Gafisa is a Brazilian real estate developer that has undergone a strategic shift since 2011 to focus on profitable opportunities in core markets and reduce leverage. It completed the first stage of its turnaround in 2012 through measures like reducing launches and prioritizing cash flow. Gafisa entered 2013 with improved liquidity and recently agreed to sell a 70% stake in its subsidiary Alphaville to private equity firms for $1.4 billion, which will significantly reduce its debt levels. The transaction maintains Gafisa's 30% stake in Alphaville and positions it for future growth opportunities while improving its balance sheet.
The document provides an overview of Gafisa S.A., a Brazilian real estate developer, including:
1) Gafisa has grown significantly since 2004 through both organic growth and acquisitions. It focuses on core market regions in Brazil.
2) In 2012, Gafisa prioritized deleveraging and cash generation by reducing launch volumes and focusing on core regions.
3) Gafisa has agreed to sell a 70% stake in its subsidiary Alphaville to investment firms Blackstone and Patria for $1.4 billion, reducing its leverage significantly.
4) Post-transaction, Gafisa will have a more flexible balance sheet and be better positioned to focus
This document contains the Q1 FY2017 earnings results presentation from Nimble Storage. It discusses Nimble's strong revenue growth, gross margins, and cash position. Key highlights include 82% growth in revenue, gross margins between 63-65%, and over $200M in cash. The presentation outlines Nimble's strategies to continue driving revenue growth through new customer acquisition, larger transactions, and expanding existing customers. Financial guidance for Q2 FY2017 projects revenue of $93-96M and a non-GAAP operating loss of $16-18M.
Petrofac reported net profit of $581 million for 2014, in line with previous guidance. The company has a record backlog of $18.9 billion providing revenue visibility through 2015 and beyond. Impairment charges were taken on certain projects totaling $461 million. The company is well positioned competitively with a focus on cost optimization and maintaining margins.
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.
- Third quarter results were mixed with progress made on strategic initiatives but overall financial results were unacceptable.
- Revenue increased due to acquisitions but was offset by declines in other areas, while gross profit margins grew.
- Expectations are for flat to declining revenue in the near term as complexity reduction plans are accelerated, but these plans aim to improve free cash flow and margins.
Gafisa reported its 4Q12 and full year 2012 results on March 12, 2013. Key highlights included:
1) Positive consolidated free cash generation of R$381mn in 4Q12 and R$685mn in 2012, exceeding cash flow guidance.
2) Unit deliveries increased 20% to 27,107 units in 2012, exceeding guidance.
3) Launches totaled R$1.49bn in 4Q12 and R$2.95bn for the full year, near the high end of guidance.
4) Actions taken in 2012 positioned the company with a comfortable cash position and improved balance sheet as it prepares to accelerate investments in 2013.
- 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%.
Barnes Group Inc. Investor Overview - March 2016Terri Chapman
The document provides an investor overview for Barnes Group from March 2016. It discusses Barnes Group's business segments, end markets served, financial performance trends, and growth strategies. Some key points:
- Barnes Group has two business segments: Industrial and Aerospace, serving a variety of end markets globally.
- The company has transformed its portfolio through acquisitions since 2010, increasing its aerospace business from 32% to 65% of sales.
- Financial metrics like adjusted operating margins and EPS have increased steadily in recent years and are expected to continue growing.
- Growth strategies focus on intellectual property, portfolio enhancements, sustainable end markets, global expansion, and talent development.
The document provides an overview of Gafisa S.A., a Brazilian real estate developer, including:
1) Gafisa has grown significantly since 2004 through both organic growth and acquisitions. It focuses on core market regions in Brazil.
2) In 2012, Gafisa prioritized deleveraging and cash generation by reducing launch volumes and focusing on core regions.
3) Gafisa has agreed to sell a 70% stake in its subsidiary Alphaville to investment firms Blackstone and Patria for $1.4 billion, reducing its leverage significantly.
4) Post-transaction, Gafisa will have a more flexible balance sheet and be better positioned to focus
This document contains the Q1 FY2017 earnings results presentation from Nimble Storage. It discusses Nimble's strong revenue growth, gross margins, and cash position. Key highlights include 82% growth in revenue, gross margins between 63-65%, and over $200M in cash. The presentation outlines Nimble's strategies to continue driving revenue growth through new customer acquisition, larger transactions, and expanding existing customers. Financial guidance for Q2 FY2017 projects revenue of $93-96M and a non-GAAP operating loss of $16-18M.
Petrofac reported net profit of $581 million for 2014, in line with previous guidance. The company has a record backlog of $18.9 billion providing revenue visibility through 2015 and beyond. Impairment charges were taken on certain projects totaling $461 million. The company is well positioned competitively with a focus on cost optimization and maintaining margins.
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.
- Third quarter results were mixed with progress made on strategic initiatives but overall financial results were unacceptable.
- Revenue increased due to acquisitions but was offset by declines in other areas, while gross profit margins grew.
- Expectations are for flat to declining revenue in the near term as complexity reduction plans are accelerated, but these plans aim to improve free cash flow and margins.
Gafisa reported its 4Q12 and full year 2012 results on March 12, 2013. Key highlights included:
1) Positive consolidated free cash generation of R$381mn in 4Q12 and R$685mn in 2012, exceeding cash flow guidance.
2) Unit deliveries increased 20% to 27,107 units in 2012, exceeding guidance.
3) Launches totaled R$1.49bn in 4Q12 and R$2.95bn for the full year, near the high end of guidance.
4) Actions taken in 2012 positioned the company with a comfortable cash position and improved balance sheet as it prepares to accelerate investments in 2013.
- 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%.
Barnes Group Inc. Investor Overview - March 2016Terri Chapman
The document provides an investor overview for Barnes Group from March 2016. It discusses Barnes Group's business segments, end markets served, financial performance trends, and growth strategies. Some key points:
- Barnes Group has two business segments: Industrial and Aerospace, serving a variety of end markets globally.
- The company has transformed its portfolio through acquisitions since 2010, increasing its aerospace business from 32% to 65% of sales.
- Financial metrics like adjusted operating margins and EPS have increased steadily in recent years and are expected to continue growing.
- Growth strategies focus on intellectual property, portfolio enhancements, sustainable end markets, global expansion, and talent development.
- The Nigerian economy and business environment remained very challenging in FY2016 due to low oil prices, FX shortages, high inflation, and low consumer spending. This negatively impacted Guinness Nigeria's financial performance.
- The brewing industry saw declines in both volume (3.6%) and value (13.9%) in FY2016. However, the value beer segment grew significantly as consumers traded down due to economic hardship.
- Guinness Nigeria recorded a loss after taxation for FY2016 due to the difficult operating environment, but believes strategic initiatives being implemented will return the company to profitability in coming years.
http://parker.com/aboutus - Parker continues to push the bounds of what is possible by collaborating with researchers to develop innovations that can have a meaningful impact on people’s lives.
The innovative filtration system shown on the cover of this report utilizes several Parker technologies and represents a promising advancement in fighting cancer. The device supports a treatment designed to enhance the body’s ability to use its own immune system to attack cancer cells. This treatment could provide a nontoxic alternative to improve the lives of both early and late-stage cancer patients.
The examples throughout this report showcase what can be done when we apply our technology and engineering expertise to help solve some of the world’s greatest engineering challenges. Today, Parker is uniquely positioned to partner on innovations that matter to people by advancing health care and improving the quality of life.
Download at this link
http://www.parker.com/parkerimages/Parker.com/About%20Us/Literature/Parker%20Annual%20Report%20Final%20WEB%2019Sept2014.pdf
The document is the annual report and consolidated financial statements of Oando PLC for the year ended 31 December 2016. It includes the directors' report, statement of profit or loss, statement of other comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows, and notes to the financial statements.
Some key details from the financial statements include:
- Revenue for the group was N455.7 billion for 2016, compared to N203.4 billion in 2015. The group reported a net profit of N3.5 billion for 2016 compared to a net loss of N49.7 billion in 2015.
- The group reported a loss from continuing operations of N25.8 billion
1) The document summarizes Banco BI&P's restructuring over the past two years under new management, including renewing 80% of its sales team, repositioning its target market, reconstructing its credit portfolio, and expanding its product offerings.
2) It announces completing a capital increase of up to R$92 million to strengthen its capital base and concludes its restructuring with the acquisition of an investment banking team.
3) Management discusses taking additional loan loss provisions of R$126.5 million in 1Q13 to strengthen reserves against loans originated before 2011 and eliminate potential future problems, resulting in a R$91.4 million 1Q13 loss but improved coverage of lower quality loans.
- The document is AES Corporation's fourth quarter and full year 2014 financial review presentation. It provides an overview of AES' 2014 financial results, strategic achievements, capital allocation plans, and guidance for 2015.
- Key highlights include adjusted EPS of $1.30 for 2014, proportional free cash flow of $891 million, $1.8 billion in equity proceeds from asset sales, and plans to continue investing in growth while returning capital to shareholders through dividends and share repurchases.
- For 2015, AES is lowering adjusted EPS guidance to $1.25-1.35 due to currency and commodity headwinds, but reaffirming proportional free cash flow guidance of $1,000-1,350
- The document is AES Corporation's fourth quarter and full year 2014 financial review presentation. It provides an overview of AES' 2014 financial results, strategic achievements, capital allocation plans, and guidance for 2015.
- Key highlights include adjusted EPS of $1.30 for 2014, proportional free cash flow of $891 million, $1.8 billion in equity proceeds from asset sales, and plans to continue investing in growth while returning capital to shareholders through dividends and share repurchases.
- For 2015, AES is lowering adjusted EPS guidance to $1.25-$1.35 due to currency and commodity headwinds, but reaffirming proportional free cash flow guidance of $1,000-$1,350
Zep Inc. provides a company overview and discusses its markets, brands, and strategic initiatives. Key points include:
- Zep sells highly effective chemicals to maintain, clean, and protect assets in transportation, industrial, and janitorial markets.
- It has a trusted family of brands and markets over 4,000 formulas to over 200,000 customers.
- The company aims to consolidate facilities, reduce workforce, and realize cost savings from complexity reduction efforts to improve profitability.
- 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.
- 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%.
30 Years of Turning Goals Into Milestones: Zain's 2013 ِEnglish Annual ReportZain Group
At Zain, we work hard every day to improve the lives of our customers by introducing them to a wonderful world. Since our reality at Zain couldn't have been possible if we didn't envision it, we are committed to inspiring our customers to follow their dreams and live their full potential. In our world, tomorrow is Zain. You can learn more on our performance in 2013 in our annual report here.
Guinness Nigeria reported financial results for 2012 with a 2% increase in turnover to N126 billion but a 18% decrease in post-tax profit to N14.7 billion compared to 2011. The directors recommended a final dividend of 800 kobo per share, or shareholders have the option to receive scrip dividend of 1 share for every 33 shares held. The business environment in 2012 was very challenging with high inflation and FX volatility, though the brewing industry saw overall beer consumption decline by 7.4% in volume.
Hillenbrand reported financial results for Q4 2016 with the following highlights:
- Revenue increased 9% to $429 million driven by growth in the Process Equipment Group.
- Net income increased 88% to $36 million and adjusted EPS increased slightly to $0.58.
- The Process Equipment Group saw a 17% revenue increase while Batesville's revenue declined 4%.
- For the full 2016 year, revenue declined 4% to $1.54 billion while net income grew 1% and adjusted EBITDA margin improved.
- The company provided guidance for adjusted EPS of $2.10-$2.20 for FY2017.
Presentation by LafargeHolcim management, Jan Hofmann and Neeraj Akhoury, to members of the financial community at LafargeHolcim Capital Markets Day 2018
- The document is a presentation for Las Vegas Sands' 4Q14 earnings call that discusses financial results and provides an investment case for the company.
- Key highlights from 4Q14 include adjusted EPS growth of 27.8% and consolidated adjusted property EBITDA growth of 10.9%. Marina Bay Sands saw record results while Macao operations faced challenges in VIP and premium mass gaming.
- Las Vegas Sands remains committed to maximizing shareholder returns through growth, recurring dividends that have increased significantly each year, and over $9.6 billion returned to shareholders via dividends and share repurchases over the last 12 quarters.
20170808 calix q2 2017 financial results presentation webcast final (1)CalixInc
- Calix reported record Q2 2017 revenue of $126.1 million, up 17% year-over-year, with product revenue up 7% and service revenue up 158%.
- Non-GAAP gross margin was 34.5%, lower than expected due to higher costs to complete previously awarded projects.
- Operating expenses were $58.5 million (non-GAAP), in line with guidance. Net loss per share was ($0.30) (non-GAAP), impacted by lower margins.
- Guidance for Q3 2017 is revenue of $126-130 million and net loss per share of ($0.27)-($0.21) (non-GAAP), excluding
Camil Alimentos is a leading food company in Latin America with a diversified portfolio of brands in rice, beans, sugar, and canned fish. It has #1 market positions across its operating countries in various product categories. Camil has a processing and distribution network of 27 plants and 18 distribution centers across Brazil, Uruguay, Chile, and Peru. Despite economic challenges, Camil has consistently delivered double-digit revenue growth and maintained stable EBITDA margins above 10% due to its resilient business model.
This document provides an investor presentation for Banco ABC Brasil covering their strategy, business segments, funding and capital base, financial highlights, and ownership structure. It summarizes that Banco ABC Brasil provides commercial banking services in Brazil focused on corporate and middle market clients, with an emphasis on growing profitably in these segments through increased cross-selling. It also reviews the bank's diversified funding sources, strong capital and asset-liability management, improving credit quality, and majority ownership by Arab Banking Corporation.
This document is the annual report and financial statements for Dangote Flour Mills PLC for the year ended 31 December 2016. It provides an overview of the company's financial performance, including a 120.2% increase in turnover to N105.7 billion and a turnaround to a profit after tax of N10.6 billion compared to a loss of N12.7 billion in the prior year. It also summarizes the performance of the company's flour, pasta and noodles divisions. The chairman notes that while performance improved significantly, accumulated losses prevent the declaration of a dividend. The outlook for 2017 is also discussed.
- 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.
- Varun Beverages Ltd is an Indian beverage company and sole franchise of PepsiCo products in several countries.
- In 2017, the company divested its stake in a loss-making Mozambique subsidiary and increased its stake in a profitable Zambia subsidiary. It also established new production facilities in Zimbabwe and India.
- The company received rights to produce and distribute additional PepsiCo brands and acquired new territories in India through the purchase of PepsiCo's franchised territories in several states.
- Financial highlights show increased assets but decreased profits compared to the previous year. The company expects future profitability to rise through consolidation efforts and expanded product portfolio and territories.
Corporate Presentation for December 2010.
The presentation provides an overview of the company including its competitive advantages, operating and financial performance, and balance sheet. Key points include:
- The company has a national footprint and land bank that positions it to capture demand growth across all income segments.
- It has a track record of strong growth in launches, sales, revenues, and profitability in recent years.
- The balance sheet shows moderate leverage and diversified debt maturity profile.
- Gafisa reported financial results for the fourth quarter and full year of 2010 with increases in key metrics compared to previous periods
- Launch volumes, net revenues, adjusted gross profit, adjusted EBITDA, and net profit all increased between 3-154% from the fourth quarter of 2009
- For the full year 2010, launch volumes, net revenues, adjusted gross profit, adjusted EBITDA, and net profit increased between 23-309% compared to 2009
- Inventory levels increased 11% from the third quarter of 2010 to R$3.3 billion at the end of 2010 due to launches outpacing sales during the period.
- The Nigerian economy and business environment remained very challenging in FY2016 due to low oil prices, FX shortages, high inflation, and low consumer spending. This negatively impacted Guinness Nigeria's financial performance.
- The brewing industry saw declines in both volume (3.6%) and value (13.9%) in FY2016. However, the value beer segment grew significantly as consumers traded down due to economic hardship.
- Guinness Nigeria recorded a loss after taxation for FY2016 due to the difficult operating environment, but believes strategic initiatives being implemented will return the company to profitability in coming years.
http://parker.com/aboutus - Parker continues to push the bounds of what is possible by collaborating with researchers to develop innovations that can have a meaningful impact on people’s lives.
The innovative filtration system shown on the cover of this report utilizes several Parker technologies and represents a promising advancement in fighting cancer. The device supports a treatment designed to enhance the body’s ability to use its own immune system to attack cancer cells. This treatment could provide a nontoxic alternative to improve the lives of both early and late-stage cancer patients.
The examples throughout this report showcase what can be done when we apply our technology and engineering expertise to help solve some of the world’s greatest engineering challenges. Today, Parker is uniquely positioned to partner on innovations that matter to people by advancing health care and improving the quality of life.
Download at this link
http://www.parker.com/parkerimages/Parker.com/About%20Us/Literature/Parker%20Annual%20Report%20Final%20WEB%2019Sept2014.pdf
The document is the annual report and consolidated financial statements of Oando PLC for the year ended 31 December 2016. It includes the directors' report, statement of profit or loss, statement of other comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows, and notes to the financial statements.
Some key details from the financial statements include:
- Revenue for the group was N455.7 billion for 2016, compared to N203.4 billion in 2015. The group reported a net profit of N3.5 billion for 2016 compared to a net loss of N49.7 billion in 2015.
- The group reported a loss from continuing operations of N25.8 billion
1) The document summarizes Banco BI&P's restructuring over the past two years under new management, including renewing 80% of its sales team, repositioning its target market, reconstructing its credit portfolio, and expanding its product offerings.
2) It announces completing a capital increase of up to R$92 million to strengthen its capital base and concludes its restructuring with the acquisition of an investment banking team.
3) Management discusses taking additional loan loss provisions of R$126.5 million in 1Q13 to strengthen reserves against loans originated before 2011 and eliminate potential future problems, resulting in a R$91.4 million 1Q13 loss but improved coverage of lower quality loans.
- The document is AES Corporation's fourth quarter and full year 2014 financial review presentation. It provides an overview of AES' 2014 financial results, strategic achievements, capital allocation plans, and guidance for 2015.
- Key highlights include adjusted EPS of $1.30 for 2014, proportional free cash flow of $891 million, $1.8 billion in equity proceeds from asset sales, and plans to continue investing in growth while returning capital to shareholders through dividends and share repurchases.
- For 2015, AES is lowering adjusted EPS guidance to $1.25-1.35 due to currency and commodity headwinds, but reaffirming proportional free cash flow guidance of $1,000-1,350
- The document is AES Corporation's fourth quarter and full year 2014 financial review presentation. It provides an overview of AES' 2014 financial results, strategic achievements, capital allocation plans, and guidance for 2015.
- Key highlights include adjusted EPS of $1.30 for 2014, proportional free cash flow of $891 million, $1.8 billion in equity proceeds from asset sales, and plans to continue investing in growth while returning capital to shareholders through dividends and share repurchases.
- For 2015, AES is lowering adjusted EPS guidance to $1.25-$1.35 due to currency and commodity headwinds, but reaffirming proportional free cash flow guidance of $1,000-$1,350
Zep Inc. provides a company overview and discusses its markets, brands, and strategic initiatives. Key points include:
- Zep sells highly effective chemicals to maintain, clean, and protect assets in transportation, industrial, and janitorial markets.
- It has a trusted family of brands and markets over 4,000 formulas to over 200,000 customers.
- The company aims to consolidate facilities, reduce workforce, and realize cost savings from complexity reduction efforts to improve profitability.
- 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.
- 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%.
30 Years of Turning Goals Into Milestones: Zain's 2013 ِEnglish Annual ReportZain Group
At Zain, we work hard every day to improve the lives of our customers by introducing them to a wonderful world. Since our reality at Zain couldn't have been possible if we didn't envision it, we are committed to inspiring our customers to follow their dreams and live their full potential. In our world, tomorrow is Zain. You can learn more on our performance in 2013 in our annual report here.
Guinness Nigeria reported financial results for 2012 with a 2% increase in turnover to N126 billion but a 18% decrease in post-tax profit to N14.7 billion compared to 2011. The directors recommended a final dividend of 800 kobo per share, or shareholders have the option to receive scrip dividend of 1 share for every 33 shares held. The business environment in 2012 was very challenging with high inflation and FX volatility, though the brewing industry saw overall beer consumption decline by 7.4% in volume.
Hillenbrand reported financial results for Q4 2016 with the following highlights:
- Revenue increased 9% to $429 million driven by growth in the Process Equipment Group.
- Net income increased 88% to $36 million and adjusted EPS increased slightly to $0.58.
- The Process Equipment Group saw a 17% revenue increase while Batesville's revenue declined 4%.
- For the full 2016 year, revenue declined 4% to $1.54 billion while net income grew 1% and adjusted EBITDA margin improved.
- The company provided guidance for adjusted EPS of $2.10-$2.20 for FY2017.
Presentation by LafargeHolcim management, Jan Hofmann and Neeraj Akhoury, to members of the financial community at LafargeHolcim Capital Markets Day 2018
- The document is a presentation for Las Vegas Sands' 4Q14 earnings call that discusses financial results and provides an investment case for the company.
- Key highlights from 4Q14 include adjusted EPS growth of 27.8% and consolidated adjusted property EBITDA growth of 10.9%. Marina Bay Sands saw record results while Macao operations faced challenges in VIP and premium mass gaming.
- Las Vegas Sands remains committed to maximizing shareholder returns through growth, recurring dividends that have increased significantly each year, and over $9.6 billion returned to shareholders via dividends and share repurchases over the last 12 quarters.
20170808 calix q2 2017 financial results presentation webcast final (1)CalixInc
- Calix reported record Q2 2017 revenue of $126.1 million, up 17% year-over-year, with product revenue up 7% and service revenue up 158%.
- Non-GAAP gross margin was 34.5%, lower than expected due to higher costs to complete previously awarded projects.
- Operating expenses were $58.5 million (non-GAAP), in line with guidance. Net loss per share was ($0.30) (non-GAAP), impacted by lower margins.
- Guidance for Q3 2017 is revenue of $126-130 million and net loss per share of ($0.27)-($0.21) (non-GAAP), excluding
Camil Alimentos is a leading food company in Latin America with a diversified portfolio of brands in rice, beans, sugar, and canned fish. It has #1 market positions across its operating countries in various product categories. Camil has a processing and distribution network of 27 plants and 18 distribution centers across Brazil, Uruguay, Chile, and Peru. Despite economic challenges, Camil has consistently delivered double-digit revenue growth and maintained stable EBITDA margins above 10% due to its resilient business model.
This document provides an investor presentation for Banco ABC Brasil covering their strategy, business segments, funding and capital base, financial highlights, and ownership structure. It summarizes that Banco ABC Brasil provides commercial banking services in Brazil focused on corporate and middle market clients, with an emphasis on growing profitably in these segments through increased cross-selling. It also reviews the bank's diversified funding sources, strong capital and asset-liability management, improving credit quality, and majority ownership by Arab Banking Corporation.
This document is the annual report and financial statements for Dangote Flour Mills PLC for the year ended 31 December 2016. It provides an overview of the company's financial performance, including a 120.2% increase in turnover to N105.7 billion and a turnaround to a profit after tax of N10.6 billion compared to a loss of N12.7 billion in the prior year. It also summarizes the performance of the company's flour, pasta and noodles divisions. The chairman notes that while performance improved significantly, accumulated losses prevent the declaration of a dividend. The outlook for 2017 is also discussed.
- 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.
- Varun Beverages Ltd is an Indian beverage company and sole franchise of PepsiCo products in several countries.
- In 2017, the company divested its stake in a loss-making Mozambique subsidiary and increased its stake in a profitable Zambia subsidiary. It also established new production facilities in Zimbabwe and India.
- The company received rights to produce and distribute additional PepsiCo brands and acquired new territories in India through the purchase of PepsiCo's franchised territories in several states.
- Financial highlights show increased assets but decreased profits compared to the previous year. The company expects future profitability to rise through consolidation efforts and expanded product portfolio and territories.
Corporate Presentation for December 2010.
The presentation provides an overview of the company including its competitive advantages, operating and financial performance, and balance sheet. Key points include:
- The company has a national footprint and land bank that positions it to capture demand growth across all income segments.
- It has a track record of strong growth in launches, sales, revenues, and profitability in recent years.
- The balance sheet shows moderate leverage and diversified debt maturity profile.
- Gafisa reported financial results for the fourth quarter and full year of 2010 with increases in key metrics compared to previous periods
- Launch volumes, net revenues, adjusted gross profit, adjusted EBITDA, and net profit all increased between 3-154% from the fourth quarter of 2009
- For the full year 2010, launch volumes, net revenues, adjusted gross profit, adjusted EBITDA, and net profit increased between 23-309% compared to 2009
- Inventory levels increased 11% from the third quarter of 2010 to R$3.3 billion at the end of 2010 due to launches outpacing sales during the period.
Itaú corretora meeting with buy-side analysts on modeling the industry - ap...Gafisa RI !
The document outlines assumptions and a workflow for modeling the financial projections of Brazilian homebuilder Gafisa. It includes assumptions for projecting launches, sales, construction pace, receivables, expenses, debt, and working capital. The modeling considers factors like segment growth rates, price inflation, sales speed, cost of goods sold, and taxes. Example calculations are provided for results recognition and the impact of project financing versus equity funding on nominal and NPV project results. The overall aim is to estimate financial metrics like revenues, expenses, cash flows, and margins for Gafisa under different scenarios.
Presentation on corporate integration of fit residencial and tendaGafisa RI !
This document discusses Tenda's acquisition of FIT. After the transaction, Tenda will have R$398 million of net cash and -34% net debt to equity. Gafisa will hold 60% of the combined company's voting shares. The implied valuation of FIT based on the transaction is R$1.335 billion, representing 41-44% of Gafisa's current market value. The transaction will combine Tenda and FIT, two Brazilian homebuilders that target the entry-level housing market.
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.
- The document provides an overview of a company's 1Q13 earnings conference call, including highlights of financial performance, operational results, and recent developments.
- Revenue declined year-over-year due to lower seasonal activity and higher sales cancellations. Operating results have not yet reflected margins due to legacy project resolutions and structural changes.
- Cash generation was positive in 1Q13, with increased launch activity and land purchases to result in neutral operating cash flow for 2013. The new Tenda business model focuses on minimizing costs and balance sheet risk while maintaining construction quality.
4Q09 and fy09 Conference Call TranscriptionGafisa RI !
This transcript summarizes a conference call between Gafisa executives and investors to discuss the company's 4Q09 results.
[1] Gafisa successfully navigated the economic downturn in 2009 and is now poised for growth with a strengthened business structure including three respected brands covering all income segments and an expanded geographic reach.
[2] In 4Q09, Gafisa achieved record quarterly launches and sales of over R$1 billion each, nearly double the prior year period. For the full year, sales slightly exceeded guidance while margins improved.
[3] Looking ahead, Gafisa expects the favorable market conditions from late 2009 to continue into 2010, guiding for launches of R$4
2023 Barclays Global Consumer Staples Conference.pdfSYYIR
The document provides forward-looking statements regarding Sysco's expectations and beliefs about its future financial performance and growth opportunities. It notes several risks and uncertainties that could cause actual results to differ from expectations. The document also provides an overview of Sysco's fiscal year 2023 financial results, including record sales of $76.3 billion and adjusted earnings per share of $4.01. Sysco reiterates its fiscal year 2024 guidance of net sales growth in the mid-single digits percent range and adjusted EPS growth between 5-10%.
Sysco reported first quarter 2017 earnings results. Key highlights included sales growth of 1.0% excluding Brakes and 11.2% including Brakes. Gross profit grew 5.0% excluding Brakes and 20.3% including Brakes. Operating income grew 15.3% excluding Brakes and 23.8% including Brakes. The acquisition of Brakes Group was accretive to earnings per share and Sysco expects Brakes to be high-single-digit accretive for fiscal year 2017. Sysco also discussed continued focus on key initiatives to drive growth and manage expenses.
This document provides a summary of Principal Financial Group's fourth quarter 2015 earnings call. It discusses Principal's use of non-GAAP financial measures to evaluate performance alongside GAAP measures. The document also highlights themes from the earnings call, including strong investment performance, work on the Department of Labor regulation, and segment results for Retirement and Income Solutions and Principal Global Investors. Forward-looking statements are presented along with risks that may affect future performance.
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.
Principal Financial Group reported strong second quarter 2014 earnings. Some key points:
- Record total company operating earnings were up 19% over second quarter 2013.
- Approximately 90% of investment options are in the top half of Morningstar rankings over 3 and 5 years.
- Assets under management surpassed $518 billion, a record high.
- International operations grew operating earnings by 13% on a normalized local currency basis.
- The company continued strong capital deployment including a 31% increased dividend and $61 million in share repurchases in the quarter.
SoFi reported strong financial results for Q2 2023, with record adjusted net revenue of $489 million, up 37% year-over-year, and record adjusted EBITDA of $77 million, at a 16% margin. SoFi added 584,000 new members and 847,000 new products in the quarter. For the second half of 2023, SoFi expects adjusted net revenue of $1.025-1.085 billion and adjusted EBITDA of $180-190 million. For the full year 2023, SoFi expects adjusted net revenue of $1.974-2.034 billion and adjusted EBITDA of $333-343 million, with positive GAAP net income expected
Sysco provides forward-looking statements and discusses risks and uncertainties that could impact financial performance. It outlines its agenda which includes a business and strategic overview and recent performance. The document contains financial information for the third quarter year-to-date of fiscal year 2016 compared to the prior year period. It also provides adjustments to operating expenses, operating income, interest expense, net earnings and diluted EPS to exclude certain items for comparative purposes.
This document provides a summary of Principal Financial Group's second quarter 2013 earnings call. It discusses the use of non-GAAP financial measures to evaluate performance alongside GAAP measures. The company uses non-GAAP measures to illustrate normal ongoing operations, but also provides reconciliations to GAAP measures. It notes strong investment performance across many of its mutual funds and separate accounts. The document also summarizes key points regarding the company's accumulation and guaranteed retirement businesses, noting growth in net revenue and operating earnings for both segments compared to the prior year.
Expanding credit lines article 1
For recovering companies, additional financing for working capital increases would be necessary, but increasingly difficult to come by at reasonable interest rates. During the recession, bank loan commitments were reduced, while mounting losses were financed by utilizing availability under the working capital line of credit. As the economy recovered, liquidity was much tighter while availability was lower. Companies did benefit from the fact that the recovery was slow and, therefore, rapid working capital requirements often associated with growth did not materialize. Ultimately, the recovery has led to companies needing expansion capital but finding it hard to come by. Many companies facing this exact situation have turned to MorrisAnderson to discuss ways to improve liquidity and availability for credit. The squeeze on expansion financing was particularly difficult for companies that had recently experienced poor results and earnings, but had turned the corner and were trying to expand. The issue for lenders, of course, is that, in order to accurately approve a company for expansion financing, they needed to gain a holistic look at the company's past performance and projections for future growth to understand both the benefits and risks involved in expanding credit lines. Starting in 2008 or 2009, financial institutions began consolidating and being much more stringent and selective in the expansion financing process - doing so because the demand for capital was plentiful, regulation was heightened, while the credit risk was increased. As a result, many lenders needed to determine - particularly with accuracy -whether a potential borrower was economically stable enough to have its lines of credit increased. Lenders have frequently turned to turnaround restructuring firms to help with distressed clients (from The Secured Lender's October 2009 issue, "Restructuring and workout consul
THE SECURED LENDER OCTOBER 2013 29
tants are still finding their hands full as lenders pull them in to help with troubled clients") but also for independent assessments on the ins and outs of a company's expansion plans and provide guidance on financing options.
Considerations for Expansion Financing: A Checklist It's essential to regularly assess a company's issues, opportunities and overall viability. When assessing expansion financing and lending options, consider the following checklist: > What are the company's specific expansion plans and projected timeline? I What are the financial projections? > What is the projected cash flow? I What are the capital expenditures and projected timing on return on investment? > When does the company expect to realize profitability? > Does the company have a solid base from which to expand? I Will the company be able to maintain a high level of quality products/services? t What resources are being dedicated to product and process improvement? > Will management be able to maintain control duri.
Sysco reported fourth quarter and full year 2016 earnings results. For the fourth quarter, sales increased 10% to $13.6 billion while gross profit rose 12.7%. Operating expenses grew 9.6% and operating income increased 23.4%. For the full year, sales grew 3.5% to $50.4 billion, gross profit increased 5.7%, and operating income rose 12.1% while net earnings grew 10.4%. Sysco's results were driven by accelerating local case growth, enhanced processes to support customer success, and solid expense management.
Sysco at 2016 Barclays Global Consumer Staples Conference Sysco_Investors
Sysco provided an overview of its business and recent performance. Key points include:
- For fiscal year 2016, Sysco reported adjusted sales growth of 3.5% and adjusted earnings per share growth of 14.1%.
- Momentum continued into the fourth quarter with local case growth and gross margin expansion.
- The acquisition of Brakes enhances Sysco's product portfolio and geographic reach in Europe.
- For fiscal year 2017, Sysco aims to further grow gross profit through customer-focused solutions and insights while keeping supply chain costs flat.
- Executive compensation changes will result in a one-time $15 million expense shift from the second quarter to the first quarter of fiscal 2017.
Sysco reported strong fiscal Q1 2024 results with adjusted operating income growth of 11.7% year-over-year to $1.0 billion. Revenue increased 2.6% to $19.6 billion driven by US foodservice sales growth of 0.9% and international sales growth of 12.2%. Adjusted gross profit grew 4.6% and adjusted gross margin expanded 36 basis points. Sysco continues investing in its Recipe for Growth strategy through initiatives focused on digital, products and solutions, supply chain, and customer teams. The company expects to return approximately $1.75 billion to shareholders in fiscal 2024 through dividends and share repurchases while maintaining a strong balance sheet.
The document is a summary of Valeant Pharmaceuticals' third quarter 2013 financial results conference call. It reports strong revenue and earnings growth in Q3 2013 driven by acquisitions. However, currency impacts, Bausch + Lomb pre-close costs, and an earlier generic launch reduced results slightly below previous guidance. New full-year 2013 guidance is provided for revenues of $5.7-5.9 billion and adjusted cash EPS of $6.11-6.16.
Principal Financial Group reported strong financial results for the fourth quarter of 2014 and full year. Operating earnings per share increased 14% year-over-year for the quarter and normalized earnings per share grew 11%. For the full year, normalized EPS increased 15%. Business segments such as Retirement and Investor Services, Principal Global Investors, and Principal International experienced revenue growth and margin expansion over the trailing twelve months. Capital deployment in 2014 totaled $855 million, more than 75% of net income, and similar levels of capital return are expected in 2015.
Principal Financial Group reported strong financial results for the first quarter of 2014, with record total company operating earnings and assets under management. Several business segments saw improved performance, including Retirement and Investor Services which saw growth in net revenue and margins. Principal Global Investors also had solid results with record assets under management. Principal International reported record operating earnings despite some macroeconomic headwinds. The company deployed capital through dividends, share repurchases, and debt redemption and expects full-year capital deployment to be at the high end of its $500-700 million target range.
This document provides a summary of Principal Financial Group's fourth quarter 2016 earnings call. It discusses strong financial results including record quarterly and annual after-tax operating earnings. Several business segments saw growth in assets under management, net cash flows, sales, and pre-tax operating earnings. The company also deployed capital through dividends, share repurchases, and debt restructuring to enhance financial flexibility and shareholder value. Non-GAAP reconciliations are provided in an appendix.
- Ameriprise Financial held a second quarter 2006 earnings call to discuss financial results and progress on strategic objectives.
- Key highlights included adjusted revenues growing 13% and adjusted earnings growing 22%, above long-term targets. Adjusted return on equity improved but was below the 12-15% target.
- The company executed several strategic initiatives including growing the mass affluent client base, maintaining a focus on financial planning, improving advisor productivity, developing new products, and ensuring an efficient operating platform.
- Financially, the quarter saw strong operating performance with adjusted earnings of $195 million, up 22% year-over-year. The company continued optimizing its capital structure and returning capital to shareholders
- The document provides an overview of a company's 1Q13 earnings conference call, including highlights of financial performance, operational results, and recent developments.
- Revenue declined year-over-year due to lower seasonal activity and higher sales cancellations. Operating results have not yet reflected margins due to legacy project resolutions and structural changes.
- Cash generation was positive in 1Q13, with increased launch activity and land purchases to result in neutral operating cash flow for 2013. The new Tenda business model focuses on minimizing costs and balance sheet risk while maintaining construction quality.
Camil is one of the largest food companies in Latin America with leadership positions across multiple categories in Brazil and other countries. It has a wide distribution network with over 400,000 points of sale and well-known brands like Camil rice. Camil has a solid business model with stable margins and opportunities for growth through acquisitions to expand its product portfolio and geographic footprint. The company is led by a management team with a strong ESG agenda that has delivered consistent performance over many years.
Similar to Apresentação gafisa ir citibank_final (20)
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
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.
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%.
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.
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.
Alphaville presented its corporate presentation which included:
1) An overview of Alphaville's history, products, national presence and key highlights including its strong brand, experience, and national partnerships.
2) Details on Alphaville's unique business model which relies on partnerships, efficient construction processes, and a proprietary sales process to ensure high sales velocity and profitability with low cash exposure.
3) Financial highlights demonstrating Alphaville's consistent growth and profitability with high margins, returns, and solid increases in launches, sales, and profits over recent years.
O documento apresenta os resultados financeiros do primeiro trimestre de 2013 da empresa. As vendas líquidas contratadas totalizaram R$218 milhões, em linha com o primeiro trimestre tradicionalmente mais fraco. A velocidade de vendas consolidada foi de 5,9%, impactada por maior volume de distratos. A empresa relançou operações da Tenda com novo modelo de negócios visando redução de riscos.
O documento apresenta os resultados financeiros do primeiro trimestre de 2013 da empresa. As margens operacionais ainda não retornaram aos níveis normais devido a projetos antigos com margens menores que serão entregues em 2013. A Tenda retomou lançamentos após reestruturação e agora prioriza projetos de menor risco e giro mais rápido. As vendas consolidadas atingiram R$481 milhões no trimestre, com velocidade de vendas de 5,9%.
O documento apresenta os resultados financeiros do primeiro trimestre de 2013 da empresa. As margens operacionais ainda não retornaram aos níveis normais devido a projetos antigos com margens menores que serão entregues em 2013. A Tenda retomou lançamentos após reestruturação e agora prioriza projetos de menor risco e giro mais rápido. As vendas consolidadas atingiram R$481 milhões no trimestre, com velocidade de vendas de 5,9%.
1) A Gafisa reportou resultados positivos no 4T12 e 2012, superando metas de lançamentos, vendas e geração de caixa.
2) A estratégia de turnaround focou na geração de caixa, redução de dívida e reestruturação da empresa por marca.
3) A empresa espera um maior equilíbrio entre investimentos e desalavancagem em 2013, com resultados mais visíveis a partir de 2014.
Este documento apresenta a estrutura organizacional e os principais executivos da Alphaville Urbanismo, descreve seu portfólio de produtos, incluindo núcleos urbanos e bairros planejados, e destaca suas principais características como liderança no mercado de desenvolvimento urbano no Brasil e forte reconhecimento de marca.
Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
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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. 305 327
664
1.204
1.740
3.022
3.401
2.940
3.953
3.618
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E
Business Focus in Core Market Regions
Gafisa: Evolution
2005:
Equity International
Acquires 36%
of Gafisa
2004:
GP Investimentos
acquires control
of Gafisa
2009:
Acquistion of the remaining 40% of Tenda;
Tenda R$600 mm in FI-FGTS debentures (May/09)
R$600 mm in FI-FGTS debentures (Dec/09)
Net Revenues (R$ MM)
2007: ADR issuance
First follow-on:
R$488 mm of
primary proceeds
2011: YE
Implementation of New
Strategic Plan
2006:
Company IPO (R$494 mm
of primary proceeds;
2010:
New Follow-On: R$ 1 billion;
Increase in AlphaVille stake
from 60% to 80%
2008:
Acquisition of a
60% stake of Tenda
3
*Market consensus estimate
2012: Deleveraging and
cash generation
stragegy, including
business focus in core
market regions
2008-
2011
2012-
Nationwide Real Estate Developer Regional Player
› High Growth Rates
› Organic Growth Strategy (partners new markets)
› Growth via Acquisition Strategy
› New Management Structure -
heads responsible for the P&L
› Regional Focus
IPO
2006:
Acquisition of a
60% stake of AlphaVille
Pre-IPO
*
2013: Focus on High
Return Opportunities
4. Gafisa Completed the 1st Cycle of the Turnaround Strategy in 2012
Updated Status of the Turnaround
Throughout 2012, we have positioned ourselves conservatively, prioritizing cash flow and net debt
reduction, restructuring our debt profile and reducing launches.
Established a new operating structure organized by brand (Gafisa, Alphaville e Tenda)
Continued focus of the Gafisa brand on its core markets, São Paulo and Rio de Janeiro
Temporarily scaling back of our Tenda business, until complete control over the financial and operational cycle
Increased participation of the most profitable projects in the Group’s product mix and prioritized capital allocation to
the business unit
With these actions, we are clearly seeing a turnaround in the Company’s recent history.
Given the focus for cash generation in 2012, Gafisa enters 2013 with a comfortable liquidity position,
having restructured debt and diversified funding sources and cash facilities.
The Company resumed launches in the low income business, while maintaining stable launch activity
at Gafisa and preparing the core business for the near term, which necessarily includes new landbank
for future launches, and expanding Alphaville’s growth.
The execution of our projects are evolving according with our plan and the expected results of this
process will be more apparent in 2014, when we believe we will have in large part aligned operations
with the strategy we laid out at the beginning of 2012.
20122013
4
5. Financial and Investment Discipline
Gafisa Well Defined Strategy
Focus on Profitable
Opportunities
Achieve and Maintain an
Adequate level of
Leverage ratio
Business Focus in Core Market Regions
Gafisa's Strategy
Establish itself as the leader in residential
development company in Brazil in terms
profitability and product quality
5
6. The cash proceeds will reduce leverage and remove financial constraints, thereby enabling
greater focus on operational performance
Recent Events - Gafisa SA Enters Into an Agreement to Sell 70%
Stake in alphaville to Blackstone and Pátria
Gafisa S.A. today announced it has signed an agreement to sell a majority stake in
Alphaville, valuing AUSA at R$2.01 billion, to private equity firms Blackstone and Pátria.
The sale transaction will allow Gafisa to retain 30% of the company and generate expected gross
cash proceeds of R$1.4 billion, that will strengthen Gafisa’s balance sheet by reducing leverage
and generate long-term shareholder value
Furthermore, the transaction will allow our shareholders, through the 30% stake in Alphaville, to
participate in the long-term value creation we believe will be produced by partnering with two
leading investment firms with global and local experience in the real estate sector
Blackstone and Pátria Investimentos will maintain the existing Alphaville management team, led
by Marcelo Willer, which has driven industry-leading growth and returns at the brand
Following the transaction, Alphaville will remain an affiliate to Gafisa and the Company will
continue to play a significant role in Alphaville, with representatives serving as directors on the
board with two out of six seats
Terms of the shareholder agreement include clauses covering the following issues: vetoes in
investment documents; limitations on liability and tag along for Shareholders Agreement
Completion of the sale to Blackstone and Pátria Investimentos is subject to closing conditions
customary for a transaction of this nature, including required anti-trust approvals, and is expected
to occur in the second half of the year
Gafisa also agreed to complete the purchase of the outstanding 20% stake in Alphaville
which it did not already own, finalizing the arbitration process for a total consideration of
R$367 million.
6
7. 62%
50% 45% 44%
9%
38%
50% 55% 56%
91%
Until Mar/14 Until Mar/15 Until Mar/16 Until Mar/17 After Mar/17
Corporte Debt Project Finance
3.929
1.190
216
585
791
1.147
Total
Investors Obligations
Working Capital
SFH / Project Finance
Debentures Working Capital
Debentures FGTS
3.929
2.485
1.570
1.444
915
Total debt Cash Net debt Net
Proceeds
(sale
transaction
+ purchase
20% stake)
Post
transaction
Net Debt
Debt Composition (R$ mm) and RatesLeverage 1Q13 vs Pro-forma Post Transaction
Note: Unaudited pro-forma preliminary estimated results
1 Does not include obligations related to securitization of R$XXX mm
2 Post offering on pro forma basis on 1Q13.
Debt Maturity Schedule as % of Total Debt
Net Debt /
Shareholders’ Equity
0.95x
9.5% - 10.1% (TR)
1.5% - 1.9% (CDI)
8.3% - 11,5% (TR)
0.2% - 1.0% (CDI)
9.3%
Flexible Post-Transaction Balance Sheet
0.53x
1.3% - 3,0% (CDI)
1.179 1.252 920 341 237
R$
R$
Gafisa’s net debt to equity would decrease from the 94% reported at the end of the first quarter of
2013 to approximately 53%, based on unaudited pro-forma data for the same period.
7
9. Relaunch of Tenda under New Business Model
Tenda’s operations will continue to expand in line with high
growth potential in the brand’s core markets of São Paulo,
Rio de Janeiro, Bahia and Minas Gerais.
The brand was relaunched in the 1Q13 under a new
business model
Launches totaled R$114mn in 1Q13
During 1Q13, Tenda transferred around 2,451 units to
financial institutions
Pre-sales reached R$6.8 million (gross pre-sales of R$239
million and R$232 million in sales cancellation)
Units are being sold only to customers that have access to a
mortgage and can be immediately transferred to financial
institutions
40% of the 1,473 units cancelled during 1Q13 were resold
during the period
All projects qualified for financing under the MCMV or SFH
programs
During 1Q13, 1300 units were contracted for financing under
the MCMV program
Customers Transferred (# of units) vs, % MCMV
Run Off – Tenda
1.898
2.515
2.381
2.865
1.892
3.066
3.168
2.863
2.796
3.620
3.151
3433
2.451
81%
89%
85%
95%
67%
83%
95% 92% 92% 89%
95% 92%92%
Transferred units to CEF MCMV (%)
The resumption of operations, following restructuring of operational and financial cycle in
2012, which is proceeding in a cautious manner, is expected to maximize the segment’s
potential within the Group.
0
5
10
15
20
25
30
SP
RJ
NE
MG
84 23
Construction sites
9
10. Purchase of
Land and
Development
Launch of the
Sales Phase of
the Project
Completion of
the Project
Delivery
Phase 1
Purchases a parcel of land (on
which it can build a number of
homes) or subdivides the land
into lots to build multiple
projects that will be launched
in phases.
Tenda targets areas where
customers make 3-6 times the
monthly minimum wage (2nd
range of the housing program
MCMV - My House, My Life).
Participants in the land
development stage are:
financial institutions (projects
need to be approved and
contracted before the 2nd
phase), municipal planning and
zoning departments, elected
officials and community
interest groups.
Phase 2
Tenda’s marketing campaigns are
conducted internally, eliminating
the need for a sales stand.
Sales are conducted by an
internal force.
The remuneration of the internal
sales team is based on the
“repasse” (transfer of units to
financial institutions).
As a result of the tighter credit
policy and the new sales process,
sales velocity has no peaks during
the launch phase, but on the
other hand, sales expenses are
lower, and sales are steady. The
model is made to have between
7-10% SoS per month, each and
every month, until the project is
sold out at least in 15 months.
Phase 4
• Collections for sold units
are in accordance with the
payment plan provided by
financial institutions
under the “associativo”
MCMV program).
• Tenda receives 100% of
the value of the unit
during the construction
phase, eliminating the risk
of delinquency on its
balance sheet.
Phase 3
• Aluminum molds are used in
construction to ensure a high quality
and cost efficiency.
• Shorter cycle given the use of
aluminum mold results in improved
visibility of cost trends.
• The overall process (from authorization
- to delivery), is planned to take
approximately 2 years.
• The loan starts out as a construction
loan based on a subsidized line of
credit and rolls over into a permanent
mortgage to the final buyer.
• The assurance of financing, which
allows the builder to focus on
execution and better schedule
construction workflow.
1 2 3 4
6 months 2 years
Tenda’s New Business Model Workflow
10
11. Launches (2012A) R$1.61bn R$0mn R$1.34bn
% of Launches (2012A) 54% 0% 46%
Launches (2013E) R$1.15-1.35bn R$250-450mn R$1.3-1.5bn
% of Launches (2013E)1 42% 12% 47%
Contracted Sales (2012A) R$1.60bn - R$74mn R$1.11bn
% of Contracted Sales (2012A) 61% -3% 42%
Net Revenues (2012A) R$2.18bn R$1.12bn R$809mn
% of Revenues (2012A) 51% 28% 20%
Gross Margin (2012A) 22% 13% 52%
EBITDA Margin (2012A) 12% -4% 34%
Note 1: Launches for 2013 are expected to be between R$2.7 and R$3.3 billion, reflecting a new, more targeted regional focus. Gafisa should represent 42%, Tenda 12%
and Alphaville 47% of the average point of launches estimated for 2013. For the first quarter of 2013, the Gafisa Group launched R$308 million.
Majority of legacy projects with lower Margins, to be delivered in 2013
Consolidated Margins Have Not Yet Returned to
Normalized Levels
11
12. Launches (1Q13A) R$82mn R$114mn R$111mn
% of Launches (1Q13A) 27% 37% 36%
Launches (2013E) R$1.15-1.35bn R$250-450mn R$1.3-1.5bn
% of Launches (2013E)1 42% 12% 47%
Contracted Sales (1Q13A) R$101mn R$6.8mn R$110mn
% of Contracted Sales (1Q13A) 46% 3% 51%
Net Revenues (1Q13A) R$367mn R$140mn R$161mn
% of Revenues (1Q13A) 55% 21% 24%
Gross Margin % (1Q13A) 24% -7% 50%
EBITDA Margin % (1Q13A) 12% -18% 30%
Note 1: Launches for 2013 are expected to be between R$2.7 and R$3.3 billion, reflecting a new, more targeted regional focus. Gafisa should represent 42%, Tenda 12%
and Alphaville 47% of the average point of launches estimated for 2013. For the first quarter of 2013, the Gafisa Group launched R$308 million.
Majority of legacy projects with lower Margins, to be delivered in 2013
Consolidated Margins Have Not Yet Returned to
Normalized Levels
12
13. Gafisa (A) Tenda (B) Alphaville (C) (A) + (B) + (C) (A) + (C)
Revenues to be recognized 1,951,419 361,914 996,580 3,309,913 2,947,999
Costs to be incurred (units sold) (1,273,873) (275,766) (470,771) (2,020,410) (1,744,644)
Results to be Recognized 677,546 86,148 525,809 1,289,503 1,203,355
Backlog Margin 35% 24% 53% 39% 41%
Gafisa Group Consolidated Results to Be Recognized (REF) (R$ million)
1Q13 4Q12 Q/Q(%) 1Q12 Y/Y(%)
Results to be recognized 3,309,913 3,676,320 -10% 3,616,289 -8%
Costs to be incurred (units sold) (2,020,410) (2,226,575) -9% (2,338,561) -14%
Results to be Recognized 1,289,503 1,449,745 -11% 1,277,728 1%
Backlog Margin 39% 39% -48 bps 35% 363 bps
Backlog of Results
Results to Be Recognized (REF) by Segment (R$ million) 1Q13
• The consolidated margin for the quarter rose to 39% from 35% in 1Q12, due to contribution
of new projects, lower participation of Tenda’s legacy projects and increased stake of
Alphaville’s projects in the Group’s product mix
13
14. Receivables + Inventory vs Construction Obligations
Receivables
Inventory at market
value
Total
Construction
obligations
Gafisa (A) 3.678.097 1.921.120 5.599.217 1.753.981
Alphaville (B) 1.746.194 808.927 2.555.121 698.304
Tenda (C) 1.243.188 772.992 2.016.180 463.716
Total (A) + (B) + (C) 6.667.479 3.503.039 10.170.518 2.916.003
R$ million
(R$000) Consolidated 1Q13 4Q12 Q-o-Q (%) 1Q12 Y-o-Y (%)
Receivables from developments – LT (off BS) 3.435.302 3.815.589 -10% 3.753.284 -8%
Receivables from PoC – ST (on balance sheet) 2.492.119 2.493.170 0% 3.002.163 -17%
Receivables from PoC – LT (on balance sheet) 740.058 820.774 -10% 1.024.027 -28%
Total Gafisa Group 6.667.479 7.129.533 -6% 7.779.474 -14%
Receivables
14
15. Launches, Sales, Cancellations and SoS
Inventories
BoP1
Launches Dissolution Pre-Sales
Price
Adjust +
Other5
Inventories
EoP2
% Q-o-Q3 VSO4
Gafisa (A) 1,983,694 83,029 191,572 (292,688) (44,486) 1,921,120 -3.2% 5.0%
Alphaville (B) 812,174 110,828 57,420 (167,799) (3,696) 808,927 -0.4% 12.0%
Total (A)+(B) 2,795,867 193,857 248,992 (460,487) (48,182) 2,730,047 -2.4% 7.2%
Tenda (C) 826,671 113,696 232,517 (239,302) (16,589) 772,992 -6.5% 0.9%
Total (A)+(B)+(C) 3,622,538 307,553 481,508 (699,789) (208,771) 3,503,039 -3.3% 5.9%
Note: 1) BoP beginning of the period – 4Q12. 2) EP end of the period – 1Q13. 3) % Change 1Q13 versus 4Q12.
4) 1Q13 sales velocity. 5) Projects cancelled during the period.
INVENTORYAT
MARKETVALUE
1SALESOVER
SUPPLYSoS(%)
SALESOVER
LAUNCHES(%)
23
5%
20%
14%
1Q13 4Q12 1Q12
Gafisa
14%
48%
31%
1Q13 4Q12 1Q12
Gafisa
12%
35%
22%
1Q13 4Q12 1Q12
Alphaville
46%
73%
63%
1Q13 4Q12 1Q12
Alphaville
7%
25%
16%
1Q13 4Q12 1Q12
Gafisa Group
Ex-Tenda
67%
45%
53%
1Q12 4Q12 1Q13
Gafisa Group
Ex-Tenda
-1%
-4%
-
31%
1Q13 4Q12 1Q12
Tenda
14%
0%
47%
1Q13 4Q12 4Q11
Tenda
6%
20%
10%
1Q13 4Q12 1Q12
Gafisa Group
32%
67%
48%
1Q13 4Q12 1Q12
Gafisa Group
15
18. Appendix
Size (m²) 60-350 45-60 250-1500
# units 50-300 500 100-400
Average price >R$500.000 R$120.000 R$200.000
Typical project margins 37% 28% 44%
Cash exposure / Total Sales 30-35% 10% 10-15%
Mortgage Provider Commercial Banks and
CEF
100% CEF (directly to
the final buyer)
AlphaVille
Note 1: Launches for 2013 are expected to be between R$2.7 and R$3.3 billion, reflecting a new, more targeted regional focus. Gafisa should represent 42%, Tenda 12%
and Alphaville 47% of the average point of launches estimated for 2013. For the first quarter of 2013, the Gafisa Group launched R$308 million.
18