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Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
Apresentação resultados eng 2 t10 final
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Apresentação resultados eng 2 t10 final

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  • 1. 2Q10 Conference Call Presentation Results
    Presenters
    Marcos Lopes – CEO
    Francisco Lopes – COO
    Marcello Leone – CFO and IRO
  • 2. Forward-looking statements
    This presentation does not constitute or form part of any offer, or invitation or solicitation of any offer to purchase, sell or subscribe for shares or other securities of the Company, nor shall this presentation or any information contained herein form the basis of, or act as inducement to enter into, any contract or commitment whatsoever.
    This presentation contains financial and other information related to the business operations of Lopes –LPS BrasilConsultoria de Imóveis S.A and its subsidiaries (“Lopes” or the “Company”) as of and for the period ended June 30th 2010. It should not be considered as a recommendation for prospective investors to sell, purchase or subscribe for securities of the Company. The information presented herein is in summary form and does not purport to be complete. No reliance should be placed on the accuracy completeness of the information contained herein, and no representation or warranty, express or implied, is given on behalf of the Company or its subsidiaries as to the accuracy completeness of the information presented herein.
    This presentation contains forward-looking statements. Investors are advised that whilst the Company believes they are based on reasonable assumptions by Management, forward-looking statements rely on current expectations and projections about future events and financial trends, and are not a guarantee of future results. Forward-looking statements are subject to risks and uncertainties that affect or may affect business conditions and results of operations, which therefore could materially differ from those anticipated in forward-looking statements due to several factors, including competitive pressures, Brazilian macroeconomic conditions, performance of the industry, changes in market conditions, and other factors expressed or implied in these forward-looking statements or disclosed by the Company elsewhere, factors currently deemed immaterial.
    The forward-looking statements contained herein speak only as of the date they are made and neither Management, nor the Company or its subsidiaries undertake any obligation to release publicly any revision to these forward-looking statements after the date of this presentation or to reflect the occurrence of unanticipated events.
    2
  • 3. Program
    Highlights
    Operational Results
    Financial Results
    3
  • 4. Highlights
    4
  • 5. Highlights
     
    In this quarter, Lopes reached the highest levels of its key indicators: Contracted Sales, Mortgages, Net Revenue, EBITDA and Net Income.
    Contracted Sales totaled R$3.4 billion in 2Q10, 56% higher than 2Q09.
    Lopes sold 12,369 units in Brazil in 2Q10, 49% higher than 2Q09, of which 34% were in the low-income segment (units prices up to R$150,000).
    Sales Speed Over Supply stood at 36.4%, when isolating the low-income segment, Habitcasa´s Sales Speed Over Supply was 65.4% in the quarter, both among one of the largest sales speed of the sector.
    In 2Q10, CrediPronto! granted mortgage loans worth R$146.0 million. Since its operational startup, CrediPronto! has registered mortgage portfolio of R$436.8 million.
    The Company takes this opportunity to announce the new financing guidance for Credipronto! for 2010, which is R$500 million.
    Lopes Net Revenue totaled R$80 million, an increase of 48% when compared to the 2Q09.
    Pro-forma EBITDA in 2Q10 was R$39.1 million, an increase of 82% over 2Q09. Pro-forma EBITDA Margin in the period was 49%.
    Lopes posted Pro-forma Net Income of R$24.0 million in 2Q10, up 121% on the same period last year. Pro-forma Net Margin was 30% in 2Q10.
    In line with its M&A strategy, Lopes has already acquired VNC in São Paulo and Self in Niterói, Rio de Janeiro, both fucused in the secondary market. The Company also structured the foundation for the acquisition of the control of Patrimóvel, in Rio de Janeiro.
    5
  • 6. Operational Results
    6
  • 7. Launches
    GVS Launched
    UnitsLaunched
    (R$ MM)
    161%
    7
  • 8. Contracted Sales
    Contracted Sales
    UnitsSold
    (R$ MM)
    12,369
    3,410
    49%
    56%
    8,321
    2,183
    8
  • 9. Sales Speed over Supply
    Lopes' Consolidated Sales Speed
    Habitcasa’s Sales Speed
    9
    *Management information,
    The Sales Speed over Supply is obtained based on the quarter’s contracted GVS compared to inventory and launches.
  • 10. Sales by Income Segment – Primary and Secondary Markets
    Contracted Sales
    Total Contracted Sales = R$3,410 million
    2Q10
    2Q09
    UnitsSold
    Total unitssold = 12,369
    2Q10
    2Q09
    10
  • 11. Contracted Sales by Geographic Region – Primary and Secondary Markets
    Contracted Sales
    2Q10
    2Q09
    11
  • 12. PrimaryMarket
    Contracted Sales
    UnitsSold
    (R$ MM)
    55%
    12
  • 13. SecondaryMarket
    Contracted Sales
    UnitsSold
    (R$ MM)
    67%
    13
  • 14. CrediPronto!
    Financed Volume
    (R$ MM)
    375%
    436%
    CrediPronto! financed in the 2Q10 R$146 million, ammounting to 521 contracts with an average payment term in the period of 270 months. In 2010 Credipronto! has already registered mortgage portfolio of R$232.9 million .
    14
  • 15. CrediPronto!
    Monthly Progress of the MortgagePortfolio
    (R$ MM)
    26%
    15
  • 16. Some ExamplesofSuccessfulProjects 2Q10
    100% SOLD
    100% SOLD
    100% SOLD
    99% SOLD
    96% SOLD
    Maximo Guarulhos
    Guarulhos– April
    Cury
    Passione Freguesia
    São Paulo - June
    Even
    Helbor Office II
    São Paulo- June
    Helbor
    Rossi Peasseio
    Porto Alegre- June
    Rossi
    UpperSide Batel
    São Paulo- May
    Ciromac
    96% SOLD
    95% SOLD
    91% SOLD
    91% SOLD
    90% SOLD
    Rossi Ideal Vila Itacaré
    Serra- May
    Even
    Largo Boa Vista
    Curitiba- June
    Equilíbio
    Vida Viva Clube Moinho
    Porto Alegre- May
    MelnickEven
    Residencial Alvorada
    Limeira - May
    Rio Verde
    CodeBerrini
    São Paulo - June
    Even
    90% SOLD
    89% SOLD
    87% SOLD
    88% SOLD
    87% SOLD
    Rossi IdealBoulevard A
    Betim– April
    Rossi
    L Itaim
    São Paulo – April
    Trisul
    BoulevardSide
    Salvador– April
    Odebrecht
    Premmio Vila Nova
    São Paulo - June
    Kallas
    Bela Cintra
    São Paulo - June
    Even
    16
  • 17. Some ExamplesofSuccessfulProjects 2Q10
    85% SOLD
    84% SOLD
    84% SOLD
    83% SOLD
    84% SOLD
    Parque das Flores - Bosque
    São Paulo– April
    Agre
    Dream Guarulhos
    Guarulhos– April
    Open (Even)
    Via Parque
    Serra– June
    Metron
    Campos do Conde São Clemente
    Monte Mor– May
    Agre
    HelborOfficesChampagnat
    Curitiba– June
    Helbor
    75% SOLD
    83% SOLD
    79% SOLD
    82% SOLD
    80% SOLD
    Dueto Parque Prado
    Campinas– June
    Rossi
    Noveau Vila da Serra
    Nova Lima– April
    Even
    TheGraden Orquidário
    Santos– June
    Odebrecht
    Magno Água Verde
    Curitiba– April
    Tarjab
    Pátio da Pedra
    Palhoca– April
    Pedra Branca
    73% SOLD
    73% SOLD
    70% SOLD
    70% SOLD
    70% SOLD
    Residencial Barcas
    Parnamirim– May
    MRV
    Buena Vista ResidenceClub
    Fortaleza– April
    J Simoes Engenharia
    PateoMondrian
    São Paulo– April
    Gafisa
    Alpha Park Residencial
    Alphaville– April
    Odebrecht
    Rossi Orquidario
    Santos– April
    Rossi
    17
  • 18. Financial Results
    18
  • 19. 19
    338
    Net Commission by Market
    Net Commission
  • 20. Results 2Q10
    TheCrediPronto! Revenuedoes not include the mortgages financial spread
    Without Pronto! and Credipronto!’s effect, Lopes’ EBITDA would’ve been R$39 millions, with a 52% margin and a Net Income of R$25 million, with a 33% margin.
    Brasília had a R$8.3 million Income, while Campinas had a R$2.1 million Income, what explains the minorities Interests of R$6.0 million.
    20
    1 Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.
    2 Pro Forma Net Income is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.
  • 21. GuidanceCrediPronto!
    MortgageGuidance 2010
    43%
    The Company takes this opportunity to announce the new financing guidance for Credipronto! for 2010 which is R$500 million.
    21
  • 22. Gross and Net Revenue
    Net Revenue
    Gross Revenue
    (R$ MM)
    (R$ MM)
    48%
    46%
    22
  • 23. Costs of Services Provided and Operating Expenses
    Operating Costs and Expenses
    (R$ MM)
    The strategic management of costs and expenses of the Company guaranteed the maintenance of their levels over the quarters.
    23
  • 24. Pro Forma EBITDA*
    Pro Forma EBITDA
    (R$ MM)
    49%
    82%
    40%
    Pro Forma EBITDA Margin
    EBITDA Pro Forma without Pronto! and CrediPronto! 2Q10
    (R$ MM)
    24
    * Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.
  • 25. Pro Forma Net Income*
    Pro Forma Net Income
    (R$ MM)
    30%
    121%
    20%
    Pro Forma Net Margin
    Pro Forma Net Income without Pronto! and CrediPronto! 2Q10
    (R$ MM)
    25
    * Pro Forma Net Income is a non-accounting measure drawn up by Lopes, which consists on Net Income excluding the effects of stock option expenses.
  • 26. 2Q10 Performance - ComparativeAnalysis
    Sales, EBITDA Margin, Net Incomeand Net MarginProgress
    Record oftheContracted Sales oftheCompany.
    3,410
    56%
    Contracted Sales
    (R$ million)
    Highest EBITDA ofthehistoryoftheCompany, and a Margin in thesamelevel as in the IPO.
    49%
    46%
    46%
    40%
    +22%
    36%
    EBITDA
    Margin
    Pro-Forma
    23,191
    Highest Net IncomeofthehistoryoftheCompany.
    +134%
    Net Income
    (R$ thousand)
    33%
    30%
    27%
    +49%
    20%
    20%
    Pro-Forma Net Margin
    1Q10
    4Q09
    3Q09
    2Q09
    1Q10
    26
  • 27. Acquisitions Secondary Market
    27
  • 28. Patrimóvel - Acquisition
    2. Lopes receives a permanentcalloption to purchase 31% ofPatrimóvelwithin 150 days for R$51.5 MM*
    1. Atthispresentmoment, Lopes acquirespermanently 10% ofPatrimóvel for R$10 MM
    The Company will consolidate its 20% stake of Patrimóvel in its financials.
    28
    *After 90 days, thecalloptionpaymentbecames CDI adjusted
  • 29. CashPosition
    29
    * The payment will be made if the call option is exercised.
    ** The payments made from 4Q10 are related to earn out installments of the acquisition and the amounts in the above table are based on current market conditions.
  • 30. Next Events
    30

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