MEXICO CITY--(BUSINESS WIRE)-- GRUPO GICSA, S.A.B. de C.V. ("GICSA" or "the Company") (BMV: GICSA), a Mexican leading company specialized in the development, investment, commercialization and operation of shopping malls, corporate offices, industrial buildings and mixed use properties, announced today its results for the second quarter ("2Q16") and first six-month (“6M16”) periods ended June 30, 2016. All figures have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in millions of Mexican pesos (Ps.). GICSA’s financial results presented in this report are unaudited; therefore figures mentioned throughout this report may present adjustments in the future.

Main Highlights

Operational

• GICSA reported a total of 620,052 square meters (m2) of Gross Leasable Area (GLA) comprised of 13 properties at the close of 2Q16. The proportional GLA during 2Q16 was 391,264 square meters, an increase of 0.35% compared to the same period of the previous year.
• In 2Q16, occupancy rate reached 90.84%, an 18 basis point increase compared to 2Q15.
• Average leasing rate per square meter at the end of 2Q16 was Ps. 325, a 10.12% increase compared to 2Q15, which was Ps. 295.
• GICSA registered an increase in same-store sales of 11.99% in 2Q16 compared to 6.8% in 2Q15, and a total of 32.75 million of visitors in the shopping malls of the stabilized properties in 6M16, an increase of 7.64% compared to 6M15.

Financial

• During 2Q16, operating income reached Ps. 900 million, an increase of 6.08% compared to the Ps. 848 million in 2Q15.
• Net operating income (NOI) of the stabilized portfolio was Ps. 667 million in 2Q16, an increase of 8.08% compared to 2Q15. During 6M16, NOI reached Ps. 1,364 million, an increase of 17.11% compared to 6M15.
• NOI Margin in 2Q16 was 81.27% compared to 78.84% reached during 2Q15.
• Consolidated debt in 2Q16 was Ps. 13,749 million, while GICSA’s proportional debt was Ps. 9,157 million, resulting in a loan-to-value ratio of 27%.

Pipeline

• During June, GICSA started the formal delivery of commercial spaces in Forum Cuernavaca and La Isla Vallarta.
• As of the close of the quarter, the commercialization of properties under development reached 166,392 m2 of GLA under contract and under negotiation. This represents 44.5% of the total space comprising projects in construction, and a 31.5% increase in square meters leased, compared to the prior quarter.

For a full version of GICSA’s Second Quarter 2016 Earnings Release, please visit:http://www.gicsa.com.mx/inversionistas?id=1

Conference Call

GICSA cordially invites you to its First Quarter 2016 Conference Call

Friday, April 29, 201612:00 p.m. Eastern Time11:00 a.m. Mexico City Time

To access the call, please dial:1-800-311-9401 U.S. participants1-334-323-7224 International participantsPasscode: 87477

About the Company

GICSA is a leading company in the development, investment, commercialization and operation of shopping malls, corporate offices and industrial warehouses well known for their high quality standards, which transform and create new development spaces, lifestyles and employment in Mexico, in accordance to its history and executed projects. As of March 31, 2016, the Company owned 13 income-generating properties, consisting of seven shopping malls, four mixed use projects (which include four shopping malls, four corporate offices and one hotel), and two corporate office buildings, representing a total Gross Leasable Area (GLA) 619,566 square meters, and a Proportional GLA of 391,134 square meters. Since June 2015, GICSA is listed on the Mexican Stock Exchange under the ticker (BMV: GICSA B).

Forward-Looking Statements

This press release may contain forward-looking statements, and involve risk and uncertainty. The words “estimates”, “anticipates”, “projects”, “plans”, “believes”, “expects”, “seeks” and similar expressions, are intended to identify forward-looking statements. Grupo GICSA warns readers that declarations and/or estimates mentioned in this document, or stated by Grupo GICSA’s management team, are subject to a number of risks and uncertainties that could be in function of various factors that are out of Grupo GICSA’s control. Future expectations reflect Grupo GICSA’s judgement at the date of this document. Grupo GICSA reserves the right or obligation to update information contained in the report or derived from it. Past or present performance is not an indicator of future performance.

Grupo GICSA warns that a significant number of factors may cause actual results to differ materially from estimates, objectives, expectations, and intentions expressed in this report. Neither the Company or any of its subsidiaries, affiliates, directors, executives, agents or employees may be held responsible before third parties (including shareholders) for any investment, decision, or action taken in relation to the information included in this document, or by any special damage or similar that may result.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160728006730/en/

in Mexico:

GICSA

Diódoro Batalla - Chief Financial Officer

Rodrigo Assam - Investor Relations Officer

5255-5148-0400 Ext. 4444 / Ext. 4447

[email protected]

[email protected]

or

in New York:

i-advize Corporate Communications, Inc.

Rafael Borja / Maria Barona

i-advize Corporate Communications

212-406-3693/3691

[email protected]

[email protected]

Source: GRUPO GICSA, S.A.B. de C.V.

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