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03 13-2008 - 4 q07 earnings presentation

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03 13-2008 - 4 q07 earnings presentation

  1. 1. 4Q07 Earnings Release4Q07 Earnings Release March 13th, 2008
  2. 2. Sector’s overview and CR2 Real Estate Sector had a strong increase with the return of long-term mortgages, encouraged by the stable macro-economic climate, decline in interest rates, higherg y , , g income levels and better legal framework related to mortgage Apr/07: IPO funding of R$ 307 million (Bovespa: CRDE3) 77% of the CR2’s landbank of R$ 3.6 billion focused on low income segment; R$ 2.5 billion guarantee with a signed agreement with the Caixa Econômica Federal Expansion to São Paulo Metropolitan area with focus on low income segment; In partnership with Unibanco we developed an individualized mortgage to homebuyers: bring the client to the bank immediately from the beginning of sales transaction improves the projects cash flowimproves the projects cash flow 1
  3. 3. Highlights 2007 Total Launches amounted to R$ 773 million, CR2’s share R$ 535 million increase of 1,289% and 1,500% over 2006, respectively, % , % , p y Launch of 6 developments: 4,068 units Increase of 1,595% over 2006 Entrance in the Mid-Low Income segment (average price of units ranging from R$ 120,000 to R$ 200,000). Launched PSV CR2 (R$ million) Total Launches PSV (R$ million) 534 9 350.4 773 5 463.5 534.9 77 8 30.7 76.1 55 7 773.5 129.7 58.9 121.5 2006 1Q07 2Q07 3Q07 4Q07 2007 33.4 77.8 2006 1Q07 2Q07 3Q07 4Q07 2007 55.7 2
  4. 4. Launches 2007 Splendore Valqueire Development with Unibanco of a new type of mortgage – individualized mortgageg g Mid-Low Income segment 1st Phase: Accumulated sales of 90% 2nd Phase: 3 towers with 160 units in 2Q08 Total potential PSV of R$ 25 million 3
  5. 5. Launches 2007 Parque das Águasq g Localization: Alcântara in São Gonçalo (RJ) Mid L I tMid-Low Income segment Total PSV: R$ 509 million In just two weeks, more than 350 units were sold 4
  6. 6. Highlights 2007 Total Contracted Sales of R$ 221.7 million and CR2’s share of R$ 141.6 million, more than 1,100 units sold Net Revenue reached R$ 39.8 million G&A Expenses: R$ 8 million Selling Expenses: R$ 5 8 millionSelling Expenses: R$ 5.8 million Brokerage Expenses: R$ 2.3 million were booked as soon as they were incurred Net Income, adjusted by IPO expenses, increased 1,110% to R$17.9 million Revenues to be recognized of R$199.3 million and Results to be recognized of R$55 million 5
  7. 7. Landbank Total PSV CR2 PSV R$ MM R$ MM Duque de Caxias Caxias (RJ) Low Income 1Q08 5 66% 3 % CR2Development Localization Segment Launching Duque de Caxias Caxias (RJ) Low Income 1Q08 5 66% 3 Mirante Bonsucesso Guarulhos (SP) Low Income 1Q08 28 86% 24 Henrique Costa Jacarepaguá (RJ) Mid-Low 1Q08 29 70% 20 Residencial Itamarati Santo André (SP) Mid-Low 2Q08 42 86% 36 Campo Grande I Cpo. Grande (RJ) Mid-Low 2Q08 45 90% 41 Nova Iguaçu I Nova Iguaçu (RJ) Low Income 2Q08 120 93% 112 Estrada do Campinho Cpo. Grande (RJ) Low Income 2Q08 61 80% 49 Splendore Valqueire II Valqueire (RJ) Mid-Low 2Q08 25 80% 20 Água Chata Guarulhos (SP) Low Income 2Q08 67 86% 57 Warehouse ABEAR Barra da Tijuca (RJ) Commercial 3Q08 230 70% 161j ( ) Estrada do Madureira I Nova Iguaçu (RJ) Low Income 3Q08 80 70% 56 Juquiá Santo André (SP) Low Income 3Q08 25 86% 22 Lote B-3 Barra da Tijuca (RJ) Middle 3Q08 58 60% 35 Parque das Águas III e IV Alcântara (RJ) Mid-Low 4Q08 168 80% 134 Estrada do Madureira II Nova Iguaçu (RJ) Low Income 4Q08 80 70% 56Estrada do Madureira II Nova Iguaçu (RJ) Low Income 4Q08 80 70% 56 Barrantes Barra da Tijuca (RJ) Commercial 4Q08 120 70% 84 Cidade da Barra Barra da Tijuca (RJ) Commercial 4Q08 1,200 25% 300 Nova Iguaçu II, III e IV Nova Iguaçu (RJ) Low Income From 2008 on 2.341 100% 2.341 1Q08 62 76% 47 2Q08 360 88% 315 3Q08 393 70% 274 4Q08 1.568 37% 574 2008 Total PSV 2.383 51% 1.210 Total PSV from 2009 on 2 341 100% 2 341 6 Total PSV from 2009 on 2.341 100% 2.341 Total Landbank to be Launched 4.724 75% 3.551
  8. 8. Highlights 4T07 and 2008 Guidance Total launches of R$ 463.5 million, CR2’s share of R$ 350 million, representing 60% and 65% of 2007 total launches respectively;60% and 65% of 2007 total launches, respectively; Launch of 4 developments: 3,051 units; Contracted Sales of R$ 85.3 million, CR2’s share of R$ 59.2 million; Net Operating Revenue: R$ 19.4 million; Net Income: R$ 7 million; Positive Net Cash Position: R$ 238 7 million;Positive Net Cash Position: R$ 238.7 million; Guaranteed funding for 2008 launches; Guidance of 2008 launches; CR2’s PSV of R$ 1.2 billion. 7
  9. 9. IR Contact R é i F t dRogério Furtado CFO and IR Officer e-mail: rogerio@cr2.com.brg @ Daniel Magno IR MIR Manager e-mail: dmagno@cr2.com.br www.cr2.com.br/ir phone: +55 (21) 3095-4600
  10. 10. Disclaimer This release contains forward looking statements relating to the prospects of theThis release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of the Company. These are merely projections and, as such, are based exclusively on the expectations of the Company’s management concerning the futurey p p y g g of the business and its continued access to capital to fund its business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in the Company’s filed disclosure documents and are therefore subject to change withoutCompany s filed disclosure documents and are, therefore, subject to change without prior notice.

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