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Results 3Q12November 19, 2012
Recent Events Change in the maturity of the debentures   Postponement of 6 month of all installments;   Reduction in the s...
Completion of Projects                                       Total PSV R$126 mm delivered in 3Q12                      Jar...
Completion of Projects          Projects                Delivery Schedule             PSV (R$mm)            UnitsAcqua Par...
Contracted Sales   Gross sales 361 units                Sales cancellations 354 units   177 in Jardim Paradiso            ...
Inventory                   Units in Inventory                   Estoque (unidades)            1379                    127...
Inventory                                     Inventory at Market Price*                      Units in Inventory          ...
Land Bank                                                                     Average Price                  Total PSV   C...
3Q12 Results  Debts Reduction                                          Gross Debt                                         ...
3Q12 Results                          Cash (R$mm)      39.891                                   37.199                    ...
3Q12 Results                  Net Revenue (R$mm)                                    Gross Profit (R$mm)                   ...
Receivables      (R$000)                                    3Q12          2Q12      Receivables from Real Estate Sales    ...
IR ContactInvestor RelationsRogério FurtadoChief Financial and Investor Relations OfficerBruno Barreto SilvaFinancial and ...
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Cr2 Presentation - 3Q12

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Cr2 Presentation - 3Q12

  1. 1. Results 3Q12November 19, 2012
  2. 2. Recent Events Change in the maturity of the debentures Postponement of 6 month of all installments; Reduction in the short term disbursements; Stretching the maturity of an important portion of our debt at low cost. 3Q12 2
  3. 3. Completion of Projects Total PSV R$126 mm delivered in 3Q12 Jardim Paradiso IIB-III Acqua Park I Location: Nova Iguaçu (RJ) Segment: Economy Location: Guarulhos (SP) Segment: Economy Units: 963 % Sold: 47% Units: 415 % Sold: 98% PSV: R$ 88,6mm (%CR2 R$88,6mm) PSV: R$ 37,5mm (%CR2 R$32,0mm) 3Q12 3
  4. 4. Completion of Projects Projects Delivery Schedule PSV (R$mm) UnitsAcqua Park II 4T12 4Q12 12,8 166 Costs are 100% coveredSplendore Valqueire II 4T12 4Q12 12,8 160 SFH (21%) and Crédito Associativo (79%)Acqua Park II* 1Q13 1T13 29,6 166Top Life View 2Q13 2T13 35,9 300 *2 buildings from Acqua II Delivery Schedule: PSV (R$mm) Delivery Schedule: Units 8.088 Units Total PSV of R$1,137.5mm (100% of PSV launched) 902 5.918 95% 652 1.378 126 52 42 326 166 300 121 15 63% 97% 42 13 36 85% 95% Delivered: 9M12 4Q12 1Q13 2Q13 Delivered: From 9M12 4Q12 1Q13 2Q13From 2008 to 2008 to 2011 2011 Sold Inventory CR2 Partners 3Q12 4
  5. 5. Contracted Sales Gross sales 361 units Sales cancellations 354 units 177 in Jardim Paradiso 266 in Jardim Paradiso (67% was already resold ) Vendas Contratadas Totais (R$mm) 77,1 57,4 46,5 10,9 8,7 1T12 1Q12 2T12 2Q12 3T12 3Q12 9M11 9M12 9M12 3Q12 5
  6. 6. Inventory Units in Inventory Estoque (unidades) 1379 1278 - 7,3% 853 846 - 33,3% - 0,8% 2011 1Q12 1T12 2Q12 2T12 3Q12 3T12 3Q12 6
  7. 7. Inventory Inventory at Market Price* Units in Inventory Data 1Q12 2Q12 3Q12 1Q12 2Q12 3Q12 Delivired 146.813 97.915 90.104 1.217 802 800 4Q12 11.094 9.476 9.419 48 41 38 1Q13 2.561 1.829 596 14 10 4 2Q13 - - 678 - - 4 Total 160.468 109.220 100.797 1.279 853 846 *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 0% 1% 6% 12% 14% Under Construction > R$170k Jardim Paradiso - RJ 38% R$171k - R$350k Parque das Águas - RJ 61% 22% 58% Completed R$351k - 1,000k Others RJ 88% Metropolitan Area of SP 3Q12 7
  8. 8. Land Bank Average Price Total PSV CR2 PSV Project City (State) Segment Units % CR2 (R$ 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 3Q12 8
  9. 9. 3Q12 Results Debts Reduction Gross Debt Dívida Bruta Corporate vs. SFH (R$mm) SFH vs. Corporativa (R$mm) 252 242 237 239 213 202 207 123 90 80 110 72 71 77 152 158 142 129 127 132 130 1Q11 1T11 2Q11 2T11 3Q11 3T11 4Q11 4T11 1Q12 1T12 2Q12 2T12 3Q12 3T12 Corporate Debt Dívida Corporativa SFH SFH 3Q12 9
  10. 10. 3Q12 Results Cash (R$mm) 39.891 37.199 34.223 29.741 30.640 26.456 2Q11 2T11 3Q11 3T11 4Q11 4T11 1Q12 1T12 2Q12 2T12 3Q12 3T12 3Q12 10
  11. 11. 3Q12 Results Net Revenue (R$mm) Gross Profit (R$mm) 16,0 68,5 13,5 14,0 12,0 10,0 8,1 32,5 8,0 30,0 5,9 6,0 4,0 2,0 0,0 1T12 1Q12 2T12 2Q12 3T12 3Q12 1T12 1Q12 2T12 2Q12 3T12 3Q12 EBITDA (R$mm) Net Profit (R$mm) 6,0 4,4 100,0% 0,0 70,0% 90,0% 4,0 1T12 1Q12 2T12 2Q12 3Q12 3T12 60,0% 80,0% -2,0 2,0 70,0% 50,0% -4,0 60,0% (3,63) 40,0% - -6,0 50,0% 1Q12 1T12 2Q12 2T12 3Q12 3T12 (6,03) 30,0%(2,0) 40,0% -8,0 (2,1) 30,0% 20,0%(4,0) -10,0 20,0% 10,0%(6,0) (5,1) 10,0% -12,0 (10,65) 0,0% 3Q12 11
  12. 12. Receivables (R$000) 3Q12 2Q12 Receivables from Real Estate Sales 326.178 343.067 Revenues to be Recognized 20.783 34.313 Advances from Clients (15.790) (23.319) TOTAL Receivables from Clients 331.171 354.061 Receivable from Transfer of Receivables 46.075 51.162 Direct Financing 8.812 8.444 TOTAL Receivables 386.058 413.666 Total Receivables (R$000) Total % Total Performed * 141.317 37% 2012 80.947 21% 2013+ (ex. Link) 33.286 9% Link 130.509 34% Total 386.058 100% *R$72mm in Jardim Paradiso 3Q12 12
  13. 13. IR ContactInvestor RelationsRogério FurtadoChief Financial and Investor Relations OfficerBruno Barreto SilvaFinancial and Investor Relations AnalystContact:www.cr2.com.br/irri@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. 3Q12 13

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