Main Revenues, Costs and Expenses
- Main Operating Revenues
Revenue from the sales of inventory from the projects launched (Fazenda Boa Vista, Boa Vista Village, Fasano Cidade Jardim and the pre-launch Boa Vista Estates), which are developed on land already paid and the Company maintains in his landbank, without the existence of swap.
Revenues from the sale of real estate units (apartments and houses) are recognized using the POC (Percentage of Completion) method, in which revenue is allocated according to the cost incurred for the work until its completion. For lots, revenue is 100% recognized in the period in which the sale was made, as the POC method does not apply.
- Main Costs and Expenses
Project construction costs: land, construction material, labor, among others. The construction of the projects is carried out by outsourced companies.
Expenses: administrative (personal, legal, taxes and fees, among others) and commercial (marketing, sales stand, consulting and commissions).
- Main Operating Revenues
The segment revenue comes from the rental of the residences and from the operation of the Clubs (annual fees, spa, amonh others).
- Main Costs and Expenses
Costs: in costs are consolidated the operating expenses of the rented units, specially insurance, in addition to costs related to the operations of the Clubs.
Expenses: the expenses are mostly related to personnel.
- Main Operating Revenues
- Rental Revenue (rent)
Revenue from lease agreements for commercial spaces in the mall that the Company has in its portfolio. These contracts, as a rule, have a term of five years, with annual adjustments on the anniversary of the contract.
Tenants of commercial units generally pay a monthly minimum rent, adjusted annually mostly based on the variation of the General Price Index – Market (IGP-M), and an amount obtained by applying a percentage on gross sales revenue of each lessee.
- Other Operating Revenue
Revenue from assignment of rights of use: the amount paid by the tenant to enter the mall. Its revenue is recognized in the key money income account in straight installments, only after the opening of a store, for the period of the lease agreement.
Revenue from parking: operation of shopping mall parking lots. Revenues from services rendered: condominium management services, telecom services and sale of electricity to shopping malls.
Retail+Digital Revenue: Sale of exclusive national and international brands and other digital operations.
- Main Costs and Expenses
Costs: salaries and benefits of the employees who work in the operational Malls functions, as well as expenses related to the purchase of energy and telecom for re-sale.
Expenses: administrative (expenses with personnel for administrative functions condominium) and commercial expenses (marketing and publicity and advertising).
- Main Operating Revenues
Hospitality:
Revenue from the operation of 10 hotels (São Paulo, Rio de Janeiro, Fazenda Boa Vista, Punta del Este, Angra dos Reis, Belo Horizonte, Salvador, Trancoso and New York). In owned hotels, revenues come from room and apartment rates, in addition to the consumption of food and beverages and other concierge services provided by the hotels. In managed hotels, revenue comes from operating fees.
Gastronomy:
Revenue from the operation of 29 restaurants and bars in 9 cities (São Paulo, Rio de Janeiro, Brasília, Angra dos Reis, Punta del Este, Belo Horizonte, Salvador, Trancoso and New York). Revenue refers to the sale of food and beverages.
Other Revenues: Branding fees for the sale of properties under the Fasano brand and marketing fees. Note: The Company owns 65% of HMI, the holding company that owns the Fasano brand.
- Main Costs and Expenses
Costs
Hospitality: expenses with personnel for the operational functions of the hotels, in addition to maintenance expenses of the facilities (laundry, electricity, repairs, among others).
Gastronomy: expenses with personnel for the operational functions of the restaurants, purchase of food and beverages, maintenance of facilities and rent expenses.
- Main Operating Revenues
- Hangar allocation: revenue from the hangar of aircraft of customers with medium to long-term contracts or through individual customers who keep their aircraft hangared for a shorter period of time.
- FBO (Fixed Based Operations): Services provided such as aircraft cleaning, polishing, among others.
- Fuel Sales: revenue from the resale of fuel to hangared and freelance customers.
- Movements (hangared, freelance and international): revenue resulting from the fees for the use of the runway.
- Air taxi and Catarina Jets: revenue from the use of helicopters and aircraft owned by the Company. NOTE: revenues from international flights are received in dollars ($).
- Main Costs and Expenses
Costs: expenses with personnel for the airport’s operational functions, purchase of fuel (variable cost) and maintenance of own aircraft.
Expenses: expenses with personnel of the administrative functions of the airport, insurance, condominium expenses and depreciation (without cash effect).
- Main Operating Revenues
The distribuition of exclusive national and international brands.
- Main Costs and Expenses
Costs: expenses with the purchase and import of the commercialized goods.
Expenses: administrative (expenses with personnel for administrative functions and stores and rent expenses) and commercial expenses (marketing and publicity and advertising).
- Main Operating Revenues
The revenue form this segment refers to the take rate from the operations of Digital and JHSF ID Membership.
- Main Costs and Expenses
Costs: the cost structure of this segment is negligible end includes expenses related to operation.
Expenses: in this segment expenses are mostly spent on technology to maintain the digital platforms.
- Main Operating Revenues
The revenue comes from fund management (management fee, performance fee, structuring fee, etc.)
- Main Costs and Expenses
Costs: the costs of this segment are related to fund management.
Expenses: the expenses of this segment are mainly composed of personnel expenses.