1. PDG Realty reported strong operational and financial results for 1Q09, with contracted sales reaching R$420 million and net revenue increasing 36% to R$312 million.
2. The company launched R$472 million worth of projects in 1Q09, with 79% in the low income segment. PDG Realty's landbank grew 13% to R$7 billion.
3. For 2009, PDG Realty revised its launch guidance upward to R$2.8-3.5 billion from R$2-3 billion previously, to capture opportunities from the new housing program.
Ensayo detallando la censura decretada por el gobierno de facto autodenominado Revolución Argentina a la primera revista de humor político argentina 'Tía Vicenta'. Recorrido minucioso de los detalles de la veda para abordar lo que consideramos determinante para la prohibición, con el objeto de desplazar la creencia convencional que la censura fue causada por revelar un indiscreto sobrenombre presidencial en una de sus caricaturas. Definitivamente, hubo un poco más que eso.
Anécdota atribuída a Albert Einstein cuando aún era un estudiante. Realmente, no nos consta si es o no apócrifa, pero aún siéndolo, la idea vale la pena un pensamiento.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
2. 1Q09 Highlights
43 THOUSAND UNITS ELEGIBLE TO HOUSING PROGRAM IN LANDBANK;
APROXIMATELY 60% OF THE UNITS TO BE LAUNCHED IN 2009 ARE ELEGIBLE TO THE
HOUSING PROGRAM;
STRATEGIC PLANNING CONTEMPLATES SIGNIFICANT INVESTMENTS TO TARGET THE
HOUSING PROGRAM.
CONTRACTED SALES PRO RATA PDG REALTY REACHED R$420 MILLION;
LAUNCHINGS PRO RATA PDG REALTY TOTALED R$472 MILLION;
OPERATIONAL PDG REALTY SOLD 49% OF THE UNITS LAUNCHED WITHIN THE 1Q09;
HIGHLIGHTS 1Q09 CONTRACTED SALES OVER TOTAL SUPPLY (“VSO”) REACHED 21%;
SALES FROM INVENTORY REACHED R$213 MILLION;
76% OF LAUNCHES AND 79% OF SALES OCCURRED IN THE LOW INCOME SEGMENT.
.
NET REVENUE REACHED R$312.3 MILLION IN 1Q09, INCREASING 36% WHEN COMPARED
TO 1Q08 (non audited);
FINANCIAL EBITDA REACHED R$64.6 MILLION IN 1Q09 WITH 21% OF MARGIN, REPRESENTING A 66%
HIGHLIGHTS 1Q09 INCREASE WHEN COMPARED TO 1Q08;
* NET INCOME REACHED R$50.8 MILLION IN 1Q09 WITH 16% MARGIN, REPRESENTING A
67% INCREASE WHEN COMPARED TO 1Q08 (non audited).
2009 LAUNCHES GUIDANCE REVISION:
•CURRENT GUIDANCE: R$2.0 BILLION- R$3.0 BILLION
HIGHLIGHTS •NEW GUIDANCE: R$2.8 BILLION - R$3.5 BILLION
APROOVAL OF ISSUANCE OF UP TO R$276 MILLION IN CONVERTIBLE DEBENTURES, WITH
SUBSCRIPTION GUARANTEES FROM BNDES REACHING R$155 MILLION.
2
3. Recent Events
PDG Realty and the housing program :
Since the housing program inception, PDG Realty has taken benefit from the new conditions offered to our
final clients. Below we show the breakdown of units to be launched within 2009 by price range before and
after the housing program:
Breakdown by price range of Launches before and after Guidance revision
R$2.8 billion to R$3.5 billion
12% - 14%
over R$ 250 th
R$2.0 billion to R$3.0 billion
26% - 28%
19% - 21%
units from R$ 130 to R$ 250 th
25% - 27%
39% - 41%
units from R$ 100 to R$ 130 th
58% - 62%
26% - 28%
37% - 41% 32% - 34%
units from R$ 70 to R$ 100 th
12% - 14%
Launches before Housing Program Launches after Housing Program
3
4. Recent Events
Guidance revision for 2009 launches
In line with the recent improvement in market conditions we are revising our guidance for 2009 launchings
from R$2.0 billion to R$3.0 billion to the R$2.8 billion to R$3.5 billion range.
Current Guidance (R$ New Guidance (R$
billion) billion)
2.0 - 3.0 2.8 - 3.5
Convertible Debentures Issuance
We have recently announced the issuance of convertible debentures with underwriting guarantee of PDG
Realty´s controlling shareholder and Banco Nacional de Desenvolvimento Econômico e Social (BNDES). Below
we highlight the main characteristics of the issuance (further information can be obtained in our IR website).
•Main details:
•Issuance Date: April 15th, 2009
•Nominal Unit Value: R$ 10,000.00
•Quantity: up to 27,600
•Term: 42 months from issuance date
•Maturity: October 15th, 2012
•Conversion Price: R$17.00
•Rate: CDI + 2% p.a.
4
•Interest Payment: Semi-annual
5. Recent Events
PDG Realty now controls 100% of it´s main investments
•In April 1st, 2009 we early exercised the option to acquire the remaining 30% stake in CHL. With this acquisition we
now own 100% of our main investments Goldfarb and CHL. Parallel to this movement of consolidation, we are
conducing the full integration of our business units so that all companies may be under the same back office and I.T.
platform.
Fully Consolidated Investments with
integrated back offices
Co - Developments P.E Investments
5
6. Operational Highlights - Sales
Contracted Sales reached R$521 million in 1Q09 with PDG Realty´s pro rata stake totaling R$420 million.
We sold R$207 million from 1Q09 launchings and R$213 million from inventories.
Contracted Sales pro rata (R$ mln) Units Sold
3,864
467
420 3,354
1Q08 1Q09 1Q08 1Q09
Segmentation of Contracted Sales 1Q09 Geographic Breakdown of Contracted Sales 1Q09
Goiás, 6%
Land Parceling, 4% High, 1% Mato Grosso, 4%
Commercial, 0% Mid - High, 11% Paraná, 2%
Mid, 5% Espírito Santo, 0%
São Paulo, 32%
Rio de Janeiro, 12%
Low Income, 79%
SP - other
cities, 43%
6
7. Operational Highlights - Sales
The charts below demonstrate the sales speed reached by the developments within its quarter of launch and the breakdown
of PSV from inventory sold in terms (%) of total contracted sales:
Contracted Sales from same quarter launch (%) / Launched pro rata PSV (R$ mln)
800
Contracted Sales from Inventory (%) / Total Contracted Sales (R$ mln)
500.0
700
450.0
600 704 738
400.0
573 597 467 472 420
500 350.0 448
300.0 425
400 472
250.0
300 200.0
200 150.0
54% 51% 43% 46% 51%
100.0
34% 36% 32%
100 44%
50.0 20%
0 0.0
1Q08 2Q08 3Q08 4Q08 1Q09 1Q08 2Q08 3Q08 4Q08 1Q09
Launches Contracted Sales Total Sales Sales from Inventory
7
8. Operational Highlights - Sales
The table below shows PDG Realty´s historical track record of launches and its respective sales position and aging of units in
inventory. We can notice that 78% of all the units launched so far have been sold until the end of the 1Q09 and that
approximately 87% of the total inventory value comes from units launched in 2008 and 1Q09.
8
9. Operational Highlights - Sales
Below we demonstrate our weekly sales of units average including the month of April/2009, witch had a positive impact due
to the housing program (launched in April 13th, 2009).
Weekly Sales Average Weekly Sales Average
346
269
231
253
1Q08 1Q09 April / 08 April / 09
9
10. Operational Highlights - Launches
Total Launched PSV reached R$664 million in 1Q09, with PDG Realty´s stake totaling R$472 million distributed across 24
projects.
Launched pro rata PSV (R$ mln) Units Launched
573 4,204
472
4,006
1Q08 1Q09 1Q08 1Q09
Segments - Launched pro rata PSV 1Q09 Geographic Breakdown of 1Q09 Launches
Land Parceling, 4% Goiás, 3%
Mato Grosso, 6%
Mid - High, 14%
Paraná, 5%
São Paulo, 36%
Mid, 5%
Rio de Janeiro, 23%
Low Income, 76%
SP - other
cities, 27%
10
11. Operational Highlights - Launches
Below, we highlight some projects launched with different partners in 1Q09:
RESIDENCIAL MÔNACO
Company Goldf arb
Location Cuiabá/ MT
Launch February/2009
Total PSV R$ 38 mln
Units 376
% sales 93%
GRIFFE BOTAFOGO
Company CHL
Location Rio de Janeiro / RJ
Launch March/2009
Total PSV R$ 30 mln
Units 37
% sales 89%
ALPHAVILLE NOVA ESPLANADA
Company Cipasa
Location Votorantim / São Paulo
Launch March/2009
Total PSV R$ 70 mln
Units 501
% sales 89%
11
12. Operational Highlights - Landbank
Our current pro rata landbank reaches R$7.0 billion, (distributed in 211 projects), representing a 13% growth when compared
to the 4Q08.
In the chart below, we present the breakdown of the residential units in PDG Realty´s landbank by price range. We can notice
that 43 thousand units are eligible to the housing program (units upt to R$ 130 th)
Residential
Unit Price % Main Source of Funding
units
up to R$ 100 th 31,476 46.6% Credito Associativo + SFH + Housing Package
Low Income
from R$ 100 th to R$ 130 th 11,463 17.0% Credito Associativo + SFH + Housing Package
Units
from R$ 130 th to R$ 250 th 19,332 28.6% SFH
Mid to High from R$ 250 th to R$ 500th 2,398 3.6% SFH
Units over R$ 500 th 2,821 4.2% Market Rates
67,490 100.0%
Landbank Segmentation - Pro Rata PSV Landbank Geografic Distribution - Pro rata PSV
Land
Parceling, 1.3% High, 1.0% AR, 4.5%
Commercial, 0.4 Mid - GO, 3.3% SP, 10.6%
% High, 6.5%
Mid, 5.1% MT, 0.4%
SC, 0.8%
GO, 11.5%
PR, 2.1%
MG, 2.7%
ES, 2.3%
SP - other
cities, 46.3%
Low
RJ, 15.5%
Income, 85.8% 12
13. Financial Highlights 1Q09
Net Revenues - R$ mln Gross Profit - R$ mln
312 91
70
230
Margem
39,4%
Margem
37,7%
1Q08 1Q09 1Q08 1Q09
EBITDA - R$ mln Net Income - R$ mln
65
51
39
30
1Q08 1Q09 1Q08 1Q09
13
14. Financial Highlights 1Q09
11,638 law adjustments
Net Revenues
Pre 11.638 Post 11.638
PV Swaps
adjustments adjustments
305,729 (+) 1,324 (+) 5,215 (=) 312,268
Margem
39,4%
Cost of Goods Sold (COGS)
Margem
Pre 11.638 Capitalized 37,7% Post 11.638
Swaps Provisions
adjustments Interest adjustments
(199,616) (+) (16,936) (+) (4,068) (+) (309) (=) (220,929)
Commercial Expenses
Pre 11.638 Capitalized Post 11.638
adjustments Expenses adjustments
(8,964) (+) (9,770) (=) (18,734)
General and Administrative Expenses
Stock
Pre 11.638 Post 11.638
Options
adjustments adjustments
Plan
(19,345) (+) (2,969) (=) (22,314)
14
15. Financial Highlights 1Q09
Indebtedness
Debt (excludes SFH and partners in projects - already considered into SPC's cash flow) - schedule after 1Q09 and position in the end of period ( R$
thousand)
Payments Balance
100,000 700,000
90,000
600,000
80,000
Principal and Interest Payments
70,000 500,000
60,000
400,000
Balance
50,000
300,000
40,000
30,000 200,000
20,000
100,000
10,000
0 0
Debt Ratios (R$ thousand)
Cash and Cash equivalents 187,053
Indebtness (976,812)
Net Debt 789,759
Equity 1,595,345
Debt to Equity 61.2%
Net debt to Equity 49.5%
15
16. Financial Highlights 1Q09
Indebtedness
Below we present the Indebtedness breakdown in the end of 1Q09 (R$ thousand):
SFH Debentures Consolidated per Creditor
Position: 359,009 Position: 255,314 Total: 976,812
Index: TR Index: CDI Debenture holders 26.14%
Interest per year: 10.60% Interest per year: 0.90% Votorantim 10.92%
Creditor: Others Creditor: Bradesco BBI Unibanco 10.90%
Duration: 15 months Duration: 46 months Bradesco 9.53%
Coupon: Monthly Coupon: Semi Annual (jan/jul) ABN Amro 42.51%
Principal on project's maturity Principal in 4 annual payments since july, 2011 Duration: 23 months
Partnerships in Projects Corporate Debts Consolidated per Index
Position: 7,183 Position: 355,306 Total: 976,812
Index: IGPM / INCC Index: CDI % of CDI 62.51%
Interest per year: 12.00% Interest per year: 2.37% TR 36.75%
Creditor: Partners Creditor: Others IGPM / INCC 0.74%
Duration: 27 months Duration: 16 months Duration: 23 months
16
17. Contacts:
For any additional information, please contact :
• Michel Wurman - CFO and Investor Relations Officer
• João Mallet, CFA - Investor Relations Manager
• Gustavo Janer – Financial and Investor Relations Analyst
• IR Team: ri@pdgrealty.com.br
• Phone: + 5521 3504-3800
• www.pdgrealty.com.br
17