2Q09 Results Presentation

Investor Relations
2Q09 Results

22
Disclaimer
2Q09 Results Conference Call
This material is a presentation of general background information about Rossi Residencial S.A. (“Rossi”) as of the date of this presentation.
Information contained herein has been summarized and does not purport to be complete. This presentation shall not be considered an advice of
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Section 21E of the Securities and Exchange Act of 1934. Such forward-looking statements and information are only predictions and cannot assure
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uncertainties relating to the operations and business of Rossi and its subsidiaries. As a result of such risks and uncertainties, the actual results of
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contained herein.
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been based on data currently available to its officers and directors, Rossi cannot guarantee future results or events. Rossi does not assume the
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33
2Q09 Results Conference Call
Agenda
Heitor Cantergiani
CEO
Main Highlights of the Period
Leonardo Diniz
Sales Officer
Launches and Sales
Cássio Audi
CFO and IRO
Financial Performance

5
2Q09 Main Highlights
Economic Segment Highlights
 Units sales growth of 143% between 1H09 and 1H08.
 5,012 units launched by the end of July, 2,595 of which in July only.
 Economic segment landbank with 95,000 units.
 54% of the PSV launched in 1H09 has been sold.
Financial Highlights
 Net Income grows 79% in comparison to 1Q09, and reaches R$ 51.2 million.
 Margin increase:
 Gross margin* stable at 34.7% (+ 5.7 p.p. vs 2Q08),
 Ebitda margin** of 24.4% (+ 5.4 p.p. vs 2Q08),
 Net margin of 13.9%.
 Increased efficiency of selling and administrative expenses
Operating Highlights
 Continued and consistent SOS growth since October 2008.
 Recovery of commercial, and medium and high income segments (consolidated sales growth of
65% on 1Q09).
 Net reduction of R$ 167 million in inventories at market value in 1H09
* Excluding financial factors
** Methodology comparable to the maisn competitors – detailed at the Release

6
Economic Segment
and
Housing Package

7
Real Estate Market: Industry and Company Overview
 5,012 units launched by the end of July.
 2,595 units launched in July only.
Units sales growth of 143% between 1H09 and 1H08.
Launches (R$ million) Until July 31
Projects launched 26
Units launched (units) 5,012
Launched PSV – 100% 585
Launched PSV – % Rossi 460
Meta de
Lançamentos
2009
Economic Segment and Housing Package
0
2
4
6
8
1
0
1
2
1
4
Jan Feb Ma
r
Ap
r
May Ju
n
Ju
l
Aug Sep Oct Nov Dec
‘000
units
2,595 units in
July 2009
5,012 units
in 2009
2009
Launches Goal
Monthly growth
Year to date
15

8
Standerized sales and
marketing policy.
Rossi Ideal Sales Channel.
8
Relationship with CEF
Central management
structure and distributed
operation.
Project Development: Villa
Flora, Praças Residenciais and
Rossi Ideal.
Projects approval
Standartized process: cost reduction and
higher speed.
Aluminum plaques for the production of
the monolitic structure.
Operating Structure
NEWSTRUCTURE
Exclusive Projects and
Production for the
Economic Segment
Engineering
Renato Diniz
Economic Segment
Rodrigo Martins
Marketing and
Sales
Financial
Development
and Projects
Centrilized production and
distribution of prefabricated,
atending several construction sites.

9
15.000
20.000
13.000
18.000
2009 2010
Launches Goals
Villa Flora
20,850
Praças Residenciais
9,400
Rossi Ideal
64,950
TOTAL: 95,200 = R$ 9.9 Bi
Units in the Landbank.
Units
 Consolidated landbank and ready for launches.
 Economic segment know-how: products, management and services.
 Expertise in economic construction techniques.
Excelent relationship history with Caixa Econômica Federal for more than 10 years.
Pre approved funding with Caixa Econômica Federal.

10
Real Estate Market: Industry and Company OverviewLaunches highlights until July/09 – Economic Segment
Riviera Praças Residenciais
Lauro de Freitas – BA
220 units
PSV % Rossi: R$ 28.7 million
% sold until July/31: 89%
Rossi Ideal Vila Brasil
Rio de Janeiro – RJ
192 units
Rossi Ideal Vila Jardim
Manaus - AM
1040 units
PSV % Rossi: R$ 41 million
Launch : July
Rossi Ideal Jardim Figueira
Canoas - RS
400 units
PS % Rossi: R$ 42 million
Launch: July
Rossi Ideal Parque Bela
Porto Alegre - RS
260 units
PSV % Rossi: R$ 27 million
Launch : July

12
Launches
Diversification: Launches Breakdown by Income Segment and State –Total PSV 1H09
12
 Growth Recovery
161
454
+183%
52%
27%
9%
9%
3%
Economic Segment
> R$ 500,000
R$ 350,000 to R$ 500,000
Commercial
R$ 200,000 to R$ 350,000
32%
26%
14%
9%
6%
5%
4%
3%
São Paulo (other cities)
Rio Grande do Sul
Paraná
São Paulo (metro. region)
Bahia
Goiás
Rio de Janeiro
Minas Gerais

13
Contracted Sales
Diversification: Sales Breakdown by Income Segment and by State – 1H09
 Growth recovery
38%
21%
16%
12%
10%
3%
Economic Segment
> R$ 500,000
R$ 350,000 to R$ 500,000
R$ 200,000 to R$ 350,000
Commercial
< R$ 200,000
25%
22%
16%
9%
8%
7%
5%
3%
2%
1%
São Paulo (other cities)
São Paulo (metro. region)
Rio Grande do Sul
Paraná
Rio de Janeiro
Bahia
Minas Gerais
Espírito Santo
Goiás
Pernambuco
Ceará
342
506+48%

14
In addition to the strong
performance of the
economic segment, sales
from our other segments
grew by 65% in quarter-on-
quarter terms.
Sales R$ million (% Rossi) 2Q09 1Q09 Var.
Until R$ 200,000 11 7 63%
R$ 200,000 to R$ 350,000 58 30 92%
R$ 350,000 to R$ 500,000 52 38 38%
Above R$ 500,000 92 45 105%
Commercial 50 34 46%
Contracted Sales
+65%
Sales in units 1H09 1H08 Var.
Economic Segment 2,360 973 143%
Economic Segment: 143%
sales growth in
comparison to 1H082360
973
1H08 1H09
143%

15
Nossos Resultados em Números
Sales over supply (SOS) - % Rossi (R$ million) 2Q09 1Q09 2Q09
Initial inventory 1,630 1,770 1,472
Launches 377 143 573
Initial inventory + Launches 2,007 1,913 2,045
Sales in the period 404 283 276
SOS Period 20.1% 14.8% 13.5%
Final inventory in the period 1,603 1,630 1,770
Time for key delivery Ready < 6 months 7 to 12 months
13 to 24
months
> 25
months
Total
Economic Segment 1.6 40.4 49.4 203.3 11.5 306.3
Until R$ 200,000 0.7 1.9 1.2 29.8 - 33.6
From R$ 200,100 to R$ 350,000 17.5 22.2 81.9 136.68 - 258.4
From R$ 350,100 to R$ 500,000 2.8 18.2 73.1 82.4 25.7 202.2
Above R$ 500,100 2.4 18.9 2.6 140.1 297.7 531.9
Commercial 0.7 0.1 2.2 27.3 240.2 270.4
Total 25.7 101.7 280.4 619.7 575.1 1,602.7
2% 6% 17% 39% 36%
 Net reduction of R$ 167 million in inventories in 1H09
 Continued and consistent SOS growth since October 2008
 Only 2% of inventories of ready units: no price pressure
VSO e Estoques

16
Expertise Rossi e Diferenciais Competitivos
Acquisition Method
Expertise Rossi e Diferenciais CompetitivosLandbank
11.8 11.3 13.4 13.8 13.7
4.5 6.0
7.0 6.9 7.2
0
5
10
15
20
25
2Q08 3Q08 4Q08 1Q09 2Q09
Rossi Partners
Landbank (R$ billion)
38%
25%
37%
Units Swap
Financial Swap
Cash
143 sites and 61 cities, not concentrated.
13,257 million m2 buildable area
122,000 units for future launches
 R$ 20.9 billion PSV in landbank; 75% acquired through swaps
Potential PSV (100%): R$ 20.9 billion
% Rossi: R$ 13.7 billion
Land bank PSV in R$ million
2Q09
Total
Total Rossi
20,918 13,786
Breakdown
Launches PSV
Final 1Q09
Changes
Final 2Q09 20,918 13,657
20,677 13,786
(454) (377)
695 249

17
Expertise Rossi e Diferenciais Competitivos
Landbank 2Q09 (in R$ million) - PSV by State and Segment
Estado
Economic
Segment
< R$
200,000
R$200,001 to
R$ 350,000
R$350,001 to
R$ 500,000 > R$ 500,000 Commercial Lots Total %
Amazonas 457 74 66 - - - 597 3%
Bahia - - 879 449 - - - 1,328 6%
Ceará 396 - - 104 - - - 500 2%
Distrito Federal 914 203 - - - 578 - 1,695 8%
Espírito Santo 621 - - - - 116 - 736 4%
Goiás 861 31 - - - - - 892 4%
Mato Grosso do Sul 53 - - - - - - 53 0%
Minas Gerais 1,682 140 36 246 - - - 2,104 10%
Paraná 64 - - - - - - 64 0%
Rio de Janeiro 647 70 534 992 88 - - 2,331 11%
Rio Grande do Norte 155 - - - - 82 - 237 1%
Rio Grande do Sul 2,048 - 586 771 - - - 3,405 16%
São Paulo
(other cities)
1,626 188 1,167 635 344 49 544 4,553 22%
São Paulo
(Metro. region)
351 - 192 622 1,089 30 140 2,423 12%
T O T A L 9,875 706 3,394 3,884 1,521 854 684 20,918 100%
Distribution 47% 3% 16% 19% 7% 4% 3% 100%
Land bank
 Landbank diversified by region and product
 47% of Landbank focused in the economic segment

1818
Rossi Vendas
Rossi Vendas
Number of Brokers 240
São Paulo 90
Porto Alegre 55
Rio de Janeiro 50
Campinas 45
Contracted Sales (100%) totaled R$ 156 million
Responsible for 31% of total Contracted Sales in 2Q09
Present in São Paulo, Rio de Janeiro, Porto Alegre and Campinas
Expected to open new regional offices in Vitória, Fortaleza, Goiânia, Brasília, Curitiba and Belo
Horizonte

19
Real Estate Market: Industry and Company OverviewLaunches Highlights – Mid and High end Segments
Rossi Parque Ibirapuera – Phase 1, 2 and 3
Porto Alegre – RS
190 units
Reserva Botanique
Campinas – SP
46 units

2121
Destaques Resultados
 2Q09 net income totals R$ 51.2 million, 79% up in 1Q09
 Net revenue of R$ 369.4 million, 25% higher than in 1Q09
 Better margins:
 Gross margin* grows 5.7 p.p. over 2Q08 to 34.7%
 EBITDA margin** grows 5.4 p.p. over 2Q08 to 24.4%
 Net margin of 13.9%
 Cost-effectiveness of selling and administrative expenses
 Selling expenses/net revenue 6.9%
 Administrative expenses / net revenue 6.2%
 Diclining cash burn – one of the lowest in the sector
 R$ 108 million in 2Q09 and R$ 482 million in the last 12 months
 Gradual and consistent debt quality:
 Construction financing participation in total debt grows from 36% to 39%
*Excluding financial factors
** Methodology comparable to the main compertitors – available at the Release

22
Nossos Resultados em NúmerosFinancial Highlights
342.3 369.4
559.4
665.8
2Q08 2Q09 1H08 1H09
Net Revenue (R$ million)
8%
19%
85,6
119,0 136,5
214,8
2Q08 2Q09 1H08 1H09
39%
57%29.0%
34.7%
28.1%
34.1%
Adjusted Gross Income (R$ million)
and Adjusted Gross Margin (%)
Net Revenue 2Q09 2Q08 1H09 1SH08
Property sales and services 356 96.3% 307 89.6% 653 98.1% 505 90.2%
Monetary variation and interest 26 7.2% 47 13.8% 36 5.3% 73 13.1%
(-) sales taxes (13) -3.4% (12) -3.5% (23) -3.5% (19) -3.3%
Total 369 100.0% 342 100.0% 666 100.0% 559 100.0%
Cost of property sold 2Q09 2Q08 1H09 1H08
Works + sites (224) 90.7% (209) 97.9% (415) 90.7% (350) 96.4%
Financial charges (23) 9.3% (4) 2.1% (43) 9.3% (13) 3.6%
Total (247) 100% (214) 100% (458) 100% (363) 100%
Adjusted Gross Income* 119 86 215 136
Gross Margin 33.2% 37.6% 31.2% 35.1%
Adjusted Gross Margin* 34.7% 29.0% 34.1% 28.1%
* Excluding financial factors
 Net revenue reaches R$ 369.4 million, up by 25% the 1Q09
 Gross margin* grows 5.7 p.p over 2Q08

23
Nossos Resultados em NúmerosFinancial Highlights
Net Income (R$ million) and
Net Margin (%)
50.9 51.2
66.8
79.8
2Q08 2Q09 1H08 1H09
1%
19%
14.9% 13.9% 11.9%
12.0%
EBITDA (R$ million) and
EBITDA margin (%)
65.0
90.0 93.3
141.8
2Q08 2Q09 1H08 1H09
38%
52%
19.0%
24.4%
16.7%
21.3%
EBITDA – New Methodology 2Q09 2Q08 Var. 1H09 1H08 Var.
Net income 51 51 1% 80 67 19%
(+/-) Financial Expenses (Revenues), net 2 7 -78% (2) 7 -126%
(+) Deferred income tax and social contribution 10 1 n.m. 11 3 261%
(+) Depreciation and amortization 5 2 192% 10 3 192%
(+) Interest 23 4 418% 43 13 224%
(+) Stock option plan 0 - - 0 - -
ADJUSTED EBITDA 90 65 38% 142 93 52%
ADJUSTED EBITDA Margin 24.4% 19.0% 5.4 p.p. 21.3% 16.7% 4.6 p.p.
 Net income of R$ 51.2 million, 79% up on 1Q09
 EBITDA margin grows 5.4 p.p. (vs 2Q08)

24
Nossos Resultados em Números
Selling Expenses Administrative Expenses
 Increased cost-effectiveness of selling and administrative expenses
4%
16%
4%
1Q09 2Q09 4Q08 1Q09 2Q09
26
25
29
24
23
Operating expenses (R$ million) 2Q09 2Q08 Var . 1H09 1H08 Var.
Administrative 23 27 -14% 47 49 -5%
Selling 25 35 -28% 52 57 -9%
Administrative / Net Revenue 6.2% 7.8% -1.6 p.p. 7.0% 8.8% -1.8 p.p.
Selling / Net Revenue 6.9% 10.2% -3.4 p.p. 7.7% 10.1% -2.4 p.p.
G&A / Net Revenue 13.0% 18.1% -5.1 p.p. 14.9% 18.9% -4.1 p.p.
R$million
R$million

25
Nossos Resultados em NúmerosGradual and consistent improvement in debt quality
 Construction financing share in total debt
grew from 36% to 39%
Debt jun/09 mar/09 Var.
Debt – Short Term 211.6 121.9 74%
Loans- working capital 11.1 10.8 3%
Construction financing 194.1 104.6 86%
Debentures 6.4 6.4 0%
Debt – Long Term 787.9 803.5 -2%
Loans- working capital 237.1 236.2 0%
Construction financing 200.2 224. 5 -11%
Debentures 350.6 342.9 2%
Total Debt 999.5 925.4 8%
Cash Position
Financial investments – short term 177.7 211.8 -16%
Financial investments – long term 1.1 1.1 0%
Total cash position 178.8 212.9 -16%
Net Debt 820.7 712.5 15%
Net Debt/ Shareholders’ Equity 62.26% 56.24%
(Net Debt – SFH )/Shareholders’ Equity 32.35% 30.26%
Debt Rule Rossi 2Q09
Net debt+ Property payable –
Unearned revenue
Shareholders’ Equity
≤ 0.70 158.3
1,319
0.12
Recebivables +Property tradable
Net debt+ Property payable +
Prepaid expenses
≥ 1.5 or < 0 4,349
2,089
2.08
EBIT
Financial Expenses (Revenues), net
≥ 1.5 or < 0 108.6
(1.8)
(0.60)
Amortization Schedule
Total Debt: R$ 999.5 million

26
NossosResultados em Números
 Declining and is already one of the lowest in the sector. In the last 12
months the company used R$ 482 million, and in 2Q09, only R$ 108 million
Cash Burn
Cash Burn (R$ million) Variation in Net Debt Capitalization Cash burn
2Q09 108 108
1Q09 138 138
4Q08 -31 150 119
3Q08 117 118
Total 332 150 482
Market value RSID3
Number of shares 157,703,628
Number of shares issued 34,482,760
Total shares after capital increase 192,186,388
Closing price 08/12/2009 R$ 11.30
Market value R$ 2,172

27
NossosResultados em NúmerosShare Performance
RSID3 - 2009
0,00
50,00
100,00
150,00
200,00
250,00
300,00
350,00
2/jan/09 2/fev/09 2/mar/09 2/abr/09 2/mai/09 2/jun/09 2/jul/09 2/ago/09
RSID3 IBOV IMOB
Fonte: Bloomberg
R$ / ação
50
70
90
110
130
150
170
190
210
230
2-Jan-09 17-Jan-09 1-Feb-09 16-Feb-09 3-Mar-09 18-Mar-09 2-Apr-09 17-Apr-09 2-May-09
RSID3 IBOV IMOB

28
NossosResultados em Números
Institution Analyst Contact
BB Investimentos Antonio Emilio Ruiz antonioemilio@bb.com.br
Banco Fator Eduardo Silveira esilveira@bancofator.com.br
Barclays
Guilherme Vilazante
Edoardo Biancheri
guilherme.vilazante@barcap.com
edoardo.biancheri@barcap.com
Citigroup Cecília del Castillo cdelcastillo@accival.com
Credit Suisse
Marcelo Telles
Pedro Barbosa
marcelo.telles@credit-suisse.com
Pedro.barbosa@credit-suisse.com
Goldman Sachs
Jason B. Mollin
Leonardo Zambolín
jason.molin@gs.com
leonardo.zambolin@gs.com
Itaú
David Lawant
Cecília Viriato
david.lawant@itau.com.br
Cecilia.medeiros@itau.com.br
JP Morgan
Adrian Huerta
Marcelo Motta
adrian.huerta@jpmorgan.com
marcelo.g.motta@jpmorgan.com
Merrill Lynch Carlos Peryrelongue carlos_peryrelongue@ml.com
Raymond James Conrado Vegner conrado.vegner@raymondjames.com
Santander
Marcello Milman
Fabiola Gama
mmilman@santander.com.br
fpgama@santander.com.br
UBS
Gordon Lee
Rodrigo Monteiro
gordon.lee@ubs.com
rodrigo.monteiro@ubs.com
Analyst Coverage
Analyst Coverage

2929
Cássio Elias Audi
CFO and Investor Relations Officer
Maria Claudia Biolchini
Investor Relations Manager
mariabiolchini@rossiresidencial.com.br
Tel. (55 11) 3759-7516
IR Team
IR Contacts

2Q09 Results Presentation

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