This document summarizes Rossi Residencial's 1Q15 earnings presentation.
The presentation shows that Rossi has improved its cash generation trend in recent years and generated R$494 million in proportional cash over the last 12 months. It also provides updates on Rossi's strategic plan achievements, including a focus on cash generation, G&A efficiency, and increasing Rossi Vendas' stake.
Operational highlights include gross sales results for 1Q15 and details on reducing inventory and focusing on strategic regions. Financial results indicate a reduction in debt levels compared to prior quarters along with details on cash, debt balances, and cash flow drivers.
Solid finish to fiscal 2014
Core sales growth +4%
Adjusted net income +62%
Adjusted EBITDA margin of 21.0%
Adjusted EPS +56% year over year to $0.50
Water Management growth accelerating as expected
+6% core growth … strong momentum in both Zurn and VAG
Acquired Green Turtle in April … proprietary products expand Zurn portfolio
Process & Motion Control end markets stable/improving
+3% core growth with strong performance in U.S. OEM/Distribution
Adjusted EBITDA increases to 29.2% … 300 basis point improvement year over year
Fiscal 2015 guidance of +3% to +5% core sales growth … adjusted EPS growth
of +20% to +28%
Solid finish to fiscal 2014
Core sales growth +4%
Adjusted net income +62%
Adjusted EBITDA margin of 21.0%
Adjusted EPS +56% year over year to $0.50
Water Management growth accelerating as expected
+6% core growth … strong momentum in both Zurn and VAG
Acquired Green Turtle in April … proprietary products expand Zurn portfolio
Process & Motion Control end markets stable/improving
+3% core growth with strong performance in U.S. OEM/Distribution
Adjusted EBITDA increases to 29.2% … 300 basis point improvement year over year
Fiscal 2015 guidance of +3% to +5% core sales growth … adjusted EPS growth
of +20% to +28%
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3. R$ 24 MM received on 1Q5
3
2013-2015 Strategic Plan | Update and Adjustment
Strategic Plan Achievements until 1Q15
Focus Focus on cash generation and profitability
G&A G&A Expenses efficiency
Rossi Vendas Increase Rossi Vendas stake on the total sales
Financing
Transfers
Focus in house restructuring and transfer of financing
Construction Execution of 90% of the construction
Partners
Operation
Income Segment
Increase Rossi´s stake in the launches up to 95% of
the total PSV. excluding JVs Capital Rossi and Norcon
Rossi)
Operations focused on 7 metropolitan regions (+JVs).
where it ranks among Top 3
Focus on medium-/high-income segments (average
price between entre R$ 200 k and R$ 1 million
Land Bank
Disablement of the Land Bank outside from the
launching pipeline
Business Units
Search for financial/strategic partners for
Urbanizadora and Properties
Cash Generation (Proportional) LTM: R$494 MM
Reduction of 12% % vs 1Q14 and 7% vs 4Q14
% Rossi Vendas: 71%
Cash Inflow : R$ 637 MM
Speed of Financial Transfers : 35%
Rossi executes 80% of the construction sites
Shortening construction cycle
Drivers
Focus on the 4 strategic regions – São Paulo,
Campinas, Rio de Janeiro e Porto Alegre + JVs
Average Price: R$ 563 k/unit
% Rossi (c/ JVs): 91%
7. Decreasing of inventory:
Focus on units concluded and to be
delivered, that are resposable for increasing
the potential for financing transfer :
Reduction of 10,6% vs 4Q14
Speed up the simplification process by
disposing of units located in non-strategic
regions
Reduction of -13,1% vs 4Q14
7
Operationals highlights(cont.)
Units in Inventory | Concluded + To be delivered 2015
Units in Inventory1Q15| Non Strategic Regions
8. 8
Landbank
Residential Development:
Total PSV: R$ 9,9 bi (R$ 8,0 bi %Rossi);
Launches up to 2017: R$ 5,3 bi (R$ 4,4 bi %Rossi)
Launches after 2017: R$ 3,0 bil (R$ 2,4 bi %Rossi)
Entreverdes Urbanismo: R$ 4,3 bi (R$1,7bi %Rossi)
Decommissioning: R$ 1,7 bil (R$ 1,2 bil %Rossi)
Launches up to 2017 | Metropolitan Region (% Rossi) Launches up to 2016 | Products (% Rossi)
11. Corporate Gross Debt - IFRS
Quartely Corporate Debt Evolution| R$ MM
Decrease of corporate debt according to
the strategic plan
11
Corporate Debt Schedule | R$ MM
Debt roll over of R$ 100MM to be due in
may 31
Payments schedule distributed in line whith
the expected cash genaration