Yesterday, JHSF (JHSF3) announced that it had received a binding letter of intent from a “proponent”, whose identity was not revealed by the company. In this letter, the proponent expresses interest in acquiring minority shares in shopping centers belonging to the company and its subsidiaries, totaling a value of R$443 million.
The proposal covers the Bela Vista and Ponta Negra shopping malls, along with expansion 3 of Catarina Fashion Outlet and Shops Faria Lima.
The completion of this proposed transaction is subject to the usual conditions for transactions of this nature, including carrying out a due diligence, drafting and signing definitive contracts, in addition to obtaining the necessary corporate and legal approvals.
JHSF: 4TRI23
JHSF (JHSF3) reported a 130.5% higher net profit in 4Q23, reaching R$ 223 million compared to R$ 96.8 million in the fourth quarter of 2022. However, in the accumulated result for 2023, profit fell 22.7% mark R$497.9 million against R$643.7 million in 2022.
Net revenue increased 12.5% in 4QR23, reaching R$494.1 million compared to R$439.4 million in 4QR22. In 2023, revenue fell 17.7% to R$1.5 billion compared to R$1.9 billion in 2022.
Adjusted Ebitda, in turn, rose 58.9% in 4QR23, reaching R$237 million compared to R$149.1 million in 4QR22. In 2023, the indicator fell 27.5% to R$675.6 million compared to R$931.8 million in 4QR22.
The company
The company is a Brazilian company that operates in the sectors of real estate development, incorporation, construction and management of high-end projects. Founded in 1972, JHSF is recognized for its focus on luxury and high-value-added projects, covering various segments, such as shopping centers, hotels, residential condominiums, executive airports and commercial developments.
The company has a significant presence in the Brazilian and international market, with emblematic projects in cities such as São Paulo, Salvador and Manaus, as well as projects abroad, such as in the United States and Uruguay.
JHSF’s main objective is to create differentiated projects that meet the needs of a demanding public, offering quality, sophistication and innovation in its projects. The company also constantly seeks opportunities to expand and diversify its business, remaining one of the main references in the high-end real estate sector in Brazil.
