Mallplaza shoots its profits by more than 100% in the second quarter of the year

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Sep 4 2021

The Chilean group Mallplaza begins to rebound steadily after the effects of the pandemic and in its latest financial report reveals that it has raised its profits to 116% in the second quarter of the year compared to the same period of 2020.

Mallplaza soars its profits by more than 100% in the second quarter of the year – Pulse

According to the Chilean company, this result has been favored mainly by higher revenues, fewer restrictions on its operation and lower administrative expenses, among other factors.

In addition to the above, Mallplaza’s revenues registered a 110% growth compared to the same quarter of 2020 and the gross operating result (Ebitda for its acronym in English) shot up by 1762%, reaching a margin over revenues of 66%.

The company also confirmed a rapid recovery in the flow of visitors as the sanitary restrictions have been advancing, which translated into a growth in sales of 211% in its comparison with the second quarter of 2020 and a flow of visitors around at 33 million.

“To respond to the new and growing challenges we face, speeding up processes and always putting the people and communities of which we are part at the center of our actions; we are working together with our commercial partners, generating new opportunities for development and growth “, shares Fernando de Peña, general manager of Mallplaza and adds that they have incorporated a total of 136,000 square meters of new brands and proposals that will be opening during the remainder of 2021 and 2022.

Regarding the operating area, Mallplaza highlights that during the second quarter of the year its shopping centers operated in scenarios of greater sanitary restrictions, especially in Chile. At the end of the period in question, the company had 58% of operating Gross Profitable Area and 2320 stores open at the regional level.

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