side of Rio de Janeiro.
ParkShopping Campo Grande in Rio de Janeiro (RJ)
With modern architecture, it features an outdoor gourmet area overlooking a large green area
and a lake.
.c
JundiaíShopping in Jundiaí (SP)
Center of convenience designed with the latest industry innovations, offering entertainment, services,
shopping and food to the high-income population.
7
2012 HIGHLIGHTS
EXPANSION INAUGURATION
DELIVERED
Projects
RibeirãoShopping VI Expansion in Ribeirão Preto (SP)
The expansion adds 4.1 thousand m2 in GLA, with 41 new stores and deck parking with 1,200
parking spaces.
8
2012 HIGHLIGHTS
DELIVERY OF MIXED USE REAL ESTATE PROJECTS
DELIVERED
Projects
.a
.b
.c
SALE
.a
MorumbiBusiness Center in São Paulo (SP)
Class A office building adjacent to MorumbiShopping and sold for R$165 million.
LEASE
.c
ParkShopping Corporate in Brasília (DF)
Two office towers integrated to ParkShopping opened to leasing when
construction was completed.
.b
RibeirãoShopping Professional Center in Ribeirão Preto (SP)
Integrated with RibeirãoShopping, the project reinforces Multiplan’s strategy of developing
mixed use complexes, creating synergy between retail and services.
9
2012 HIGHLIGHTS
ANNOUNCED PROJECTS /
EXPANSIONS
MULTIPLAN INCREASED ITS STAKE
IN SHOPPING VILA OLÍMPIA IN SÃO
PAULO (SP) FROM 30% TO 60%.
.a
.b
.a
Ribeirão Shopping Expansions VII and VIII in São Paulo (SP)
Expansion VII: The project will add 6.3 thousand m2 in GLA, 23 new stores and a fitness center.
Expansion VIII: It will increase GLA by 10.0 thousand m2 with 65 new stores.
.b
BarraShopping Expansion VII in Rio de Janeiro (RJ)
It will add 9.5 thousand m2 of total GLA, 45 new stores and 4.2 thousand m2 of office space for
lease, increasing the size of the BarraShopping complex.
10
ABOUT THIS
REPORT
For the second consecutive year, Multiplan is publishing the Annual
and Sustainability Report according to the guidelines of the Global
Reporting Initiative (GRI), an international reporting standard on
economic, social and environmental performance. As in the previous
year, the group chose to report at compliance level C, decision made
to take advantage of the opportunity to improve the approach to
matters pertaining to Multiplan and its stakeholders in the publication
for the year 2012.
For further information, Multiplan offers
the following relationship channels:
Investor Relations Department
Phone: +55 (21) 3031-5600 / 3031-5322
E-mail: [email protected]
Previous annual reports are available for
viewing or download on the
Company’s website
www.multiplan.com.br/ri
The continued use of the GRI standard reflects the careful maintenance
management, strengthening the operating and management best
practices. It also shows a continuous search for relationship with the
Company’s stakeholders in a transparent manner.
This report encompasses the organization’s activities between January
1 and December 31, 2012. The information presented covers the
results of the current operations, which include 17 shopping centers,
located in the major consumer markets throughout Brazil, in the states
of Rio de Janeiro, São Paulo, Minas Gerais, Rio Grande do Sul, Paraná
and the Federal District. In addition, the company is developing one
shopping center in the Alagoas state capital, and three mixed use real
estate projects and three expansions.
The information presented was developed according to the data
compiled by Multiplan and possible subjects relevant to the company’s
stakeholders, defined by a multidisciplinary working group gathered
in 2012, composed by professionals from different areas within the
Company who took part in a workshop on the GRI indicators.
The GRI Index is available at the end of the report, on page 85, a tool
that facilitates the location of answers to the GRI indicators.
GRI:
11
3.1
3.2
3.3
3.4
3.5
3.6
.01 CORPORATE PROFILE
VillageMall (RJ)
12
.01 CORPORATE
PROFILE
MULTIPLAN
GRI:
2.1
2.2
2.4
2.5
2.6
2.7
2.8 EC9
Multiplan Empreendimentos Imobiliários S.A., headquartered in
Rio de Janeiro (RJ), is one of the largest companies in the Brazilian
shopping center industry. A publicly-held company, it is listed on
Level 2 of Corporate Governance1 on the BM&FBovespa-São
Paulo Stock, Commodities and Futures Exchange and has been
traded under ticker symbol MULT3 for five years.
Founded in 1975, it has 37 years of industry experience, operating
throughout the development cycle of mixed use projects from
prospecting, analysis and construction to the management of
shopping centers and commercial towers, and real estate projects
for sale.
Multiplan’s portfolio consists of 17 shopping centers present in
Brazil’s major consumer markets - Rio de Janeiro, São Paulo,
Minas Gerais, Rio Grande do Sul, Paraná and the Federal District
- and one under development, Parque Shopping Maceió, in
the capital of Alagoas. In addition to its geographic footprint,
its projects, focused mainly on upper-middle and high income
classes, serve all socioeconomic groups and offer the same
Multiplan quality while respecting local cultures.
The concept of mixeduse projects, developed by
Multiplan in a pioneering way for
over 20 years, is an important strategic
advantage of the Company. With its
experience, quality culture and know-how,
Multiplan develops major residential and
commercial real estate in the surrounding
areas of its shopping centers. More than
a source of revenue, these projects
value the region making it the
benchmark in leisure, services
and convenience.
Altogether, the 17 shopping centers in operation house more
than 4,600 stores in a Gross Leasable Area (GLA) of 698,634
m 2, receiving about 164 million visits each year and generating
approximately 60 thousand direct and indirect jobs.
1
To learn more about the Level 2 Corporate Governance and the Novo Mercado
from BM&FBovespa, visit: http: http://www.bmfbovespa.com.br
13
17
shopping centers
in operation
About
60 thousand
164
million
direct and
indirect jobs
More than
visits per year
70%
of Brazilian GDP
concentrated in
Multiplan’s investment
More than
74%
R$ 1.3 billion
invested in new
shopping centers
in 2012
of Brazil’s GLA
are in the South
and Southeast ,
More than
4,600 stores
where most of Multiplan’s developments
are found
Total GLA
of more than
698 thousand m2
14
Portfolio
AL
Brasília
DF
ParkShopping
ParkShopping Corporate
PR
Curitiba
RS
BarraShoppingSul
Parque Shopping Maceió
Pátio Savassi
DiamondMall
BH Shopping
MG
SP
RJ
São Paulo
Shopping Anália Franco
MorumbiShopping
Shopping Vila Olímpia
MorumbiCorporate
Jundiaí
JundiaíShopping
Ribeirão Preto
Office Towers for Lease in Operation
Office Towers for Lease in Progress
Shopping Centers in Progress
Shopping Centers in Operation
Maceió
Belo Horizonte
ParkShoppingBarigüi
15
% Multiplan
Total GLA
(m²)
Lease
Sales
SHOPPING CENTERS IN OPERATION
PRESENCE
Porto Alegre
State
Shopping Santa Úrsula
RibeirãoShopping
BH Shopping
MG
80%
47,565
68.2 M
1,008.8 M
RibeirãoShopping
SP
76.7%
50,552
33.7 M
569.7 M
BarraShopping
RJ
51.1%
69,224
77.9 M
1,627.4 M
MorumbiShopping
SP
65.8%
55,086
88.6 M
1,303.6 M
ParkShopping
DF
59.6%
53,448
40.6 M
882.2 M
DiamondMall
MG
90%
21,386
34.5 M
509.5 M
New York City Center
RJ
50%
22,271
6.8 M
209.0 M
SP
30%
50,427
22.0 M
829.0 M
PR
84%
50,175
43.4 M
758.5 M
Pátio Savassi
MG
96.5%
17,253
22.9 M
331.5 M
SP
62.5%
22,992
5.7 M
164.0 M
BarraShoppingSul
RS
100%
68,212
46.6 M
650.8 M
SP
60%
28,363
19.7 M
302.7 M
SP
100%
39,274
35.6 M
418.5 M
JundiaíShopping
SP
100%
34,535
7.5 M
80.4 M
RJ
90%
42,342
5.2 M
50.6 M
Village Mall
RJ
100%
25,529
3.1 M
26.7 M
74.6%
698,634
561.9 M
9,722.7 M
50%
13,360
50%
13,360
50%
37,769
50%
37,769
561.9 M
9,722.7 M
Rio de Janeiro
Subtotal / SCs in operation
BarraShopping
VillageMall
Barra Shopping Office
OFFICE TOWER IN OPERATION
ParkShopping Corporate
DF
Subtotal / Towers in operation
SHOPPING MALLS IN PROGRESS
AL
Subtotal / SC in progress
OFFICE TOWERS FOR LEASE IN PROGRESS
Morumbi Corporate
SP
100%
74,198
BarraShopping Office
RJ
51.1%
4,204
97.4%
78,402
Subtotal / Towers in progress
EXPANSIONS IN PROGRESS
RibeirãoShopping
SP
76.2%
16,203
BarraShopping
RJ
51.1%
5,275
70%
21,478
75.10%
849,643
São Caetano
Subtotal / Expansions in progress
TOTAL PORTFOLIO
CORPORATE
STRUCTURE
GRI:
2.3
BUSINESS MANAGEMENT
AND ORGANIZATION
The Company has a unified Organizational Culture, management
policies and operations to maintain project identity, attention to quality
in every detail and the unique experience of its customers.
As a large company with shopping centers present in different
regions of seven Brazilian states, Multiplan promotes decentralized
management of its business by project, seeking to understand
and serve the different profiles and demand particularities of
its stakeholders.
This approach enables Multiplan to achieve synergy and efficiency
gains in institutional and management processes, in addition to
focusing its extensive experience and local knowledge on the
development of its shopping centers in Brazil.
In addition to well defined fundamental values and principles, this
management model is supported by an extensive and well-structured
business organization, as follows:
CEO
CFO
Financial
Administrative
Financial /
Treasury
Human
Resources
Planning
Administrative
Investor
Relations
Accounting
Corporate
legal /
Compliance
Fiscal
16
CIO/
CDO
COO
Information
Technology
Commercial
Commercialization
Rio de Janeiro
Commercialization
São Paulo
Corporate
Legal
Shopping
Legal
Merchandising
Shopping
Center
Comptroller
Projects
Works
Rio de Janeiro
Architecture
Rio de Janeiro
New
Businesses
Works
São Paulo
Technical
São Paulo
Technical
Incorporations
Institutional
Relations
Technical
Operations
Marketing
SHAREHOLDING STRUCTURE ESTRUTURA SOCIETÁRIA
Multiplan’s capital stock is divided into 179,197,214 shares, with
167,338,867 common shares (ON), listed on the BM&FBovespa
under ticker symbol MULT3, and 11,858,347 preferred shares (PN)
maintained exclusively by the Ontario Teachers´ Pension Plan (OTPP),
a Canadian pension fund.
GRI:
3.8
41.86% ON
0.01% PN***
30.09% TOTAL
0.06% ON
0.06% TOTAL
On December 31, 2012, its capital stock was R$1.8 billion, with the
following shareholding structure:
0.63% ON
0.59% TOTAL
Treasury
100.00%
22.25%
24.07% ON
99.99% PN***
29.10% TOTAL
31.51% ON
29.43% TOTAL
Adm + Treasury 0.5%
77.75%
Free Float
39.1%
Common
OTPP
29.1%
1.97% ON
1.84% TOTAL
22.5%
Prefered
6.6%
2.00%
0.01%
1.00%
MTP + Peres
31.3%
%
99.00%
100.0%
80.0%
99.99%
Multiplan Planejamento, Participações e
Administração S.A.
Free Float
Board of Directors and Executive Officers
Shares in treasury
1700480 Ontário Inc.
TOTAL
100.00%
70,008,301
90.0%
65.78%
98.00%
52,729,430
100.00%
99.99%
50.00%
59.63%
0.45%
84.00%
52,143,478
179,197,214
50.00%
60.00%
75.00%
100.00%
96.50%
60.00%
50.00%
50.00%
100.00%
62.50%
100.00%
50.00%
100.00%
30.00%
100.00%
100.00%
100.00%
76.74%
38,260
884,745
100.00%
51.7%
50.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
90.00%
In progress
100.00%
100.00%
100.00%
90.00%
Multiplan Holding S.A. holds a stake equal to 1.00% or less in these companies.
** José Isaac Peres holds a 0.01% stake in this company.
*** Theses percentages reflect two preferred shares transferred in trust to two former members of the Board appointed by the controller shareholder 1700480
Ontario Inc.
17
100.00%
100.00%
100.00%
MULTIPLAN’S OPERATIONS
IN COMPANIES WHERE IT
HOLDS STAKES
Barrasul Empreendimento Imobiliário Ltda.
MPH Empreendimento Imobiliário Ltda.
Operates in the development and commercialization of residential real estate
named “Résidence du Lac”, located in Porto Alegre, Rio Grande do Sul State.
Operates in the commercialization of Shopping Center Vila Olímpia
located in the city of São Paulo, São Paulo State, which owns a
60.00% stake in the mall since February of 2012.
CAA Corretagem e Consultoria Publicitária Ltda.
Provision of specialized brokerage services, consulting for promotions
and advertisement, leasing and/or marketing of commercial spaces
and merchandising.
Multiplan Administradora de Shopping Centers Ltda.
Operates in the management, promotion, launch and development of shopping
malls, and management of its own and third party malls’ parking garages.
CAA Corretagem Imobiliária Ltda.
Multiplan Greenfield I Empreendimento Imobiliário Ltda.
Provision of specialized brokerage services and real estate
consulting in general.
Real estate development and commercialization of Diamond Tower in
the city of Porto Alegre, Rio Grande do Sul State.
Danville SP Empreendimento Imobiliário Ltda.
Multiplan Greenfield II Empreendimento Imobiliário Ltda.
Operates in the development and commercialization of real estate in general and
related activities. Real estate development in Ribeirão Preto, São Paulo State.
Operates in the development and commercialization of Morumbi
Golden Tower located in the city of São Paulo, São Paulo State.
Embraplan Empresa Brasileira de Planejamento Ltda.
Multiplan Greenfield III Empreendimento Imobiliário Ltda.
Operates in the preparation, administration and coordination of projects.
Operates in the development and commercialization of real estate in
general, shopping malls and related activities located in the city of Rio
de Janeiro, Rio de Janeiro State
Jundiaí Shopping Center Ltda.
ParkShopping Corporate Empreendimento
Imobiliário Ltda.
Operates in the development and commercialization of properties
without provision of services of any kind to third parties and
participation in other companies.
Parque Shopping Maceió S.A.
Operates in the development and management of Parque Shopping
Maceió and its surroundings, located in Maceió.
Pátio Savassi Administração de Shopping Center Ltda.
Parking garage management of Shopping Pátio Savassi, located in the
city of Belo Horizonte, Minas Gerais State.
Renasce - Rede Nacional de Shopping Centers Ltda.
Participation in shopping malls and consortia related to the
development and management of shopping malls.
Ribeirão Residencial Empreendimento Imobiliário Ltda.
Operates in the development and commercialization of residential real
estate, located in the city of Ribeirão Preto, São Paulo State.
Operates in the commercialization of Jundiaí Shopping, located in the
city of Jundiaí, in São Paulo State.
Multiplan Greenfield IV Empreendimento Imobiliário Ltda.
SCP Royal Green Península
Manati Empreendimentos e Participações S.A.
Operates in the development and commercialization of Morumbi
Diamond Tower located in the city of São Paulo, São Paulo State.
Operates in the development and management of the parking garage and the
Santa Úrsula mall, located in the city of Ribeirão Preto, in São Paulo State.
Multiplan Holding S.A.
Company created through the partnership established on February
15, 2006, between the Company and its parent company, Multiplan
Planejamento, Participações e Administração S.A., to explore residential
development Royal Green Península, in the city of Rio de Janeiro, Rio
de Janeiro State. The Company has a 98% stake.
Morumbi Business Center Empreendimento
Imobiliário Ltda.
Operates in the development and commercialization of the commercial
building MorumbiBusinessCenter located in the city of São Paulo, São Paulo
State, holding 30% indirect stake in Shopping Vila Olímpia via 50% holdings
in MPH, which in turn holds 60% of Shopping Vila Olímpia.
18
Participation in companies that focus on the development and
management of shopping malls and real estate.
ParkShopping Campo Grande Ltda.
Operates in the commercialization of ParkShopping Campo Grande,
located in the city of Rio de Janeiro, Rio de Janeiro State.
.02 MULTIPLAN PORTFOLIO
50m
VillageMall (RJ)
19
.02 MULTIPLAN
PORTFOLIO
PROJECTS IN OPERATION
GRI:
2.2
2.10
EN5 EN18
SHOPPING CENTERS
In 2012, Multiplan’s portfolio included 17 shopping centers in
operation, three of which were opened in the last quarter of the
year - JundiaíShopping, in upstate São Paulo, ParkShopping
Campo Grande and VillageMall, both in Rio de Janeiro (RJ).
At the end of the period, shopping center sales totaled
R$9.7 billion up 14.9% over 2011. The three new shopping
centers have already contributed with R$169.7 million in sales
in less than 45 days in operation.
The shopping centers are benchmarks in their respective
regions and they have posted increasing results as a reflection
of Multiplan’s attention and dedication to every detail to
satisfy stakeholders. The shopping centers are affiliated with
the Brazilian Association of Shopping Centers (Abrasce), an
industry organization where the Company’s CEO serves on the
Board of Directors in addition to three Multiplan members on
the Advisory Board.
20
LEARN MORE ABOUT
MULTIPLAN SHOPPING
CENTERS.
BarraShopping is the name
of the country’s largest mixed
use complex, formed by the New
York City Center, the BarraShopping
Corporate Center and the VillageMall
(opened in December 2012).
In 2012, Multiplan announced the seventh
expansion, adding more stores, services
and entertainment to BarraShopping
for consumers and retailers.
21
SOUTHEAST
For the third
consecutive year,
BarraShopping was
elected Rio de Janeiro
residents’ favorte mall in
a survey by O Globo
newspaper, “Cariocas’
Brands.”
In the “OS MAIS
IMPORTANTES DO
VAREJO”, award (Most
important retail companies) ,
given by the magazine NOVAREJO
and international consulting firm
Accenture, BarraShopping won
in the Consumer Experience –
Shopping Centers /Place to
Shop category.
BarraShopping
A milestone in the development of Rio de Janeiro, it was the
first shopping center located in Barra da Tijuca, contributing
to occupation and growth of the neighborhood that today
is the focus of investment and has the greatest potential
for development.
The Shopping Center was designed to combine entertainment,
food and shopping, all in a single place, offering stadium theaters,
a mega-bookstore, bars, restaurants and a fitness center. Part of
the mixed use complex, it is integrated with BarraShopping by a
corridor of 50 stores.
Location: Rio de Janeiro (RJ)
TECHNICAL OVERVIEW
TECHNICAL OVERVIEW
Opening: 10/27/1981
Total Gross Leasable Area (GLA): 69,224 m2
Multiplan’s Stake: 51.1%
Number of stores: 626
Expansions: 6
Employment: 9,371
Sales in 2012: R$1.6 billion
Traffic in 2012: 26.4 million visits
Consumer profile: 77% classes A and B; 61% women
Opening: 11/04/1999
Multiplan’s Stake: 50%
Employment: 1,389
Sales in 2012: R$209 million
Inaugurated
in 2012
The inauguration of the shopping, in 2012, brings the appreciation
of the west side of Rio de Janeiro to the Campo Grande district.
The development aims to meet the growing demand of local
residents, improving their quality of life.
For leisure, it features seven movie theaters, an indoor park and
an outdoor gourmet area with six restaurants.
Location: Rio de Janeiro-(RJ)
Technical Overview
Opening: 11/28/2012
Employment: 4,375
Sales in 2012: R$50.6 million
Traffic in 2012: 440.2 thousand visits
Consumer profile: classes B and C
It was designed
with a partly built
expansion area, with
approximately 12,200
m² of GLA, for future
development.
22
Inaugurated
in 2012
VillageMall
Focusing on fashion, culture, cuisine and services, VillageMall is
the first luxury mall in the city of Rio de Janeiro. It offers new
international and national brands, a theater with 1,060 seats
intended for large performances, four VIP movie lounges, an event
center with 1,560 m2 and a dining area with a terrace overlooking
the Tijuca Lagoon.
Location: Rio de Janeiro-(RJ)
TECHNICAL OVERVIEW
Opening: 12/03/2012
Employment: 1,030
Traffic in 2012: 135.8 thousand visits
The Shopping Mall
is a solid complement to
the complex composed by
BarraShopping, New York City
Center and Business Center
BarraShopping.
Consumer profile: class A
23
MorumbiShopping
Synonym for pioneering, it was the first development to create
an area exclusively dedicated to fashion, with major national and
international brands, and a culinary center inside a shopping
center. It was also the first to join São Paulo fashion week with
the creation of Morumbi Fashion Brazil. It also broke new ground
by implementing an intelligent parking system that indicates the
location and number of available parking spots.
Location: São Paulo (SP)
TECHNICAL OVERVIEW
Opening: 05/03/1982
Expansions: 5
Employment: 6,993
The shopping mall belongs
to a multi-purpose complex that
includes the Morumbi Office Tower,
MorumbiBusinessCenter and Centro
Professional MorumbiShopping. The
complex also features Morumbi
Corporate, which is currently
under development.
Sales in 2012: R$1.3 billion
1 st place in the ABRASCE 2012 Award in Excellence
in Management for the “Parking Spot Illuminated
Signage” project.
In Consumption, it took the top spot in the Reader’s
Choice Awards from Época magazine 2011|2012.
24
Two operations of Shopping Vila
Olímpia were highligthed in the
publication The Best of São Paulo
from Época São Paulo magazine
2 0 1 2 . I n “C l a ssi c s a nd Tre nd s/
Fun,” the development was named
featuring the best bowling alley in
São Paulo, while the Kinoplex movie
theather was chosen the city’s best.
Located in one of the fastest growing neighborhoods in
São Paulo, close to fashionable areas such as Vila Nova
Conceição, Moema and Itaim, Shopping Vila Olímpia caters to
a demanding and qualified audience. To serve this consumer
profile, the development has a clean and elegant façade and
also wide corridors with special lighting. The mall has a complete
gastronomic center, state-of-the-art bowling lanes and seven
movie theaters, two of them premium.
In the Enjoy Shoppings 2012 guide,
Shopping Vila Olímpia was 6th among
the 56 evaluated and 2nd on the city’s
south side. In cuisine, it was the
2 nd best among all developments
on the south side. Shopping Vila
Olímpia was also highlighted for its
infrastructure, taking the top spot
among south side malls.
TECHNICAL OVERVIEW
Opening: 11/24/2009
Employment: 3,115
25
Acquisition of an
additional 30% stake
in Shopping Vila
Olimpia in 2012.
During the year,
the real estate development
was declared the third best mall
in São Paulo by O Estado de São
Paulo newspaper’s 2012 Guia Divirta-se
Shoppings (shopping mall guide).
Located in the first planned neighborhood in the region, Espaço
Cerâmica, the mall has a fully planned and sustainable area
of 300 thousand m 2. The development’s architectural design
favored the integration of spaces and natural lighting through the
use of glass panels, giving visitors a feeling of being outdoors.
It brings together housing, work, leisure, shopping and services
in its infrastructure.
The guide pointed out that ParkShopping
São Caetano reached the third place in
the overall ranking by the set of flawless
infrastructure, large number of stores,
services offered and entertainment
for children.
Location: São Caetano do Sul – (SP)
TECHNICAL OVERVIEW
Opening: 11/09/2011
Employment: 3,826
Consumer profile: classes A and B
Following Multiplan’s
strategy to develop mixed use
projects, from the start São Caetano
ParkShopping was planned foreseeing
a second stage of development that will
include an additional 13,411 m² and the
construction of four office towers.
26
One of the forerunners of the region in which it is installed, the
Shopping center contributes to the development and valuation
of its surroundings. Shopping Anália Franco is notable for the full
and qualified mix of brands, for the offered services and distinctive
atmosphere. It stands out for holding great events such as
concerts, free exhibitions and fashion shows, consolidating itself
as the best and most sophisticated fashion center and culture of
the east side of São Paulo.
TECHNICAL OVERVIEW
Opening: 11/09/1999
Total Gross Leasable Area (GLA ): 50,427 m2
Expansions: 1
Employment: 3,905
A reference in style
and quality, it was elected
by popular vote in 2012 as
São Paulo’s best shopping
mall according to Época
magazine.
27
RibeirãoShopping
Inaugurated 31 years ago, RibeirãoShopping is more than
a fashion and entertainment hub: is a center of trends across
the region. The first shopping mall of Ribeirão Preto, one of the
state’s most economically important cities and one of the most
developed in the country, is undergoing its 7th and 8th expansions,
which will make it even more comprehensive, attracting a larger
number of customers.
Location: Ribeirão Preto (SP)
TECHNICAL OVERVIEW
Opening: 05/05/1981
Expansions: 6
Employment: 3,687
RibeirãoShopping belongs to a mixed use complex featuring
a hotel, the Business Center Ribeirão Office Tower and the
Professional Center RibeirãoShopping, delivered in 2012.
During 2012 Multiplan announced the expansions VI, VII and VIII.
The delivery of the expansion VI, still in 2012, with 41 new stores
and a deck parking with 1,200 spaces, marks the completion of
the first phase of the master plan for development designed for
the shopping mall, which includes the two expansions announced
(VII and VIII), four high-end luxury apartment buildings, a new
office tower, a residential building with services and a hotel.
28
Designed in a privileged area in downtown Ribeirão Preto, it is
the only vertical mall in the region and features skylights, with
large glass structures to optimize the use of natural light and the
use of energy resources. Since 2008, when it was acquired by
Multiplan, the development underwent a total renovation such as
the reorganization in the mix of shops - arrival of new brands - and
improvements in its architecture and landscaping.
TECHNICAL OVERVIEW
Opening: 09/29/1999
Employment: 1,679
29
Inaugurated
in 2012
JundiaíShopping
Located on the bustling Avenida Nove de Julho, 60 km away from
the São Paulo State capital, the mall caters to both the resident and
the visiting population because of its easy access to neighboring
towns. It offers the region a unique entertainment, services,
shopping and dining infrastructure, with Multiplan quality standard.
Location: Jundiaí (SP)
TECHNICAL OVERVIEW
Opening: 10/18/2012
The project is fully in tune
with Multiplan’s strategy of
creating mixed use complexes.
The project was delivered ready for
a future expansion of approximately
12,500 m2 of GLA and two office
towers integrated into the mall, with
an area of 11,600 m2.
Employment: 3,850
Traffic in 2012: 1 million visits
Consumer profile: classes A and B
30
Carried out by the
Mercado Comum Magazine
(Common Market Magazine), the
Top of Mind award has granted to
BH Shopping, in 2012, the 1st place in
management category.
1st Prize ABRASCE 2012 in the
Excellence in the Management
category, for the program
“Elos - care management in
every detail.”
BH Shopping
The pioneerism and boldness Multiplan is known for can be clearly
seen in BH Shopping center, the first shopping center developed
by the Company and the first in the state of Minas Gerais. Built
in the Belvedere neighborhood, far away from the urban center,
the development bet on the city’s growth in that direction and
ended up making history by contributing to the region’s real estate
development and appreciation.
T h e c l o v e r l e a f i n t e rc h a n g e n e a r t h e s h o p p i n g i n s p i re d
Multiplan’s logo.
Location: Belo Horizonte (MG)
TECHNICAL OVERVIEW
Opening: 09/13/1979
Expansions: 5
Employment: 6,430
Sales in 2012: R$1 billion
31
In 2012, BH Shopping implemented
a new system to identify parking
spaces, improving the customer
experience and promoting fuel
economy and reduced emissions.
DiamondMall
A cozy, exclusive and sophisticated shopping center, located in
one of Belo Horizonte’s most sophisticated regions, DiamondMall
is home to some of the best Brazilian and international brands,
without losing focus on convenience and comfort, with a range of
products and services. DiamondMall has been serving a demanding
consumer profile with its 268 stores, some of them exclusive to
Minas Gerais, six spacious movie theaters featuring state-of-the-art
technology and two food courts. In addition, there is an emporium
selling gourmet food products and a complete gym.
TECHNICAL OVERVIEW
Opening: 11/06/1996
Expansions: 3
Employment: 3,240
32
In 2012, DiamondMall implemented a new system to identify parking spaces, improving the customer experience and
promoting fuel economy and reduced emissions.
Pátio Savassi
The architectural plan for the Pátio Savassi development mimics
a large neighborhood square, with outdoor gathering areas,
gardens, cafés, restaurants and an amphitheater. Acquired by
Multiplan in 2007, the development’s sales and revenue are on the
rise. Planning ahead for future expansion projects, the company
purchased two lots that together add up to over 3,000 m².
TECHNICAL OVERVIEW
Opening: 05/25/2004
Expansions: 1
Employment: 2,048
33
In 2012, Pátio Savassi implemented a new system to identify
parking spaces, improving the customer experience and
promoting fuel economy and reduced emissions.
South
BarraShoppingSul
won the 2011 ICSC Latin
America Shopping Center Golden
award in the “Innovative Design and
BarraShoppingSul
BarraShoppingSul has a modern architectural project, with
large glass structures that make the most of natural lighting. A
reference point in entertainment, it has an indoor video game
center, automated bowling, eight movie theaters, an events center
and a food court featuring a view of the Guaíba River.
Development in a New Project” category.
________________________________________
The award is sponsored by the International
Council of Shopping Centers (ICSC) and
recognizes excellence in marketing, design
and development in the shopping center
industry in Latin America.
Location: Porto Alegre (RS)
TECHNICAL OVERVIEW
Opening: 11/18/2008
Employment: 4,600
Designed following the mixed use concept, the
development includes the Crystal Tower, an office
tower connected to the shopping mall, in addition
to an apartment building, Residénce du Lac, and
another office structure, the Diamond Tower, both
under construction.
34
Next to Barigüi Park, the shopping center’s architectural plan
works in favor of environmental integration through the use of
large windows and structural cut that make the most of the
region’s light, lush vegetation and natural beauty. Attached to the
shopping center there is a 2,400 m2 space for hosting events and
exhibitions of great interest to the public.
Location: Curitiba (PR)
TECHNICAL OVERVIEW
Opening: 11/12/2003
Expansions: 1
Employment: 4,092
1st place in the
ABRASCE Award
2012 in the
Expansion and
Revitalization
category.
35
ParkShopping
A watershed development in the commerce of Brasília, the mall
brought the biggest retail names to the Federal Capital at the
beginning of the 1980’s, providing a new shopping experience.
The ParkShopping Center is considered to be the region’s most
complete and sophisticated shopping center. ParkShopping is
a reference in fashion, entertainment and culture for everyone
living in or passing through Brasilia. It has a large recreation area
and an exclusive gastronomic structure, Espaço Gourmet, which
innovated bringing together five upscale restaurants, four of them
unprecedented in the city.
Location: Brasília (Federal District)
TECHNICAL OVERVIEW
Opening: 11/08/1983
In December 2012, the project
became even more complete with
the opening of ParkShopping Corporate,
a development comprised of two towers for
lease integrated to the shopping mall within
Expansions: 9
the mixed use strategy.
Employment: 4,442
MID-WEST
For more information on
shopping centers, log on to the
Company’s website:
In 2012, the “Jornal of Brasilia” (Brasilia Newspaper), based
on research conducted by the “Instituto Opinião Consultoria”,
handed the Top of Mind award to ParkShopping for being the
development mentioned by 22.5% of respondents in the shopping
centers segment.
36
http://www.multiplan.com.br
MIXED USE REAL
ESTATE PROJECTS
DELIVERED IN 2012
COMMERCIAL REAL ESTATE
PROPERTIES
Part of the Company’s strategy, mixed use real estate projects promote
synergy between the mall operations and Multiplan customers’ needs. In
2012, these projects had a significant positive impact on the Company’s
revenue. Added to projects in the BarraShoppingSul complex - Diamond
Tower and Résidence du Lac - in progress, the mixed use developments
delivered contributed to the increase of 360.5% in revenue from real
estate for sale, totaling R$165 million.
SALE
MorumbiBusinessCenter
Initially developed for lease, Multiplan opted, as a result of a market
opportunity, to sell the development to Oracle do Brasil Sistemas Ltda.
in early 2012. The transaction was closed for R$165 million, equivalent
to R$17.6 thousand / m2, considering a private area of 9,383 m2.
The project consists of one class A office building located in the
MorumbiShopping complex and developed with top technology,
according to LEED green seal certification standards.
SALE
RIBEIRÃOSHOPPING
PROFESSIONAL CENTER
Office tower for sale, interconnected by a covered sidewalk to
RibeirãoShopping, promotes synergy between retail and services; the
Professional Center also has two meeting rooms, cafe with outdoor deck,
fitness center and spa, condominium intranet, internet access in rooms
and common areas, as well as valet parking and 349 parking spaces.
The building has 12.6 thousand m2 of private area and Potential Sales
Value (PSV) of approximately R$83.3 million.
TECHNICAL OVERVIEW
Delivery: January, 2012
TECHNICAL OVERVIEW
Delivery: November, 2012
37
LEASE
Pre-certified with
the LEED seal
Parkshopping Corporate
Two towers for lease, the development was built according
to LEED standards for sustainable practices and on the same
grounds of ParkShopping, being interconnected to the Shopping
by a covered sidewalk.
Location: Brasília (DF)
TECHNICAL OVERVIEW
Delivery: December, 2012
Multiplan’s Share: 50%
During its constrution, the site of ParkShopping Corporate was
considered “impeccable” and an “example of good practices” by
Centro de Tecnologia em Edificações (CTE), a consulting firm that
monitors construction works to see that they meet LEED standards
for sustainable practices.
Mixed use projects provide broad
infrastructure and have become service,
business and leisure hubs in the communities
of the Company’s malls. For more information
on commercial developments, log on to the
Company’s website and click
“Real Estate Development”:
http://www.multiplan.com.br
38
PROJECTS IN PROGRESS
GRI:
1.2
EC2 EN18
In order to mitigate risks, Multiplan’s policy is to study and analyze the dimensions and possibilities involved in the
development of its projects. It is the Company’s management principle to maintain relationship with the leaders of the
locations for the development of shopping centers and real estate projects, as well as to meet the potential needs of the
surrounding communities.
SHOPPING CENTER
Multiplan’s first mall in northeastern Brazil, its construction generates
about 2,400 jobs and its delivery should create another 3,600 jobs.
The inauguration is scheduled for the fourth quarter of 2013.
Located in an important area of growth in Maceió, Parque Shopping
Maceió will provide 168 stores, movie theaters, a large food court,
restaurants and 1,800 parking spaces.
Aligned with the strategy of the Company, it will be integrated to
Boulevard Parque, a planned mixed use project featuring residential
and commercial towers and a green area.
At the end of 2012, 81% of the mall’s Gross Leasable Area had
been leased.
Location: Maceió (AL)
Inauguration date: 4th quarter 2013
Floors: 3
Parking: 1,800 spaces
39
COMMERCIAL REAL
ESTATE PROPERTIES
SALES
.a
Diamond Tower
.a
Commercial Development part of the BarraShoppingSul complex,
Diamond Tower is guided by convenience and functionality.
The project offers two meeting rooms, seven elevators - one exclusive
service elevator - and a separate underground garage. Moreover, it has
a privileged view of the Guaiba River.
At the end of 2012, 84% of commercial units were already sold.
.b
Delivery: 2nd half 2014
SALES
RESIDENTIAL REAL
ESTATE PROJECTS
.b
Résidence du Lac
The project is part of the BarraShoppingSul complex and will offer to
the neighborhood quality of life by combining housing, work, services,
shopping and leisure.
Delivery: 2nd half 2014
The apartments and studios will have barbecue grills, one or two
covered parking spaces, and a view of the Guaíba River.
At the end of 2012, 84% of units were already sold.
40
.a
LEASE
Morumbi Corporate
Part of Multiplan’s mixed use strategy, Morumbi Corporate
interconnects to the MorumbiShopping complex with two upscale
towers – with 18 and 26 floors - for lease.
Morumbi Corporate has already received Gold pre-certification from
the Green Building Council Brazil, a non-governmental institution
that works to promote eco-efficiency in buildings worldwide.
In an advanced stage of construction, its inauguration is scheduled
for the second quarter of 2013 and will add 74.2 thousand m2 to
the complex which it is a part of.
Delivery: 2
nd
half 2013
BarraShopping Office
.a Morumbi Corporate
.a
In precertification
process for the
LEED seal
.b BarraShopping Office
.b
Strengthening the Company’s strategy, BarraShopping Office is part
of the seventh expansion of the mall and will add two office floors
for lease that will integrate the complex with a total of 4,000 m².
Delivery: May, 2014
Multiplan’s Share: 51.1%
41
LANDBANK
2012 Landbank Inventory
Location
City (State)
Land Area
Type
% Multiplan
Belo Horizonte (MG)
2,606 m²
Commercial
97%
Curitiba (PR)
843 m²
Apart-Hotel
84%
Curitiba (PR)
27,370 m²
Commercial
94%
JundiaíShopping
Jundiaí (SP)
4,500 m²
Commercial
100%
Maceió (AL)
140,000 m²
Residential, Commercial,
Hotel
50%
BarraShoppingSul
Porto Alegre (RS)
4,396 m²
Hotel, Commercial
100%
RibeirãoShopping
Ribeirão Preto (SP)
207,092 m²
Residential, Commercial
100%
Rio de Janeiro (RJ)
141,480 m²
Residential, Commercial
90%
VillageMall
Rio de Janeiro (RJ)
36,000 m²
Commercial
100%
São Caetano do Sul (SP)
24,948 m²
Commercial
100%
São Paulo (SP)
29,800 m²
Residential
36%
Pátio Savassi
The maintenance of a landbank is part of Multiplan’s growth strategy, as
it allows the Company to prepare for future expansions or development
of mixed use real estate projects.
The purchase of the properties around the shopping centers, for
example, is done in advance whenever possible, simultaneously with
the development of the shopping center. Thus, Multiplan seeks to
provide better return on investment, since the implementation areas
appreciate after the developments, raising m2 prices.
TOTAL
42
619,035 m²
82%
.03 STRATEGY
AND COMPETITIVE ADVANTAGES
MorumbiShopping (SP)
43
.03 STRATEGY AND
COMPETITIVE ADVANTAGES
PEOPLE, PROCESSES AND
TECHNOLOGY
OPERATIONS EXPANSION
ESTRATÉGIA
Expanding operations in real estate
developments is one of the objectives of the
Company. The mixed-use standard prioritizes
areas in the surroundings of its shopping
malls and focuses on the development and
the enhancement of the regions in which
Multiplan operates.
The Company is committed to selecting,
training and retaining professionals that meet
the needs of each office. It is part of the Multiplan’s
strategy to add to the team of collaborators modern
information systems to ensure the best customer service.
Investing in technology is an essential point of its strategy to
the extent that tools and management systems enhance the
quality of the stakeholders’ experience.
The tools and management systems of the Company
(ERP – Enterprise Resource Planning – SAP) are
integrated to the shopping malls.
OPPORTUNITIES
Focused on regions with economic
growth potential, population density and
expressive income levels, Multiplan bases
its decisions on its expertise in identifying
markets and locations for development, in order
to take advantage of investment opportunities
in the shopping center industry, the expansion
of its assets, acquisition of additional interests
in its projects, developing new ventures and
acquisition of shopping centers from third
parties.
INCREASED RETURNS
AND FINANCIAL DISCIPLINE
Multiplan adopts a policy of planning and
control at all levels of the Company to
reduce costs, expand existing business
opportunities, make the best use of its assets
and mitigate risks with the aim of selecting
the best opportunities related to its
strategic objectives.
STRATEGY
GROWTH WITH
SUSTAINABILITY
MAINTAINING THE QUALITY OF
THE CURRENT PORTFOLIO
MAXIMIZE THE INVESTMENT
MADE BY SHAREHOLDERS
GRI:
44
1.2
EXPERIENCED
MANAGEMENT
The administrative framework
is part of the success of the
company. The expertise and
involvement of executives
makes business flexible
and allows the anticipation
of solutions in dynamic and
competitive scenarios.
STRATEGIC
PARTNERSHIP
Multiplan has a history of
successful partnerships. It has
as partner the largest pension
fund in the country, PREVI,
besides having local investors
as FUNCEF and Fapes and
international partners.
GRI:
A FULL SERVICE
COMPANY
1.2
The Company operates an
integrated business model in
all stages of development and
operation of shopping centers,
developing synergy, productivity
and speed with a global vision of
the business and opportunities.
COMPETITIVE
ADVANTAGES
POSITIONING
GROWTH POTENTIAL
INNOVATIVE VISION
Given the low level of GLA per
capita, the development of
new projects and expansions
consolidates Multiplan among
industry leaders.
The consolidated assets, the
operational know-how and
experience in the development
and execution of projects
broaden perspectives for growth.
The Company is always seeking
new business opportunities in
new markets.
BH Shopping, BarraShopping
and RibeirãoShopping brought
economic development to areas
in which they are implemented.
STRONG BRAND
AND COMMERCIAL
RELATIONSHIP
The widespread recognition and
consolidation of the Multiplan
brand facilitates conducting
business, a wide network of
shops and a good relationship
with tenants.
PORTFOLIO
In addition to being strategically
located and serving all social
classes, Multiplan shopping
centers have a tenant mix
focused on the consumption
pattern of the regions where they
are located.
SHOPPING CENTER
MANAGEMENT
The majority interest in most
of its 17 shopping malls allows
ample flexibility in the operation –
expansion and renovation.
45
.04 CORPORATE GOVERNANCE
ParkShopping (DF)
46
.04 CORPORATE
GOVERNANCE
GOVERNANCE MODEL
GRI:
4.1
4.3
Multiplan runs the business with a commitment to accountability,
transparency, fair ness and corporate responsibility. The
Company’s Corporate Governance model was prepared based
on the Best Corporate Governance Practices, published by
the Brazilian Corporate Governance Institute (IBGC), and aims
to ensure practices, policies and principles aligned with best
practices adopted in Brazil.
47
MULTIPLAN’S
CORPORATE
GOVERNANCE
PRINCIPLES AND
PRACTICES
Shareholders
agreement disclosed
to all Multiplan
stakeholders
Results reports
with transparent,
broad and simultaneous
disclosure to the public
Guided by this gover nance model, the Company’s
shares are traded on the BM&FBovespa’s Level 2 of
Corporate Gover nance for companies with good
governance practices.
D e s p i t e b e i n g l i s t e d a t L e v e l 2 , M u l t i p l a n ’s
Bylaws meet the requirements of the Novo
Mercado, the highest level of gover nance
practices. The limitation restricting the
Company’s listing on the Novo Mercado is the
existence of preferred shares and an indelible
clause. However, the companies that were
already listed on the Novo Mercado and had the
indelible clause continued in that category.
Meetings
at times and
locations that allow
the attendance of the
largest possible number of
shareholders who receive
advance information on
the issues, being granted
voting rights to all
Company’s shares
Transparency
W ith respect to the preferred shares issued by the
C o m p a n y, t h e y a re w h o l l y o w n e d b y t h e O n t a r i o
Teachers’ Pension Plan (OTTP) fund.
In this scenario, the adequacy of its Bylaws to the Novo
Mercado reflects a management model fully aligned with
best practices.
Balance Sheets and
Financial Statements
verified by independent
auditors
Disclosure
Policy on material
information to
prevent access to
and use of confidential
information
48
Resolution of
potential conflicts of
interest through
arbitration as provided
in the bylaws.
Statutory definition about
the general meetings call,
the powers of the Board of
Directors and Executive Board
and the voting, election,
removal and terms of office
system of board members.
Participation of at least
20% of independent
members in the Board
of Directors, as per
BM&FBOVESPA rules.
Value creation and
Company interest
protection
Composition of Board
of Directors by members
experienced in business
operations and financial
management.
49
Pulverization of
Company shares
(free float), aiming
at liquidity.
Right to sell
their shares under
the same conditions
guaranteed to the Selling
Controlling Shareholder, in case
of sale, directly or indirectly, in
return for payment, of its control,
either through a single transaction
or through successive operations
(100% price tag along).
Entitled to
full payment of
dividends and other
earnings of any nature
that may be declared
by the Company.
Right to the minimum
mandatory dividend, in
each fiscal year, equivalent
to 25% of adjusted net
income in accordance
with Article 202 of the
Corporation Law.
To consult the BM&FBovespa rules of Corporate
Governance Level 2 and Novo Mercado, please
go to:
50
Creating
value for
shareholders
www.bmfbovespa.com.br
MANAGEMENT
GRI:
4.1
4.2
4.3
4.5
4.7
4.9
The Company’s management is led by experienced and qualified
professionals, with an average of over 20 years of experience in
the shopping center and real estate segments.
BOARD
OF DIRECTORS
The Board of Directors of Multiplan is composed of at least
five and no more than ten members, residents of Brazil or not,
elected by the General Meeting for a term of two years with
re-election permitted.
The key responsibilities of the Board Members are: to define
the policies and strategies of the Company, monitor their
implementation, the election and removal of Officers and the
removal or replacement of independent auditors.
Regularly, the Board of Directors meets once every three months;
however, meetings may be called by the Chairman of the Board
whenever necessary. In 2012, the Board Members of Multiplan
met 11 times.
Multiplan Board of Directors
Member
Position
Election date
End of term
JOSÉ ISAAC PERES
Chairman
04/30/2012
04/30/2014
EDUARDO KAMINITZ PERES
Member
04/30/2012
04/30/2014
JOHN M. SULLIVAN
Member
04/30/2012
04/30/2014
RUSSELL T. GOIN
Member
04/30/2012
04/30/2014
MANOEL JOAQUIM R. MENDES
Member
04/30/2012
04/30/2014
JOSÉ CARLOS DE A. S. BARATA
Independent Member
04/30/2012
04/30/2014
Member
08/14/2012
04/30/2014
JOSÉ PAULO FERRAZ DO AMARAL
51
Member Profiles
Born in July 18, 1940,
Mr. Peres is graduated in
Economics, participated
in and implemented more
than 350 real estate
projects with 35 thousand
units sold.
Pioneer and founder of
Multiplan, Abrasce (Brazilian
Association of Shopping
Centers), and Ademi
(Association of Real Estate
Administrators).
JOSÉ ISAAC
PERES
Born in August 15, 1970,
he studied Business
Administration and joined
the Company in 1988,
where he has held various
positions in his 24 years in
Multiplan.
Responsible for creating
CAA Merchandising.
EDUARDO
KAMINITZ PERES
Mr. Sullivan graduated in
Civil Engineering, joined
Cadillac Fairview in 1998,
where he performed the
duties of Senior Vice
President of Development,
Executive Vice President
of Development, and in
2011, took over as Chief
Executive Officer.
JOHN M.
SULLIVAN
Born in October 23,
1970, graduated in Civil
Engineering, was Vice
President of Goldman
Sachs & Co between 2004
and 2008.
Joined Cadillac Fairview in
2008 and performed the
duties of Vice President
of Investments and
Senior Vice President
of Investments and
Executive Vice President of
Investments since 2012.
RUSSELL
T. GOIN
MANOEL
JOAQUIM R.
MENDES
Born in September 2nd,
1937, he graduated in Civil
Engineering, worked for
Veplan and later on, for IodBauen as technical director.
Joined Multiplan in
1976 and is currently
responsible for coordinating
engineering, projects and
planning areas.
JOSÉ CARLOS
A. S. BARATA
Born in April 24, 1940,
Mr. Barata graduated
in Civil Engineering,
worked as Chief Financial
Officer at Furnas, and
held the CEO position of
Bozano, Simonsen and as
Chairman/CEO of BSCC
and agricultural companies
of Grupo Bozano.
Held the position of Director
for various companies of
Grupo Bozano and joined
Multiplan in 2007.
52
JOSÉ
PAULO FERRAZ
DO AMARAL
Born in February 6,
1944, works as Business
administrator, he served
as Director of Department
Stores. In Lojas
Americanas, he served as
Managing Director, and
actively participated in
the establishment of the
society created between
the company and Walmart.
In partnership with Banco
Pactual, he worked in the
recovery of Mesbla.
BOARD OF EXECUTIVE OFFICERS
Multiplan’s Board of Executive Officers consists of a Chief Executive Officer, three Vice
Presidents and up to six Officers without specific designation. One of the members of the
Executive Board shall act as Investor Relations Officer. It is incumbent upon the Executive
Board to carry out all acts necessary for the achievement the corporate purpose, complying
with legal and statutory provisions, and determinations of the General Meeting and of the
Board of Directors.
The Executive Board members are elected by the Board of Directors for a term of two years
with re-election and removal allowed at any time.
Officer Profiles
Multiplan’s Board of Executive Officers
Member
Position
Election date
End of term
JOSÉ ISAAC PERES
Chief Executive Officer
04/30/2012
04/30/2014
EDUARDO KAMINITZ
PERES
Vice Chief Executive Officer
04/30/2012
04/30/2014
ARMANDO D’ALMEIDA
NETO
Vice Chief Executive Officer / Investor
Relations Officer
04/30/2012
04/30/2014
MARCELLO KAMINITZ
BARNES
Vice Chief Executive Officer
04/30/2012
04/30/2014
Officer without specific designation
04/30/2012
04/30/2014
ALBERTO JOSÉ DOS SANTOS
ARMANDO
D’ ALMEIDA
NETO
ALBERTO JOSÉ
DOS SANTOS
Born in June 18, 1962,
he graduated in Business
Administration, has more
than 25 years of experience
in the financial markets.
Mr. Santos graduated in
Accounting, and he is
Director of Administration
of Multiplan since 2007.
He is a former director of
Bulltick Brasil Consultoria;
member of the Executive
Committee of Bulltick
Capital Markets, director
of Santander Investment
Securities and director of
Banco Bozano.
He is responsible
for the accounting,
administrative, information
technology and human
resources departments.
Joined Multiplan in 2012.
MARCELLO
KAMINITZ
BARNES
Born in March 4, 1967,
he graduated in Civil
Engineering, joined the
Company in 1990, when
he worked as engineer
of Multiplan’s expansion
works. Later, he worked on
the operation management
of BarraShopping.
Responsible for developing
the Multiplan projects in
Miami, United States.
He is currently
responsible for real estate
and the development of
new businesses.
*The resumes of Mr. Jose Isaac Peres and Eduardo Kaminitz Peres are in the organizational chart above,
referring to the Board of Directors, in which both are sitting Officers.
53
COMPENSATION
RISK MANAGEMENT
GRI:
In order to attract and retain professionals with the profile
and capabilities to meet its needs, Multiplan defines the
compensation of its executives (Executive Officers and Board)
by the following indicators: necessary knowledge, complexity
of activities and expected results for each position.
The benefits of the main executives of the Company are
monthly compensation, an annual bonus and a Multiplan stock
option program.
4.1 4.11
In all areas of operation and business planning, Multiplan is attentive
to the prevention and mitigation of major risks of its business. For this,
it has skilled professionals and modern management systems which
identify potential critical points and develop action plans to control
them, minimizing impacts and providing possible solutions.
In both shopping centers in operation and on projects under
development, specialized teams continually assess technical and
security risks. In the first case, situations such as fires, leaks and
damaged equipment, among others, receive technical monitoring to
mitigate risks with a strict schedule of inspections and maintenance
of the Multiplan’s facilities.
In relation to security risks, the measures of the Company are focused
on best practices in Occupational Safety and Health (OSH) for constant
monitoring of its malls through cameras and security professionals,
in addition to the use of materials and construction techniques and
proper maintenance to prevent injury to mall visitors.
54
.05 OPERATING AND FINANCIAL PERFORMANCE
JundiaíShopping (SP)
55
In 2012, Multiplan’s proprietary GLA increased 28.3%, reaching 528.1 thousand m2.
OPERATING
AND FINANCIAL
PERFORMANCE
(000 m2)
+38.1
A sharp increase
in proprietary
GLA delivered
in 2012...
116.5
411.7
Proprietary GLA growth: +28.3%
2011
Shopping Vila
Olímpia*
JundiaíShopping
ParkShopping
Campo Grande
SSS / m2 (year)
EC9
HIGHLIGHTS
OF THE YEAR
VillageMall
2012
RibeirãoShopping ParkShopping
expansion VI
Corporate
*Acquisition of an additional 30.0% stake.
Starting from a strong foundation per m2, SSS and SSR
grew more than 50% over 2007
GRI:
528.1
+34.5
+8.5
411.7
+6.7
+3.1
+25.5
... combined with
a robust
operational
performance
and efficiency
gains...
6.7% decrease in expenses with headquarters in the
4th quarter of 2012: - 330 bp as % of net sales
SSR / m2 (month)
50.2%
54.2%
17,340 R$ / m2
11,545 R$ / m2
6.7%
106 R$ / m2
25.7 M
69 R$ / m2
25.6 M
13.2%
21.2 M
24.0 M
14.2%
11.0%
9.9%
7.9%
2007
2012
2007
2012
2012 EBITDA per share * 35.1% higher and
5-year CAGR of 19.2%
3.45
4Q11
1Q12
1.44
2007
1.67
1.71
2008
2009
2.06
1.96
1.35
2010
2011
2Q12
2012
EBITDA per share (per year)
3Q12
4Q12
FFO in 2012 per share 24.0% higher and
5-year CAGR of 16.4%
2.89
2.56
... result in a
systematic strong
cash generation
29.2 M
2007
1.61
1.54
2008
2009
2010
2.33
2011
2012
FFO per share (per year)
* Free float = (Shares issued - Treasury) at the end of each year
Performance Highlights
56
Shopping Mall
Sales
Lease
Revenue
NOI + KM
EBITDA
Net
Income
2012 (R$)
9,722.7 M
561.9 M
644.7 M
615.8 M
388.1 M
2012 vs. 2011
+14.9%
+15.6%
+17.2%
+35.2%
+30.1%
DELIVERIES AND
FUTURE GROWTH
• Projects delivered on time and according to plan: Three new malls
(JundiaíShopping, ParkShoppingCampoGrande and VillageMall), a
corporate complex with two towers for lease (ParkShopping Corporate)
and one expansion (RibeirãoShopping VI) that added 108 thousand m2
of GLA in 4Q12. Including the acquisition of an additional 30.0% stake
in Shopping Vila Olimpia, proprietary GLA increased 28.3% over 2011.
Multiplan also delivered two office towers for sale (RibeirãoShopping
Professional Center and MorumbiBusinessCenter).
FINANCIAL AND
OPERATING HIGHLIGHTS
• Future growth: Multiplan shopping centers presented total sales
of R$9.7 billion in 2012, 14.9% higher than in 2011. Coupled with
the continued increase in sales in the consolidated malls, recently
opened malls can leverage the sales growth of the Company in the
coming years;
• Robust growth on top of an already strong foundation: Same Store
Sales (SSS) reached R$17,340/m 2 in 2012, resulting in a CAGR
of 8.5% over the past five years. SSS growth was 8.4% in 2012,
80 bps higher than in 2011, while Same Area Sales (SAS) reached
8.9%, highlighting the intensive management of the malls;
• Increase of 54.2% in Same Store Rent (SSR) to R$106/m 2 per
month in 2012, versus R$69/m2 per month in 2007, resulting in a
CAGR of 9.0% over the past five years;
• SSR increased 10.4% in 2012 compared to the previous year,
representing real growth of 3.7%, while the SAR increased 8.2%
and the adjustment effect to the IGP-DI and the IPCA reached 6.4%
and 5.8%, respectively;
• 17.2% increase in Net Operating Income (NOI) + Key Money (KM) to
R$644.7 million in 2012. The NOI + KM per share reached R$3.62
in 2012, representing a five year CAGR of 18.3%;
• Consolidated EBITDA increased 35.2% in 2012, as compared to
2011, amounting to R$615.8 million;
• Strong growth in Net Income of 30.1% in 2012, totaling
R$388.1 million, despite the increase in leverage.
• Drop on FFO (Net Income and Funds From Operations) per share for
the year, reaching R$2.89, indicating a five year CAGR of 16.4%;and
• Multiplan announced the payment of interest on equity, in December
2012, of R$125.0 million before taxes, representing 33.9% of net
income reported in 2012 after deducting legal reserves.
57
OPERATIONAL INDICATORS
When comparing the same basis, the Same Area Sales (SAS) in 2012,
remained in line with the previous year, growing 8.9% in the period, and
Same Store Sales (SSS) increased by 8.4%. This last indicator has
been growing consistently over an already high base, and in the year,
reached R$17,340/m2, which corresponds to an increase of 50.2%,
when compared to 2007 data and CAGR of 8.5%.
TENANT SALES
In 2012, Multiplan posted total sales of R$9.7 billion in its malls,
14.9% higher than last year. Coupled with the continued increase
in sales in the consolidated malls, the recently malls opened,
representing 14.7% of total GLA, should leverage the sales growth
of the Company in the coming years.
In December of 2012, total sales per month per occupied m2 for
Multiplan’s portfolio, excluding the three new malls opened in 4Q12,
reached R$2,702/m2, while the three new malls altogether resulted in
R$1,657/m2, composed by R$2,485/m2 in VillageMall, R$1,657/m2 in
ParkShopping Campo Grande and R$1,326/m2 in JundiaíShopping.
This difference shows the future growth potential of the portfolio going
forward.
Shopping Centers Sales (M)
Sales highlights of the year were stores
with less than a thousand m 2 in operation
in 2011 and 2012, up 10.5% to sales of
R$25,242/m 2. Stores of up to 200 m 2 also
performed well, growing 12.4% in the period
to R$27,899/m2.
14.9%
9,722.7M
8,464.7M
Shopping Mall Sales
(100%)
2012
2011
Var. %
1,008.8 M
913.2 M
10.5%
569.7 M
507.4 M
12.3%
BarraShopping
1,627.4 M
1,509.7 M
7.8%
MorumbiShopping
1,303.6 M
1,235.2 M
5.5%
ParkShopping
882.2 M
815.0 M
8.2%
DiamondMall
509.5 M
454.5 M
12.1%
209.0 M
196.4 M
6.4%
829.0 M
774.6 M
7.0%
758.5 M
678.6 M
11.8%
Pátio Savassi
331.5 M
308.8 M
7.4%
164.0 M
137.0 M
19.7%
BarraShoppingSul
650.8 M
572.3 M
13.7%
302.7 M
282.1 M
7.3%
ParkShopping São Caetano1
418.5 M
80.0 M
422.8%
JundiaíShopping2
80.4 M
n.a
ParkShopping Campo Grande3
50.6 M
n.a
VillageMall4
26.7 M
n.a
BHShopping
RibeirãoShopping
Total
9,722.7 M
8,464.7 M
Multiplan’s three new shopping
centers – JundiaíShopping,
and VillageMall – together with
RibeirãoShopping Expansion VI,
delivered in the fourth quarter,
contributed with R$169.7 million
in sales with less than 45 days
in operation.
58
2012
CAGR* 2007/2012: +8.5%
+50.2%
17,340 R$/m2
11,545 R$/m2
2007
2012
Evolution of R$/m2
*Compound annual growth rate
14.9%
Note: sales do not consider Revenue from BarraShopping Medical Center
1
2011
Opened in November, 2011 / 2 – Opened in October, 2012 / 3 – Opened in November, 2012 / 4 – Opened in December, 2012
1
Ratio between sales in the same area as compared to the previous year, excluding vacancies
2
Sales of stores in operation for more than one year
3
Compound Annual Growth Rate (CAGR): Corresponds to the average growth on a yearly base.
OCCUPANCY RATE
The average occupancy rate for 4Q12 was 98.1%, 10 bps higher than
at the end of the previous year. This growth is even more relevant
if we consider the impact of the opening of three new malls and
one expansion, which typically have a lower occupancy rate when
compared to consolidated malls. This is mainly due to the improvement
in the occupancy rate of 930 bps in ParkShoppingSãoCaetano, that
reached 99.6% and an increase in Shopping Vila Olimpia of 340 bps,
totaling 90.4%.
SALES BY SEGMENT
All retail segments showed strong performance in Multiplan shopping
centers in 2012. The main highlights were Services and Food and
gourmet areas, which reported double-digit growth of 13.4% and
10.5%, respectively.
Occupancy cost, on the other hand, presented a result aligned to
2011, recording a total of 13%. The turnover also remained at the
same level from previous year: 5.2%.
Throughout the year, the growth in same store sales of satellite stores
was stronger compared to the anchor stores. The former showed an
increase of 10%, while the anchors presented 4% growth.
Multiplan shopping center tenants’ delinquency rate (lease payment
overdue more than 25 days) reached 1.7% versus 1.5% in 2011. Rent
loss, on the other hand, dropped 90 bps during the same period,
reaching 0.4%.
Satellite stores
Anchor stores
Occupancy cost
Turnover
14.9%
10.5%
9.2%
9.0%
13.1%
9.3%
11.9%
8.3%
6.3%
5.2%
2.4%
1Q12
5.3%
6.0%
13.0%
13.0%
5.2%
5.2%
3.9%
2.3%
2Q12
11.4%
6.1%
5.2%
4Q11
The solid occupancy
indicators in 2012 show the
strong demand for space at
Multiplan’s shopping centers
and indicate the Company’s
growth potential.
3Q12
4Q12
2007
2008
2009
2010
2011
2012
SSS satellite stores versus anchor stores
Delinquency
Rent loss
2012 x 2011
Same Store Sales
Anchors
Satellites
Total
Clothing
3.9%
9.4%
8.1%
Home and Office Items
5.1%
5.3%
5.2%
Miscellaneous items
1.4%
11.5%
8.2%
n.a.
10.5%
10.5%
Food and gourmet area
Services
9.2%
13.4%
13.3%
Total
4.0%
10.0%
8.4%
5.4%
0.7%
3.8%
0.9%
0.9%
3.1%
0.9%
1.5%
1.3%
2007
59
3.6%
2008
2009
2010
2011
1.7%
0.4%
2012
GROSS REVENUE
In 2012, gross revenue totaled R$1,048 million, representing a strong
growth of 41.2% as compared to 2011. The main drivers of this
performance were lease revenues, with 53.6% of the total, followed by
the result of real estate for sale, with 21.7%, and parking, with 10.1%.
21.7%
10.1%
3.6%
53.6%
+15.6%
87.3%
9.4%
4.8%
7.9%
1.4%
742.2M
Rental Revenue
Base rent
Real estate Sale
Merchandising
Parking Revenue
Overage
75.7M
+19.5%
16.1M
-3.3%
+28.4%
1.3M
+360.5%
+1,728.8%
+2.3%
178.1M
13.9M
0.1M
Real estate
Sale
Straight line
effect
Other
+41.2%
1,048.0M
23.3M
+41.2%
Key Money
Services
Straight line effect
Gross Revenue breakdown – 2012
60
Gross Revenue
2011
Store Lease
Services
Key Money
Parking
Gross Revenue
2012
Gross Revenue breakdown – 2012 (A/A) (R$)
PROPRIETARY SHOPPING
CENTER RESULTS
RENTAL REVENUE
+16.9%
In 2012, rental revenue increased 15.6% totaling R$561.9 million, with
emphasis on the overage increase by 18.4% to R$27.1 million, and the
base rent, up 16.9% to R$490.3 million.
487.1M
+18.4%
+1.1%
+1,728.8%
+18.4%
1.4M
2.0M
14.8M
576.6M
Merchandising
Straight line effect1
Lease Revenue
2012
24.4M
Another highlight was Shopping Santa Ursula that continued presenting
a strong performance in lease revenue, reporting an increase of
13.5% when compared to 2011. This strong performance was driven
primarily by overage, increased by 187.9% in the 4Q12 and 4Q11
comparison, signaling a potential increase in base rent in coming years.
BarraShoppingSul, which completed four years in operation, showed
an increase in lease revenue of 10.3%, accounting for 8.3% of the total
lease revenue of the Company.
Considering the straight line effect 1, the total lease revenue reached
R$576.6 million, an increase of 18.4% as compared to 2011.
+18.4%
Lease Revenue
2011
Base rent
Overage2
Lease revenue growth breakdown – 2012 (A/A) (R$)
From these results, the Same Store Rent (SSR2) grew by 10.4% and Same Area Rent (SAR3) by 8.2% in 2012, and the effect of the adjustment
of the IGP -DI was 6.4%.
1
Accounting method seeking to exclude volatility and seasonality of lease
revenues. Recognition of lease revenue, including seasonal leases and contractual
readjustments as applicable is based on a linearization of revenue during the term of
the contract regardless of the term for receipt.
2
Variation in leasing billed to stores in operations in the periods compared.
3
Ratio between leasing billed in the same area in the previous and current years,
excluding vacancy.
61
NET
OPERATING
INCOME - NOI + KM
SHOPPING CENTER
EXPENSES
Shopping center expenses totaled R$75.1 million, an increase of
28.9% over 2011, primarily due to nonrecurring gains recognized in
the previous year and to the expansion of the Company’s portfolio and
proprietary GLA.
Considering the whole year of 2012, NOI + Key Money (KM) increased
17.2% as compared to 2011, reaching R$644.7 million. NOI + KM per
share reached R$3.62, implying a five-year CAGR of 18.3%.
75.1M
61.8M
46.9M
65.9M
49.7M
+17.2%
58.3M
550.0M
14.7%
12.2%
2007
2008
13.1%
2009
90.4%
12.0%
2010
9.2%
10.0%
2011
2012
In 2012, parking revenue totaled R$105.3 million, an increase of 28.4%
over 2011. Together with the organic growth, the recently inaugurated
malls - JundiaíShopping, ParkShopping Campo Grande and VillageMall
- contributed to this performance by adding 6.7 thousand new parking
spots, increasing the portfolio’s figure to 45.2 thousand.
Excluding the nonrecurring events, such expenses would have
increased by 13.8%. As a percentage of net revenues, shopping center
expenses reached 10.0% in 2012, a level significantly lower than the
historical average.
2012
NOI + Key Money and margin
(2012/2011) – (R$)
NOI Calculation (R$)
2012
2011
Lease revenue
561.9 M
486.3 M
Straight line effect
14.7 M
0.8 M
1,728.8%
Parking revenue
105.3 M
82.1 M
28.4%
Operating income
682.0 M
569.1 M
19.8%
Shopping center
expenses
(75.1 M)
(58.3 M)
28.9%
NOI
606.9 M
510.8 M
18.8%
NOI margin
89.0%
89.8%
78 p.b.
Key Money
37.8 M
39.1 M
3.3%
NOI + CD
644.7 M
550.0 M
17.2%
89.6%
90.4%
86 p.b.
NOI margin + CD
62
89.6%
2011
Shopping center expenses evolution (R$) and as a
percentage from shopping center net revenue (tax
and revenue from property sales are not included)
PARKING REVENUE
644.7M
Var. %
15.6%
SHOPPING
CENTER
MANAGEMENT
RESULTS
SERVICES REVENUES
As a result of the 24.0% increase in shopping center management
fees and 31.4% transfer fees, the year ended with services revenue
19.5% higher than in 2011, reaching a new historical record of R$98.4
million.
+19.5%
98.4M
0.94 x
2007
0.83 x
2008
2009
0.78 x
2010
2011
2012
Annual services revenue/headquarters expenses (x)
82.3M
2011
0.93 x
0.84 x
1.00 x
0.98 x
2012
In 2012, the Company reported services revenue equivalent to 98.5%
of the expenses with headquarters, representing a significant increase
compared to previous years, and 532 bps higher than in 2011.
Services revenue (R$ Million)
63
GENERAL AND
ADMINISTRATIVE EXPENSES
(HEADQUARTERS)
In 2012, corporate expenses as a proportion of net revenue fell 268
bps going from 13.1% to 10.4%, reaching R$99.9 million, 13% higher
than in 2011.
Nonrecurring expenses reached R$12.8 million at the end of 2012,
up R$4.5 million. The increase is mainly due to legal and provisions
expenses. Excluding the impact of these nonrecurring items, expenses
increased 3.9% when compared with the previous year, a result below
the IPCA of 5.8% in 2012.
+13.0%
79.1M
88.2M
93.1M
99.9M
88.4M
83.9M
55.9M
19.2%
16.6%
2007
2008
18.3%
2009
15.4%
2010
Annual headquarter expenses evolution (R$)
and as % on net revenue (%)
64
+13.0%
+3.9%
88.4M
87.1M
12.4%
13.1%
2011
9.1%
10.4%
2012
2011
2012
Recurring headquarter expenses evolution (R$)
12.8M
13.1%
10.4%
4.5M
2011
2012
Nonrecurring items (R$)
99.9M
2011
2012
Headquarter expenses evolution (R$)
SHOPPING CENTER
DEVELOPMENT RESULTS
DEFERRED
INCOME LINE &
SIGNED KEY MONEY
The deferred income line dropped from R$196.6 million in December
2011 to R$116.7 million at the end of 2012, mainly due to: (i) accrual
of key money revenues after the openings of JundiaíShopping,
ParkShopping Campo Grande and VillageMall; (ii) lower volume of
new lease contracts signed in 2012, given that most of the available
area in the new shopping centers has already been leased; (iii) impact
of deferred costs from investments in commercial areas; and (iv) the
buyback of leased spaces to be used in mix changes.
The deferred income balance is recognized as Key Money revenue in
a straight line and throughout the leasing term (usually 5 years), after
the store’s lease contract becomes effective.
65
NEW PROJECTS
FOR LEASE EXPENSES
KEY MONEY
REVENUE
Key Money revenue decreased 3.3% in 2012, from R$39.1 million in
2011 to R$37.8 million. Key Money revenue is composed of (i) recurring
or operational revenue, from Key Money accrued from areas with
more than five years in operation, and reflects the Company’s effort
to improve the tenant mix1 in its malls, and (ii) nonrecurring revenue,
from Key Money of lease contracts for new stores in greenfields2 and
expansions delivered in the last five years.
Key Money
Revenue (R$)
2011
2012
Var. %
Operating (Recurring)
7,8 M
6,1 M
-21,4%
Projects opened from
the past five years
31,4 M
31,7 M
1,2%
Key Money Revenue
39,1 M
37,8 M
-3,3%
1
Strategic tenant mix of stores established by mall management.
2
Development of new shopping centers.
New projects for lease expenses reached R$33.4 million in 2012,
from R$12.2 million in the previous year, mainly due to (i) delivery
of JundiaíShopping, ParkShopping Campo Grande, VillageMall
and expansion VI of RibeirãoShopping; and (ii) investments in three
expansions under development, RibeirãoShopping (VII and VIII) and
BarraShopping. As mentioned in previous earnings releases, these
expenses are incurred mainly in the launching and opening of projects
and are an important tool to implement the Company’s strategy to
attract the best tenants and create the ideal mix for each mall to attract
clients during its first years of consolidation.
REAL ESTATE
FOR SALE
RESULTS
FINANCIAL
RESULTS
REAL ESTATE FOR SALE
REVENUES AND COST
OF PROPERTIES SOLD
EBITDA
In 2012, the real state for sale revenue was R$227.5 million, 360.5%
higher than in 2011. The result reflects the sale of (i) MorumbiBusinessCenter for R$165 million, in February of 2012, (ii) RibeirãoShopping Professional Center, delivered in December of 2012 (98% sold);
and (iii) project in BarraShoppingSul complex, consisting of commercial buildings Diamond Tower (67.4% sold) and residential Résidence
du Lac (84% sold).
COST OF
PROPERTIES SOLD
In 2012, Consolidated EBITDA was R$615.8 million, 35.2% higher
than in 2011, reflecting the expansion of the operation previously
addressed. The Company’s Consolidated EBITDA margin is naturally
lower than that of Shopping Centers, reflecting the lower margins of
the real estate for sale activity, when compared to those of projects
for lease.
Consolidated EBITDA
(R$)
+35.2%
615.8
In 2012, the Company recorded cost of properties sold of R$120
million, in line with the evolution of construction works, 168.2% higher
as compared to 2011.
NEW PROJECTS
FOR SALE EXPENSES
For the year, new projects for sale expenses, mainly composed of
marketing efforts and brokerage expenses totaled R$15.6 million,
1.5% lower than in 2011.
66
455.3
2011
The reduction of the consolidated EBITDA margin to 64% in 2012
when compared to 67.3% in 2011 was due to the higher share of real
estate for sale projects in the Company’s results. In 2012, real estate
for sale revenue accounted for 21.7% of gross revenues.
2012
Consolidated EBITDA (R$)
Net Revenue
2012
2011
Net Revenue
961.9 M
676.3 M
42.2%
Headquarter expenses
(99.9 M)
(88.4 M)
13.0%
Stock options-based expenses
(9.5 M)
(7.7 M)
24.4%
Shopping centers expenses
(75.1 M)
(58.3 M)
28.9%
New projects for lease expenses
(33.4 M)
(12.2 M)
172.8%
New projects for sale expenses
(15.6 M)
(15.9 M)
1.5%
Cost of properties sold
(120.0 M)
(44.8 M)
168.2%
Equity income
2.9 M
2.1 M
34.1%
Other operating revenues (expenses)
4.6 M
4.1 M
13.3%
615.8 M
455.3 M
35.2%
64.0%
67.3%
Consolidated EBITDA
Consolidated EBITDA margin
Var. %
331 p.b.
FINANCIAL RESULTS,
DEBT AND
CASH
Multiplan debt indexers on December 31, 2012
Multiplan ended 2012 with a net debt of R$1,505.2 million, as
compared to R$443.9 million in the previous year. The current figure
represents a net debt-to-EBITDA (last 12 months) ratio of 2.44x.
4.2%
For the year, the balance between the interest from the invested cash
position and financial expenses generated a negative financial result
of R$41.5 million.
2.3%
11.6%
CDI
IPCA
49.1%
IGP-M
TJLP
32.0%
Loans and financing (banks)
TR
Acquisition of property (land and participation) Liabilities
Debentures
11.08%
289M
249M
169M
162M
150M
10.52%
224M
9.98%
176M
150M
9.48%
107M
50M
7M
2013
46M
29M
20M
2M
2014
2015
2016
2017
2018
2019
2020
35M
2021
35M
>=2021
67
4Q11
1Q12
2Q12
3Q12
4Q12
Weighted average cost of debt (% p.a.)
Debt amortization profile on December 31, 2012 (R$)
The Company´s weighted average cost of debt decreased from 11.08%
p.a. on December 31, 2011, to 9.08% p.a. at the end of 2012. This is
mostly due to the increased weight of its CDI indexed debt to 49.1%
of total indebtedness in 2012, compared to 32% at the end of 2011,
aiming to benefit from the reduction in interest rates in Brazil. During this
period, the basic interest rate dropped from 11.00% p.a. on December
31, 2011, to 7.25% p.a. as of December 31, 2012.
9.08%
The TR indexed debt, which was equivalent to 40.0% of total indebtedness
in 2011, decreased its weight to 32% at the end of 2012. The TJLP,
which is the main index used by the Brazilian Development Bank (BNDES),
presented a slight decrease in its weight of total indebtedness from 13%
at the end of 2011 to 11.6% in 2012. This index, which was set at 6%
p.a. between July 2009 and June 2012, was reduced to 5.50% p.a. as
of July of 2012, and 5% p.a. as of January of 2013.
In line with its policy of continuous search for alternative
sources of funding, Multiplan signed a seven-year loan with
Banco Bradesco in the amount of R$300 million in December
2012, at a CDI interest rate plus 1% pa. Interest will be
paid every six months and the principal in three annual
installments, beginning in December 2017.
NET INCOME AND
FUNDS FROM
OPERATIONS (FFO)
In 2012, net income was R$388.1 million, 30.1% higher than in 2011,
despite the increase in leverage from 0.98x to 2.44x Net Debt/EBITDA
at the end of this year.
FFO per share (per year)
+30.1%
388.1M
298.2M
In December of 2012, Multiplan announced the payment of interest
on equity of R$125 million before taxes, representing 33.9% of net
income reported in 2012 after deducting legal reserves.
44.1%
In 2012, FFO reached R$515.6 million, 24.1% higher than 2011.
Moreover, FFO per share was R$2.89, indicating a five-year CAGR
of 16.4%.
2011
68
2.89
2.06
1.35
1.61
1.54
2008
2009
2.33
40.3%
2012
Net income and margin
(2012/2011) – (R$)
2007
2010
2011
2012
FFO evolution per share* (R$)
*Free-float at the end of each year, adjusted for treasury shares
CAPITAL MARKETS
Multiplan Empreendimentos S.A.’s common shares are traded on
Level 2 of Corporate Governance of the BM&FBovespa, under the
ticker symbol MULT3 and are part of the following indexes: Brazil
Index (IBRX), Tag Along Index (ITAG), Corporate Governance Index
(IGC), Real Estate Index (IMOB), Mid-Large Cap Index (MLCX), MSCI
Brazil Fund Index, FTSE EPRA/NAREIT Global Index, FTSE All World
Emerging Index, FTSE All World EX US Index Fund, MSCI Emerging
Markets Index, MSCI BRIC Index Fund, SPL Total International Stock
Index and S&P Global ex-US Property Index.
36%
STOCK MARKET
PERFORMANCE
359,710
331,608
264,490
255,766
152,951
MULT 3 in BM&FBOVESPA
Multiplan’s shares ended 2012 quoted at R$60.20, an increase of
57.3%, when compared to 2011, outperforming the Bovespa index by
4,990 bps, which appreciated 7.4% in the same period.
2008
In 2012, Multiplan’s average daily financial volume increased 94.5%,
reaching an average of R$17.4 million/day, compared to R$8.9 million
in 2011. Considering the average daily trade volume in 2012, the
volume increased 36% over 2011.
2009
2010
2011
2012
Average daily traded shares volume evolution
2012
2011
Average closing price
R$49.43
R$ 34.06
45.1%
Closing price
R$60.20
R$ 38.27
57.3%
Average daily financial volume
R$17.4 M
R$ 8.9 M
94.5%
R$10.788 M
R$ 6.858 M
57.3%
Market value
Average daily financial volume (15 days average)
Var.
Multiplan
+57.3%
Ibovespa
+7.4%
40.0 M
180
35.0 M
160
30.0 M
140
120
25.0 M
100
20.0 M
80
15.0 M
60
10.0 M
40
5.0 M
Dec-11
20
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Variation: MULT3 and Bovespa and MULT3 volume
Base 100 = December 31, 2011
69
2012 INVESTMENTS
In 2012, Multiplan invested R$1.3 billion in the development of its
projects, the largest investment made in a single year in the history
of the Company. The new shopping centers received investments of
R$839.8 million, equivalent to 62.5% of the CAPEX of the year.
CAPEX (RS)
2012
New shopping centers
839.8 M
New expansions
161.9 M
New Office Towers for Lease
108.3 M
Renovations, IT and Others
59.4 M
Acquisition of Minority Interest
175.0 M
CAPEX Total
1,344.4 M
Investment breakdown
1,344 M
689 M
664 M
437 M
2007
2008
477 M
442 M
2009
2010
2011
2012
CAPEX Evolution (R$)
70
.06 SOCIAL MANAGEMENT
27m
3
1
2
ParkShopping Campo Grande (RJ)
71
.06 SOCIAL MANAGEMENT
GRI: 4.12
STAKEHOLDER
RELATIONS
GRI: 4.14 4.15
27m
Stakeholder relations, i.e., those that impact or are impacted by
Multiplan’s businesses, are essential for the performance and
development of the Company. In order to operate in direct contact
with a large audience that interacts in different ways with Multiplan
- customers, tenants, suppliers, communities, etc. - it is essential
to identify demands and expectations to anticipate opportunities
and challenges, thereby promoting value creation and sustainable
corporate development.
To maintain open dialogue with stakeholders, essential to
strong relationships, Multiplan provides different permanent
communication channels as well as initiatives developed
specifically for the relevant needs of each group, as shown in the
fallowing pages.
1
2
Also, it periodically conducts quantitative and qualitative
satisfaction surveys with customers and stakeholders who feel
and exert greater impact on mall activities
72
CUSTOMERS
GRI:
PR5
GRI:
The target audience of the Company’s activities, Multiplan continuously
seeks quality and innovation to satisfy customers. To do so, the
Company periodically conducts quantitative and qualitative satisfaction
surveys with customers, and also features other permanent relationship
channels, such as the Customer Care Center (SAC), the Call Center
and the official channels of Multiplan - and its shopping centers - on
social media, targeting the dialogue with consumers.
The Company’s shopping centers, which have close and daily
contact with customers, seek to ensure the health and safety of these
stakeholders by implementing various measures, such as:
•Promotion of accessibility during construction;
•Air quality evaluation and maintenance;
DEVELOPMENT
AND WELLBEING
EMPLOYEES
AND RETAILERS
2.8
EC7
LA1
LA2
LA3
LA6
LA8
LA9 LA11 PR1
One of the most important roles of Multiplan’s operation in social
development is the significant employment generation in the
regions of its shopping centers in operation or under development,
s t i m u l a t i n g t h e l o c a l e c o n o m y a n d p ro v i d i n g p ro f e s s i o n a l
development opportunities and education to local residents.
The Company hires local professionals to meet its labor needs
and has continuous training and development programs geared
to these stakeholders.
GRI:
2.10
Multiplan’s quality is also reflected in the attention dedicated to the
development, training and well-being of its employees to provide better
service to shopping center customers.
The team directly serving customers - security guards and mall
employees - attend daily meetings to address issues such as personal
presentation, courtesy, kindness, posture, non-discrimination and
assistance to customers with special needs (wheelchair users, the
visually and hearing impaired).
In addition to this routine, the Company has Internal Accident
Prevention Commissions (CIPAs) that promote health and safety
practices and programs to influence good habits in pursuit of quality
of life. The CIPAs are formed by Company employees in the following
shopping centers of Multiplan’s portfolio:
EMPLOYEE
PROFILE
•Evaluation and maintenance of water quality;
•Monitoring of food establishments according to ANVISA rules;
•Hygiene practices according to the Health Department;
•Legally compliance to security practices;
•Security systems;
•Urban pest control; and
•Employee training.
73
In 2012, 68,072 professionals, 7,682 direct employees, 243
Multiplan holding employees, and 60,147 indirect employees
made up the Company’s workforce.
CLT Regime
Legal
Persons
Trainees
Temporary
1,942
35
11
36
Outsourced
TOTAL
5,658
7,682
Shopping Center
Total employees
%
RibeirãoShopping
8
6.3%
BarraShopping
8
4.9%
MorumbiShopping
11
5.0%
ParkShopping
5
4.0%
5
5.5%
ParkShopping Barigüi
8
4.3%
Pátio Savassi
12
4.7%
9
7.0%
2
2.7%
In 2012, the Company’s shopping
centers promoted the following
workshops and campaigns for its staff:
Y.O.U. - MAKE A DIFFERENCE!
Health ans Safety
Promoted by Shopping Patio Savassi in Belo Horizonte, the
project aims to integrate and strengthen relationships, motivate
teams and employees, including thirdparties and trainees. Over
the years, the project has increasingly grown.
• Fire brigade training
• Talks and campaigns on first aid, quality of life,
alcoholism, smoking and STDs
• Guidance on the use of personal protection
equipment (PPEs)
• Internal Accident Prevention Weeks (SIPATs) developed by
Internal Accident Prevention Commissions (CIPAs) to raise
awareness and promote quality of life
Proposal:
How it works:
Composed by several initiatives - such
as Coffee with the Superintendent,
Health Week, Beauty Day and
Monthly Meeting, in addition to
trainings - the project points out
and rewards participation of all
in the actions of the Project.
• Vaccination campaigns and periodic exams
Service
• Human rights defense events for service and
security personnel
ELOS
• Make-up class for receptionists
• Talks about teamwork
Proposal:
BH Shopping (Belo
Horizonte, MG) won 1st
place in the Abrasce Award
2012 for the Elos Project
in the Excellence in the
Management category.
Routine
programs
developed by
Mutliplan’s Shopping
Centers
BH Shopping and DiamondMall,
initially developed the Elos Project,
and in 2012, RibeirãoShopping and
Shopping Santa Ursula also initiated the
project. The project aims to provide the best
customized service to all customers by aligning
the organizational culture of the company with mall
administration employees and third party companies.
How it works:
With support from the Newton Paiva University Center, in Belo
Horizonte state, and with support of Uniseb – COC Sistema
Educacional Brasileiro - short courses and events are offered
using pedagogical, methodological and didactic aspects.
74
ESTUDARH
FUNCIONÁRIO NOTA 10
RETAIL CLUB
Beguin in 2006, at BarraShopping, the program won in 2008
the Newton Rique Community Award, granted by Abrasce.
Today the program is implemented also in MorumbiShopping
and is in the process of expanding to all other Company
shopping malls – it has already been submitted to the
Department of Education of the State of Rio Grande do Sul,
Paraná and the Federal District.
Proposal:
Proposal:
Proposal:
Empower the workforce to provide and promote knowledge
as the main tool. The program offers fairer opportunities for
personal and professional growth, as well as being a way to
retain talent and encourage self-esteem and pride of
belonging to the Company.
How it works:
Courses are offered for primary and secondary education
in-company, without commuting or cost to the employee.
When putting together employees from different sectors of
the company, it encourages integration and greater business
knowledge. The methodology is based on the programs and
curricula established by the Ministry of Education in each state
which, in some cases, requires the certification of the project
carried out by partner companies.
About the Developments
already offering the program:
• BarraShopping has the capacity to serve 120 students in
the two classrooms provided for the project, both located
in the BarraShopping Socio-Cultural Space, and it has a
partnership with the Department of Education of the State of
Rio de Janeiro and FOCO Educational Projects. In March of
2012, a graduation ceremony was held for 70 employees of
secondary education classes.
Award employees who
excel during the period.
Start: 2010
Empower sales teams and management.
How it works:
How it works:
The program offers a bonus minimum wage for employees
in maintenance, cleaning, parking and security areas of the
shopping malls.
This project has
already lead 270 direct and
outsourced employees and
tenants’ employees to complete
their elementary and
middle schooling in
BarraShopping,
free of charge.
Lectures and short courses on issues related to retail, always
considering the profile of each mall, are offered annually.
Presentations include industry trends, innovative cases and
different approaches about the business.
In 2012 there were
more than 10,000 participants.
Routine
programs
developed by
Mutliplan’s Shopping
Centers.
• Initially MorumbiShopping has capacity to serve 70 students,
being 40 from secondary education and 30 from primary
education. The mall has the Social Service of Industry (SESI)
as a partner for course certification.
75
TALENT RETENTION
LOCAL COMMUNITY
GRI:
Multiplan understands that excellence is the result of learning
and accumulated experiences. Therefore, one of the goals of the
Company’s management is to provide an enjoyable and motivating
business environment to retain talents.
EC8
EC9
SO1
SO5
Multiplan has a clear commitment to developing regions where its
shopping centers and businesses are located. As an important part
of the economic and people flow in places in which it operates, the
Company is an important driver for development and therefore works
generate value and minimize impacts in this public.
Multiplan adopts measures that expand opportunities for
career training, offering standard benefits (meal allowance, food
vouchers, transportation vouchers or parking, medical and dental
care and health insurance), group life insurance, supplemental
wages and bonuses, in addition to a profit sharing plan (PPR) and
Stock Option Plans.
The Company’s social management is focused on development in
three main areas - Infrastructure, Culture and Campaigns/Workshops
– that, in addition to adding value in communities, are essential to the
development and sustainability of its business.
Career development is also based on meritocracy, and all
employees have equal opportunity in promotions and in applying
for available positions throughout the Company. Turnover rate
indicators show positive results from this Multiplan strategy.
Turnover indicators for Multiplan malls in 2012.
Admissions
Employees under 30
years of age
Employees between
31 and 45 years old
Employees over 45
years old
Men
Women
Total
472
195
32
275
424
699
Terminations
Employees under 30
years of age
Employees between
31 and 45 years old
Employees over 45
years old
Men
Women
Total
416
167
24
204
403
607
Turnover Rate
0.3%
76
PROJECTS 2012
CULTU
INFRASTRUCTURE
Investments focused on:
INFRASTRUCTURE
Construction of
transportation
infrastructure and
services in the surroundings
of the developments under
construction
CULTURE
Exhibitions and art
events, music and
culture in the malls
in operation
• Accessibility to shopping centers via renovation,
maintenance, widening and repaving of sidewalks;
• Accessibility and security with the construction and the
installation of bus stops, pedestrian overpasses and traffic
lights;
• Maintenance of landscaping adjacent to developments.
CAMPAIGNS AND WORKSHOPS
Multiplan sponsored the following
campaigns and workshops:
CAMPAIGNS, TRAINING
AND COUNSELING
The Development invested in the renovation of the facade of the
Museu de Arte de Ribeirão Preto (MARP).
VillageMal
Implementation of one kilometer stretch in the Via Parque da Lagoa
da Tijuca road, in Rio de Janeiro, with an investment of R$26 million
for the improvement of the access to the shopping and to alleviate
traffic in the surrounding area.
• Vaccination campaigns;
• Health conversations;
• Incentives for sports;
• Prevention campaigns;
• On-the-job exercise.
Investment of about R$5 million in urban and road improvements
in the vicinity of the mall, as well as the redevelopment of the plaza
“Praça dos Escolares” in Cosmos, neighborhood of Campo Grande,
with a budget of R$1 million.
JundiaíShopping
Construction of a Basic Health Unit, as suggested by the city of
Jundiaí, the expansion and urban redevelopment of Avenida Nove
de Julho - including infrastructure, traffic lights and signs and
landscaping, and also works on bridges and walkways - in order to
improve access to the shopping and urban conditions.
77
Track&Field Run Series
A i m i n g t o r a i s e a w a re n e s s o n h e a l t h a n d q u a l i t y o f l i f e ,
BarraShopping, Shopping Anália Franco, New York City Center,
ParkShopping, Patio Savassi, BH Shopping and RibeirãoShopping
sponsor initiatives of the Track & Field Run Series Competition,
which includes 5 and 10 km running routes.
Pátio Savassi
Ribeirão Shopping
The Campaign for the Environment, conducted by the Mall to
promote the disposal of electronic waste, has become a permanent
activity.
Development of the infrastructure around the shopping mall, including
the revitalization of a square and improvements in the surrounding
road system, as part of the project expansion investments.
Besides the Track & Field Run Series, the Mall promotes the Corrida
Savassi Sport Life to increase the awareness among citizens about
the importance of practicing sports.
Culture
Philanthropic Activities
Multiplan
Multiplan
Sponsoring of the publishing of the book “Barra da Tijuca - City and Nature” at a cost of R$390 thousand; it
is a collection of essays by some of the best known urban planners, environmentalists and historians of Rio,
which aims to promote reflection on the recent path pursued and expectations of the neighborhood. The 2000
copies are destined to libraries and relationship programs to the Group malls in the region.
Contribution to Curitiba Children and Adolescents Fund with an investment of R$50 thousand. Support for the
program “Participant Family” of the LITTLE PRINCE CHILDREN’S HOSPITAL, which funds the stays of families
together with their hospitalized children, encouraging and shortening their recovery. It has great resonance with
opinion makers and media in the city of Curitiba, associating the name of the Company to a well respected
and recognized institution for quality and spirit of solidarity. It was the second year in a row that we invested
resources in this institution.
Support for the 2013 annual program the MIDRASH Center for Studies and Culture, which includes
performing arts, theatrical performances, music and cultural debates. The investment was of
approximately R$150 thousand.
“Giants of the Ice Age”
For the first time, the international free admission exhibition “Giants of the Ice Age” arrived in Brazil in 2011
and displayed exclusively by Multiplan in ten of its shopping malls. In 2012, it was presented at BH Shopping,
ParkShopping Barigui, MorumbiShopping, RibeirãoShopping, Park Shopping and BarraShoppingSul. The result
of a R$3 million investment by the shopping centers, the exhibition features 11 life-size replicas of animals up to
four meters high that inhabited the Earth during the Ice Age.
Cirque du Soleil – Varekai
Contribution to the Rio de Janeiro Children and Adolescents Fund with an investment of R$32 thousand.
Supporting the maintenance of the OBRA DO BERÇO program, traditional philanthropic institution that serves
underprivileged children in Rio de Janeiro.
In partnership with the Association of Friends of Children with Cancer (AMICCA), Multiplan and BarraShopping
invited patients of the entity to play in the HotZone park, in the Shopping. Snacks and toys were also
distributed for free. Children who could not leave the hospital also were given gifts.
Contribution to the São Paulo Children and Adolescents Fund with total investment of R$48 thousand. The
funds were allocated for the project “Adopt a Bed” at CASA HOPE, philanthropic organization that offers
support to children and adolescents with cancer.
Tocando a Vida
The malls MorumbiShopping, BarraShoppingSul and ParkShopping Barigui contributed to the show “Varekai,”
which means, in the Romani language, “wherever”. The show is a tribute to the nomadic soul, to the spirit and
art of the circus tradition. With the creation and direction of Dominic Champagne and a team of the new artistic
generation, the show features a fusion of theater with acrobatics.
Sponsored by RibeirãoShopping during the entire 2012 school year, students of the Municipal School of Basic
Education (EMEF) enrolled in the project had street dance classes, choir singing and flute.
Treasures, myths and mysteries of the Americas
Haras Manoel Leao Project and Swimming Ahead program
In 2012, the international exhibition “Treasures, myths and mysteries of the Americas“ hosted its world premiere
in Brazil, brought exclusively by Multiplan. The first mall to host the event was Shopping Anália Franco. The
exhibition is free of charge and has 120 pieces divided in seven main parts: Moais from Easter Island, Pyramid
of Chichen Itza, Mayan Calendar, display cabinets with Gold and Ceramics from Colombia, Estela de Quirigua,
Ruins of San Agustín and an indigenous character. Altogether, R$2.5 million were invested by the malls, which
will reach additional six Multiplan shopping centers in 2013.
Dinosaurs of Patagonia
Shopping Santa Úrsula sponsors the Haras Manoel Leao Project, consisting in adopting children with mental
and physical disabilities, providing treatment with horses, enabling the improvement or maintenance of motor
skills and reaction to external stimuli.
Shopping Santa Úrsula sponsors the Swimming Ahead program, a social and sports program that provides
appropriate conditions for improving the quality of life and contributes to the emergence of citizens who are
aware, supportive and motivated to continue the construction of a more balanced society.
Team athletes from BH Shopping
The international exhibition “Dinosaurs of Patagonia”, of educational nature, is open to the public of all ages,
was brought to Brazil exclusively by Multiplan in 2011. The exhibition passed by seven Multiplan developments,
and in 2012, ended its tour at ParkShopping São Caetano. Altogether, R$1.5 million were invested by the
malls. The exhibition brings together ten life-sized dinosaur fossil replicas that inhabited the region thousands of
years ago.
The Development sponsors Team athletes from BH Shopping/Minas Gerais with coaching at the
Minas Tênis Club, one of the largest and most important social, sports and cultural institutions
in the country.
38th Campaign for Popularization of Theatre and Dance
Shopping Pátio Savassi held the 38th Campaign for Popularization of Theatre and Dance, traditional in Belo
Horizonte, and offered plays for children and adults.
Exhibit “The Giants of the Ice Age”
78
INVESTORS
SOCIAL, ENVIRONMENTAL
AND INDUSTRY
ORGANIZATIONS
SUPPLIERS
GRI:
Multiplan’s Investor Relations team works continuously to build a
close relationship with its shareholders and with the market, seeking
to understand their expectations and needs and strengthen their
relationship with the Company.
GRI:
4.13
Multiplan participates in social, environmental and industry
organizations to promote development and evolution of the market
and of the sites where it operates.
In 2012, the Company was a member of the following organizations:
To this end, the team is always committed to transparency, broad
disclosure and ease of access to its professionals and materials.
The IR team can be contacted whenever necessary through the
“Investors” page on the Company’s website: www.multiplan.com.br/ri.
EC7
EN6
Multiplan Developments are leaders in their communities, promoting
expansion and economic growth. As a contribution to sustainable
development, the Company - considering technical and commercial
aspects such as quality, price and terms - prioritizes local suppliers,
which also impacts logistics, reducing road travel and hence
greenhouse gas emissions.
Development
BH Shopping
EC6
Association
E
Brazilian Association of Shopping Centers (Abrasce)
BH Convention & Visitour Bureau
RibeirãoShopping
City Hall in which it operates, Ribeirão Preto
BarraShopping
MorumbiShopping
BHShop
Ribeirão
BarraSh
Morumb
São Paulo Convention & Visitors Bureau
ParkSho
Diamon
New Yo
ParkShopping Brasília
Does not participate in associations
DiamondMall
Neighborhood safety council (CONSEG)
Shoppin
Safety committee of the Brazilian Association of Shopping Centers (Abrasce)
ParkSho
Pátio Sa
Pátio Savassi
Social Lan House (partnership)
Eagle Eye, the state agency that aims to improve safety through cameras in neighborhoods
Shoppin
Interaction with the Trade Association of Ribeirão Preto (ACI - RP) is also an active part of the mall, as
the company has a lot of importance in the local trade.
In organizing process for a group of Residents of the Neighborhood in order to humanize the
customer contact, both on the tenant side and on the Shopping side
BarraSh
BarraShoppingSul
Shoppin
Beehive Movement, a non-profit institution established by professionals, entrepreneurs and
throughout the local community, which aims at re-urbanization of Vila Olimpia
79
ParkSho
ParkShoppingBarigüi (PR)
.07 ENVIRONMENTAL
MANAGEMENT
80
.07 ENVIRONMENTAL MANAGEMENT
GRI:
EC2
In all areas of its business, Multiplan is a leader in environmental
management, complying with laws, rules, regulations and
resolutions as well as industry best practices to minimize the
environmental impacts of its operations and optimize the use of
natural resources.
With this objective, the Company monitors quantitative indicators
for resource use and waste generation and adopts different
policies and practices in each of the environmental dimensions,
presented below.
Present in all projects
managed by the Company –
from shopping center management
to new business development
– mitigation and reduction of
environmental impacts is a constant
concern for Multiplan.
81
ENVIRONMENTAL
MANAGEMENT
PRACTICES
GRI:
4.12
EN5
EN6
EN26 EN29 PR1
EN7 EN11 EN12 EN13 EN14 EN18
CONSUMPTION
OF FOSSIL FUELS
• Operate, whenever feasible, using new technologies and efficient
equipment that allow for cleaner operation. Examples of this are
escalators which operate with motion sensors to slow down and reduce
power consumption when not in use and restroom faucets with motion
sensors to avoid wasting water.
• Environmental awareness of construction employees.
• Video Conferencing Services to reduce the need for employee travel.
• Campaigns to reduce consumption of energy and water.
GREENHOUSE
GAS EMISSIONS
• Use of electric Segways by the security team.
CONSUMPTION OF
NATURAL RESOURCES
CONSUMPTION OF WATER
• Provision of bicycle parking.
• Implementing mechanisms that allow reuse of water. BarraShopping
and ParkShopping Campo Grande operate with water reuse
systems for toilets, urinals and cooling towers (air-conditioning).
• BarraShopping offers free transportation to predetermined locations.
The shuttle bus leaves from the mall and its route, which is
continuously reevaluated, seeks to prioritize key points.
• Construction of rain water collection systems, for subsequent reuse.
• In 2008, one of the procedures adopted by Multiplan was the
purchase of energy from alternative energy sources, contributing
to reduce greenhouse gas emissions.
• Investment in “green” materials, such as high thermal efficiency
glass, low energy escalators and LED lamps.
• Projects with thermal accumulation towers, using iced water
accumulated in tank systems to be used in air-conditioning.
BIODIVERSITY
AND CONSERVATION
• Revitalization of areas surrounding the development.
• P a r t o f t h e c o n s t r u c t i o n o f t h e P a r k S h o p p i n g C o r p o r a t e
development was compensated by the revitalization of the Guará
Ecological Park, with an orchidarium and planting of various
species of trees.
• Recycling.
82
ENVIRONMENTAL
PERFORMANCE INDICATORS
GRI:
EN1
EN2
EN8
EN9 EN10 EN21 EN22
EN24 EN25
ENERGY
CONSUMED MATERIALS
Multiplan has developments nationwide with different energy providers.
Power consumption is monitored for control and improvement, always
seeking efficiency.
The main materials used by Multiplan Developments are paper towels,
personal hygiene products and soap. The following table shows the
use of these materials per shopping center during 2012:
Development
The following table shows the total power consumption per shopping
center during 2012:
Development
Total (kWh)
Paper Towel (t)
Personal hygiene product (t)
Soap (thousand liters)
BH Shopping
13.5
23.1
7.9
RibeirãoShopping
25.3
13.5
6.8
BH Shopping
28,970,000
BarraShopping
223.2
60.1
18.1
RibeirãoShopping
20,162,712
MorumbiShopping
56.0
44.9
9.2
BarraShopping
42,188,000
ParkShopping
33.0
22.3
7.6
MorumbiShopping
22,064,650
DiamondMall
14.0
25.0
3.3
ParkShopping
29,259,850
11.7
3.1
0.9
DiamondMall
19,465,829
38.7
30.0
12.0
7,196,000
38.2
24.2
6.3
28,970,000
Pátio Savassi
16.3
9.5
3.0
ParkShoppingBarigui
19,932,599
17.5
8.7
2.8
Pátio Savassi
12,317,401
BarraShoppingSul
38.6
16.3
5.1
12,666,021
21.9
14.2
3.5
BarraShoppingSul
16,400,000
17.6
37.4
12.0
19,315,157
JundiaíShopping*
5.7
2.7
1.5
19,444,369
ParkShopping Campo Grande*
2.9
1.4
0.6
JundiaíShopping*
3,800,000
VillageMall*
0.5
0.2
0.4
1,800,000
574.6
336.6
101
VillageMall*
3,119,000
TOTAL
TOTAL
307,071,588
* Developments inaugurated in the fourth quarter of 2012
83
WATER
WASTE
Aiming to optimize the use of resources, the Company develops
actions to use water efficiently.
Multiplan has a policy of adopting practices to promote efficient use
of resources and materials in its developments, minimizing the impact
of its operations. Examples of measures taken by mall managements
are recycling and product transportation performed at fixed times.
W ith the exception of BarraShoppingSul and ParkShopping
Campo Grande, which have sewage treatment systems, Multiplan’s
developments are connected to the wastewater collection network of
local utility companies.
The waste generated by shopping centers in operation in the year
2012 is as follows:
In 2012, the total water consumption per development is described
in the table below:
Development
Total (m³)
Developement
Cardboard (t)
Aluminum (t)
Plastic (t)
Organic (t)
BH Shopping
127,381
BH Shopping
230.20
NS
3.02
1,847.69
RibeirãoShopping
131,947
RibeirãoShopping
298.40
1.90
3.29
1,728.00
BarraShopping + New York City Center
345,325
BarraShopping
649.00
0.20
0.30
6,175.00
MorumbiShopping
186,034
MorumbiShopping
548.70
11.29
92.03
3,422.00
ParkShopping
343,000
ParkShopping
594.00
-
15.00
2,172.00
DiamondMall
107,502
DiamondMall
220.00
-
-
1,512.00
135,000
34.00
0.20
0.30
325.00
122,088
348.23
3.23
17.19
1,927.89
Pátio Savassi
44,436
323.37
9.66
23.52
1,175.86
63,872
Pátio Savassi
82.00
2.60
30.00
805.00
BarraShoppingSul
104,570
Shopping Santa Úrsula*
151.57
0.37
0.49
308.9
73,116
BarraShoppingSul
197.90
5.90
7.59
1,163.76
108,717
172.50
3.82
14.70
1,563.00
JundiaíShopping*
13,792
240.83
5.65
23.29
1,313.47
14,505
TOTAL
4,090.70
44.82
230.72
25,439.57
VillageMall*
2,267
TOTAL
1,923,552
NS = Not significant
* In the Development, recycling began in August, 2012.
Prior to that date, recyclable materials - except cardboard - were discarded in the organic trash compactor.
84
CLEAN CONSTRUCTION
Multiplan develops policies and procedures to minimize the
impact of its construction works. Actions adopted include:
• Monitoring of soil, water, air, sewage networks, noise levels
and traffic near the site;
• To avoid dispersing waste like dust and mud via trucks, wheel
washing equipment is used. Whenever possible, the water
used in this process is rain water;
• Sites are watered daily to prevent dust dispersion with
rainwater whenever possible;
• Construction of drainage ditches to collect rain water,
that is then used in construction activities and decanted
before disposal;
• Collecting rain water also avoids runoff, sedimentation and
flash floods;
• Installation of sewage treatment systems to support the site;
• Separate containers for recyclable materials;
• Training for to raise environmental awareness;
• Campaigns to reduce energy and water consumption;
• Mitigation kit for environmental emergencies such as
leaks and spills.
In addition, the Company seeks to develop properties
according to Leadership in Energy & Environmental Design
(LEED) guidelines, with certification given by the U.S. Green
Building Council (USGBC), a non-governmental organization
focusing on eco-efficiency of buildings worldwide. Morumbi
Corporate and ParkShoppingCorporate, commercial real estate
development, are in the preparation phase for certification.
MorumbiBusinessCenter, a commercial real estate project
development sold in 2012, is certified.
85
GRI GUIDELINES
86
GRI GUIDELINES
GRI:
87
3.7
3.9
3.10
3.11
3.12
3.13
4.4
4.6
4.10
4.16
4.17
EC5 EN23 EN28 LA4
LA5 LA14 HR2 HR4 HR5 HR6 HR8
HR9 SO8
PR8
PR6
PR7
GRI Guidelines
1.1
1.2
Statement from the most senior decision
maker of the organization (e.g., CEO, chair,
or equivalent senior position) about the
relevance of sustainability to the organization
and its strategy
Description of key impacts, risks, and
opportunities
Answer / page
5
GRI Guidelines
Name of the organization
13
2.2
Primary brands, products, and/or services
2.3
Operational structure
16
2.4
Location of organization’s headquarters
13
2.5
Number of countries where the organization
operates
Answer / page
3.10
Explanation of the effect of any restatements of information provided in earlier
reports
There was no reformulation
3.11
Significant changes from previous reporting
periods in the scope, boundary, or
measurement methods applied in the report
There was no significant
changes
3.12
Table identifying the location of the Standard
Disclosures in the report
87
3.13
External assurance for the report
4.1
Governance structure
4.2
Indicate whether the Chair of the highest
governance body is also an executive officer
51
4.3
For organizations that have a unitary board
structure, state the number of members
of the highest governance body that are
independent and/or non-executive members
47 and 51
4.4
Mechanisms for shareholders and
employees to provide recommendations or
direction to the highest governance body
There is no formal
mechanisms implemented
4.5
Linkage between compensation for
members of the highest governance body,
senior managers, and executives, and the
organization’s
51
4.6
Processes in place for the highest
governance body to ensure conflicts of
interest are avoided
39, 43 and 44
2.1
13 and 20
Comments
As in 2012, with the
exception of economicfinancial information, the
Report has not been verified
by external assurance.
4 and 13
2.6
Nature of ownership and legal form
13
2.7
Markets served
13
2.8
Scale of the reporting organization
2.9
Significant changes during the reporting
period
7
2.10
Awards received in the reporting period
20 and 73
3.1
Reporting period
11
3.2
Date of most recent previous report
11
3.3
Reporting cycle
11
3.4
Contact point
3.5
Process for defining report content
11
3.6
Boundary of the report
11
3.7
State any specific limitations on the scope or
boundary of the report
3.8
Basis for reporting on joint ventures,
subsidiaries, leased facilities, outsourced
operations, and other entities
3.9
Data measurement techniques
88
Comments
13 and 73
11 and 95
Any limitations about the
general scope of the report
will be detailed along the
text, if any
47, 51 and 54
Processes involving related
parts should be submitted
to Approval of the Board of
Directors and shareholders
17
The data measurement
techniques used on report
will be detailed along the text
with the referred data
GRI Guidelines
Answer / page
4.7
Process for determining the qualifications
and expertise of the members of the
highest governance body for guiding the
organization’s strategy on economic,
environmental, and social topics
51
4.8
Internally developed statements of mission
or values, codes of conduct, and principles
relevant to economic, environmental, and
social performance and the status of their
implementation
6
4.9
Procedures of the highest governance
body for overseeing the organization’s
identification and management of economic,
environmental, and social performance
51
4.10
Processes for evaluating the highest
governance body’s own performance,
particularly with respect to economic,
environmental, and social performance
The Company has no formal
processes for self-evaluation
of performance of the
highest governance body
4.11
Explanation of whether and how the
precautionary approach or principle is
addressed by the organization
54
4.12
4.13
Externally developed economic,
environmental, and social charters,
principles, or other initiatives to which the
organization subscribes or endorses
Memberships in associations (such as
industry associations) and/or national/
international advocacy organizations in
which the organization:
72 and 82
Comments
GRI Guidelines
4.17
The Company maintains
a close relationship and
ongoing dialogue with
their audiences, however,
it does not make specific
stakeholder consultation
for the development of
this report
Aspect
Economic Performance
EC1
Direct economic value generated and
distributed
EC2
Financial implications and other risks
and opportunities for the organization’s
activities due to climate change
39 and 81
EC3
Coverage of the organization’s defined
benefit plan obligations
Indicator is not available
EC4
Significant financial assistance received
from
Aspect
Market Presence
EC5
Range of ratios of standard entry level
wage compared to local minimum wage at
significant locations of operation
EC6
Policy, practices, and proportion of
spending on locally-based suppliers at
significant locations of operation
EC7
Procedures for local hiring and proportion
of senior management hired from the
local community at locations of significant
operation
• Has positions in governance bodies
• Provides substantive funding beyond
routine membership dues
96
The entry level wage paid by
the Company is in the middle
of all of its operating units,
equivalent to 1.15 times the
local minimum wage
79
73 and 79
4.14
List of stakeholder groups engaged by
the organization
72
Aspect
Indirect Economic Impacts
4.15
Basis for identification and selection of
stakeholders with whom to engage
72
EC8
76
4.16
Approaches to stakeholder engagement,
including frequency of engagement by type
and by stakeholder group
Development and impact of infrastructure
investments and services provided
primarily for public benefit through
commercial, inkind, or pro bono
engagement
EC9
Understanding and describing significant
indirect economic impacts, including the
extent of impacts
13, 56 and 76
89
The Company maintains
a close relationship and
ongoing dialogue with
their audiences, however,
it does not make specific
stakeholder consultation for
the development of
this report
Comments
ECONOMIC MANAGEMENT INFORMATION
79
• Participates in projects or committees
Key topics and concerns that have been
raised through stakeholder engagement,
and how the organization has responded
to those key topics
Answer / page
GRI Guidelines
Answer / page
Comments
GRI Guidelines
Answer / page
ENVIRONMENTAL MANAGEMENT INFORMATION
Aspect
Emissions, Effluents, and Waste
Aspect
Materials
EN16COM
EN1COM
Materials used by weight or volume
83
Total direct and indirect greenhouse gas
emissions by weight
EN2
Percentage of materials used that are
recycled input materials
83
EN17
Other relevant indirect greenhouse gas
emissions by weight
Aspect
Energy
EN18COM
Initiatives to reduce greenhouse gas
emissions and reductions achieved
EN3
Direct energy consumption by primary
energy source
EN19
Emissions of ozone-depleting substances
by weight
EN4
Indirect energy consumption by primary
source
EN20COM
NO, SO, and other significant air emissions
by type and weight
EN5
Energy saved due to conservation and
efficiency improvements
20 and 82
EN21COM
Total water discharge by quality and
destination
83
EN6
Initiatives to provide energy-efficient
or renewable energy based products
and services, and reductions in energy
requirements as a result of these initiatives
79 and 82
EN22COM
Total weight of waste by type and disposal
method
83
EN23
Total number and volume of significant
spills
EN24
Weight of transported, imported, exported,
or treated waste deemed hazardous
under the terms of the Basel Convention
Annex I, II, III, and VIII, and percentage of
transported waste shipped internationally
83
EN25
Identity, size, protected status, and
biodiversity value of water bodies and
related habitats significantly affected by
the reporting organization’s discharges of
water and runoff
83
Aspect
Products and Services
EN26
Initiatives to mitigate environmental
impacts of products and services, and
extent of impact mitigation
EN27
Percentage of products sold and their
packaging materials that are reclaimed by
category
Aspect
Compliance
EN28
Monetary value of significant fines and
total number of non-monetary sanctions
for non-compliance with enviromental laws
and regulations
83
EN7
Initiatives to reduce indirect energy
consumption and reductions achieved
Aspect
Water
EN8COM
Total water withdrawal by source
83
EN9
Water sources significantly affected by
withdrawal of water
83
EN10
Percentage and total volume of water
recycled and reused
83
Aspect
Biodiversity
EN11
Location and size of land owned, leased,
managed in, or adjacent to, protected
areas and areas of high biodiversity value
outside protected areas
82
Description of significant impacts of
activities, products, and services on
biodiversity in protected areas and areas
of high biodiversity value outside protected
areas
82
EN13
Habitats protected or restored
82
EN14COM
Strategies, current actions, and future
plans for managing impacts on biodiversity
82
EN15
Number of IUCN Red List species and
national conservation list species with
habitats in areas affected by operations, by
level of extinction risk
EN12COM
90
82
Comments
20, 39 and 82
Just as in 2011, there
was no significant spills
in 2012
82
There were no significant
fines in 2012
GRI Guidelines
Aspect
EN29
Aspect
EN30
Answer / page
Transport
Significant environmental impacts of
transporting products and other goods
and materials used for the organization’s
operations, and transporting members of
the workforce
SOCIAL MANAGEMENT INFORMATION
Aspect
Employment
LA1COM
Total workforce by employment type,
employment contract, and region
73
LA2COM
Total number and rate of employee
turnover by age group, gender, and region
73
LA3
Benefits provided to full-time employees
that are not provided to temporary or parttime employees, by major operations
73
Aspect
Labor/Management Relations
LA4COM
Percentage of employees covered by
collective bargaining agreements
All Company employees
are covered by collective
bargaining of their unions
LA5
Minimum notice period(s) regarding
The Company assesses if
operational changes, including whether it is there is need for minimum
specified in collective agreements
notification period
Aspect
Occupational Health and Safety
LA6
Percentage of total workforce represented
in formal joint management–worker health
and safety committees that help monitor
and advise on occupational health and
safety programs
73
Rates of injury, occupational diseases, lost
days, and absenteeism, and number of
workrelated fatalities by region
LA7COM
91
GRI Guidelines
Answer / page
LA8
Education, training, counseling, prevention,
and risk-control programs in place to
assist workforce members, their families,
or community members regarding serious
diseases
73
LA9
Health and safety topics covered in formal
agreements with trade unions
73
Aspect
Training and Education
LA10
Average hours of training per year per
employee by employee category
LA11
Programs for skills management and
lifelong learning that support the continued
employability of employees and assist them
in managing career endings
73
LA12
Percentage of employees receiving regular
performance and career development
reviews
Aspect
Diversity and Equal Opportunity
LA13
Composition of governance bodies and
breakdown of employees per category
according to gender, age group, minority
group membership, and other indicators
of diversity
LA14
Ratio of basic salary of men to women by
employee category
Company makes no
gender distinction in
compensation which
differs only between
positions, following the
principles of meritocracy
82
Overall
Total environmental protection
expenditures and investments by type
Comments
Comments
HUMAN RIGHTS PERFORMANCE INDICATORS
Aspect
Investment and Procurement Practices
HR1
Percentage and total number of significant The Company’s contracts
investment agreements that include human include clauses regarding
rights clauses or that have undergone
compliance with labor
human rights screening
obligations by the supplier,
and knowledge of the
Multiplan’s code of ethics
HR2
Percentage of significant suppliers and
contractors that have undergone screening
on human rights and actions taken
Possible and randomly
providers have to comply
with provisions of the
contract assessed
GRI Guidelines
HR3
Total hours of employee training on
policies and procedures concerning
aspects of human rights that are relevant
to operations, including the percentage of
employees trained
Answer / page
Aspect
Non-discrimination
HR4
Total number of incidents of
discriminationand actions taken
Aspect
Freedom of Association and Collective Bargaining
HR5COM
Operations identified in which the right
to exercise freedom of association and
collective bargaining may be at significant
risk, and actions taken to support these
rights
Aspect
Child Labor
HR6
Operations identified as having significant
risk for incidents of child labor, and
measures taken to contribute to the
elimination of child labor
Aspect
Forced and Compulsory Labor
HR7
Operations identified as having significant
risk for incidents of forced or compulsory
labor, and measures to contribute to the
elimination of forced or compulsory labor
Aspect
Security Practices
HR8
Percentage of security personnel trained
in the organization’s policies or procedures
concerning aspects of human rights that
are relevant to operations
Aspect
Indigenous Rights
HR9
Total number of incidents of violations
involving rights of indigenous people and
actions taken
92
There were no cases
of discrimination
There were no cases
registered
There were no cases
registered
There were no cases
registered
All security personnel are
undergoing training on
human rights
There were no incidents
of violations involving
rights of indigenous
peoples
Comments
GRI Guidelines
Answer / page
Comments
Aspect
Community
SO1COM
Nature, scope, and effectiveness of any
programs and practices that assess and
manage the impacts of operations on
communities, including entering, operating,
and exiting
Aspect
Corruption
SO2
Percentage and total number of business
units analyzed for risks related to
corruption
Not answered
SO3
Percentage of employees trained in
organization’s anti-corruption policies and
procedures
Not answered
SO4
Actions taken in response to incidents of
corruption
Not answered
Aspect
Public Policy
SO5
Public policy positions and participation in
public policy development and lobbying
76
SO6
Total value of financial and in-kind
contributions to political parties, politicians,
and related institutions by country
Not answered
Aspect
Anti-Competitive Behavior
SO7
Total number of legal actions for
anticompetitive behavior, anti-trust, and
monopoly practices and their outcomes
Aspect
Compliance
SO8
Monetary value of significant fines and total
number of non-monetary sanctions for
noncompliance with laws and regulations
76
Not answered
There was no monetary
fine or penalty in 2012
GRI Guidelines
Answer / page
Comments
Aspect
Customer Health and Safety
PR1COM
Life cycle stages in which health and safety
impacts of products and services are
assessed for improvement, and percentage
of significant products and services
categories subject to such procedures
PR2
Total number of incidents of noncompliance with regulations and voluntary
codes concerning health and safety
impacts of products and services during
their life cycle, by type of outcomes
Aspect
Product and Service Labeling
PR3
Type of product and service information
required by procedures, and percentage of
significant products and services subject to
such information requirements
PR4
Total number of incidents of noncompliance with regulations and voluntary
codes concerning product and service
information and labeling, by type of
outcomes
PR5
Practices related to customer satisfaction,
including results of surveys measuring
customer satisfaction
73
Aspect
Marketing Communications
PR6
Programs for adherence to laws,
standards, and voluntary codes related
to marketing communications, including
advertising, promotion, and sponsorship
PR7
Total number of incidents of noncompliance with regulations and
voluntary codes concerning marketing
communications, including advertising,
promotion, and sponsorship by type of
outcomes
Aspect
Costumer Privacy
PR8
Total number of substantiated complaints
regarding breaches of customer privacy
and losses of customer data
Aspect
Compliance
PR9
Monetary value of significant fines for
noncompliance with laws and regulations
concerning the provision and use of
products and services
93
73 and 82
The Company follows the
regulation of marketing of
specific locations in which
it operates
There were no cases of
non-compliance in this
regard
There were no complaints
in this regard
CREDITS AND CORPORATE
INFORMATION
94
GRI:
3.4
CREDITS
WRITING,
PROOFREADING,
TRANSLATION, GRI
CONSULTING AND
DESIGN
RICCA RI
CORPORATE
INFORMATION
OFFICES
Rio de Janeiro-RJ
Av. das Américas, 4200 - bloco 2 – 5o andar duplex
www.multiplan.com.br/ri
Centro Empresarial BarraShopping - Barra da Tijuca
[email protected]
Phone: + 55 (21) 3031-5200
CEP: 22640-102
PHOTO PRODUCTION
Produção Fotográfica
Leandro Tasca - Multiplan
Dario Zalis and Multiplan collection
São Paulo
Av. Roque Petroni Júnior, 1089 – sala 1109
Centro Profissional MorumbiShopping - Morumbi
Phone: +55 (11) 3529-2535
“The information and statements contained herein include
considerations relating to business prospects that are subject to
risks and uncertainties. Such statements reflect the perspectives and
beliefs of our management and the information to which the Company
has access. The forward-looking statements are not guarantees of
performance, and the conditions depend mainly on the circumstances
of government policies, economic and market as well as operating
factors. Therefore, future results of Group companies may differ
materially from current expectations.”
CEP: 04707-900
95

2012 Annual and Sustainability Report

Transcription

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