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2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
2 q12 presentation
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2 q12 presentation

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  1. Results 2Q12August 16, 2012
  2. Highlights 2Q12Following the Business Plan: continue with the Company’s unleveraging process. Increased sales of the units in inventory; Completion of Jardim Paradiso IIB-III ; Reduction in gross debt. 2Q12 2
  3. Completion of Projects Projects PSV(R$mm) Delivery Schedule Delivery Schedule: PSV (R$mm) Jardim Paradiso IIB-III 89,0 1H12 Acqua Park 67,3 2S12 Total PSV of R$1,137.5mm (100% of PSV launched) Splendore Valqueire II 37,0 2H12 Top Life View 42,0 1H13 902,2 Total 235,3 Expected Budget : Total disbursement until conclusion: -R$42.8mm; 651,5 193,3 42,0 Funding sources 176,1 35,9Delivered: From 2008 2H12 1H13 Construction financing (SFH): +R$25.4mm; to 2011 CR2 Partners Crédito Associativo : +R$29.3mm; 2Q12 3
  4. Contracted Sales 57,4 20,4 13,8 12,3 10,9 6,3 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 2Q12 4
  5. Contracted Sales Inventory in Units 1.396 1.379 1.341 1.278 -33% 853 2Q11 3Q11 4Q11 1Q12 2Q12 2Q12 5
  6. Inventory Inventory at Market Price* Inventory in Units* Date 1Q12 2Q12 ∆ 1Q12 2Q12 ∆ Delivered 65.518 44.343 (21.175) 428 276 -152 3Q12 81.295 53.572 (27.723) 789 526 -263 4Q12 11.094 9.476 (1.618) 48 41 -7 1Q13 2.561 1.829 (732) 14 10 -4 0 0 Total 160.468 109.220 -51.248 1.279 853 -426 *Inventory %CR2 at Market Price in R$mm Inventory at Market Value Inventory at Market Value Inventory at Market Value Construction Status Average Price Region 2% 8% Under Construction > R$170k Capital and Metropolitan Area of RJ 44% 48% R$171k - R$350k 50% Metropolitan Area of SP 56% Completed R$351k - 1,000k 92% 0% 2Q12 6
  7. Land Bank Average Price Total PSV CR2 PSV Project City (State) Segment Units % CR2 (R$ 000) (R$ mm) (R$ mm) Cidade Paradiso Nova Iguaçu (RJ) Economy 95 23.183 2.202 2.202 100% Parque das Águas São Gonçalo (RJ) Economy 137 3.253 446 357 80% Sta. Cecília – Madureira Nova Iguaçu (RJ) Economy 100 3.500 350 350 100% Diamond White (Chafi Chaia) Campo Grande (RJ) Medium 518 42 22 17 80% Diamond Black (Chafi Chaia) Campo Grande (RJ) Commercial 316 117 37 30 80% Manaú 2 Guarulhos (SP) Economy 109 450 49 42 86%Top Life Village (Colônia Paraíso) S. J. Campos (SP) Economy 100 392 39 34 86% Total 102 30.937 3.146 3.032 96% % Projects PSV on our Land bank 5% 11% Cidade Paradiso 14% Parque das Águas 70% Sta. Cecília – Madureira Outros 2Q12 7
  8. Jardim Paradiso Units of Jardim Paradiso IIB-III finished and awaiting for thecertificate of acceptance of occupancy Photos from the scene 2Q12 8
  9. 2012 ResultReduction of R$10.1mm of Corporate Debt Emphasize the amortization of our Gross Debt R$7mm loan with Helbor, whose Corporate vs. SFH (R$mm) balance ended 2Q12 in R$2.8 mm 242 239 and as of today, has been fully paid. 237 213 202 48% 50% 47% 90 80 41% 110 29% 72 41% 29% 25% 71Amortization of R$1.0mm of SFH 25% 21% The biggest being R$7.7mm from 152 158 Parque das Águas IB. R$10mm have 127 142 132 been disbursed and can be mostly explained by Jardim Paradiso project 2Q11 3Q11 4Q11 1Q12 2Q12 R$5.7mm and Valqueire II project R$3.2mm. Corporate Debt SFH Net Debt/Equity (ex-SFH) Net Debt/Equity (including SFH) 2Q12 9
  10. 2Q12 Results Net Revenue (R$mm) Gross Profit (R$mm) 16,0 68,5 13,5 14,0 12,0 10,0 32,5 8,0 5,9 6,0 4,0 2,0 0,0 1Q12 1T12 2Q12 2T12 1Q12 1T12 2Q12 2T12 EBITDA (R$mm) Net Profit (R$mm) 6,0 4,4 100,0% 0,0 70,0% 90,0% 1Q12 1T12 2Q12 2T12 4,0 -2,0 60,0% 80,0% 2,0 70,0% 50,0% -4,0 60,0% -3,6 40,0% - -6,0 50,0% 30,0% 1Q12 1T12 2Q12 2T12(2,0) 40,0% -8,0 20,0% 30,0%(4,0) -10,0 10,0% 20,0%(6,0) (5,1) 10,0% -12,0 -10,7 0,0% 2Q12 10
  11. Receivables (R$000) 2Q12 1Q12 Receivables from Real Estate Sales 343.067 322.323 Revenues to be Recognized 34.313 44.928 Advances from Clients (23.319) (28.964) TOTAL Recevables from Clients 354.061 338.287 Receivable from Transfer of Receivables 51.162 58.823 Direct Financing 8.444 8.024 TOTAL Receivables 413.666 405.134 Total Net Total Receivables (R$000) SFH Receivables Receivables Performed - SHF Paid Down 114.429 - 114.429 Performed - Amortizating SFH 39.385 16.561 22.824 To be Performed - 2012 105.197 54.002 51.195 2013 + 154.656 - 154.656 Total 413.666 70.563 343.104 2Q12 11
  12. IR ContactInvestor RelationsRogério FurtadoChief Financial and Investor Relations OfficerContact:www.cr2.com.br/riri@cr2.com.brPhone: +55 (21) 3095-4600 / 3031-4600This presentation contains certain statements that are neither reported financial results or other historical information. They are forward-looking statements.Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied bythe statements. Many of these risks and uncertainties relate to factors that are beyond CR2’s ability to control or estimate precisely, such as future marketconditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators, the Companys ability to continue to obtainsufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic ortechnological trends or conditions, inflation and consumer confidence, on a global, regional or national basis.Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. CR2 does notundertake any obligation to publicly release any revisions to these forward looking statements to reflect events or circumstances after the date of thispresentation. 2Q12 12

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