1. Local partners provide knowledge of the local real estate market and local customer preferences.
2. They have established relationships with local construction agencies, which can help reduce costs.
3. Local partners offer access to business opportunities that leverage their knowledge of the local market.
4. Partnering mitigates risks when entering new local markets that Gafisa is less familiar with.
5. Local partners can help manage day-to-day local operational activities more efficiently.
First Quantum has a solid track record of operational and financial results, having developed five mines within nine years on schedule and budget. It is a significant and growing copper producer that is set to more than triple production by 2015. First Quantum also has an emerging nickel production profile and a robust project pipeline that will further increase production. This positions the company for strong growth with a solid base and financial position.
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentationfinance8
Dave Anderson, Senior VP and CFO of Honeywell, presented at the Gabelli Asset Management Aircraft Supplier Conference on September 7, 2006. Honeywell has built a strong track record through 5-10% organic sales growth, margin expansion, double digit EPS growth, and 100% cash conversion. Its portfolio includes Aerospace (35% of sales), Automation and Control (35%), Transportation (15%), and Specialty Materials (15%). Honeywell is on track for record performance in 2006 and is well positioned for long term growth across its segments.
First Quantum has a solid track record of operational and financial results, having developed five mines within nine years on schedule and budget. It is tripling its copper production capacity to over 1 million tonnes annually by investing approximately $5 billion in growth projects through 2016. This will position First Quantum as one of the largest copper and nickel producers globally.
1) The annual shareholder meeting presentation discusses Terex Corporation's financial goals for 2010, including achieving $12 billion in sales with a 12% operating margin and 15% working capital to sales ratio.
2) It provides an overview of Terex's business segments and their market positions, with approximately 75% of sales generated in markets where Terex has a leading position.
3) The presentation highlights Terex's sales and backlog figures by business segment for the last twelve months through March 2008, with aerial work platforms sales up 9% and cranes sales up 26% compared to the prior year.
Sun Microsystems Q109 Quaterly Results Releaseearningsreport
Sun Microsystems reported financial results for the first quarter of 2009. Total revenue declined 7% year-over-year to $2.99 billion. Gross margin declined to 40.2% from 48.5% in the previous year. The company reported a net loss of $1.68 billion compared to net income of $89 million in the previous year. Billings for systems and software declined 17% and 27% year-over-year respectively. Support services revenue declined 2% while professional services revenue increased 1% over the same period last year.
Terex is a leading manufacturer of construction and mining equipment with sales of $9.1 billion in 2007. It aims to grow sales to $12 billion by 2010 through organic growth and acquisitions while improving operating margins to 12% and reducing working capital to sales ratio to 15%. Terex has a diversified business across products and geographies that provides balance throughout the economic cycle.
Raytheon Reports 2006 Second Quarter Resultsfinance12
Raytheon Company reported second quarter earnings on July 27, 2006. The company highlighted strong earnings per share of $0.69, up 35% year-over-year. Raytheon also saw strong bookings of $5.5 billion and sales of $5.7 billion, up 6% year-over-year. Additionally, the company is exploring strategic alternatives for its Raytheon Aircraft Company business unit. Raytheon increased its full-year guidance for earnings per share, operating cash flow, and return on invested capital.
First Quantum Minerals is a growing mining company producing copper and gold. It has a solid base of existing mining operations in Zambia and Mauritania, providing a platform for growth. The company has a robust pipeline of projects that will more than triple its copper production by 2015. These include the Ravensthorpe nickel project in Australia and the Kevitsa nickel/copper project in Finland. Exploration is also expanding the resource base. With a strong financial position and focus on execution, First Quantum is well positioned for continued rapid growth as a major copper and nickel producer.
First Quantum has a solid track record of operational and financial results, having developed five mines within nine years on schedule and budget. It is a significant and growing copper producer that is set to more than triple production by 2015. First Quantum also has an emerging nickel production profile and a robust project pipeline that will further increase production. This positions the company for strong growth with a solid base and financial position.
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentationfinance8
Dave Anderson, Senior VP and CFO of Honeywell, presented at the Gabelli Asset Management Aircraft Supplier Conference on September 7, 2006. Honeywell has built a strong track record through 5-10% organic sales growth, margin expansion, double digit EPS growth, and 100% cash conversion. Its portfolio includes Aerospace (35% of sales), Automation and Control (35%), Transportation (15%), and Specialty Materials (15%). Honeywell is on track for record performance in 2006 and is well positioned for long term growth across its segments.
First Quantum has a solid track record of operational and financial results, having developed five mines within nine years on schedule and budget. It is tripling its copper production capacity to over 1 million tonnes annually by investing approximately $5 billion in growth projects through 2016. This will position First Quantum as one of the largest copper and nickel producers globally.
1) The annual shareholder meeting presentation discusses Terex Corporation's financial goals for 2010, including achieving $12 billion in sales with a 12% operating margin and 15% working capital to sales ratio.
2) It provides an overview of Terex's business segments and their market positions, with approximately 75% of sales generated in markets where Terex has a leading position.
3) The presentation highlights Terex's sales and backlog figures by business segment for the last twelve months through March 2008, with aerial work platforms sales up 9% and cranes sales up 26% compared to the prior year.
Sun Microsystems Q109 Quaterly Results Releaseearningsreport
Sun Microsystems reported financial results for the first quarter of 2009. Total revenue declined 7% year-over-year to $2.99 billion. Gross margin declined to 40.2% from 48.5% in the previous year. The company reported a net loss of $1.68 billion compared to net income of $89 million in the previous year. Billings for systems and software declined 17% and 27% year-over-year respectively. Support services revenue declined 2% while professional services revenue increased 1% over the same period last year.
Terex is a leading manufacturer of construction and mining equipment with sales of $9.1 billion in 2007. It aims to grow sales to $12 billion by 2010 through organic growth and acquisitions while improving operating margins to 12% and reducing working capital to sales ratio to 15%. Terex has a diversified business across products and geographies that provides balance throughout the economic cycle.
Raytheon Reports 2006 Second Quarter Resultsfinance12
Raytheon Company reported second quarter earnings on July 27, 2006. The company highlighted strong earnings per share of $0.69, up 35% year-over-year. Raytheon also saw strong bookings of $5.5 billion and sales of $5.7 billion, up 6% year-over-year. Additionally, the company is exploring strategic alternatives for its Raytheon Aircraft Company business unit. Raytheon increased its full-year guidance for earnings per share, operating cash flow, and return on invested capital.
First Quantum Minerals is a growing mining company producing copper and gold. It has a solid base of existing mining operations in Zambia and Mauritania, providing a platform for growth. The company has a robust pipeline of projects that will more than triple its copper production by 2015. These include the Ravensthorpe nickel project in Australia and the Kevitsa nickel/copper project in Finland. Exploration is also expanding the resource base. With a strong financial position and focus on execution, First Quantum is well positioned for continued rapid growth as a major copper and nickel producer.
The document summarizes Petrobras' activities and investments in Bolivia. It discusses Petrobras' role in developing Bolivia's natural gas fields and infrastructure for exporting gas to Brazil. It notes that a new Bolivian law has nationalized Petrobras' refining and other assets in Bolivia. Petrobras will take legal action to protect its interests and suspend new investments in Bolivia in response to the law.
Dashboard page from monthly management pack developed in Excel. User can customise report by using various controls on the sheet, eg by selecting the reporting period date, choosing whether to display in 000\'s or millions, selecting items they want to graph using drop-down boxes, and various option boxes to select YTD, budget, monthly, prior year, etc. Allows user to print full management pack of 20+ pages by the click of one button. Uses VBA to control program flow.
Terex Corporation provides forward-looking statements and non-GAAP measures in their presentation. Their purpose is to improve people's lives around the world through their construction equipment. Their mission is to delight customers with high-quality products and services that exceed expectations. Their vision is to be the most customer-responsive, profitable, and desirable place for employees to work in the industry. Terex has a strong and diversified revenue base globally, with income and sales growing significantly in recent years. They are the 3rd largest construction equipment manufacturer in the world, with over 75% of sales where they have a strong market presence.
Banco ABC - 4th Quarter 2008 Results PresentationBanco ABC Brasil
The document is Banco ABC Brasil's 4Q08 earnings presentation from February 18, 2009. It highlights the bank's recurring net income growth of 36% in 2008 to BRL 160.7 million. Net income in 4Q08 was BRL 30.9 million, down 36.2% from 3Q08 due to additional loan loss provisions. The credit portfolio reached BRL 6.485 billion, growing 29.9% year-over-year. Credit quality remained high, with 97.6% of loans rated AA to C by the Central Bank.
Sun microsystems Q2 2009 earnings releasesearningsreport
- Sun Microsystems reported quarterly financial results for Q209 with total revenue of $3.22 billion, an 8% increase from the previous quarter but an 11% decrease year-over-year.
- Hardware, software, and storage billings decreased 25% year-over-year while services revenue increased 3% year-over-year, driven by 3% growth in professional services and education.
- The company reported a net loss of $209 million for the quarter, an improvement from a $1.68 billion loss in the previous year but still a negative operating margin of 6.2%.
Imperial reported an 18% increase in revenue and a 12% increase in operating profit for the first six months of fiscal year 2013. While most divisions performed well, logistics divisions faced challenging conditions in South Africa and Europe. The automotive retail and aftermarket parts divisions achieved strong growth. Overall, the results represent a good performance despite difficult market conditions in some areas.
By Gert-Jan Stads. Presented at the ASTI-FARA conference Agricultural R&D: Investing in Africa's Future: Analyzing Trends, Challenges, and Opportunities - Accra, Ghana on December 5-7, 2011. http://www.asti.cgiar.org/2011conf
The document summarizes an analyst day presentation for Cummins' Components Segment. It includes an agenda for the day's presentations and discussions on the company's turbo technologies, fuel systems, filtration, and emission solutions business units. It provides overviews of each business unit, highlighting their technology leadership, growth opportunities in emerging markets and through new products, and prospects for improving financial performance and earnings growth.
The document discusses the 2008 results and 2009 plan for an institutional business. Some key points include:
- Excellent top-line growth and solid core earnings were achieved in 2008.
- Premiums, fees and other revenues are projected to increase from $16.5-$16.7 billion in 2008 to $17.3-$17.7 billion in 2009. However, operating earnings are expected to decline slightly to $1.6-$1.66 billion due to lower investment income and expense management.
- The business will focus on maintaining fundamentals, investing in growth opportunities, aggressively managing expenses, and communicating their value proposition in 2009.
First Quantum Minerals is a global diversified mining company currently producing copper cathode, copper concentrate, gold and sulfuric acid. The company has a significant copper production growth profile with new mines coming online in the near to medium term. First Quantum is also expanding into nickel production and pursuing growth through projects in Australia, Finland, Zambia, Mauritania and Peru with over $2 billion in projected investment between 2011-2015. The company has a strong track record of efficient operations and a goal of increasing copper production 46% to 470,000 tonnes by 2015 through expansion of existing mines like Kansanshi in Zambia.
The document provides a safe harbor statement for any forward-looking statements made in the presentation. It notes that actual results could differ materially from projected results due to general economic conditions, competitive factors, legislative or regulatory changes, and other risks. The presentation agenda includes discussing Unum Group's business, 4Q-2007 results, how the company has changed, and its outlook. Financial guidance is provided for 2008 earnings per share, return on equity, capital position, and long-term trends through 2009 and beyond.
Credit suisse global steel & mining conference, 22 23 сентября 2010evraz_company
1) Evraz reported a 38% increase in revenue and a 147% increase in adjusted EBITDA for the first half of 2010 compared to the same period in 2009, driven by higher sales volumes and prices.
2) Cost of revenue increased 23% due to higher prices for raw materials like scrap, coking coal, and iron ore, though Evraz's vertical integration helped offset costs.
3) Evraz refinanced some short-term debt and issued bonds to improve its debt maturity profile, reducing short-term debt from 46% to 22% of total debt.
The half-day workshop is designed to help anyone that creates proposals, quotes, or RFQs to customers, or manages Distributors, Rep’s, or VARs. The typical attendees include the: Sales, Marketing, and Finance functions.
How can it benefit you? By providing new skills for your job today, or the one you want tomorrow.
For most - it provides new skills to solve everyday business challenges. For some - it may be a refresher of skills you already have. For all - you will leave having gained some new skill.
What does the workshop cover? Everyday challenges for sales, marketing and finance:
1. GM, Cost, and Price Relationships
2. Income (Expense), Profit (Loss), and GM Relationship
3. Calculate Compound Annual Growth Rate (CAGR)
4. How to create a Price Model
5. The impact of price changes on Revenue and Profit
6. Pareto Analysis (the 80/20 Rule)
7. Calculate Monthly Quota for an Annual Forecast
8. Calculate Quarterly Prices for a Step Price Proposal
omnicom group Q4 2006 Investor Presentationfinance22
The document provides financial information for Omnicom Group for the fourth quarter and full year of 2006. It shows that revenue grew 9.4% in the fourth quarter and 8.5% for the full year compared to 2005. Net income increased 9.7% in the fourth quarter and 9.3% for the full year. Revenue growth was driven by organic growth of 6.6% in the fourth quarter and 7.6% for the full year, as well as a positive foreign exchange impact. By discipline, CRM experienced the strongest growth at 15% in the fourth quarter and 13% for the full year.
Lionfishprogrampresentation 12547992334167-phpapp01Randy Jordan
Roatan Marine Park is working with several organizations to control the invasive lionfish population in Honduras. Lionfish are native to the Indo-Pacific but were introduced to the Atlantic in the 1980s. They have no natural predators in the Caribbean and reproduce rapidly, consuming large amounts of native fish and crustaceans. To help address the problem, organizations are educating the public and encouraging people to catch and eat lionfish, as eradication is impossible due to their reproduction rate and wide distribution.
1) Gafisa acquired 100% of AlphaVille Urbanismo over 5 years for a combination of cash and stock.
2) AlphaVille is the largest community developer in Brazil, transforming rural land into residential communities with infrastructure.
3) The acquisition strengthens Gafisa's position in the upper-middle housing market and provides geographic and business diversification.
Octagon is a global sports and entertainment marketing agency with headquarters in Los Angeles and offices across Europe, the Middle East, Africa, Asia Pacific, Canada, and the United States. Some of Octagon's key clients include Olympic athletes Michael Phelps and Apolo Anton Ohno as well as basketball players Stephen Curry and Rudy Gay.
- The document summarizes Gafisa's third quarter 2009 results conference call.
- Key highlights include a 43% decrease in launches but a 48% increase in contracted sales compared to the previous year. Net revenues increased 131% while gross margins decreased.
- Recent developments discussed include strong sales in mid-to-mid-high segments, expansion of the affordable housing program, and plans to merge shares of Tenda into Gafisa to increase scale and efficiency.
- Gafisa has a diversified land bank of 313 sites in 21 states representing over 15 billion reais in potential sales.
Lionfish are a perfect invasive predator that threaten local ecosystems. They mature quickly at one year old and can reproduce every four days, producing over 2 million eggs per year. Their voracious appetites allow them to reduce local fish populations by up to 90%. While lethal removal of 27% of the lionfish population annually can control their expansion, their ability to inhabit deep waters and widespread areas makes total removal impossible. Handling lionfish requires care due to their toxic spines, but their meat can be prepared in recipes like ceviche once cleaned and filleted.
Octagon is a global sports and entertainment marketing agency with headquarters in Los Angeles and offices across Europe, the Middle East, Africa, Asia Pacific, Canada, and the United States. Some of Octagon's key clients include Olympic athletes Michael Phelps and Apolo Anton Ohno as well as basketball players Stephen Curry and Rudy Gay.
Este documento presenta un curso de postgrado internacional sobre patrimonio cultural, turismo y paisaje que ofrece estrategias sostenibles para destinos patrimoniales y proyectos culturales-turísticos. El curso dura 12 semanas con 300 horas de contenido dividido en dos cursos sobre patrimonio cultural y paisaje, y turismo y sostenibilidad. El objetivo es capacitar a los estudiantes en temas emergentes de patrimonio, paisaje e interpretación cultural, así como en el desarrollo de estrategias de turismo sostenible.
The lionfish is a non-native and invasive species that was unintentionally introduced to the Atlantic Ocean. They have no natural predators in the region and have flourished, spreading widely along the Southeast coast of the United States. Their population has grown exponentially due to a lack of predators and ability to reproduce frequently, posing a threat to native species.
The document summarizes Petrobras' activities and investments in Bolivia. It discusses Petrobras' role in developing Bolivia's natural gas fields and infrastructure for exporting gas to Brazil. It notes that a new Bolivian law has nationalized Petrobras' refining and other assets in Bolivia. Petrobras will take legal action to protect its interests and suspend new investments in Bolivia in response to the law.
Dashboard page from monthly management pack developed in Excel. User can customise report by using various controls on the sheet, eg by selecting the reporting period date, choosing whether to display in 000\'s or millions, selecting items they want to graph using drop-down boxes, and various option boxes to select YTD, budget, monthly, prior year, etc. Allows user to print full management pack of 20+ pages by the click of one button. Uses VBA to control program flow.
Terex Corporation provides forward-looking statements and non-GAAP measures in their presentation. Their purpose is to improve people's lives around the world through their construction equipment. Their mission is to delight customers with high-quality products and services that exceed expectations. Their vision is to be the most customer-responsive, profitable, and desirable place for employees to work in the industry. Terex has a strong and diversified revenue base globally, with income and sales growing significantly in recent years. They are the 3rd largest construction equipment manufacturer in the world, with over 75% of sales where they have a strong market presence.
Banco ABC - 4th Quarter 2008 Results PresentationBanco ABC Brasil
The document is Banco ABC Brasil's 4Q08 earnings presentation from February 18, 2009. It highlights the bank's recurring net income growth of 36% in 2008 to BRL 160.7 million. Net income in 4Q08 was BRL 30.9 million, down 36.2% from 3Q08 due to additional loan loss provisions. The credit portfolio reached BRL 6.485 billion, growing 29.9% year-over-year. Credit quality remained high, with 97.6% of loans rated AA to C by the Central Bank.
Sun microsystems Q2 2009 earnings releasesearningsreport
- Sun Microsystems reported quarterly financial results for Q209 with total revenue of $3.22 billion, an 8% increase from the previous quarter but an 11% decrease year-over-year.
- Hardware, software, and storage billings decreased 25% year-over-year while services revenue increased 3% year-over-year, driven by 3% growth in professional services and education.
- The company reported a net loss of $209 million for the quarter, an improvement from a $1.68 billion loss in the previous year but still a negative operating margin of 6.2%.
Imperial reported an 18% increase in revenue and a 12% increase in operating profit for the first six months of fiscal year 2013. While most divisions performed well, logistics divisions faced challenging conditions in South Africa and Europe. The automotive retail and aftermarket parts divisions achieved strong growth. Overall, the results represent a good performance despite difficult market conditions in some areas.
By Gert-Jan Stads. Presented at the ASTI-FARA conference Agricultural R&D: Investing in Africa's Future: Analyzing Trends, Challenges, and Opportunities - Accra, Ghana on December 5-7, 2011. http://www.asti.cgiar.org/2011conf
The document summarizes an analyst day presentation for Cummins' Components Segment. It includes an agenda for the day's presentations and discussions on the company's turbo technologies, fuel systems, filtration, and emission solutions business units. It provides overviews of each business unit, highlighting their technology leadership, growth opportunities in emerging markets and through new products, and prospects for improving financial performance and earnings growth.
The document discusses the 2008 results and 2009 plan for an institutional business. Some key points include:
- Excellent top-line growth and solid core earnings were achieved in 2008.
- Premiums, fees and other revenues are projected to increase from $16.5-$16.7 billion in 2008 to $17.3-$17.7 billion in 2009. However, operating earnings are expected to decline slightly to $1.6-$1.66 billion due to lower investment income and expense management.
- The business will focus on maintaining fundamentals, investing in growth opportunities, aggressively managing expenses, and communicating their value proposition in 2009.
First Quantum Minerals is a global diversified mining company currently producing copper cathode, copper concentrate, gold and sulfuric acid. The company has a significant copper production growth profile with new mines coming online in the near to medium term. First Quantum is also expanding into nickel production and pursuing growth through projects in Australia, Finland, Zambia, Mauritania and Peru with over $2 billion in projected investment between 2011-2015. The company has a strong track record of efficient operations and a goal of increasing copper production 46% to 470,000 tonnes by 2015 through expansion of existing mines like Kansanshi in Zambia.
The document provides a safe harbor statement for any forward-looking statements made in the presentation. It notes that actual results could differ materially from projected results due to general economic conditions, competitive factors, legislative or regulatory changes, and other risks. The presentation agenda includes discussing Unum Group's business, 4Q-2007 results, how the company has changed, and its outlook. Financial guidance is provided for 2008 earnings per share, return on equity, capital position, and long-term trends through 2009 and beyond.
Credit suisse global steel & mining conference, 22 23 сентября 2010evraz_company
1) Evraz reported a 38% increase in revenue and a 147% increase in adjusted EBITDA for the first half of 2010 compared to the same period in 2009, driven by higher sales volumes and prices.
2) Cost of revenue increased 23% due to higher prices for raw materials like scrap, coking coal, and iron ore, though Evraz's vertical integration helped offset costs.
3) Evraz refinanced some short-term debt and issued bonds to improve its debt maturity profile, reducing short-term debt from 46% to 22% of total debt.
The half-day workshop is designed to help anyone that creates proposals, quotes, or RFQs to customers, or manages Distributors, Rep’s, or VARs. The typical attendees include the: Sales, Marketing, and Finance functions.
How can it benefit you? By providing new skills for your job today, or the one you want tomorrow.
For most - it provides new skills to solve everyday business challenges. For some - it may be a refresher of skills you already have. For all - you will leave having gained some new skill.
What does the workshop cover? Everyday challenges for sales, marketing and finance:
1. GM, Cost, and Price Relationships
2. Income (Expense), Profit (Loss), and GM Relationship
3. Calculate Compound Annual Growth Rate (CAGR)
4. How to create a Price Model
5. The impact of price changes on Revenue and Profit
6. Pareto Analysis (the 80/20 Rule)
7. Calculate Monthly Quota for an Annual Forecast
8. Calculate Quarterly Prices for a Step Price Proposal
omnicom group Q4 2006 Investor Presentationfinance22
The document provides financial information for Omnicom Group for the fourth quarter and full year of 2006. It shows that revenue grew 9.4% in the fourth quarter and 8.5% for the full year compared to 2005. Net income increased 9.7% in the fourth quarter and 9.3% for the full year. Revenue growth was driven by organic growth of 6.6% in the fourth quarter and 7.6% for the full year, as well as a positive foreign exchange impact. By discipline, CRM experienced the strongest growth at 15% in the fourth quarter and 13% for the full year.
Lionfishprogrampresentation 12547992334167-phpapp01Randy Jordan
Roatan Marine Park is working with several organizations to control the invasive lionfish population in Honduras. Lionfish are native to the Indo-Pacific but were introduced to the Atlantic in the 1980s. They have no natural predators in the Caribbean and reproduce rapidly, consuming large amounts of native fish and crustaceans. To help address the problem, organizations are educating the public and encouraging people to catch and eat lionfish, as eradication is impossible due to their reproduction rate and wide distribution.
1) Gafisa acquired 100% of AlphaVille Urbanismo over 5 years for a combination of cash and stock.
2) AlphaVille is the largest community developer in Brazil, transforming rural land into residential communities with infrastructure.
3) The acquisition strengthens Gafisa's position in the upper-middle housing market and provides geographic and business diversification.
Octagon is a global sports and entertainment marketing agency with headquarters in Los Angeles and offices across Europe, the Middle East, Africa, Asia Pacific, Canada, and the United States. Some of Octagon's key clients include Olympic athletes Michael Phelps and Apolo Anton Ohno as well as basketball players Stephen Curry and Rudy Gay.
- The document summarizes Gafisa's third quarter 2009 results conference call.
- Key highlights include a 43% decrease in launches but a 48% increase in contracted sales compared to the previous year. Net revenues increased 131% while gross margins decreased.
- Recent developments discussed include strong sales in mid-to-mid-high segments, expansion of the affordable housing program, and plans to merge shares of Tenda into Gafisa to increase scale and efficiency.
- Gafisa has a diversified land bank of 313 sites in 21 states representing over 15 billion reais in potential sales.
Lionfish are a perfect invasive predator that threaten local ecosystems. They mature quickly at one year old and can reproduce every four days, producing over 2 million eggs per year. Their voracious appetites allow them to reduce local fish populations by up to 90%. While lethal removal of 27% of the lionfish population annually can control their expansion, their ability to inhabit deep waters and widespread areas makes total removal impossible. Handling lionfish requires care due to their toxic spines, but their meat can be prepared in recipes like ceviche once cleaned and filleted.
Octagon is a global sports and entertainment marketing agency with headquarters in Los Angeles and offices across Europe, the Middle East, Africa, Asia Pacific, Canada, and the United States. Some of Octagon's key clients include Olympic athletes Michael Phelps and Apolo Anton Ohno as well as basketball players Stephen Curry and Rudy Gay.
Este documento presenta un curso de postgrado internacional sobre patrimonio cultural, turismo y paisaje que ofrece estrategias sostenibles para destinos patrimoniales y proyectos culturales-turísticos. El curso dura 12 semanas con 300 horas de contenido dividido en dos cursos sobre patrimonio cultural y paisaje, y turismo y sostenibilidad. El objetivo es capacitar a los estudiantes en temas emergentes de patrimonio, paisaje e interpretación cultural, así como en el desarrollo de estrategias de turismo sostenible.
The lionfish is a non-native and invasive species that was unintentionally introduced to the Atlantic Ocean. They have no natural predators in the region and have flourished, spreading widely along the Southeast coast of the United States. Their population has grown exponentially due to a lack of predators and ability to reproduce frequently, posing a threat to native species.
The document discusses Gafisa's 4Q09 and full year 2009 financial results. Key highlights include a 60% increase in net revenue in 4Q09 and 74% increase for the full year. Gross profit grew 88% in 4Q09 and 67% for 2009. Adjusted EBITDA margins improved to 19.5% in 4Q09 and 20% for 2009. Contracted sales grew 79% in 4Q09 and 26% for the full year. The company also saw strong sales in its middle and mid-high segments and continued diversifying its product offerings and geographic presence.
7th Ceo’s Conference, São Paulo, March 20thGafisa RI !
Gafisa is a leading homebuilder in Brazil that was founded in 1954. In 2006, the company had an IPO on the São Paulo stock exchange to further its professionalization and capitalize on growth opportunities. Gafisa aims to be the leading residential development company in Brazil based on sales, profitability, and quality. It maintains a strong land bank, focuses on high-return opportunities, and plans continued geographic expansion. Gafisa benefits from Brazil's robust housing growth outlook and its position as a well-capitalized industry leader with a strong brand and professional management.
O documento lista vários periódicos acadêmicos com suas respectivas informações como ISSN, título, estrato, área de avaliação e status. Todos os periódicos listados estão classificados no estrato A2 e na área de avaliação de Ensino, e têm o status "Atualizado".
Corporate Presentation for Gafisa provides an overview of the company's competitive advantages and operating performance. Key points include:
1) Gafisa has multifaceted residential products across all income segments in Brazil and a national footprint that allows it to capture demand growth.
2) The company has a proven track record of execution, delivering strong growth in launches, sales, and revenues in recent years while maintaining profitability.
3) Gafisa benefits from strong brand recognition and a solid reputation in the industry, leading to advantages like higher sales velocity.
The presentation highlights Gafisa's differentiation in the market and solid financial and operating results.
1) Gafisa reported financial results for the second quarter of 2009 with pre-sales increasing 9% compared to the second quarter of 2008 despite a 56% reduction in launches.
2) Net operating revenues rose 54% year-over-year while adjusted EBITDA increased 69% and net income before minority interest grew 26%.
3) The company received R$600 million in debenture funds in May to support its Tenda division projects that meet government housing requirements.
Gafisa reported strong financial results for the first quarter of 2008, with consolidated launches increasing 91% year-over-year, pre-sales up 97% quarter-over-quarter, and net operating revenues rising 42% quarter-over-quarter. Net income increased to R$42 million in 1Q08 compared to the adjusted net income of R$21 million in 1Q07. Gafisa also expanded into two new markets, upgraded its credit rating, and saw continued growth in the mortgage lending market in Brazil. Looking ahead, Gafisa is well positioned for further growth and has a diversified land bank to support its expansion plans.
This document lists the top 15 most requested books from the children's section of the Central Library of Cesis, Latvia in September 2016. It provides the rankings but not the titles of the books. Additionally, it includes a link to the library's online catalog for more information.
This document provides biographical information about an admired person named Alejandra Jacqueline Moncada Saavedra. It includes her personal details such as name, date and place of birth, family, education history, and physical description. The document also describes the city of Santiago where she lives and her psychological characteristics. The writer admires her for reasons that are not specified.
The document summarizes 3Q12 financial highlights and subsequent events for BR Properties. Key points include:
- 3Q12 net revenues increased 83% year-over-year to R$168 million due to additional rental revenues from new properties.
- Adjusted EBITDA was R$156.4 million, up 84% year-over-year, with a margin of 93%.
- In July, BR Properties issued R$600 million in local debentures and prepaid/refinanced R$364.5 million of debt.
- Several non-income producing properties are expected to deliver throughout 2012-2014, representing potential additional annual revenue of R$300 million.
The document discusses Gafisa's 4Q09 and full year 2009 financial results. Key highlights include a 60% increase in net revenue in 4Q09 and 74% increase for the full year. Gross profit grew 88% in 4Q09 and 67% for 2009. Adjusted EBITDA margins improved to 19.5% in 4Q09 and 20% for 2009. Contracted sales grew 79% in 4Q09 and 26% for the full year. The company also saw strong sales in its middle and mid-high segments and benefited from the "Minha Casa Minha Vida" affordable housing program. Gafisa ended the period with a diversified land bank of over 15 billion reais.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that has delivered consistent 20% annual growth. It provides financing to "non-prime" credit customers through over 1,600 dealer partnerships across Canada. Carfinco has refined credit risk management practices and vertically integrated operations that have supported strong and growing financial returns, including impressive annual returns on equity of over 50%. The leadership team emphasizes continued growth and maintaining dividend payments.
The document outlines MMX's 2010 financial results, which showed record sales volumes, revenues, profits, and the company's first ever positive EBITDA of R$120.6 million. An audit of MMX's resources by SRK Consulting estimated total measured, indicated and inferred resources of 1.466 billion metric tons across various sites. The document also lists the next steps in MMX's planned voluntary takeover offer for PortX shares.
The document summarizes Gafisa's third quarter 2009 results conference call. It discusses strong sales performance in the mid and mid-high housing segments. It also notes the expansion of the affordable housing program and Gafisa's growing national footprint. Financially, it highlights contracted sales growth of 48% and a backlog of over R$2.9 billion in revenues to be recognized. Over R$1 billion in new project launches are planned for the fourth quarter of 2009.
This document discusses Caterpillar's strategy for emerging markets. It begins with an overview of Caterpillar and its recent history of sales growth. It then acknowledges the difficult global economic outlook for 2009, with sales projected to decline to $40 billion, plus or minus 10%. However, it notes long-term positive trends for infrastructure spending that will benefit Caterpillar. The bulk of the document focuses on Caterpillar's strategy and aggressive implementation plans to establish a leadership position in key emerging markets like China, India, and Asia through its holistic business model and expanded footprint and capabilities.
- The company achieved or surpassed all 2010 guidance and projections. Net income was $0.7926 per share and $1.8252 per ADS.
- 97 commercial aircraft orders were placed and 101 deliveries were made. The company's customer base expanded to 58 customers in 39 countries.
- In executive jets, the company delivered 145 jets and achieved a 19% market share. A landmark order was received from NetJets.
- The KC-390 military aircraft received Letters of Intent from 6 countries for up to 60 aircraft. The Super Tucano was sold to Indonesia.
- The company was selected as one of the best companies to work for in Brazil for the second consecutive year. It was
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
Energias do Brasil achieved several important goals in the first half of 2006. It started operations at its Peixe Angical hydroelectric plant, concluded its redundancy program, and issued new debentures. However, net income decreased due to one-time factors in 2005 and costs associated with the redundancy program. Overall the company is making progress on initiatives to reduce losses and position itself for continued growth.
National Oilwell Varco is the largest oilfield equipment company in the world. Through a strategy of mergers and acquisitions over the past 15 years, it has achieved superior returns on investment compared to industry averages. It provides complete solutions for oil and gas customers through its all-in-one business model. Current success is linked to its strategic initiatives of constant growth through acquisitions, international expansion via mergers and acquisitions, and offering customers an all-in-one solution from rigs to petroleum distribution through its portfolio of brands.
Raytheon reported second quarter earnings on July 27, 2006. Key highlights included earnings per share increasing 35% year-over-year to $0.69, strong bookings of $5.5 billion, and sales increasing 6% to $5.7 billion. Raytheon also increased full-year guidance for EPS, operating cash flow, and return on invested capital. The company is exploring strategic alternatives for its Raytheon Aircraft business segment.
Tim Solso, Chairman and CEO of Cummins, presented at Citigroup's 19th Annual Global Industrial Manufacturing Conference. Over the past several years, Cummins has delivered on its financial commitments, growing revenue significantly above targets and improving margins and returns. Moving forward, Cummins aims to further increase profitability, reduce debt, invest in growth opportunities, and deliver shareholder value through dividends and share repurchases. Cummins is well positioned for future success, especially in emerging markets like China and India, despite challenges like emissions regulations.
Tim Solso, Chairman and CEO of Cummins, presented at Citigroup's 19th Annual Global Industrial Manufacturing Conference. Over the past several years, Cummins has delivered on its financial commitments, growing revenue significantly above targets and improving margins and returns. Moving forward, Cummins aims to further increase profitability, reduce debt, invest in growth opportunities, and deliver increased shareholder value.
- Iron Mountain reported Q1/2009 revenue of $723 million, down 3% from the previous year due to foreign exchange rate fluctuations and weakness in complementary services, despite 4% internal growth in core revenue.
- Operating income before depreciation and amortization (OIBDA) increased 12% to $197 million due to disciplined cost controls and profit gains.
- Free cash flow before acquisitions and investments was $57 million, an improvement from -$20 million in the previous year.
- Iron Mountain raised its full-year 2009 OIBDA guidance while lowering expected capital expenditures to approximately $380 million.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth areas, and create shareholder value. Cummins is well positioned for future growth in emerging markets like China and India. The presentation also discusses strategies for heavy duty engines, components and distribution businesses, and preparations for 2007 emissions regulations.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth, and create shareholder value. Key markets like North America heavy-duty trucks and emerging markets are growing significantly. Cummins is well-positioned for future emissions regulations and global trends.
The document provides information about Embraer's investor relations contact information and job openings. It then summarizes Embraer's business strategies and goals in commercial aviation, executive aviation, and defense and security. Charts show aircraft deliveries and order backlogs. Financial data is presented on revenues, revenues by segment and region, and the revenue outlook. Market share and competition in different aircraft size segments are discussed.
[/SUMMARY]
The document provides an overview of Mermaid Maritime's FY2010 results and outlook. Key highlights include a year-over-year increase in revenue and operating cash flow for both 4Q2010 and FY2010. The subsea services segment contributed the majority of revenue but had lower operating margins than the drilling services segment. Mermaid also discussed its investment in a new joint venture called Asia Offshore Drilling to construct two new jack-up rigs with options for two more, signaling potential growth in the drilling business.
This document summarizes the Individual Business segment of a company for 2008 results and the 2009 plan. It highlights that earnings declined significantly in 2008 but are projected to increase in 2009. Key priorities for 2009 include leveraging the company's strong market position, maintaining expense controls, adjusting prices for market volatility, and increasing distribution efficiency. The business focuses on annuities and life insurance products distributed through affiliated and third party channels.
The document provides an overview of Cummins Inc.'s management team and financial performance. It introduces the executive committee and lists the vice presidents of various business divisions. It then summarizes Cummins' financial targets for metrics like revenue growth, EBIT margin, capital expenditures, and debt-to-capital ratio. Several charts show how the company has delivered on these targets and improved its stock price, margins, earnings, and return on equity over time.
- The company reported financial results for the fourth quarter and full year of 2014.
- For the Gafisa segment, net pre-sales fell 61% year-over-year in 4Q14. Adjusted EBITDA was R$81.8 million with a 16.7% margin.
- For the Tenda segment, launches increased 173% year-over-year in 4Q14 while pre-sales fell 23%. Adjusted EBITDA was negative R$30.9 million.
- Consolidated net revenue increased 31% quarter-over-quarter. Adjusted gross profit rose 9% and adjusted gross margin was 30.2%.
O documento apresenta os resultados financeiros do 4T14 e do ano de 2014 para os segmentos Gafisa e Tenda. No segmento Gafisa, as vendas contratadas totalizaram R$177 milhões no 4T14 e R$811 milhões no ano. O lucro líquido foi de R$36,8 milhões no trimestre. No segmento Tenda, as vendas contratadas foram de R$126,6 milhões no trimestre, enquanto o prejuízo líquido foi de R$28,8 milhões. O documento também discute o desempen
The document outlines Gafisa's investor day agenda, which includes presentations on Gafisa and Tenda's strategy, operations, and financial performance. It also provides an overview of Gafisa's history and strategic repositioning over time to focus on core markets in Sao Paulo and Rio de Janeiro. Gafisa has implemented improvements to streamline operations and reduce costs, improving financial results with stable operating margins and profitability expected to continue at current levels based on backlog revenues and margins.
O documento apresenta as informações para o Investor Day da Gafisa realizado em 04 de dezembro de 2014. Nele, a empresa faz declarações prospectivas sobre seus negócios que estão sujeitas a riscos e incertezas. A agenda do evento inclui apresentações sobre a estratégia e desempenho operacional e financeiro da Gafisa e de sua subsidiária Tenda.
- In 3Q14, the company's launches totaled R$510 million, up 142% year-over-year. Net pre-sales were R$230 million, down 32% year-over-year.
- Adjusted gross profit was R$179.9 million with a margin of 36.4%, up 200 basis points from the prior year. Adjusted EBITDA was R$73.5 million with a margin of 14.9%, down 750 basis points from the prior year.
- Net loss was R$10 million compared to net income of R$15.8 million in 3Q13, impacted by lower pre-sales and margins in the Tenda segment.
O documento apresenta os resultados financeiros da Gafisa e Tenda no 3T14 e nos primeiros 9 meses de 2014. A Gafisa teve aumento nos lançamentos e vendas contratadas, além de melhora nas margens. A Tenda reduziu prejuízos com foco no novo modelo de negócios, apesar de queda nas vendas. Ambas as empresas tiveram redução de custos.
The document summarizes the company's 1Q14 results conference call. It discusses positive operational and financial results for both the Gafisa and Tenda segments. Gafisa saw increases in launches, pre-sales, gross profit and EBITDA. Tenda's launches and pre-sales also increased significantly year-over-year, though it continues to have negative EBITDA. The company has a net debt to equity ratio of 1.26x and generated cash of R$20.5 million in 1Q14. Management provided updates on recent events including the shareholder meeting, dividend program, and preliminary studies on separating the Gafisa and Tenda business units.
Este documento apresenta os resultados da empresa no primeiro trimestre de 2014. Os principais pontos são: (1) Lançamentos totais de R$535 milhões, aumento de 172% em relação ao mesmo período do ano anterior. (2) Vendas contratadas totais de R$239 milhões, aumento de 122% na comparação anual. (3) Lucro bruto ajustado de R$132 milhões e margem bruta ajustada de 30,5%.
- Consolidated launches totaled R$1.6 billion in 4Q13, up 224.9% quarter-over-quarter and 8.7% year-over-year. Consolidated pre-sales reached R$1.3 billion in 4Q13 and R$2.5 billion in 2013.
- Net income for 4Q13 was R$921.3 million and R$867.4 million for 2013. Operating cash generation was R$667.7 million in 2013, resulting in positive free cash flow of R$97.3 million.
- Guidance for 2014 includes consolidated launches of R$2.1-2.5 billion and leverage of 55-65%.
- Company reported financial results for 4Q13 and full year 2013, with consolidated launches totaling R$1.6 billion for 4Q13, up 224.9% quarter-over-quarter.
- Adjusted EBITDA was R$978.9 million for 4Q13 and R$1.3 billion for 2013, reflecting contributions from the Alphaville transaction.
- Net income was R$921.3 million for 4Q13 and R$867.4 million for 2013.
1) O documento apresenta os resultados financeiros e operacionais da empresa no 4T13 e no ano de 2013, destacando o crescimento dos lançamentos, vendas e lucro operacional.
2) Também discute eventos recentes como a venda de participação na AUSA, programa de recompra de ações, e proposta de separação das unidades de negócio.
3) Fornece detalhes do balanço patrimonial pós-transação e status dos turnarounds dos segmentos Gafisa e Tenda.
O documento apresenta o planejamento da Gafisa para o Investor Day de 18 de dezembro de 2013, com as seguintes informações essenciais:
1) A agenda do evento inclui apresentações sobre a estratégia da Gafisa, Tenda, Alphaville, cadeia de suprimentos e finanças;
2) A empresa tem focado sua atuação nos mercados do Rio de Janeiro e São Paulo e reduzido a complexidade das operações;
3) A Gafisa tem concentrado seu banco de terrenos em projetos de médio
Gafisa outlined its strategic positioning to focus operations on the Rio de Janeiro and Sao Paulo markets, establish profit and loss responsibility by brand and region, and allocate capital to the Alphaville brand. Gafisa also discussed improvements to its construction management, cost control, landbank profile, product segmentation, and customer relations to support its strategic goals of cash generation and adapting its capital structure for profitable growth.
Gafisa reported financial and operating results for 3Q13. Key highlights included:
- Launches totaled R$498 million in 3Q13, up 8.1% q-o-q and 10.3% y-o-y.
- Consolidated pre-sales reached R$1.2 billion in 9M13.
- Net income was R$15.8 million in 3Q13, reversing a net loss in 2Q13.
- Positive free cash flow of R$32.1 million in 3Q13, compared to a cash burn in 2Q13.
A presentação 3 t13 - port - v0511_v2 (1)Gafisa RI !
O documento apresenta os resultados financeiros da empresa no 3T13. Os principais destaques são: (1) lucro líquido de R$15,8 milhões no trimestre revertendo prejuízo anterior; (2) geração de caixa positiva de R$32,1 milhões; (3) evolução da margem bruta. A empresa também fornece atualizações sobre a transação da Alphaville e perspectivas para 2013.
O documento apresenta os resultados financeiros da empresa no 2T13, destacando:
1) A venda de uma participação de 70% na Alphaville por R$2,01 bilhões, fortalecendo o caixa e reduzindo a alavancagem.
2) Melhoras nas vendas e redução gradual nos distratos, concentrando lançamentos e vendas nos mercados estratégicos de SP e RJ.
3) Retomada dos lançamentos da Tenda no fundamento, com redução do estoque legado e do ciclo financeiro.
- Gafisa reported 2Q13 results with sales exceeding launches and sequential improvement in the speed of sales.
- Gafisa entered an agreement to sell a 70% stake in Alphaville to Blackstone and Patria, generating expected proceeds of R$1.4 billion to reduce leverage.
- The sale allows shareholders to participate in long-term value through the retained 30% stake while unlocking value generated since Alphaville's acquisition.
- Gafisa S.A. signed an agreement to sell a 70% stake in Alphaville to Blackstone and Pátria, valuing the company at R$2.01 billion and generating expected gross cash proceeds of R$1.4 billion.
- The sale strengthens Gafisa's balance sheet by reducing leverage and generating long-term shareholder value. Shareholders will participate in future value creation through the retained 30% stake.
- In 2Q13, Gafisa exceeded sales over launches and saw sequential improvement in its sales velocity. Tenda's new launches are performing well and its financial cycle has halved to an average of 7 months.
- Post-
A apresentação discute os resultados financeiros da empresa no 2T13, incluindo a venda de uma participação majoritária na Alphaville para a Blackstone e Pátria. Além disso, fornece atualizações sobre o desempenho operacional dos segmentos Gafisa e Tenda e explica ajustes nas demonstrações financeiras devido à classificação de ativos da Alphaville como mantidos para venda.
O documento descreve a estratégia e histórico da Gafisa, incluindo: 1) A Gafisa focou-se inicialmente em crescimento orgânico e aquisições, mas agora prioriza oportunidades de alto retorno e disciplina financeira; 2) A venda de uma participação de 70% na Alphaville para a Blackstone e Pátria reduzirá significativamente a alavancagem da Gafisa; 3) A Tenda está relançando suas operações sob um novo modelo de negócios rentável.
2. Safe-Harbor Statement
We make forward-looking statements that are subject to risks and uncertainties. These
Statements are based on the beliefs and assumptions of our management, and on information
currently available to us. Forward-looking statements include statements regarding our intent, belief
or current expectations or that of our directors or executive officers.
Forward-looking statements also include information concerning our possible or assumed future
results of operations, as well as statements preceded by, followed by, or that include the words
''believes,'' ''may,'' ''will,'' ''continues,'' ''expects,'‘ ''anticipates,'' ''intends,'' ''plans,'' ''estimates'' or
similar expressions.
Forward-looking statements are not guarantees of performance. They involve risks, uncertainties
and assumptions because they relate to future events and therefore depend on circumstances that
may or may not occur. Our future results and shareholder values may differ materially from those
expressed in or suggested by these forward-looking statements. Many of the factors that will
determine these results and values are beyond our ability to control or predict.
2
3. Agenda
Wilson Amaral
Chief Executive Officer, Gafisa
Antonio Carlos Ferreira Rosa
Business Development Officer, Gafisa
Flavio Fernandes
Business Development, Tenda
Mario Rocha Neto
Construction Officer, Gafisa
Marcelo Willer
Business Development Officer, Alphaville
Duilio Calciolari
Chief Financial Officer and Investor Relations Officer, Gafisa
3
5. Histórico
1954 2005 2006 2007 2008 2009
• Gafisa • Equity Int’l • IPO • Follow-on •60% control • Gafisa
founded (Sam Zell) of Tenda announces
invests • Alphaville •NYSE listing intention tp
Acquisition incorporate
100% of
Tenda
• Valuation of
AUSA 20%
6. Shareholders’s Structure
Other Shareholders *
´
Shareholder´s Structure*
6%
13.7% 86.1%
19%
49%
26%
ADRs Institucional Internacional Institucional Local Individual
Average daily trading volume: R$120.6 million**
Average Daily Turnover in the last 90 days over free float – 2.9%
*Source: Itaú Custódia – 12/11
** Nov 2nd – Nov 25th, 2009
7. Delivering Goals Established Since IPO
Gafisa was extremely efficient in the use of proceeds from its previous issuances
Before IPO After IPO After Follow On / NYSE
Proceeds from equity
R$494 mm R$488 mm
offerings:
40% a.a. 3,200
90% a.a. 2,578
Contracted sales 18% a.a.
1,627
1,627
(R$ mm) 995
325 450 450
254
1
2003 2004 2005 2005 2006 2007 2007 2008 2009
Ajusted EBITDA
Margin
13% (2005) 14% (2006) 20.4% (3T09)
Cities: 13
Geographic 35 100
diversification
States: 8 16 21
9M09
Product 100% 100% 45% 48%
diversification2
Gafisa Gafisa 8%
Gafisa Alphaville Tenda
Note:
1 Considers the mean of Gafisa’s guidance for 2009
8. Strategy Adopted
End of 2008:
• Seizing opportunities – Tenda´s Acquisition;
• Preserving liquidity of the Company – 2009 Uncertainties.
Beginning of 2009:
• Conservative strategy launch;
• Focus on the sales of inventory.
End of 2009:
• Recovering of launches;
• Accelerate future growth.
3.394 Inventory / Launches – R$ million 4Q09 Launches
Estimates
2.929 2.814
2.679
2.301
1.000
747 626 514
160
4Q08 1Q09 2Q09 3Q09 4Q09E 2009E
Inventory Launches
10. Incorporation of Alphaville
In October 2006 we entered into a definitive agreement to acquire 100% of
Alphaville in 3 steps:
60% immediately(January,2007);
40 % in the next 5 years:
- 20% in the beginning of 2010
- 20% in the beginning of 2012
The 20% regarding 2010 is being analyzed at the moment;
Gafisa is analyzing possible synergies in back office areas, always aiming to
keep the brands separated.
11. Incorporation of Tenda
In November 9th, 2009, Tenda´s Independent Committee and Gafisa´s
administrators stipulated shareholders shall receive 0.205 common Gafisa´s
shares, for each Tenda´s share;
Extraordinary General Shareholders’ Meeting scheduled for 12/23;
Structure after incorporation:
Shared back office areas;
Independent brands focused on their own segments.
Tenda will keep its differentiated structure and well succeed sales through its own
stores and also its method of construction
13. Potencial Demand Growth And Still Low Bid
The increase in purchasing power and number of families is expected to support
residential real state demand in the coming decades
Number of families (mm) Population and
2007 2030 2007 2017E 2030E
and monthly income (mm) Families
Above R$32 thousand 0 0% 0,3 0% Families 60.3 75.6 95.5
R$16 mil - R$32 thousand 0,3 0% 1,3 1% Population 189.1 211.2 233.6
R$8 mil - R$16 thousand 1,1 2% 4,3 5% Person per house 3.1 2.8 2.4
R$4 mil - R$8 thousand 3,3 5% 11 12%
R$2 mil - R$4 thousand 8,4 14% 21,8 23% Número de mudanças de domicílio por pessoa
R$1 mil - R$2 thousand 15,5 26% 27,6 29%
Brazil Mexico G7
Up to R$1 thousand 31,7 53% 29,1 31%
TOTAL 60,3 100% 95,4 100% 1.8x 4.0x 9-10x
Housing deficit in Brazil is now R$6.8 million in 2008.
Source: IBGE, FGV, Bloomberg, Central Bank
14. Perspectivas
Gafisa reaffirm the full-year guidance for sales in 2009:
R$ 3.2 billion in contracted sales
4Q09 launches are over R$ 1.2 billion;
We continue with an optimistic outlook for the sector.
16. 2008 / 2009 Scenario
The financial crisis impacts the speed of property sales:
Insecure clients;
Concerns about unemployment;
Financial health of developing companies;
Delivery capacity.
Gafisa strategies for 2009:
Sales focused on remaining developments;
Sales will only start when there is a sufficient sales reservation level that guarantees
approximately 40% of sales in the start;
Launch only when the hiring of construction financing is guaranteed;
Institutional campaign Compra Segura (Safe Acquisition).
17. Special Reservation
1st Quarter
510 Units sold
165 million in PSV
2nd Quarter
391 units sold
136 million in PSV
20. Launches – 9M09
PARÁ – R$35.3 million
MARANHÃO – R$20.6 million
AMAZONAS – R$42.1 million
BAHIA – R$40.9 million
RONDÔNIA – R$40.3 million
RIO DE JANEIRO – R$63.2 million
GOIÁS – R$60.5 million
R. G. DO SUL – R$15.9 million SÃO PAULO – R$368 million
TOTAL: R$687 million
21. 2009
Special Special
Reservation Reservation
Focus on Remaining Focus on Remaining Speed up in the Focus on
Developments Developments volume of launches Launches
Jan Mar Jun Sep Dec
Launches: 138 thousand Launches: 352 thousand Launches : 197 thousand 10 Launches
Sales: 270 thousand Sales: 390 thousand Sales : 384 million expected
10% launches 34% launches 45% launches
90% stock 66% stock 55% stock
22. Launches
PAULISTA CORPORATE
RESERVA IBIAPABA
Launch: OCT
Launch: OCT
City: São Paulo – SP
City: Belém – PA
PSV: R$72 million
PSV: R$17 million
PARQUE MACEIÓ
Launch: OCT
City: Maceió – AL LONDON VILLE
PSV: R$15 million Launch: OCT
City: Barueri – SP
PSV: R$71 million
23. Launches CITY PARK EXCLUSIVE
VISION BROOKLIN Launch: NOV
VISTA PATAMARES
Launch: NOV City: Salvador – BA
Launch: NOV
City: São Paulo – SP PSV: R$12 million
City: Salvador – BA
PSV: R$117 million
PSV: R$37 million
OFFICE LIFE
Launch: NOV
City: Curitiba – PR
PSV: R$26 million
24. Launches
GLOBAL OFFICE
Launch: DEC
City: Niterói – RJ
PSV: R$33 million
IT
Launch: DEC
City: São Paulo – SP
PSV: R$177 million
25. Landbank
Landbank Gafisa of 7.1 billion in potential PSV - 3Q09
Midwest 2%
South 4%
North 7% RJ 14%
Southeast
64% SP 44%
Northeast 23%
ES 2%
MG 4%
26. Importance of Local Partners
Knowledge of Knowledge of Easier access to Access to Mitigate Local
local market local culture local agencies business entry operational
reducing the opportunities barriers support
time for
approvals
27. Brand
Safe
Acquisition
Developments
Delivered
55 Years
Campaign
30. Real Estate Industry – Economic Segment
Favorable Scenario
Family Dynamics Residential Market Economic
Segment
Housing Deficit Units Expected
Region Housing Deficit* Coverage
(MCMV)**
North 897,544 103,018 11%
Northeast 2,354,132 343,197 15%
Brazilian Middle-Class Midwest 324,615 69,785 21%
Southeast 2,629,497 363,984 14%
Growth South 625,521 120,016 19%
TOTAL 6,831,309 1,000,000 15%
*Source: 2008 Housing Deficit in Brazil - FGV
** Manual MCMV Program - Federal Government. Preliminary distribution subject to
MCMV changes due to the contribution of States and Municipalities
= Opportunities
31. Real Estate Industry – Economic Segment (Southeast)
São Paulo Metropolitan Region (RMSP) in 2009: 19,986 units launched (60% Affordable/Economic Segment)
Growth in Units Launched - RMSP
Evolução Unidades Lançadas - RMSP
Total Affordable Economic
38,990
34,475
58% 60%
50%
19,986
15,117
13,085
10,058 Source: EMBRAESP;
6,402 4,978 2009 data up to November;
1,956 Affordable: Units up to 99 thousand and
Economic: units from 100 thousand to 250
thousand.
2007 2008 2009
Rio de Janeiro Metropolitan Region in 2009: 10.427 units launched (90% Affordable/Economic Segment)
Units Launched 2008 2009
Affordable 2,390 3,037 Source: VSO – ADEMI-RJ survey;
Economic 13,025 6,381 2009 data up to November;
Affordable: Units up to 50 square meters
Overall Total 18,011 10,427 and Economic: units from 51 to 100 square
meters.
32. Minha Casa, Minha Vida (My House, My Life)
Highlights Simulation of impact on the market size
Average price of the unit Minha Casa,
Before Minha Vida
R$80,000
Financing of 1 million homes with subsidies of
up to R$23 thousand for families with monthly Subsidies 0 16,000
income of up to 10 minimum wages (R$4,650)
Mortgage 80,000 64,000
Package totaling R$34 billion (Federal
Cost (TR+) 7% 5%
Government, FGTS and BNDES)
Monthly installment 665 394
Property financing from R$80 thousand to R$130
thousand Monthly income
required 2,661 1,969
Interest rates from TR+5% to TR+8% # of minimum wages 6.4 4.2
Market included 13.4 23.4
Financing to construction companies of 100% of (millions of homes)
the unit value
With no down payment and monthly payments
during construction for families with monthly Additional market: increase of
income of up to 3 minimum wages approximately 10 million homes
Source: Market reports
32
33. Minha Casa, Minha Vida Program - CEF
Contracts under Analysis – ‘000
Nov 567
Nov 107 138 322
Oct 447 120
Out 83 116 248
Sep
Set 73 93 173
339 108
Aug
Ago 64 69 117
249 90
Jul 38 44 63 145 104 66 to 10 minimum wages
a 10 salários mínimos
Jul
Jun 23 25 25 73 33 to salários mínimos
a 6 6 minimum wages
Jun 72
00 to salários mínimos
a 3 3 minimum wages
Units Contracted – ‘000
Nov
Nov 18 56 103 176
Oct
Out 16 45 66 127
49
Sep
Set 12 35 38 85 42
Aug
Ago 9 28 26 63
22 6 ato 10 minimum wages
6 10 salários mínimos
Jul
Jul 6 20 15 41 22 3 ato 6 minimum wages
3 6 salários mínimos
Jun
Jun 5 13 8 26
15 0 ato 3 minimum wages
0 3 salários mínimos
Fonte: CEF
34. Units Contracted - Tenda
Units Sold Units Concluded Units Contracted
1Q09 3,157 1,305 1,036
2Q09 4,366 2,151 987
3Q09 4,114 1,417 1,436
Total 11,637 4,873 3,459
35. Sales and Launches – Regional Distribution (9M09)
Launches: 61 480 million Launches
million 978 million Sales
Sales: 43
million
Launches: 25
million
Sales: 142 million
Launches: ND
Sales: 62 million Launches: 300
million
Sales: 674 million
Launches: 94 Domestic Presence
million
32 Stores
Sales: 58 million
64 Cities
15 States
36. Sales Model
TENDA’s sales model is more convenient to its clients, offering a wide range of products
through strategically-located stores.
Conventional Model TENDA Sales Model
Sales in individual stands in different
Sales in centralized stores
locations
offering several projects
S S S
S • A well-trained and dedicated sales team helps our clients find
the more appropriate property and financing
• Stores located in busy areas
• Generally, it uses outsourced real estate agents
• The stores offer a greater variety of products and locations
• Sales stands exclusive for each project that better meet customer needs
37. Tenda Products Portfolio
Type GARDEN DUO LIFE TOWER PREMIUM
Buildings (4 or 5 Buildings Buildings
Description House Townhouse stories without (with elevator) (with elevator)
elevator)
Average Unit 51.0 m2 38.0 m2 39.5 m2 46.0 m2 45.0 m2
46.5 m2 66.5 m2 70.0 m2 70.0 m2
Average Price
(R$/m²) R$ 64.4 R$ 78.3 R$ 76.8 R$ 91.9 R$ 118.0
Share of Sales
15% 2% 54% 10% 19%
(9M09)
Affordable Economic
3-6 6-10
minimum wages minimum wages
38. Super 6
6% down payment
6 months to pay the first installment
6 months to delivery
Standard 1st to 6th month 7th to 19th month 20th month
1st month 2nd to 4th 6th month Launch
Super 6
month Construction
Delivery
Revenue necessary for acquisition
During the
Down payment Bank financing
construction
Super 6 6% - 94%
Standard 20% 80%
39. Launches – 4Q09
Opportunity for sales speed increase in launches
Project City State Type Launch Units PSV % sales
Vale Verde Cotia Fase 4 -
Cotia SP Super 6 Oct-09 272 23 43%
Etapa I
Lago dos Patos Guarulhos SP Premium Oct-09 140 24 23%
Fit Marodin (Jardins) Porto Alegre RS Premium Oct-09 120 25 42%
Parque Green Village Goiânia GO Premium Oct-09 176 16 27%
Mirante do Lago Fase 2 Belém PA Premium Oct-09 144 23 13%
Clube Garden - Mônaco São Paulo SP Super 6 Oct-09 192 20 99%
Vivenda do Sol Porto Alegre RS Standard Oct-09 200 14 4%
Vale Verde Cotia Fase 4 -
Cotia SP Standard Oct-09 224 19 36%
Etapa II
Residencial Monet Lauro Freitas BA Super 6 Nov-09 80 7 74%
Residencial Monet II Lauro Freitas BA Super 6 Nov-09 120 10 27%
Portal do Sol Itaquaquecetuba SP Standard Nov-09 300 24 16%
Carvalhaes Belford Roxo RJ Super 6 Dec-09 128 12 64%
TOTAL 2,096 217
40. Launches 4Q09 – Super 6
VALE VERDE COTIA (PHASE 4)
Launch: OCT
City: Cotia – SP
PSV: R$42 million
43% Sold
CLUBE GARDEN - MÔNACO
Launch: OCT
City: São Paulo – SP
PSV: R$20 million
99% Sold
41. Launches 4Q09 – Super 6
CARVALHAES
Launch: DEC
City: Belford Roxo – RJ
PSV: R$12 million
64% Sold
42. 2010 Strategy
Acquisition of strategic landbank aimed to increase operations;
To increase the share of short cycle projects (Super 6) in the product portfolio;
Opportunity to increase the sales speed in launches;
To optimize the operational efficiency (Gain of Scale).
44. Presentation Content
Volume of Projects
Projects by Region
Development of New Technologies
Cycle Reduction – Brink and Super 6
Sustainability – Eldorado and Genesis
Organization Chart and People Qualification
45. Volume of Projects
370
290
270
195
85
48 63
85 95 100
48 63
2006 2007 2008 2009 2010 E
Tenda Gafisa
Equivalent to 4,100 thousand/sq.m.
46. Projects by Region
REGION GAFISA TENDA TOTAL %
SP/ SPI 37 53 90 34%
RJ 19 27 46 17%
Northeast 18 26 44 17%
MG 0 37 37 14%
North/
Midwest 13 17 30 11%
South 4 13 17 6%
47. Projects by Region
REGION GAFISA TENDA TOTAL %
SP/ SPI 37 53 90 34%
RJ 19 27 46 17%
Northeast 18 26 44 17%
MG 0 37 37 14%
North/
Midwest 13 17 30 11%
South 4 13 17 6%
57. Sustainability – Eldorado and Gênesis
ELDORADO
LEED® C&S PLATINUM Certification;
Elevators;
Water reuse;
Air Conditioning and Lighting System;
GÊNESIS
FSC and ISO14001 Certification;
No trees cut down;
800,000 sq.m. Permanent Preservation Area;
58. Organization Chart
Managing Director of
Operations
Mário Rocha
Control and Planning of
Operations Department
Marcelo Souza
Physical and Financial Planning
SP Regional Dept
Department of Tenda’s Technical Gafisa’s Technical Fernando Thirty Parties Dept
Supplies Department Department
RJ Regional Dept
Carlos Luis Ciniello
Eduardo Calderon Luis Magini José Marmo
MG Regional Dept
Ronny
North/Midwest Reg
Dept - Gerson
Northeast Reg Dept
Sergio
South Reg
Department -
Sidney
Hiring / Supply Process/ Technology
Price Execution
59. People Qualification
INTERNSHIP PROGRAM
2009 – In July 13 people were hired;
2009 – hiring estimate of 103 people.
TRAINEE PROGRAM CURRENT STAFF
2009 – 8 trainees; POSITION #
OFFICERS 12
2010 – 11 trainees under training.
MANAGERS 52
ENGINEERS+ARCHITECTS 340
PEOPLE ACTIONS INTERNS 558
“Comece Bem” (Start Well) program;
TRIADE Training (Time management);
INDG Training.
61. Project Design
An average Alphaville project
LEASURE
RESIDENCIAL AREA
AREA
RESIDENCIAL
AREA
COMMERCIAL
ALPHAVILLE
CLUB
COMMERCIAL RESIDENCIAL
Highly sustainable Business Model
AREA
AREA AREA
BUILDING AREA No Land Acquisition – Negotiations thru land swap
No investment in infrastructure prior to launching
No bank financing for customers
AlphaVille Graciosa (Curitiba, Paraná)
No bank financing for specific projects – leverage on
holding
62. Complex Project Approval
Long and complicated process is an entry barrier to the segment
DUE DILIGENCE / PARTNERS/ LAND
PROJECT MARKETING
ACQUISITION CONSTRUCTION OCUPATION
STRATEGIC ANALIZYS APPROVAL & SALES
3 years 2 years
STRATEGIC ANALIZYS Analizys of legal and ambiental aspects, location, market and feasebility studies
PARTNERSHIP/LAN Contract with land owner
D ACQUISITION
PROJECT Development of regions planning to be submitted to local authorities for analysis,
APPROVAL registration and approval. This process takes in average three years and deals with
federal and local authorities.
MKT & SALES In average, 80% of units sold at launch
CONSTRUCTION AlphaVille manages construction process and generally contracts third parties to operate
the work flow. Average developments takes 2 years from beginning to delivery
OCUPATION In this last phase, clients are allowed to develop house projects and begin
´
construction of units with AlphaVille´s support and specific regulations of the new
condominium 62
63. Strategy And Growth
Boa Vista
Belém
São Luís
Manaus
Fortaleza
Teresina
Natal
Mossoró
João Pessoa
Recife Caruaru
Cuiabá
Salvador Feira de Santana
Camaçari
Goiânia
Brasília
Belo Horizonte Juiz de Fora Vitória Vitória
Campo Grande Campo Grande Barra da Tijuca Barra da Tijuca
Rio das Ostras Rio das Ostras
Maricá
Londrina
Curitiba Barueri S. J. dos Campos
Maringá Campinas Ribeirão Preto Launched
Foz do Iguaçu Florianópolis Sorocaba Jundiaí
Gramado Contracted areas
Carapicuiba Cotia
Gravataí Piracicaba Cajamar
Porto Alegre Campinas
Porto Alegre Votorantim
Caxias do Sul Itatiba
Novo
Hamburgo
64. Growth – Sales And Launches
46% CAGR in sales from 2006 to 2008
Number of projects and VGV Sales growth (R$ mm)
18 400
FY 2009
R$ 312 mm
15 FY 2009 70 %
R$ 312 mm 300
300
12 11 70 % 238
9 R$ 237 mm R$ 237 mm 200 173
6 140
6 R$ 111 mm 5
R$ 133 mm
3 100
3
0 0
2006 2007 2008 9M09 2006 2007 2008 9M09
65. 2008 Sales Velocity And Latest Launches
Launched VGV - R$ M M 29 118 53
Sold VGV - R$ M M 16 106 51
VSO - sales velocity 56% 90% 95%
Launched units 205 429 216
Average price - R$ x1.000 142 274 245
66. 4Q09 Launches
RIO COSTA DO SOL F1
Empreendimentos Lançados 4Q09
Porto Alegre
Piracicaba
Rio Costa do Sol F3
Gravataí II
Terras Alpha Foz do Iguaçu
RIO COSTA DO SOL F3 – launched Dec-09
VGV Lçdo até 3T09 R$ 133 MM
VGV Lçdo 4T09 R$ 278 MM
VGV Lçdo YTD R$ 411 MM
67. Potential Diversification
Diversification strengthening the long-term growth.
Non considered potencial growth in
constructed products
Terras Alpha LS 3% RSC 5%
2% Terras Alpha
Launches 66% 9%
Launches 48%
Rem. 29%
Rem. 38%
2009 - New Products- 2014
68. Land bank
Landbank of R$ 3.3 billion at the end of 3Q09
January 1st 2009 3,032
Land Bank position in Sep-09 3,336
Terreno Brasília – 23 million m2 LAND BANK BY REGION
SP
31%
NM
61% RJ
8%
72. Crescent EBITDA Margin
2006 – IPO and geographic expansion into new markets;
2007 – Follow-on and initiatives in low income segment;
2008 – Consolidation of initiatives in low-income - Acquisition of 60% of Tenda;
2009 – Incorporation and changes in Tenda’s management;
2010E – Synergies of Tenda’s total merger, better dilution of SG&A.
EBITDA Magin - %
20.2%
20%
18% 17.3%
16% 15.0%
14.0%
14% 12.9%
12%
10%
2005 2006 2007 2008 9M09
73. Strong Pre-Sales Positively Impact Backlog of Revenues
to be Recognized
R$1.1 billion of results to be recognized (42.8% growth compared to 3Q08)
(R$000) 3Q09 3Q08 2Q09 3Q09 x 3Q08 3Q09 x 2Q09
Gafisa Revenues to be recognized 1.661 1.738 1.905 -4.4% -12.8%
Costs to be recognized (1.051) (1.100) (1.199) -4.5% -12.4%
Results to be recognized (REF) 609 637 706 -4.4% -13.6%
REF margin 36.7% 36.7% 37.0% 24 bps -34 bps
Tenda 1) Revenues to be recognized 1.245 234 1.187 432.6% 4.8%
Costs to be recognized (839) (160) (768) 425.3% 9.2%
Results to be recognized (REF) 406 74 419 448.5% -3.1%
REF margin 32.6% 31.7% 35.3% 94 bps -267 bps
Consolidated Revenues to be recognized 2.905 1.971 3.092 47.4% -6.0%
Costs to be recognized (1.890) (1.260) (1.968) 50.0% -4.0%
Results to be recognized (REF) 1.015 711 1.125 42.8% -9.7%
REF margin 35.0% 36.1% 36.4% -113 bps -142 bps
Note: Revenues to be recognized are net from PIS/Cofins (3.65%). Backlog of Revenues not adjusted to
present value.
1) Considers Tenda and Fit Residencial in 2008
74. Continuous Increase in Our Mortgage Sales (Gafisa)
82% of mortgage financed directly with banks
16%
34%
30% 64%
74%
82%
32%
54% 20%
12%
34%
11%
16% 14%
7%
2005 2006 2007 9M08 9M09
Gafisa financing longer than 36 months
Gafisa direct financing up to delivery of keys
Mortgage loans
75. “Minha Casa, Minha Vida” Program - CEF
Submitted Units– ‘000
567
Nov 107 138 322
447 120
Oct 83 116 248
Sep 73 93 173
339 108
Agu 64 69 117
249 90
Jul 38 44 63 145 104 6 a 10 minimun wage
Jun 23 25 25 73 3 a 6 minimun wage
72
0 a 3 minimun wage
Contracted Units – ‘000
Nov 18 56 103 176
Out 16 45 66 127
49
Set 12 35 38 85 42
Ago 9 28 26 63
22 6 a 10 salários mínimos
Jul 6 20 15 41 22 3 a 6 salários mínimos
Jun 5 13 8 26
15 0 a 3 salários mínimos
Source: CEF
76. Contracted Units - Tenda
Sold Units Concluded Units Contracted Units
1Q09 3,157 1,305 1,036
2Q09 4,366 2,151 987
3Q09 4,114 1,417 1,436
Total 11,637 4,873 3,459
77. Solid Cash Position Allows Gafisa To Execute The
Growth Strategy And Access Credit
3Q09
R$ million 2Q09 3Q09 Pro
forma*
Total Debt 2,243 2,532 2,532
Total Cashl 1,056 1,100 1,700
Obligation to Investors 300 300 300
Net Debt & Obligation to Investors 1,486 1,732 1,732
(Net Debt & Obligation to Investors) / (Equity+ Minorities) 65.6% 74.1% 74.1%
Cash-burn rate 111 246 246
* Considera a nova debênture de R$ 600 milhões no caixa do 3T09.
78. 3Q09 Financial Highlights And Recent Events
Gafisa settled in December 10th the R$600 million debenture with Caixa.
R$1.1 billion in cash+ R$ 600 million of the new debenture.
R$3.5 billion in construction financing lines made available by Brazil’s largest banks:
R$2.1 bilhões em contratos assinados + nova debênture de R$ 600 milhões
R$1.1 billion contracts in progress
Ratings:
Moody’s: international (Ba2) and local (A1.br)
Fitch: (A-bra)
Standard & Poor’s: local (br A-)