THIS PRESENTATION IS MADE FOR YOU IF YOUR COMPANY FACES ONE OF THESE TWO SCENARIOS:
“WE SUCCESSFULLY STARTED SELLING IN BRAZIL,
BUTTHENUMBERS ARE DISAPPOINTING.WE´VE BEEN
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”WE KNOW THAT EXPANDING TO NEW MARKETS IS THE NEXT BIG
THING. BUT TO BE HONEST IT SEEMS TOO RISKY. WE DON´T KNOW
ENOUGH ABOUT DOING BUSINESS IN BRAZIL.”
Managing Corporate Reputation a must have or a nice to have_EACD_Pedro CarneiroDianova
VI Regional EACD Lisbon Debate held 16th november 2010 over the theme "Reputation Management: from Internal Communication to Change Management", sponsored by Galp Energia. Attended by 47 top communication professionals. Presentation by Pedro Carneiro, Managing Partner at Reputation Institute Portugal.
VI Regional EACD Lisbon Debate over the topic "Reputation Management: from Internal Communications to Change Management" 16th november 2010, presentation by Pedro Carneiro, Reputation Institute
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
2. Disclaimer
This presentation does not constitute an offer, or invitation, or solicitation of an offer to subscribe for or purchase
any securities neither does this presentation nor anything contained herein form the basis to any contract or
commitment whatsoever.
The material that follows contains general business information about LPS Brasil – Consultoria de Imóveis S.A
(“LPS”) as of June 30th, 2013. It is not intended to be relied upon as advice to potential investors. The information
does not purport to be complete and is in summary form. No reliance should be placed on the accuracy,
fairness, or completeness of the information presented herein and no representation or warranty, express or
implied, is made concerning the accuracy, fairness, or completeness of the information presented herein.
This presentation contains statements that are forward-looking and are only predictions, not guarantees of
future performance. Investors are warned that these forward-looking statements are and will be subject to
many risks, uncertainties, and factors related to the operations and business environments of LPS and its
subsidiaries such as competitive pressures, the performance of the Brazilian economy and the industry, changes
on market conditions, among other factors disclosed in LPS filed disclosure documents. Such risks may cause the
actual results of the companies to be materially different from any future results expressed or implied in such
forward-looking statements.
LPS believes that based on information currently available to LPS management, the expectations and
assumptions reflected in the forward-looking statements are reasonable. Lastly, LPS expressly refuses any duty to
update any of the forward-looking statements contained herein.
2
4. Awards and recognitions | Recently
“The hearts of 96% of people
beat stronger for Lopes”
Top of Mind IBOPE
In research conducted in São Paulo, IBOPE Intelligence, revealed that1:
• 9 out of 10 residents of the city know the brand Lopes
• 96% would consider the brand when buying
• 67% had any contact with the company, and among these, 76% would recommend Lopes
The 200 best Brazilian companies | 2012 Época Negócios 360º Guide2
Evaluation of 6 scopes:
•
Financial results
•
HR Practices
•
Governance
•
Environmental
•
Process of innovation
•
Ranking:
Future vision
50º: Lopes
68º: Homebuilder
85º: Homebuilder
96º: Homebuilder
104º: Shopping Mall
117º: Homebuilder
1) Survey conducted between Jul 26, 2012 and Aug 08, 2012.
2) October, 2012 issue. Preparation: Fundação Dom Cabral.
4
5. Awards and recognitions| 2012
Top Imobiliário Award
Considered the main award of the real estate industry in Brazil
Lopes has been winning every Top Imobiliário since its first edition in 1993
Master Imobiliário Award
Award organized by Sindicato da Habitação de São Paulo (Secovi-SP) and Federação Internacional
das Profissões Imobiliárias, suported by Grupo Estado
Lopes was awarded in the segment “Institucional” by 2011 Annual Report of the Brazilian Real Estate
Market
Ranking Valor 1000
Listed by Valor Econômico as one of the 1000 largest business groups in Brazil
Highlighted as the 20th higher net margin among all groups
8th place in value generation among service companies
IG/ Insper Award
Assertive M&A strategy, expanding the business to other regions of the country
Lopes was considered the largest company in real estate brokerage and consulting in Brazil, in the last
five years
VII Award Relatório Bancário
CrediPronto! was awarded in the segment “Best Online File Management”
Highlight for the efficiency in the mortgage approval
5
6. The Brokerage Market Has No Other Company With Our History
and Track Record
Mr. Francisco Lopes
initiates his brokering
activities
First TV
advertisement for
a real estate
development
1935
40´s
50´s
The company’s first
logo
Launches one of
the first buildings
under the
condominium
concept
Launch and sale of 14
office buildings at Av.
Paulista
Launch and sale of 11
office buildings at the Faria
Lima region
Creation of the launching
system with sales stands
and marketing materials,
attracting customers,
specially during weekends
Becomes a reference in
real estate launches and
presents its new logo
60´s
Start of long term
partnership with
Gomes de Almeida
Fernandez (Gafisa)
70´s
Introduction of the
concept of condominium
clubs
First “Top Imobiliário”
award, in 1993 – Largest
Brokerage Company
80´s
90´s
Identifies Marginal
Pinheiros as an attractive
area and launches one of
the first buildings in the
region
Starts up sales of hotel
condominium (Flats)
Partner of Grupo Espírito
Santo in the sale of one of
the largest launches in
Lisboa: Parque dos
Príncipes
More than 300 clients in the
primary market (homebuilders)
divided between listed and nonlisted companies
5 acquisitions in the primary
market and 13 acquisitions in the
secondary market
The secondary market has
become responsible for 25% of
total sales
Breakeven point of LPS Brasil’s
stake in Credipronto! in 4Q12
Credipronto! has reached
R$ 3.1 billion in average portfolio
balance in June 2013
Lopes’ follow-on
00´s
2010s
Lopes becomes an important player at the
segment of gated communities
7 acquisitions in the primary market
Triples in size in a decade, strengthening its
leadership
Lopes’ IPO in 2006
Lopes starts its geographic expansion process
Lopes’ website become leader on real state
market
Joint Venture with Banco Itaú in order to
create CrediPronto!, our mortgage company
6
7. LPS Brasil
Investment Highlights
CrediPronto!,
Mortgage company,
with highest growth in
mortgage industry.
Asset Light with low
execution risk
Top management
team in industry
Unique position
in primary
market
Unique
opportunity
to consolidate
the secondary
market
7
8. LPS Brasil: Unique Business Platform
Primary Market
Secondary Market
Mortgage Loan
+
Low, mid and high-income segments
Focus on secondary market, with a
unique model of own stores and a
network of licensed brokers
Growth through acquisitions
Joint Venture with Banco Itaú to
provide mortgage loans
Top vehicle to Invest in Brazilian Real Estate Market.
8
9. Management Team
Top Management Team in Industry
Partners & Associates
Partnership Program:
Summing up over 300
Years of Real Estate
Experience
Over 30 Partners & Associates with stock Investment
and long term alignment with company
Retention / Incentive tool for Top Performing
Employees
9
10. Asset Light
Service Based Business Model
Brokerage
Business
Primary
Market
Mortgage
Business
Secondary
Market
Immediate simple revenue
recognition
Asset light
Yearly Investment = Depreciation
Easy short term adjustment in
G&A, in case of a market
downturn.
Asset light
Inexistence of physical offices
(operates inside brokerage
stores)
Mortgage portfolio generates
recurring cashflow.
10
11. Virtuous Cycle of the Business Model Creating Strong Barriers to Entry
Solid Sales Performance
Total transactions closed of R$ 5.4 billion in
2Q13 and R$ 9.7 billion in 1H13, up 9% from
2Q12 and 1H12.
Leader in the primary market
CrediPronto! originated R$ 530 million in
2Q13 and R$ 4.5 billion since its creation in
2008.
: unique platform to
develop the secondary market
: partnership with one
of the largest retail banks in the
world, Itaú-Unibanco
Most visited website in the real estate
sector: more than 15 million visitors in 2012.
Strong Established Base
Wide Range of Products
Leading, nationally recognized brand
Present in 10 Brazilian States and in the
Federal District
Extensive distribution channel
Database with more than 2 million clients
More than 300 homebuilder clients
One-stop-shop: unique and
complete solution for the client
High Retention of Talent
Sales force of more than 16,000
independent brokers
Attracts and maintains its sales force
11
12. Institutional Website
LEADS
www.lopes.com.br
• 10 million visitors in 2012
Organic: 48%
• iPhone and Android App. Mobile version.
• First brokerage company to launch an App for iPad
Direct: 26%
Paid: 44%
Strong investment
in online media
Source: Google Analytics,
• 185k Properties listed
• 70k on the Primary Market and 115k on the Secondary
• 35-40% exclusive sales
Largest Website
among Real Estate
Companies
Strong Lead
Generation
Higher sales
conversion
12
13. Strong database of clients
Sales
Force
More
than
2.0
million
Media
POS
Source: Lopes database - Lopesnet
• Over 2 million clients Database
Homebuilders
• Online and offline client sources
• A structured CRM for serving clients
from different backgrounds
Online
Lopes
Website
13
14. Top of Mind: Lopes has been frequently mentioned among Real Estate Subjects
Talking about
Viral Reach
Total Reach
Frequency per Unique User
• Leader in social networks
• Approximately 1,000,000 Facebook fans
• High engagement level and spontaneous mentions
14
18. Market Intelligence
Launches by Market – Brazil – 2012
79.7 billion / 183 thousand units
Total Brazil
28.5
11.1
2.0
1.9
1.5
1.3
1.1
1.0
0.7
0.3
Recife
Florianópolis
Vitória
Campinas
Manaus
Natal
Belém
Others
2.0
Goiânia
2.2
Santos
2.4
Fortaleza
2.7
Salvador
3.0
P.Alegre
3.3
DF
BH
Greater RJ
MRSP
3.9
Curitiba
10.8
Brazil still represents a case for growth in the primary market
Source: LPS Brasil Market Intelligence
18
19. Significant Creation of Demand
Demographic Bonus
Population Pyramid (millions of people)
250
200
150
56% 55% 55%
58%
60%
64%
68%
70% 69%
67%
2010
63%
60%
100
50
0
1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 2060
90+
80-84
70-74
60-64
50-54
40-44
30-34
20-24
10-14
0-4
10%
5%
0%
2060
5%
90+
80-84
70-74
60-64
50-54
40-44
30-34
20-24
10-14
0-4
10%
10%
5%
0%
5%
10%
Total Population (Million)
Economically active population = 15 – 64 years old
Number of Families by Income Segment (millions)
Social classes1 Population from 18 to 64 years old
2009
2020e
Growth 2007 - 2030
(8%)
31.7
18%
36%
78%
29.1
160%
233%
291%
27.6
21.8
64%
A, B and C classes
2007A
15.5
82%
D and E classes
3.3
R$1k to
R$2k
R$2k to
R$4k
2030E
11
8.4
Up to
R$1k
433%
R$4k to
R$8k
1.1
4.3
R$8k to
R$16k
0.3 1.6
Above
R$ 16k
The demographic bonus, combined with economic growth, will lead 35.6 million people to move up from D and E classes to A, B and C classes
over the next 10 years. These families will certainly be seeking better living conditions.
Source: IBGE, Bird, Febraban and FGV
1) Source: PNAD/IBGE Preparation: Bradesco. Take into account RO, AC, AM, AP, PA and RR regions
19
20. National footprint
Stake
(%)
Payment
(R$ million)
51%
13.82
51%
Federal District
greenfield
DF
SP
51%
142.22
Espírito Santo
MG
RJ
ES
60.52
São José dos
Campos
10.21
Rio de Janeiro
BA
15.01
51%
80%
PE
49.52
Campinas
greenfield
CE
CE
Payment
(R$ million)
100%
São Paulo
Stake
(%)
Bahia
60%
greenfield
11.32
Minas Gerais
Ceará
PR
greenfield
SC
51%
RS
60%
8.12
100%
4.12
5.51
Sul
Pernambuco
100%
41.02
51%
36.71
Lopes tracks developers’ regional movements, consolidates its position as the largest consulting and sales player
1) Considering the base scenario of the acquisition
2) Concluded Acquisitions
20
21. Sales Expertise in all Market Segments
Habitarte – May/13
Location
São Paulo/SP
Sales
HIGH
391 un. – R$ 11,486/m²
Jardim das Perdizes – Mar/13
Location
São Paulo/SP
Sales
MEDIUM-HIGH
640 un. – R$ 8,200/ m²
Fatto Reserva Vila Rio – May/13
Location
Guarulhos/SP
Sales
ECONOMIC
380 un. – R$ 4,100/m²
Porto Atlântico – Mar/13
Location
Rio de Janeiro/RJ
Sales
BUSINESS UNITS
804 un. – R$ 15,382/m²
Ibis Budget SP - Mar/13
HOTEL
Location
São Paulo/SP
Sales
163 un. – R$ 340,000
CASE
100% sold.
Developer : Yuny / Stan
CASE
76% sold.
Developer : PDG / Tecnisa
CASE
74% sold.
Developer : Plano&Plano
CASE
100% sold.
Developer: Odebrecht
CASE
100% sold.
Developer :
You
21
22. Transactions Closed – Primary Market
Transactions Closed – Primary Market
(R$ billion)
14.4
9.4
14.4
14.4
8.7
6.7
7.4
4.9
2.5
2006
2007
2008
2009
2010
2011
2012
1H12
1H13
LPS Brasil took advantage of Listed Homebuilders growth through Capital raises.
(equity + debt)
22
26. Lopes’ Confidence Index (LCI)
Lopes is the first company to create a Real Estate Consumer Confidence Index.
Lopes’ Confidence Indexes (LCI)
151
134
Expectation Index
The survey take into account
the opinion for the next 6
months about the situation of
Brazil’s economy, the financials
of household and the intention
to acquire a property
Jun-13
Apr-13
May-13
Present Situation Index
The survey take into account
the summation of the present
situation
index
and
the
expectation index
Mar-13
Jan-13
Lopes' Confidence Index
Feb-13
Dec-12
Oct-12
Nov-12
Sep-12
Jul-12
Aug-12
Jun-12
May-12
Apr-12
Feb-12
Mar-12
Jan-12
Nov-11
Dec-11
Sep-11
Oct-11
Jun-11
Aug-11
May-11
Apr-11
Mar-11
Jan-11
Feb-11
Dec-10
Nov-10
Sep-10
Oct-10
Jul-10
Aug-10
Jun-10
Apr-10
May-10
Mar-10
Jan-10
Feb-10
Nov-09
Dec-09
Sep-09
Oct-09
Aug-09
Jul-09
Jun-09
May-09
Apr-09
117
The survey take into account
the current opinion about the
situation of Brazil’s economy,
the financials of household
and the intention to acquire a
property
Lopes’ Confidence Index intend to measure clients confidence, so Lopes can follow and anticipate, in the short
term, housing purchase tendency.
The sample has 524 interviews, with Grande São Paulo resident clients, which contacted Lopes in the last 3 months
and are interested in purchasing a new home.
(basis: jan/2009 = 100)
Source: Lopes Market Intelligence
26
28. HABITCASA: Focus on Low Income Segment
Focus on Low Income Segment
Units up to R$ 300 thousand
The Habitcasa brand is applied in all Lopes’ markets
28
29. Transactions Closed by Price Segment – Primary and Secondary Markets
Transactions Closed
R$ 4.9 billion
R$ 5.4 billion
2Q12
2Q13
6%
8%
37%
31%
23%
44%
27%
24%
Number of Transactions Closed
15,072 units
12,991 units
2Q12
2Q13
9%
15%
41%
16%
24%
24%
36%
35%
29
31. Pronto!: A Natural Consolidator
Well Defined Acquisition Model with a Successful Track
Record
Unique Platform Poised for Growth
Present in 10 States and the Federal
District
– Covers 85% of the Brazilian GDP
in 2010, combined 1
– 74 own stores
– 105 licensed brokers
– Strong presence in São Paulo
and Rio de Janeiro
Solid client base
Appreciation and alignment of interests
– Earn-out
– 51% ownership stake
Successful acquisitions through the years
– 19 acquisitions since July 2010 focused on the
secondary market
– Benchmark for future partners
– Accretion
Strong internet presence
Unique one-stop-shop business model
Acquisition strategy:
– Companies with expertise in their regional markets
– Companies with limited access to capital
– Well positioned in relevant markets
– Widespread network
Diversified products in the portfolio
Natural Consolidator
1 – Source: IBGE
Potential synergies:
– Scale and reach: network effect
– Access to mortgage financing
– Expertise of LPS Brasil management
31
35. Mortgage Market
Mortgage Market as a % of GDP | Brazil 2011, others 2010
85%
63%
63%
62%
61%
60%
52%
41%
36%
23%
22%
16%
10%
Source: Abecip, Brazil Central Bank, Federal Reserve, Haver. Preparation: Goldman Sachs
5%
5%
35
36. Market Potential for Real Estate Financing
Quantitative Housing Shortage (millions of homes)
Growth Drivers
Housing deficit
7.9
– 7.2 million houses (2009)
6.7
Incipient mortgage loan market
6.3
5.4
Declining interest rates
5.8
Rising employees’ income
Growing availability of long-term funding
Increasing secondary market financing
Increasing family turnover
1991
Mortgage Loan Access (% by Social Class)2
2000
2006
2007
2008
Family Turnover3
9.0 – 10.0x
7.7%
5.0%
4.0x
3.0%
1.8x
1.7%
Classes A and B
Class C
Class D
Class E
G-7
Source: Bacen and ABECIP
Notes:
1 Data from 2006, except for Brazil (2009)
2 FGV’s Center for Social Studies, 2010
3 Represents the number of times a family moves to a different house during their lifetime. Source: Credit Suisse
Mexico
Brazil
36
37. Joint Venture Lopes-Itaú
Lopes and Itaú created the first and biggest pure mortgage company of Brazil.
Direct and exclusive access to its
customer database
Seamlessly integrated operation with
Lopes’ sales process, including an
incentive compensation plan
Lopes media exposure
Leadership position
in their respective
markets
Management
Excellence
Service excellence
Competitive financing terms and
conditions
Speed and quality of processing
Experienced credit analysis
Successful exposure to the lending
business and in joint ventures
High Value Brands
Strengthening of mortgage origination and other related services.
37
38. Differentiated Model: One-Stop-Shop
Secondary Market: a significant potential for origination
Distinctive channel for clients in the secondary market
Focus
74 own stores and 105 licensed real estate brokers in 10
States and the Federal District
Over R$ 4.5 billion in financing
Relevance
Selective acquisitions to replicate the successful formula
used in the primary market
Incipient market in Brazil with huge expansion potential
Growth
Potential
33% of Pronto!’s contracted sales are financed by
Credipronto!
Synergies
50% of CrediPronto! transactions are originated through
Pronto!
Use of LPS Brasil’s platform and significant reduction in
CAPEX requirement
Winning Model
38
39. CrediPronto!
Volume of Origination
( R$ million)
Volume of origination accumulated1
( R$ million)
4,489
530
378
178
2Q12
2Q13
Portfolio Balance
( R$ million)
jan/10
jun/13
1) Does not include amortization
3,328
2,266
The Average Portfolio Balance in
2Q13 was R$ 3.1 billion.
Ending portfolio
balance 2Q12
Ending portfolio
balance 2Q13
39
40. CrediPronto!
Ending Portfolio Balance
3,328
(R$ MM)
2,986
2,771
2,492
2,266
1,989
1,756
1,454
1,162
jun/13
mar/13
dec/12
sep/12
jun/12
mar/12
dec/11
sep/11
jun/11
mar/10
707
dec/10
sep/10
jun/10
392
517
881
The ending portfolio balance grew an average of 6.1% per month since jun/10 and it’s already
R$ 3.3 billion.
40
41. Credipronto!: Unique Partnership to Capture Mortgage Loan Market Potential
Business Highlights
Innovative Real Estate Financing Process
+
Market
Leader
Largest Private Bank
in Brazil
Credit Analysis
24 hours
Assessment of
the Property
Legal Analysis
Until 3
working
days
Issuance of the
Contract
2
working
days
3
working
days
Release of
Resources
5
working
days
Profit Sharing with limited credit risk
Leverage on LPS Brazil’s points of sale
Efficiency in Release of Credit
Differentiated process of approval and release of funds
Unprecedented credit in the market
Evolution of Origination (base 100 = Jan-10)1
5,8% 5,1% 6,1% 5,7%
1,9% 1,7% 2,4% 2,4%
168
177
245
145 147
241
Ranking of Real Estate Financing 2Q13 (R$ MM)
7,3% 6,4% 6,8% 6,9% 7,4% 7,5% 8,5% 7,9% 8,5%
10,0%
3,0% 2,8% 3,1% 2,8% 3,0% 2,4% 2,9% 2,5% 2,6%
5,0%
412
376
411
370
433 416
506
610 0,0%
438
144
179
209
198
2,694
209
243
251
245
-10,0%
Mercado
Market Share CDP!
530
-15,0%
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 -20,0%
Credipronto!
8.5% Market Share*
20% of Itaú
-5,0%
334
209
11,731
Market Share CDP!
(Private Banks)
1,489
Caixa
Itaú
2,329
1,592
1,503
Banco do Santander Bradesco
Brasil
370
147
HSBC
Banrisul
37
Citibank
25
Poupex
High Growth Potential – Real Estate Financing equals only 5% of Brazilian GDP2
1 ABECIP
2 Bacen
* Excluding Caixa
41
45. 2Q13 Financial Highlights
Net Revenue
(R$ MM)
137.4
106.6
2Q12
Net Income Attributable to Controlling
Shareholders before IFRS1
Net Margin (%)
(R$ MM)
16.8
Earnout
120.6
2Q13
EBITDA2
EBITDA Margin (%)
(R$ MM)
40.6
(30%)
-
12.8
63.1
(46%)
Non-recurring³
-
12.8
48.4
28.4
(23%)
(40%)
40%
40%28.9%
(40%)
40%
2Q12
3)
27.8
(27%)
1)
2)
Non-recurring³
2Q13
2Q12
2Q13
42.4
40% 31.3%
We consider the net income adjusted by non cash IFRS 3 effects (Business Combination) the most accurate net income indicator.
Includes results from subsidiaries and companies under shared-control, in accordance with equity accounting, and results from non-controlling shareholders.
Note: EBITDA is not an accounting measure and does not represent the cash flow for the reported periods, and therefore should not be used as an alternative
to cash flow as a measure of liquidity. The Company’s EBITDA was calculated in accordance with CVM Instruction 52.
Non recurring: Partial recognition of the 2nd installment of CrediPronto's earnout, expenses related to CrediPronto's earnout and restructuring charge
45
48. CrediPronto!
(R$ thousand)
P&L* 2012
Total
Executed contracts
1,503,028
Opening portfolio
1,767,940
Closing portfolio
2,771,051
Average portfolio balance 1
2,069,854
Financial Margin
46,655
% Spread
2.3%
(-) Sales taxes
-3,756
(-) Total costs and expenses
-58,099
(-) Backoffice Expenses
-14,193
(-) Sales Expenses
-20,383
(-) Commissions paid
-14,574
(-) Insurance and claims (+/-)
-1,091
(+) Other revenues (Financ.)
288
(-) ADA
-8,146
(-) IRPJ/CSLL (Itaú Balance)
-6,636
(=) Net result
-21,836
% Net Margin
-50.90%
50% Profit Sharing
-10,918
(+) Retention of Commissions
2,972
CrediPronto! Result (LPS)
-7,946
1 – Weighted average portfolio balance
• The numbers of the managerial P&L were audited for 2012 by Ernst&Young and, due to its managerial nature, it does not follow accounting standards.
48
50. Allowance for Doubtful Accounts
Example of P&L with a financing contract
for a $200 unit:
Month 1
Month 2
Month 5
Month 8
Financial Margin
$100
$100
$100
$100
Expenses¹
-$60
-$60
-$60
-$60
Specific Allowance
-
-$5
-$25
+$200
Result
$40
$35
$15
$240
Recovery of
Property
Default
Sale of the
recovered
property
¹ Including general allowance
Ex:
Sale for
$300
Ex:
Sale for
$150
+$100: Profit for
the bank
-$50: Loss
of the bank
50
52. Lopes’ Contracted Sales Seasonality
41%
37%
31%
25%
21%
17%
2005
32%
29%
29%
22%
18%
23%
22%
14%
2006
2007
1Q
23%
33%
28%
24%
19%
16% 15%
2008*
2Q
30%
26%
25%
2009
* The seasonality can not be verified in 2008, because of the effects of the world financial crisis.
24%
19%
2010
3Q
27% 30%
2011
27%
26%
26%
Average of Historical
Seasonality of the
fourth quarter:
30%
21%
2012
4Q
52
53. Ownership Structure
Ownership Structure | September 2013
31.7%
45.3%
0.2%
Rosediamond
22.8%
Chairman and Vice Chairman
Management
Free Float
Total of 114,381,766 common shares
53
54. Company Roadmap
Long Term Strategic Goals
Mantain Leadership in Primary Market
Achieve dominant position in Secondary Market,
Growing from 26% to 40/50% of our Sales
Grow the Mortgage Portfolio, achieving high
profitability levels
Develop other Opportunities tied to Services in
Real Estate Market.
54