Corporate Presentation for Gafisa provides an overview of the company's competitive advantages and operating performance. Key points include:
1) Gafisa has multifaceted residential products across all income segments in Brazil and a national footprint that allows it to capture demand growth.
2) The company has a proven track record of execution, delivering strong growth in launches, sales, and revenues in recent years while maintaining profitability.
3) Gafisa benefits from strong brand recognition, solid reputation, and leading market positions that support its operating results.
Corporate Presentation for January 2011.
The presentation provides an overview of Gafisa's business including its: competitive advantages through differentiated residential products across income segments; strong demand growth potential across segments; national footprint and strategically located land bank; solid track record of execution and value creation through growth, transactions, and capital markets access; strong brand recognition and reputation; operating and financial performance with sustained growth in launches, sales, revenues, profitability and results to be recognized; and solid balance sheet with manageable leverage.
Gafisa corporate presentation eng_december10Gafisa RI !
Corporate Presentation for December 2010.
1. The presentation provides an overview of Gafisa's competitive advantages including its diversified product offerings across all income segments, national footprint capturing major markets, strategically located landbank, strong brand recognition, and proven track record of execution.
2. Financial highlights discussed include sustained growth in launches, contracted sales, revenues, EBITDA, and net income in recent years aligned with profitability increases. The company also has a solid balance sheet and favorable debt maturity profile.
3. Trading multiples indicate Gafisa trades at a discount to peers based on its liquidation value after accounting for receivables, taxes, and obligations from sold units.
This corporate presentation discusses the company's competitive advantages and growth opportunities. It summarizes that the company has a diversified portfolio of residential real estate brands targeting different income segments. It has a track record of strong growth and value-creating transactions. There is significant potential demand estimated at around R$170 billion per year for residential real estate across income segments in Brazil.
The document summarizes Banco Indusval & Partners' 1Q11 results presentation. Key points include:
- The bank raised an additional R$201 million in equity capital from new partners including Warburg Pincus.
- A new management team with extensive experience was brought in to lead the bank into a new strategic focus on corporate lending and Brazil's domestic bond market.
- The bank's total credit portfolio grew 12.4% to R$1.97 billion in 1Q11, with 80% in local currency loans.
- Total funding increased 19.5% to R$2.25 billion in 1Q11, with 84% in local currency and longer term time deposits comprising 78% of
The document provides an overview of BI&P's 2Q11 results presentation. It begins with standard disclaimer language about forward-looking statements and risk factors. The presentation then discusses BI&P's new strategic direction after a capital increase and partnership with new investors. Key points include expanded credit portfolio, stable funding sources, adequate capital and liquidity levels, and profit impacted by loan loss provisions and conservative liquidity strategies.
This presentation summarizes LPS Brasil's 1Q11 results. Key highlights include:
- CrediPronto! received its first earn-out payment of R$30.9 million.
- Contracted sales totaled R$3.5 billion, up 37% from 1Q10.
- Net revenue was R$77.4 million, up 23% from 1Q10.
- EBITDA was R$28.4 million, up 32% from 1Q10, with a 37% margin.
- Net income reached R$18.7 million, up 15% from 1Q10.
The presentation provides additional details on operational results,
Please, dial in 5 minutes before the scheduled time.
The presentation will be available on our website: www.lpsb.com.br
Thank you for your participation.
- Multiplus reported strong growth in 3Q11 vs 3Q10 with net revenue up 93.8% and net income up 63.8%
- Gross billings grew 94.3% to R$439 million driven by increases in points sold to both TAM and banks/retail partners
- Cost of points redeemed grew at a faster rate than revenue, reducing gross margin by 14.6 percentage points
- Operating expenses fell as a percentage of revenue, helping operating income rise 46.1% though operating margin declined
- Hedge gains contributed to an 18.9% rise in pre-tax income and net income margin was 17%
Corporate Presentation for January 2011.
The presentation provides an overview of Gafisa's business including its: competitive advantages through differentiated residential products across income segments; strong demand growth potential across segments; national footprint and strategically located land bank; solid track record of execution and value creation through growth, transactions, and capital markets access; strong brand recognition and reputation; operating and financial performance with sustained growth in launches, sales, revenues, profitability and results to be recognized; and solid balance sheet with manageable leverage.
Gafisa corporate presentation eng_december10Gafisa RI !
Corporate Presentation for December 2010.
1. The presentation provides an overview of Gafisa's competitive advantages including its diversified product offerings across all income segments, national footprint capturing major markets, strategically located landbank, strong brand recognition, and proven track record of execution.
2. Financial highlights discussed include sustained growth in launches, contracted sales, revenues, EBITDA, and net income in recent years aligned with profitability increases. The company also has a solid balance sheet and favorable debt maturity profile.
3. Trading multiples indicate Gafisa trades at a discount to peers based on its liquidation value after accounting for receivables, taxes, and obligations from sold units.
This corporate presentation discusses the company's competitive advantages and growth opportunities. It summarizes that the company has a diversified portfolio of residential real estate brands targeting different income segments. It has a track record of strong growth and value-creating transactions. There is significant potential demand estimated at around R$170 billion per year for residential real estate across income segments in Brazil.
The document summarizes Banco Indusval & Partners' 1Q11 results presentation. Key points include:
- The bank raised an additional R$201 million in equity capital from new partners including Warburg Pincus.
- A new management team with extensive experience was brought in to lead the bank into a new strategic focus on corporate lending and Brazil's domestic bond market.
- The bank's total credit portfolio grew 12.4% to R$1.97 billion in 1Q11, with 80% in local currency loans.
- Total funding increased 19.5% to R$2.25 billion in 1Q11, with 84% in local currency and longer term time deposits comprising 78% of
The document provides an overview of BI&P's 2Q11 results presentation. It begins with standard disclaimer language about forward-looking statements and risk factors. The presentation then discusses BI&P's new strategic direction after a capital increase and partnership with new investors. Key points include expanded credit portfolio, stable funding sources, adequate capital and liquidity levels, and profit impacted by loan loss provisions and conservative liquidity strategies.
This presentation summarizes LPS Brasil's 1Q11 results. Key highlights include:
- CrediPronto! received its first earn-out payment of R$30.9 million.
- Contracted sales totaled R$3.5 billion, up 37% from 1Q10.
- Net revenue was R$77.4 million, up 23% from 1Q10.
- EBITDA was R$28.4 million, up 32% from 1Q10, with a 37% margin.
- Net income reached R$18.7 million, up 15% from 1Q10.
The presentation provides additional details on operational results,
Please, dial in 5 minutes before the scheduled time.
The presentation will be available on our website: www.lpsb.com.br
Thank you for your participation.
- Multiplus reported strong growth in 3Q11 vs 3Q10 with net revenue up 93.8% and net income up 63.8%
- Gross billings grew 94.3% to R$439 million driven by increases in points sold to both TAM and banks/retail partners
- Cost of points redeemed grew at a faster rate than revenue, reducing gross margin by 14.6 percentage points
- Operating expenses fell as a percentage of revenue, helping operating income rise 46.1% though operating margin declined
- Hedge gains contributed to an 18.9% rise in pre-tax income and net income margin was 17%
The 1Q11 presentation summarizes LPS Brasil's operational and financial results for the first quarter of 2011. It highlights that contracted sales totaled R$3.5 billion, up 37% from the same period in 2010. CrediPronto originated R$209 million in mortgage loans in the quarter. Net revenue was R$77.4 million, up 23% year-over-year, and EBITDA was R$28.4 million, a 32% increase. Net income reached R$18.7 million, representing a 15% rise. The presentation also provides an overview of LPS Brasil's diversified business lines and their quarterly performance across primary and secondary markets as well as mortgage origination
The document is Monsanto's 2007 U.S. Investor Day presentation. It summarizes Monsanto's strategic plan to more than double its gross profit from $4.3 billion in 2007 to over $9 billion by 2012 through organic growth of its core seed and trait business segments. Key growth drivers include continued expansion of corn and soybean traits in the U.S. and major farming countries, the 2010 launch of the SmartStax corn product, the upcoming introduction of Roundup Ready 2 Yield soybeans, and a strong R&D pipeline of new products. Monsanto aims to achieve mid-to-high teens ongoing EPS growth and gross margins of 52-54% by 2010 through this strategic execution.
This investor presentation summarizes Multiplus S.A., a loyalty program company. It discusses Multiplus' growth in gross billings and market capitalization. Multiplus has an innovative business model with strong cash generation, low capital expenditures, and scalability. The presentation outlines Multiplus' strategy to diversify its sources of points sold and redemptions to different industry partners to control costs and breakage while improving the member experience.
1) The document discusses forward-looking statements and risks associated with mineral exploration and development projects.
2) Key terms like measured, indicated, and inferred resources are defined, though their economic potential is uncertain.
3) Primero had a solid financial position as of September 30, 2011 with $107 million in cash and $50 million in promissory notes receivable.
Q2 2006 Motorola Inc. Earnings Conference Call Presentationfinance7
Motorola reported its Q2 2006 earnings. Key highlights included record sales of $10.9 billion, a 29% increase over the previous year. Net earnings were up 48% and earnings per share increased 49%. Mobile Devices segment saw record unit sales, revenue, and operating earnings. Networks & Enterprise sales and earnings increased quarter-over-quarter. Connected Home sales, earnings, and operating margin grew both year-over-year and quarter-over-quarter. Outlook for Q3 2006 estimated sales between $10.9-$11.1 billion.
The presentation provides an overview of LPS Brasil's operational and financial results for the second quarter of 2011, highlighting record contracted sales of R$5 billion, net revenue of R$127 million (up 59% year-over-year), and net income of R$39.7 million. CrediPronto also achieved strong growth in mortgage originations and financed volume.
Forex Hedging - Advance Technologies Jul 2010Edward He, CFA
The document analyzes various hedging strategies for Advance Technologies Inc. to mitigate foreign exchange risk from expenses denominated in US dollars. It conducts a sensitivity analysis showing how currency fluctuations impact cash flow and income. Two main hedging strategies are evaluated: purchasing at-the-money call options to set a ceiling exchange rate at a upfront premium cost, and entering forward contracts to lock in exchange rates with no upfront cost but a margin requirement. The analysis weighs the costs and benefits of each approach.
Gafisa reported its 2Q10 results, highlighting strong growth. Launches totaled R$1 billion, up 61% year-over-year. Pre-sales reached R$889 million, up 7% quarter-over-quarter. Adjusted EBITDA was R$184 million with a 19.8% margin, up 66% year-over-year. The company maintained its 2010 launch guidance of R$4-5 billion and EBITDA margin guidance of 18.5-20.5%.
Peak Energy Services Trust is an energy services company operating in western Canada and the United States. It provides drilling, production, oil sands, and water technology services. Peak has grown through 26 acquisitions since 1996 and expanded its U.S. operations. It has a diversified asset base of rental equipment and a strong balance sheet with $30 million in working capital and $194 million in tangible assets. Peak is pursuing growth in the recovering oil and gas industry.
This document contains forward-looking statements about Energy Partners, L.P.'s future performance. It warns that actual results may differ from projections. The document also defines and explains the use of non-GAAP financial measures like distributable cash flow and EBITDA, stating that management uses these measures to evaluate performance and that investors also find them useful. It provides website links to reconciliation of non-GAAP measures to comparable GAAP measures.
The document summarizes Chevron's third quarter 2008 earnings conference call. It discusses Chevron's Q3 2008 earnings of $7.9 billion, an update on upstream production including impacts from hurricanes, the status of major capital projects, and other highlights in upstream operations. Representatives from Chevron's executive team presented on topics such as earnings components, production by region, and progress on key projects.
Ideiasnet is a Brazilian business development company focused on long-term investments in IT. It has both private equity and venture capital arms. The private equity side focuses on larger investments in proven businesses for consolidation and growth. The venture capital side, Ideias Ventures, invests in early-stage companies with under R$10M in revenue to provide support for entrepreneurship. Ideiasnet aims to create synergies across its growing portfolio of IT companies.
PDG Realty expands its planned neighborhood developments for low-income residents to the Brazilian states of Goiás, Pará, Mato Grosso, Mato Grosso do Sul and the Federal District. The company partners with EPAR Engenharia to focus on projects in these new regions through a holding company 80% owned by PDG Realty and 20% by EPAR shareholders. EPAR executives have over 20 years of experience with residential developments in these areas. The partnership expects to develop up to R$200 million in residential projects annually, focusing on the low-income segment.
The document summarizes Monsanto's financial results for the first quarter of 2007. Some key points:
- Net sales increased 10% to $1.539 billion compared to the first quarter of 2006.
- Gross profit increased 7% to $680 million.
- Net income increased 53% to $90 million.
- Free cash flow decreased 17% to $533 million due to higher working capital needs.
- Early orders signal a strong start for achieving the company's 2010 trait opportunity goals, with over 35% of corn seed sales expected to be triple-stacked hybrids, up from no triple-stacked sales in 2005.
The document discusses Gafisa's 4Q09 and full year 2009 financial results. Key highlights include a 60% increase in net revenue in 4Q09 and 74% increase for the full year. Gross profit grew 88% in 4Q09 and 67% for 2009. Adjusted EBITDA margins improved to 19.5% in 4Q09 and 20% for 2009. Contracted sales grew 79% in 4Q09 and 26% for the full year. The company also saw strong sales in its middle and mid-high segments and benefited from the "Minha Casa Minha Vida" affordable housing program. Gafisa ended the period with a diversified land bank of over 15 billion reais.
- Gafisa reported its 1Q09 results, with Wilson Amaral, CEO, Duilio Calciolari, CFO, and Julia Freitas Forbes, IR Manager on the call.
- Key highlights included a 11% increase in pre-sales to R$558 million, a 59% increase in net operating revenue to R$542 million, and a 69% increase in EBITDA to R$108 million.
- Recent positive developments for the company included the launch of the government's Minha Casa Minha Vida affordable housing program and Tenda receiving the first R$600 million debenture from Caixa to finance existing projects.
Gafisa reported strong financial results for 3Q10, with launches totaling R$1.24 billion, up 140% year-over-year. Pre-sales increased 27% to R$1.02 billion. Net income before minorities was R$132.9 million, up 50% from 3Q09. Gafisa delivered 16 projects representing R$300 million in PSV during the quarter. The company has a large national land bank of R$16.6 billion that will support continued growth.
This document summarizes Gafisa's second quarter 2008 results. Some key highlights include:
1) Launches increased 102% and pre-sales increased 62% compared to the second quarter of 2007. Net operating revenues rose 63%.
2) EBITDA reached R$74 million, a 106% increase, and net income increased 67% compared to the second quarter of 2007.
3) Gafisa has expanded its operations to 20 Brazilian states with 143 developments nationwide, diversifying its product offerings and presence in new markets.
Public meeting presentation with analysts and investorsGafisa RI !
The document provides an agenda and presentations for a public company meeting in December 2008, including presentations from the CEO and other directors on the company's history, strategy, product lines, launches, sales, and operating highlights for the year. It also discusses the current state of the housing market in Brazil and measures the company is taking in light of the global financial crisis.
This document discusses the opportunity in the Brazilian real estate market for large-scale, planned communities that provide housing and infrastructure for low to middle income households. It outlines the formation of a new company called Bairro Novo, a joint venture between Gafisa and Construtora Norberto Odebrecht, to address the deficit of 7.5 million homes in Brazil. Bairro Novo will develop neighborhoods of 1,000-10,000 units with schools, services, and amenities using a low-cost construction model and favorable mortgage terms through various financial institutions. The first Bairro Novo project in Cotia, São Paulo is highlighted as a pilot to validate this new development approach.
This document summarizes Gafisa's 4Q08 and FY08 earnings presentation. Some key points:
- Gafisa achieved growth in 2008 despite economic challenges through expanding into lower income segments with the Tenda acquisition and maintaining dedicated management teams across platforms.
- FY08 launches increased 88% to R$4.2 billion and pre-sales grew 58% to R$2.6 billion, though higher income pre-sales declined as buyers became cautious.
- 4Q08 results were negatively impacted by special charges from project cancellations and restructuring to position the company for future growth, but sales were solid with 79% of launches pre-sold. Excluding charges, margins and income
The 1Q11 presentation summarizes LPS Brasil's operational and financial results for the first quarter of 2011. It highlights that contracted sales totaled R$3.5 billion, up 37% from the same period in 2010. CrediPronto originated R$209 million in mortgage loans in the quarter. Net revenue was R$77.4 million, up 23% year-over-year, and EBITDA was R$28.4 million, a 32% increase. Net income reached R$18.7 million, representing a 15% rise. The presentation also provides an overview of LPS Brasil's diversified business lines and their quarterly performance across primary and secondary markets as well as mortgage origination
The document is Monsanto's 2007 U.S. Investor Day presentation. It summarizes Monsanto's strategic plan to more than double its gross profit from $4.3 billion in 2007 to over $9 billion by 2012 through organic growth of its core seed and trait business segments. Key growth drivers include continued expansion of corn and soybean traits in the U.S. and major farming countries, the 2010 launch of the SmartStax corn product, the upcoming introduction of Roundup Ready 2 Yield soybeans, and a strong R&D pipeline of new products. Monsanto aims to achieve mid-to-high teens ongoing EPS growth and gross margins of 52-54% by 2010 through this strategic execution.
This investor presentation summarizes Multiplus S.A., a loyalty program company. It discusses Multiplus' growth in gross billings and market capitalization. Multiplus has an innovative business model with strong cash generation, low capital expenditures, and scalability. The presentation outlines Multiplus' strategy to diversify its sources of points sold and redemptions to different industry partners to control costs and breakage while improving the member experience.
1) The document discusses forward-looking statements and risks associated with mineral exploration and development projects.
2) Key terms like measured, indicated, and inferred resources are defined, though their economic potential is uncertain.
3) Primero had a solid financial position as of September 30, 2011 with $107 million in cash and $50 million in promissory notes receivable.
Q2 2006 Motorola Inc. Earnings Conference Call Presentationfinance7
Motorola reported its Q2 2006 earnings. Key highlights included record sales of $10.9 billion, a 29% increase over the previous year. Net earnings were up 48% and earnings per share increased 49%. Mobile Devices segment saw record unit sales, revenue, and operating earnings. Networks & Enterprise sales and earnings increased quarter-over-quarter. Connected Home sales, earnings, and operating margin grew both year-over-year and quarter-over-quarter. Outlook for Q3 2006 estimated sales between $10.9-$11.1 billion.
The presentation provides an overview of LPS Brasil's operational and financial results for the second quarter of 2011, highlighting record contracted sales of R$5 billion, net revenue of R$127 million (up 59% year-over-year), and net income of R$39.7 million. CrediPronto also achieved strong growth in mortgage originations and financed volume.
Forex Hedging - Advance Technologies Jul 2010Edward He, CFA
The document analyzes various hedging strategies for Advance Technologies Inc. to mitigate foreign exchange risk from expenses denominated in US dollars. It conducts a sensitivity analysis showing how currency fluctuations impact cash flow and income. Two main hedging strategies are evaluated: purchasing at-the-money call options to set a ceiling exchange rate at a upfront premium cost, and entering forward contracts to lock in exchange rates with no upfront cost but a margin requirement. The analysis weighs the costs and benefits of each approach.
Gafisa reported its 2Q10 results, highlighting strong growth. Launches totaled R$1 billion, up 61% year-over-year. Pre-sales reached R$889 million, up 7% quarter-over-quarter. Adjusted EBITDA was R$184 million with a 19.8% margin, up 66% year-over-year. The company maintained its 2010 launch guidance of R$4-5 billion and EBITDA margin guidance of 18.5-20.5%.
Peak Energy Services Trust is an energy services company operating in western Canada and the United States. It provides drilling, production, oil sands, and water technology services. Peak has grown through 26 acquisitions since 1996 and expanded its U.S. operations. It has a diversified asset base of rental equipment and a strong balance sheet with $30 million in working capital and $194 million in tangible assets. Peak is pursuing growth in the recovering oil and gas industry.
This document contains forward-looking statements about Energy Partners, L.P.'s future performance. It warns that actual results may differ from projections. The document also defines and explains the use of non-GAAP financial measures like distributable cash flow and EBITDA, stating that management uses these measures to evaluate performance and that investors also find them useful. It provides website links to reconciliation of non-GAAP measures to comparable GAAP measures.
The document summarizes Chevron's third quarter 2008 earnings conference call. It discusses Chevron's Q3 2008 earnings of $7.9 billion, an update on upstream production including impacts from hurricanes, the status of major capital projects, and other highlights in upstream operations. Representatives from Chevron's executive team presented on topics such as earnings components, production by region, and progress on key projects.
Ideiasnet is a Brazilian business development company focused on long-term investments in IT. It has both private equity and venture capital arms. The private equity side focuses on larger investments in proven businesses for consolidation and growth. The venture capital side, Ideias Ventures, invests in early-stage companies with under R$10M in revenue to provide support for entrepreneurship. Ideiasnet aims to create synergies across its growing portfolio of IT companies.
PDG Realty expands its planned neighborhood developments for low-income residents to the Brazilian states of Goiás, Pará, Mato Grosso, Mato Grosso do Sul and the Federal District. The company partners with EPAR Engenharia to focus on projects in these new regions through a holding company 80% owned by PDG Realty and 20% by EPAR shareholders. EPAR executives have over 20 years of experience with residential developments in these areas. The partnership expects to develop up to R$200 million in residential projects annually, focusing on the low-income segment.
The document summarizes Monsanto's financial results for the first quarter of 2007. Some key points:
- Net sales increased 10% to $1.539 billion compared to the first quarter of 2006.
- Gross profit increased 7% to $680 million.
- Net income increased 53% to $90 million.
- Free cash flow decreased 17% to $533 million due to higher working capital needs.
- Early orders signal a strong start for achieving the company's 2010 trait opportunity goals, with over 35% of corn seed sales expected to be triple-stacked hybrids, up from no triple-stacked sales in 2005.
The document discusses Gafisa's 4Q09 and full year 2009 financial results. Key highlights include a 60% increase in net revenue in 4Q09 and 74% increase for the full year. Gross profit grew 88% in 4Q09 and 67% for 2009. Adjusted EBITDA margins improved to 19.5% in 4Q09 and 20% for 2009. Contracted sales grew 79% in 4Q09 and 26% for the full year. The company also saw strong sales in its middle and mid-high segments and benefited from the "Minha Casa Minha Vida" affordable housing program. Gafisa ended the period with a diversified land bank of over 15 billion reais.
- Gafisa reported its 1Q09 results, with Wilson Amaral, CEO, Duilio Calciolari, CFO, and Julia Freitas Forbes, IR Manager on the call.
- Key highlights included a 11% increase in pre-sales to R$558 million, a 59% increase in net operating revenue to R$542 million, and a 69% increase in EBITDA to R$108 million.
- Recent positive developments for the company included the launch of the government's Minha Casa Minha Vida affordable housing program and Tenda receiving the first R$600 million debenture from Caixa to finance existing projects.
Gafisa reported strong financial results for 3Q10, with launches totaling R$1.24 billion, up 140% year-over-year. Pre-sales increased 27% to R$1.02 billion. Net income before minorities was R$132.9 million, up 50% from 3Q09. Gafisa delivered 16 projects representing R$300 million in PSV during the quarter. The company has a large national land bank of R$16.6 billion that will support continued growth.
This document summarizes Gafisa's second quarter 2008 results. Some key highlights include:
1) Launches increased 102% and pre-sales increased 62% compared to the second quarter of 2007. Net operating revenues rose 63%.
2) EBITDA reached R$74 million, a 106% increase, and net income increased 67% compared to the second quarter of 2007.
3) Gafisa has expanded its operations to 20 Brazilian states with 143 developments nationwide, diversifying its product offerings and presence in new markets.
Public meeting presentation with analysts and investorsGafisa RI !
The document provides an agenda and presentations for a public company meeting in December 2008, including presentations from the CEO and other directors on the company's history, strategy, product lines, launches, sales, and operating highlights for the year. It also discusses the current state of the housing market in Brazil and measures the company is taking in light of the global financial crisis.
This document discusses the opportunity in the Brazilian real estate market for large-scale, planned communities that provide housing and infrastructure for low to middle income households. It outlines the formation of a new company called Bairro Novo, a joint venture between Gafisa and Construtora Norberto Odebrecht, to address the deficit of 7.5 million homes in Brazil. Bairro Novo will develop neighborhoods of 1,000-10,000 units with schools, services, and amenities using a low-cost construction model and favorable mortgage terms through various financial institutions. The first Bairro Novo project in Cotia, São Paulo is highlighted as a pilot to validate this new development approach.
This document summarizes Gafisa's 4Q08 and FY08 earnings presentation. Some key points:
- Gafisa achieved growth in 2008 despite economic challenges through expanding into lower income segments with the Tenda acquisition and maintaining dedicated management teams across platforms.
- FY08 launches increased 88% to R$4.2 billion and pre-sales grew 58% to R$2.6 billion, though higher income pre-sales declined as buyers became cautious.
- 4Q08 results were negatively impacted by special charges from project cancellations and restructuring to position the company for future growth, but sales were solid with 79% of launches pre-sold. Excluding charges, margins and income
The document summarizes Gafisa's 2nd quarter 2006 results and provides an outlook for the Brazilian housing market and Gafisa's position in that market. Specifically:
- Gafisa reported 151% growth in housing launches and 168% growth in pre-sales in 2Q06 compared to 2Q05.
- Despite strong pre-sales results, Gafisa's financial results continue to be impacted by external events from 2004 as revenues are recognized over time under the PoC method.
- The Brazilian housing market is expected to continue growing significantly due to favorable demographics and pent-up demand, supported by increasing mortgage availability and declining interest rates.
- Gafisa is well positioned to
The document summarizes Gafisa's first quarter 2009 results conference call. Key highlights include:
- Pre-sales increased 11% year-over-year while launches decreased 72% due to the conservative approach to project development.
- Net operating revenues rose 59% to R$542 million supported by growth in pre-sales. EBITDA increased 69% to R$108 million.
- Gafisa is well positioned to benefit from the new government housing program with two thirds of Tenda's business in the targeted affordable segment.
- The company has a strong financial position with over R$1.1 billion in cash and available credit lines to finance existing projects.
-
The document summarizes Gafisa's third quarter 2009 results conference call. It discusses strong sales performance in the mid and mid-high housing segments. It also notes the expansion of the affordable housing program and Gafisa's growing national footprint. Financially, it highlights contracted sales growth of 48% and a backlog of over R$2.9 billion in revenues to be recognized. Over R$1 billion in new project launches are planned for the fourth quarter of 2009.
The document is a transcript of a conference call for Gafisa's 3Q09 results. In the call, Wilson Amaral, Gafisa's CEO, provides a positive outlook for the company and the housing market. He notes that pre-sales increased 48% year-over-year to R$800 million. Net operating revenue rose 139% to R$877 million. Adjusted EBITDA was R$179 million, up 157% over the prior year. Finally, he announces Gafisa's intention to merge the remaining shares of Tenda, its affordable housing division, into Gafisa to improve efficiency.
The document provides preliminary unaudited results for 2011 and outlines Gafisa Group's strategic plan. Key points include:
- 4Q11 results include non-cash corrective adjustments totaling R$889 million, mostly from budget revisions and strategy changes at Tenda.
- A new strategic plan focuses operations in key markets, reduces risk at Tenda under a profitable model, and expands AlphaVille's share.
- Guidance for 2012 includes operational cash flow of R$500-700 million, launches of R$2.7-3.3 billion, and delivery of 22,000-26,000 units.
Gafisa reported its third quarter 2008 results with increases in launches, pre-sales, revenues and net income compared to the third quarter of 2007. Key highlights included a 79% increase in launches to R$762 million and a 37% rise in pre-sales to R$504 million. Net operating revenues grew 19% to R$373 million while net income increased 5% to R$38 million. Gafisa also completed its acquisition of Tenda, strengthening its position in the low income real estate segment. Looking ahead, Gafisa expects to benefit from the Tenda consolidation in the fourth quarter and maintained its full year 2008 guidance.
Gafisa reported strong financial and operational results for 2007 and 4Q07. Key highlights included:
- 122% increase in consolidated launches and 63% increase in pre-sales for 2007. Net operating revenues rose 77% for the year.
- 4Q07 results showed 176% increase in launches and 75% increase in pre-sales over 4Q06. Net operating revenues rose 56% quarter-over-quarter.
- Adjusted EBITDA increased 87% in 2007 and 101% in 4Q07, with margins of 15.7% and 16.5% respectively. Adjusted net income rose 89% for the full year.
- Backlog of results reached a record
The document provides an overview and agenda for a Gafisa Day presentation. It includes forward-looking statements and risk disclosures. It then outlines the agenda which covers an introduction, market and macroeconomic overview, details on Gafisa as a company, its business segments, and a wrap-up question and answer period. Management is present to discuss Gafisa's history, financial and operating results, and growth opportunities in the Brazilian real estate market.
1. Gafisa reported financial results for 1Q12 with consolidated net revenue of R$927.8 million, up 27% year-over-year, and gross profit of R$201.6 million, up 75% year-over-year.
2. AlphaVille represented 54% of total launches and 45% of total pre-sales during the quarter. Tenda continued working through its legacy projects with negative pre-sales of R$90.4 million.
3. The company ended 1Q12 with a cash position of R$947 million and a net debt to equity ratio of 46% excluding project finance, as it focuses on deleveraging its balance sheet.
The document summarizes Santander's 7th annual Brazil conference held in August 2006. It provides an overview of Gafisa's second quarter 2006 results including a 151% increase in launches and 168% increase in pre-sales compared to the same period last year. It also discusses the strong growth prospects for Brazil's housing market given favorable demographics and increasing availability of mortgage financing.
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.
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.
The document is a presentation from Marshall Larsen, Chairman and CEO of Goodrich Corporation, at the 14th Annual Credit Suisse Aerospace and Defense Conference on November 19, 2008. It discusses Goodrich's financial outlook, the commercial aerospace market environment, and Goodrich's strategies and positioning. Goodrich expects sales and EPS growth to continue in 2009 despite challenges in the global economy and airline industry, with balanced growth across commercial aerospace and defense markets.
This document provides an overview of Goodrich Corporation's performance and outlook from its Chairman, President and CEO at an aerospace and defense conference. It summarizes Goodrich's balanced portfolio, consistent financial results, and expectations for continued sales and earnings growth in 2009 despite challenges in the commercial aerospace market. Goodrich expects commercial aftermarket sales to grow 4-7% in 2009. While global passenger capacity is expected to decline in 2009, in-production aircraft are not targeted for grounding and their utilization rates have not dropped significantly. Goodrich remains focused on opportunities in the defense and space market to pursue balanced growth.
This document provides an overview of Regency Retail Partners, L.P., a proposed $500 million open-end retail real estate fund sponsored by Regency Centers. The fund will invest in high-quality stabilized community shopping centers owned by Regency with a focus on national/regional tenants. Regency will co-invest 20% and provide the fund an exclusive pipeline of over $900 million in new development properties to acquire. The goal is to generate a 6.0% average cash yield and 9.0%+ net IRR for investors through stable cash flows from a portfolio of dominant retail properties in desirable locations.
This document provides an overview and summary of Liberty Global's 3rd Quarter 2008 Investor Call. It begins with introductory remarks noting the company's stable growth, diverse markets, and strategy remaining intact. The agenda outlines sections on operating updates, financial results, and Q&A. Key highlights include rebased growth rates of 6% for revenue and 13% for OCF year-to-date, record OCF margins in Q3, and growing penetration of advanced services driving ARPU and net adds across various markets. Financial results show continued OCF and free cash flow growth. The balance sheet maintains significant liquidity and leverage metrics trending lower. Limited near-term debt amaturities provide flexibility.
This document provides an overview and agenda for Liberty Global's 3rd Quarter 2008 Investor Call. It begins with introductory remarks noting the company's stable growth, diverse markets, and intact strategy. The agenda outlines sections on operating updates, financial results, and Q&A. Under operating updates, it summarizes key metrics and trends for UPC Broadband, J:COM, VTR and other segments. The financial results section reviews revenue, operating cash flow, capital expenditures, balance sheet, debt amortization schedule and conclusions. It directs readers to an appendix for definitions of terms used.
1. Santander reported consistent results in Q1 2009, with attributable profit decreasing 5% year-over-year to EUR 2.096 billion. Excluding exchange rates, profit increased 9%.
2. Net interest income increased 18.8% excluding exchange rates, driven by spreads management in a low interest rate environment. Operating expenses increased 1.8% excluding exchange rates and perimeter changes, reflecting strict cost control.
3. Loan-loss provisions increased 67.8% excluding exchange rates to EUR 2.234 billion, but were lower than in Q4 2008 due to specific provisions. Generic provisions decreased as forecasted.
1. Santander reported consistent results in Q1 2009, with attributable profit decreasing 5% year-over-year to EUR 2.096 billion. Excluding exchange rates, profit increased 9%.
2. Net interest income increased 18.8% excluding exchange rates, driven by spreads management in a low interest rate environment. Operating expenses increased 1.8% excluding exchange rates and perimeter changes, reflecting strict cost control.
3. Loan-loss provisions increased 67.8% excluding exchange rates to EUR 2.234 billion, but were lower than in Q4 2008 due to specific provisions. Generic provisions decreased as forecasted.
The document discusses CNO Financial Group's presentation at the 2013 Citi US Financial Services Conference. It notes that the presentation contains forward-looking statements and non-GAAP financial measures, and provides an overview of CNO Financial Group's fundamentals, strengths, growth strategies, and financial trends. Specifically, it highlights CNO's focus on the middle-income market, track record of execution, investments in productivity and growth, expanding business lines, and stable and growing segment earnings.
- 2008 was a difficult year for Ameriprise Financial due to turmoil in the equity and credit markets that impacted client assets and fee revenue. The company reported a net loss of $38 million compared to a net income of $814 million in 2007.
- Despite the challenges, Ameriprise Financial maintained a solid balance sheet with $6.2 billion in cash and cash equivalents and $700 million in excess capital. The company continued supporting its advisors and clients through market volatility.
- In response to a money market fund breaking the dollar, Ameriprise Financial advanced affected clients $400 million to meet immediate cash needs and committed to mitigate losses in the impaired fund, demonstrating its dedication to clients.
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to lower fee revenue from declining client assets and reduced client activity in the weak market. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite the difficult market conditions, Ameriprise Financial's business remains sound due to its conservative risk management approach and strong balance sheet fundamentals including $34 billion in diversified assets, $6 billion in cash, and $0.7 billion in excess capital.
- The company continues to execute on its strategy focused on financial planning, serving clients through its network of over 12,000
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to declining markets and reduced client activity. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite the difficult market conditions, Ameriprise Financial's business remains sound due to its conservative risk management approach and strong balance sheet fundamentals including $34 billion in diversified assets, $6 billion in cash, and $700 million in excess capital.
- The company continues to execute its strategy focused on financial planning, serving clients through over 12,000 advisors, and growing while protecting assets over the long term.
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to declining markets and reduced client activity. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite significant market challenges, Ameriprise Financial's business remains strong due to its client-focused financial planning model, diversified business lines, and solid balance sheet fundamentals including $34 billion in diversified assets and $6 billion in cash.
- The company continues executing its long-term strategy and pursuing growth opportunities, while also reducing costs, with the goal of emerging from the economic downturn well-positioned for the
NorthStar Realty Finance is a commercial real estate finance company with $6.8 billion of assets under management across three business lines: commercial real estate lending, real estate securities investment/management, and net leased corporate/healthcare properties. The company has a seasoned management team with extensive experience and a focus on credit risk management. Key highlights include a strong liquidity position, minimal near-term debt maturities, and consistent dividend payments since going public. NorthStar's priorities are liquidity/capital retention, intensive credit monitoring, capital raising through alternative sources, and opportunistic investments.
NorthStar Realty Finance is a commercial real estate finance company with three primary business lines: commercial real estate lending, real estate securities investment and management, and net leased corporate and healthcare properties. It has $6.8 billion of commercial real estate loans, securities, and properties under management. NorthStar focuses on senior loans, direct origination, and long-term capital raising. It has a seasoned management team with extensive experience and a strong credit track record through economic cycles. NorthStar prioritizes liquidity management, capital retention, and intensive credit risk management during the difficult market environment.
Jp morgan -_032113_presentation_-_finalCNOServices
The document discusses CNO Financial Group's presentation at the 2013 J.P. Morgan Insurance Conference on March 21, 2013. It provides an overview of CNO Financial Group, highlighting its focus on serving the middle-income market, its track record of execution and investment in growth. Specific metrics are presented on core sales growth excluding Bankers annuities, growth in average liabilities on core business segments, and stable and growing segment earnings excluding significant items. Forward-looking statements are also noted and non-GAAP measures are referenced.
Textron's 2000 annual report outlines its new strategic framework aimed at delivering compelling growth through creating a portfolio of powerful brands and fostering enterprise excellence, with return on invested capital (ROIC) as the key performance metric. Some key points:
- The framework focuses on transitioning businesses into strong brands in attractive, growing industries and leveraging the potential of the Textron enterprise through initiatives like supply chain management, e-business strategies, and shared services.
- Financial goals include achieving a ROIC at least 400 basis points above the weighted average cost of capital, 5% annual organic revenue growth, segment profit margins over 13%, and 10% annual earnings per share growth.
- A Transformation Leadership Team was established to lead
The document provides highlights from BI&P's 1st quarter 2012 results presentation. Key points include:
- BI&P's credit portfolio grew 8.9% in the quarter and 38.4% over 12 months, reaching R$2.8 billion, with the corporate segment now representing 35% of the portfolio.
- Credit quality continued to improve, with loans rated AA to B increasing to 75.3% of the portfolio.
- The agricultural bonds portfolio grew 77.6% in the quarter to R$230 million, improving BI&P's funding mix.
- Net profit was R$5 million for the quarter, in line with management forecasts given leverage levels and increased loan
TaskRabbit, Inc. - Venture Capital Financing Deal Terms & ValuationsVC Experts, Inc.
Deal Terms, Pricing, and Valuations of the latest financing rounds for TaskRabbit, Inc. Similar data on thousands of private companies is available in the Valuation & Deal Term Database at http://vcexperts.com.
This document provides a summary of OGX's 3Q11 results and subsequent events. Key highlights include:
- Progress towards first oil production from the Waimea field and installation of the FPSO vessel.
- Drilling and testing of production wells in the Parnaiba basin and contracting for a gas production facility.
- Continued intensification of the appraisal campaign with 9 wells drilled in the Campos Basin.
- Sale of first oil cargo to Shell totaling 1.2 million barrels at an average discount of $5.5 to Brent crude prices.
The document also provides financial results for 3Q11 including exploration expenses, general and administrative expenses, and cash position
- The company reported financial results for the fourth quarter and full year of 2014.
- For the Gafisa segment, net pre-sales fell 61% year-over-year in 4Q14. Adjusted EBITDA was R$81.8 million with a 16.7% margin.
- For the Tenda segment, launches increased 173% year-over-year in 4Q14 while pre-sales fell 23%. Adjusted EBITDA was negative R$30.9 million.
- Consolidated net revenue increased 31% quarter-over-quarter. Adjusted gross profit rose 9% and adjusted gross margin was 30.2%.
O documento apresenta os resultados financeiros do 4T14 e do ano de 2014 para os segmentos Gafisa e Tenda. No segmento Gafisa, as vendas contratadas totalizaram R$177 milhões no 4T14 e R$811 milhões no ano. O lucro líquido foi de R$36,8 milhões no trimestre. No segmento Tenda, as vendas contratadas foram de R$126,6 milhões no trimestre, enquanto o prejuízo líquido foi de R$28,8 milhões. O documento também discute o desempen
The document outlines Gafisa's investor day agenda, which includes presentations on Gafisa and Tenda's strategy, operations, and financial performance. It also provides an overview of Gafisa's history and strategic repositioning over time to focus on core markets in Sao Paulo and Rio de Janeiro. Gafisa has implemented improvements to streamline operations and reduce costs, improving financial results with stable operating margins and profitability expected to continue at current levels based on backlog revenues and margins.
O documento apresenta as informações para o Investor Day da Gafisa realizado em 04 de dezembro de 2014. Nele, a empresa faz declarações prospectivas sobre seus negócios que estão sujeitas a riscos e incertezas. A agenda do evento inclui apresentações sobre a estratégia e desempenho operacional e financeiro da Gafisa e de sua subsidiária Tenda.
- In 3Q14, the company's launches totaled R$510 million, up 142% year-over-year. Net pre-sales were R$230 million, down 32% year-over-year.
- Adjusted gross profit was R$179.9 million with a margin of 36.4%, up 200 basis points from the prior year. Adjusted EBITDA was R$73.5 million with a margin of 14.9%, down 750 basis points from the prior year.
- Net loss was R$10 million compared to net income of R$15.8 million in 3Q13, impacted by lower pre-sales and margins in the Tenda segment.
O documento apresenta os resultados financeiros da Gafisa e Tenda no 3T14 e nos primeiros 9 meses de 2014. A Gafisa teve aumento nos lançamentos e vendas contratadas, além de melhora nas margens. A Tenda reduziu prejuízos com foco no novo modelo de negócios, apesar de queda nas vendas. Ambas as empresas tiveram redução de custos.
The document summarizes the company's 1Q14 results conference call. It discusses positive operational and financial results for both the Gafisa and Tenda segments. Gafisa saw increases in launches, pre-sales, gross profit and EBITDA. Tenda's launches and pre-sales also increased significantly year-over-year, though it continues to have negative EBITDA. The company has a net debt to equity ratio of 1.26x and generated cash of R$20.5 million in 1Q14. Management provided updates on recent events including the shareholder meeting, dividend program, and preliminary studies on separating the Gafisa and Tenda business units.
Este documento apresenta os resultados da empresa no primeiro trimestre de 2014. Os principais pontos são: (1) Lançamentos totais de R$535 milhões, aumento de 172% em relação ao mesmo período do ano anterior. (2) Vendas contratadas totais de R$239 milhões, aumento de 122% na comparação anual. (3) Lucro bruto ajustado de R$132 milhões e margem bruta ajustada de 30,5%.
- Consolidated launches totaled R$1.6 billion in 4Q13, up 224.9% quarter-over-quarter and 8.7% year-over-year. Consolidated pre-sales reached R$1.3 billion in 4Q13 and R$2.5 billion in 2013.
- Net income for 4Q13 was R$921.3 million and R$867.4 million for 2013. Operating cash generation was R$667.7 million in 2013, resulting in positive free cash flow of R$97.3 million.
- Guidance for 2014 includes consolidated launches of R$2.1-2.5 billion and leverage of 55-65%.
- Company reported financial results for 4Q13 and full year 2013, with consolidated launches totaling R$1.6 billion for 4Q13, up 224.9% quarter-over-quarter.
- Adjusted EBITDA was R$978.9 million for 4Q13 and R$1.3 billion for 2013, reflecting contributions from the Alphaville transaction.
- Net income was R$921.3 million for 4Q13 and R$867.4 million for 2013.
1) O documento apresenta os resultados financeiros e operacionais da empresa no 4T13 e no ano de 2013, destacando o crescimento dos lançamentos, vendas e lucro operacional.
2) Também discute eventos recentes como a venda de participação na AUSA, programa de recompra de ações, e proposta de separação das unidades de negócio.
3) Fornece detalhes do balanço patrimonial pós-transação e status dos turnarounds dos segmentos Gafisa e Tenda.
O documento apresenta o planejamento da Gafisa para o Investor Day de 18 de dezembro de 2013, com as seguintes informações essenciais:
1) A agenda do evento inclui apresentações sobre a estratégia da Gafisa, Tenda, Alphaville, cadeia de suprimentos e finanças;
2) A empresa tem focado sua atuação nos mercados do Rio de Janeiro e São Paulo e reduzido a complexidade das operações;
3) A Gafisa tem concentrado seu banco de terrenos em projetos de médio
Gafisa reported financial and operating results for 3Q13. Key highlights included:
- Launches totaled R$498 million in 3Q13, up 8.1% q-o-q and 10.3% y-o-y.
- Consolidated pre-sales reached R$1.2 billion in 9M13.
- Net income was R$15.8 million in 3Q13, reversing a net loss in 2Q13.
- Positive free cash flow of R$32.1 million in 3Q13, compared to a cash burn in 2Q13.
A presentação 3 t13 - port - v0511_v2 (1)Gafisa RI !
O documento apresenta os resultados financeiros da empresa no 3T13. Os principais destaques são: (1) lucro líquido de R$15,8 milhões no trimestre revertendo prejuízo anterior; (2) geração de caixa positiva de R$32,1 milhões; (3) evolução da margem bruta. A empresa também fornece atualizações sobre a transação da Alphaville e perspectivas para 2013.
O documento apresenta os resultados financeiros da empresa no 2T13, destacando:
1) A venda de uma participação de 70% na Alphaville por R$2,01 bilhões, fortalecendo o caixa e reduzindo a alavancagem.
2) Melhoras nas vendas e redução gradual nos distratos, concentrando lançamentos e vendas nos mercados estratégicos de SP e RJ.
3) Retomada dos lançamentos da Tenda no fundamento, com redução do estoque legado e do ciclo financeiro.
- Gafisa reported 2Q13 results with sales exceeding launches and sequential improvement in the speed of sales.
- Gafisa entered an agreement to sell a 70% stake in Alphaville to Blackstone and Patria, generating expected proceeds of R$1.4 billion to reduce leverage.
- The sale allows shareholders to participate in long-term value through the retained 30% stake while unlocking value generated since Alphaville's acquisition.
- Gafisa S.A. signed an agreement to sell a 70% stake in Alphaville to Blackstone and Pátria, valuing the company at R$2.01 billion and generating expected gross cash proceeds of R$1.4 billion.
- The sale strengthens Gafisa's balance sheet by reducing leverage and generating long-term shareholder value. Shareholders will participate in future value creation through the retained 30% stake.
- In 2Q13, Gafisa exceeded sales over launches and saw sequential improvement in its sales velocity. Tenda's new launches are performing well and its financial cycle has halved to an average of 7 months.
- Post-
A apresentação discute os resultados financeiros da empresa no 2T13, incluindo a venda de uma participação majoritária na Alphaville para a Blackstone e Pátria. Além disso, fornece atualizações sobre o desempenho operacional dos segmentos Gafisa e Tenda e explica ajustes nas demonstrações financeiras devido à classificação de ativos da Alphaville como mantidos para venda.
O documento descreve a estratégia e histórico da Gafisa, incluindo: 1) A Gafisa focou-se inicialmente em crescimento orgânico e aquisições, mas agora prioriza oportunidades de alto retorno e disciplina financeira; 2) A venda de uma participação de 70% na Alphaville para a Blackstone e Pátria reduzirá significativamente a alavancagem da Gafisa; 3) A Tenda está relançando suas operações sob um novo modelo de negócios rentável.
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
2. Disclaimer
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. Gafisa‟s Differentiation
Industry Leading Liquidity and Corporate
Governance
Multifaceted Residential Products in All Income
Segments
National Footprint
Proven Track Record of Execution
Strong Brand Recognition and Solid Reputation
3
4. Shareholder Structure, Corporate Governance and
Liquidity
True corporation listed on the NYSE and the most liquid Brazilian Real Estate company
GFSA3 Majority Independent Board of Directors;
100% Senior management with an average of over 20
years of experience and interests aligned with
shareholders through Stock Option Plan;
80% 100%
Permanent Fiscal Council, Audit, Compensation,
Finance and Governance committees
100% free float;
Avg. Daily Trading Volume (R$ mm) - Last 90 days1
100% tag along rights;
110
84
100% common shares (“Novo Mercado”);
72
Full compliance with Sarbanes-Oxley;
36 36
Only Brazilian real estate company listed on the
16
NYSE.
PDG Cyrela Rossi MRV Brookfield
1. Source: Bloomberg as of August 2nd, 2010
4
5. Solid Track Record of Value Creation
Strong growth, value-creating transactions with a successful history in the capital
markets
1
3,921
3,022
Net revenue (R$ mm)
New Follow-on:
Net Primary
1,740 proceeds of
R$1.02 billion
1,204
664 R$600 mm
457 in FI-FGTS
debentures
(May/09)
Acquisition of
Follow-on: a 60% stake
R$488 mm
of primary R$600 mm Increase in
IPO: proceeds stake from
in FI-FGTS
R$494 mm 60% to 80%
debentures
of primary
(Dec/09)
proceeds
Equity
International First Brazilian
investment company in
the sector to
be listed in
Acquisition the NYSE Acquisition of
Foundation
of a 60% the remaining
stake 40%
1954 - 2004 2005 2006 2007 2008 2009 2010
1. Source: Consensus Bloomberg as of August 6th, 2010
5
7. Multifaceted Residential Products in All Income Segments
Focused on the residential market, with 3 leading brands strategically positioned in
all income segments
Segment /
Income
Mid and Upper-Mid Mid and Upper-Mid Affordable Entry-Level
Price
Unit price: > R$200 thousand Unit price: R$70 – R$500 Unit price: R$50 – R$200 thousand
Contribution
Sales
1H10
48% 14% 38%
Presence
44 cities in 14 states 55 cities in 22 states 91 cities in 14 states
Completed
Projects
17 projects/phases in 2009 5 projects/phases in 2009 130 projects/phases in 2009
Characteristics
Vertical Horizontal lot development Horizontal / Vertical
Metropolitan areas Suburban areas Metropolitan areas and surroundings
Custom projects Custom projects Standardized products
7
8. Strong Demand Growth in All Segments
Strong potential demand of around R$170 billion per year, being 58% in the mid and
upper mid income segment and 42% in the affordable entry-level segment
Number of Families (mm) New Families
Income Bracket Gafisa Potential Demand per Year
per Year
(Monthly) Brands (R$ bn)
2007 2030 (thousand)
Above R$ 32,000 0 0.3 13
Mid and Upper-Mid
New Families
R$ 16,000 - R$ 32,000 0.3 1.3 530
Income
43 (thousands)
Potential Demand
101
R$ 8,000 - R$ 16,000 1.1 4.3 139 (R$ bn)1
R$ 4,000 - R$ 8,000 3.3 11.0 335
New Families
R$ 2,000 - R$ 4,000 8.4 21.8 583 (thousands)
846
Entry-Level
Affordable
Potential Demand
72
(R$ bn)2
R$ 1,000 - R$ 2,000 15.5 27.6 526
Up to R$ 1,000 31.7 29.1 (113)
1,526
TOTAL 60.3 95.4 1,526
Source: “O Brasil Sustentável”, FGV and Ernst & Young, 2007
Notes: Gafisa: Positioned to capture growth in all
1. Assumes an average ticket of R$190,000
2. Assumes an average ticket of R$85,000 income segments demand
8
9. National Footprint
National footprint captures both rapidly growing and large metropolitan regions
Geographic Footprint Landbank Distribution vs. GDP Distribution
Landbank 2Q10 GDP Distribution - 2006
South South
7% 16%
Midwest São Paulo São Paulo
12% 34% Midwest 34%
9%
Northeast Northeast
19% 13%
North Rio de Janeiro North Rio de Janeiro
5% 14% 5% 12%
Other Southeast Others Southeast
9% 11%
R$ 15.8 Billion
Real GDP Growth 1
8.0%
6.6% 6.9%
Brand States2 Cities Legend 4.7%
14 44 3.1%
14 91
22 55
Consolidated 23 129
South Midw est Southeast Northeast North
Source: Company and IBGE
Note:
1. Nominal GDP growth rate per year for 2003 – 2006 adjusted by the average consumer price index (IPCA) of the period
2. Including Brasilia Federal District . 9
10. Strategically Located Land Bank
Gafisa has a strategic land bank that allows for continued project launches
Land bank distribution 1H10 Land bank PSV (R$ million)
Potential
Future
number of Swap
Company sales
units % 15,823 1,656 15,768
R$ billion
(% Gafisa) 1.6x
4,285 (1,712) 3,972
18.4 7.5 41.3
10,195
29.2 4.3 96.8 1,536 3,962 4,298
4.7x
2,930
42.9 4.0 31.4
7,576 7,497
5,729
Total 90.5 15.8 39.3%
2,167
IPO 2006 2007 2009 1H10 Net Actual 1H10
Launches Acquisitions
Gafisa Alphaville Tenda
*Note: Tenda 2007 represents Fit + Bairro Novo
10
11. Proven Track Record of Execution
Units Under Construction Projects under Construction
49,423 49,876
188 195
33,586
85
16,099
63
2007 2008 2009 2Q10 2007 2008 2009 1H10
Units Completed Number of Engineers
971
E: 20,000 880
367
674 309
10,831 241 58 61
459
8,206 47
186
31 513 543
3,108 7,497 386
242
2007 2008 2009 1H10/2010E 2007 2008 2009 1H10
Intern Enginners Construction Architects On the Job
11
Source: Gafisa
12. Strong Brand Recognition and Solid Reputation
Gafisa benefits from its strong brand recognition and solid reputation through: (i) a
higher sales speed (VSO); (ii) commanding premium prices; and (iii) easier access to
asset swaps / partnerships
Leading Brands Strong Brands in Every Segment
Maior Construtora do Brasil: Largest Construction
1st
Company in Brazil – 2008 / 2009 (ITCnet)
► 55 years in the Real Estate industry
► Completed more than 985 developments and 11 million m 2
► Awards: Valor Top Management and Top Manager of the Year
Top of Mind – 2008 (Diário do Grande ABC /
1st
IBOPE)
► One of the best known brands in the affordable entry-level
segment
► Completed more than 500 developments
1st Reference in Urban Development
► Completed more than 40 developments and 3.4 million m 2
► Awards: Best Social Responsibility and 2009 Top Social –
Alphaville Foundation
Source: ITCnet, Revista Marketing, Valor Econômico
12
14. Launches, Contracted Sales and Revenues
High growth rates over the last years ...
Launches (R$mm) Pre-Sales (R$mm) Net Revenues (R$mm)
1
4,000 to
5,000
4,196
3,248 3,022
1,970
2,578 988
2,301 1,361
2,236
300 313 932 1,835
617 1,740 277
1,712 1,747
237 1,627
377 276 580
60
420 587 300 670 1,204 250
238 7
193 170
1,005 995
1,913 325 245 664 1,757
1,698
1,510
1,265 1,329 1,345 1,215 1,085
1,005 995 1,004
800 832 664
2006 2007 2008 2009 1H10 2006 2007 2008 2009 1H10 2006 2007 2008 2009 1H10
Note:
1 2010E guidance range announced by the Company
14
15. EBITDA, Net Income and Results to be Recognized
… aligned with sustained growth in profitability
Adjusted EBITDA1 (R$ mm) and Net Income (R$ mm) and Results to be Recognized (Backlog4)
Margin (%) Margin 2 (%) (R$ mm) and Margin (%)
18.5% to
37.5%
20.5% 3
36.4%
17.5% 10.6%
35.1% 35.2%
34.6%
9.9%
15.0% 14.9% 9.6% 1,167
604
13.4%
75 214 1,066
1,015
8.1%
6.9% 162
19.2%
300
110
41 528
530
92
352 298
259 46
180
89
2006 2007 2008 2009 1H10 2006 2007 2008 2009 1H10 2006 2007 2008 2009 1H10
Lucro Líquido (R$ mm) Margem (%) REF (R$ mm) Margem (%)
EBITDA (R$ mm) Margem (%)
Notes:
Tenda‟s goodwill net of provisions
1 Adjusted for stock options and excluding Tenda‟s goodwill net of provisions
2 Net income before minority interests and non-recurring expenses
3 2010E guidance range announced by the Company
4 Gross Profit
15
16. Solid Balance Sheet
1H10 Leverage (R$ mm) Debt Composition (R$ mm) and Rates
SFH /
Net Debt / Project 1,708 8.2% - 11.5% (TR)
45.2% Finance
Shareholders‟ Equity
Working
Capital
678 CDI + (0.7% – 4.2%)
Debentures 663 CDI + (1.5 – 3.3%)
Investor
380 CDI
Obligations
1,806
Total 3,429 10.6%
Debt Maturity Schedule 1 (%)
3,429
949
713
1,623 63% 631 606
26%
80%
99%
74% 150
37%
20% 100%
Total Debt Cash Net Debt 2011 2012 2013 2014 From 2015
Note:
Project Finance (R$ mm) Corporate Debt (R$ mm)
1 Does not include investors obligations of R$380 mm
16
17. Trading Multiples
Liquidation Value (R$mn) Blue Chips (2Q10) Emerging Companie
Company Gafisa Peer1 Peer2 Peer3 Peer4 Avg(1)
Receivables from Sold Units 7,643 9,936 11,296 5,574 4,737
(-) Taxes (516) (671) (762) (376) (320)
(-) Obligations from Sold Units (2,042) (3,009) (3,755) (1,591) (1,697)
Mkt Value of Units for Sale 2,726 3,633 1,869 1,648 2,052
(-) Taxes (184) (245) (126) (111) (139)
(-) Construction Obligations (636) (653) (229) (436) (898)
Book Value of Land 702 2,038 2,455 1,108 668
(-) Swaps booked in Advances (104) (521) (1,874) (413) (71)
(-) Payables from land acqs. (304) (407) (348) (229) (382)
Other Assets 92 287 3 39 10
(-) Other liabilities (228) - - - -
Cash and Equivalents 1,806 1,120 997 982 1,466
(-) Corporate Debt (1,721) (1,953) (1,192) (1,023) (1,061)
(-) SFH and other Project Finance (1,708) (1,757) (1,578) (409) (1,085)
(-) Minority Shareholders (79) (114) (345) (189) -
(+) Invest. in Subsidiaries 195 144 13 - 2
Liquidation Value 5,641 7,828 6,424 4,574 3,282
BV Adjusted 4,652 7,524 5,811 3,902 2,982
BV 3,638 5,843 4,205 2,702 2,465
Deferred Income 1,068 1,708 1,712 1,261 517
Deferred Revenues 3,209 5,059 5,642 3,058 2,374
Deferred Costs and Expenses (2,042) (3,009) (3,755) (1,591) (1,697)
Taxes (over Sales and Income) (99) (341) (175) (206) (160)
Avg Stake 95% 98% 94% 95% 100%
P/LV 0.95 1.34 1.55 1.58 1.32 1.45
P/BVAdj 1.15 1.39 1.71 1.86 1.45 1.60
P/BV 1.47 1.79 2.37 2.68 1.76 2.15
Market Cap 5,352 10,459 9,966 7,241 4,335
# of shares 437 571 426 490 269
Closing price (August 17th) 12.2 18.3 23.4 14.8 16.1
*Source: Barclays Capital Research and Companies' Information / (1) Excluding Gafisa
17
18. Gafisa‟s Differentiation
Industry Leading Liquidity and Corporate
Governance
Multifaceted Residential Products in All Income
Segments
National Footprint
Proven Track Record of Execution
Strong Brand Recognition and Solid Reputation
18
20. Tenda: Differentiated Platform for the Affordable Entry-
Level Segment
Through Tenda, Gafisa has a differentiated and developed platform to capture growth
in the affordable entry-level segment
Innovative Building Technology: Higher
Sales Standardized Construction Process
ROE and Lower Cash Requirement
Centrally located and well diversified Standard
portfolio
Month 1 - 6 Month 7 - 19 Month 20
Duo Tower
Super 6
S
Garden Life
1 2-4 6
► Hybrid construction model with in-house Launch Construction Delivery
► Well-trained and dedicated sales force
and outsourced construction capabilities
helps clients with home purchasing and
financing decisions Down Payment Requirements
► Standardized materials
► Sales force located in areas with constant Down During
Financed
Payment Construct.
flow of people ► 4 project options in each production line
Super 6 6% - 94%
► High variety of products and branch Standard 3% 17% 80%
locations to best meet client needs ► Economies of Scale
20
21. Aluminium Mold Construction Technology
Tenda: Valle Verde Cotia, SP
► Construction cycle reduced from 12 to 4 months;
► Standardized projects;
► Less labor intensive;
► Less exposure to inflationary pressure during
construction period.
21
22. Alphaville: Differentiated Business for Residential Land
Communities
Alphaville Concept Steady Growth
Leisure
Residential Area Launches (R$ mm)
Area
420
312 325
Residential
Area
237
111
2006 2007 2008 2009 1H10
Alphaville
Commercial Area Club Commercial
Residential
Area
Multi-family
Area Pre-Sales (R$ mm) and VSO (%)
Areas
59%
Sustainable Business Model
59% 377 41%
60%
► Partnership contracts via land swaps 300
n.a. 238 245
► Construction only after pre-sales
► High sales velocity 140
► Alphaville Foundation enables sustainable integration with
the surrounding communities
2006 2007 2008 2009 1H10
22
24. Growing Credit Availability
In recent years, the credit supply for real estate financing has increased substantially
with lower interest rates and longer tenors
Interest Rates vs. Housing Financing
A favorable growth trend for credit availability began in
35% 120
2005, when the annual Selic was close to 20%;
30% 100
25%
80 In 2008 the Central Bank increased the Selic from
20%
60 11.25% to 13.75% without any impact on home financing;
15%
40
10%
5% 20 According to the Central Bank, the market is expecting
0% 0 a Selic of 11.00% by the end of 2010.
Dec-02 Apr-04 Sep-05 Feb-07 Apr-08 Apr-09 Mar-10
Selic (%a.a.) Real Estate Financing (R$ billion)
Real Estate Financing – Amount Funded (R$ bn) Housing Financing vs. GDP1
75 101%
83%
24
50
40
16
25 10
15 7 51 18%
10 34 13%
6 6 30 3%
4 18
3
3 6 9
2004 2005 2006 2007 2008 2009 2010E Denmark UK Chile Mexico Brazil
SBPE FGTS
Source: Central Bank, IBGE and ABECIP
Brazil: high growth potential for home financing
1. Data from 2006. For Brazil, consider data from 2009
24
25. Government Programs – MCMV I
Government programs were created to reduce the significant housing deficit in the lower
income segments
Highlights Simulation of Potential Impact on Market Size
► Financing for one million houses with up to Average Unit Price: “Minha Casa, Minha
Before
R$23,000 in subsidies to families with income of R$80k Vida” Program
up to 10x the monthly minimum wage (R$4,650)
Subsidy 0 16,000
► R$34 billion in subsidies (Federal Government, Mortgage 80,000 64,000
FGTS, BNDES)
Cost (TR+) 7% 5%
► Financing of homes with a price range of
Monthly installments 665 394
R$80,000 to R$130,000
Minimum monthly income 2,661 1,969
► Interest Rates ranging from TR+5% – TR+8%
Equivalent of minimum wages 6.4 4.2
► Homebuilders can finance 100% of the property
value Market Size
(millions of homes) 13.4 23.4
► No down payment and no installments during the
construction period (for families with income up to
3x the minimum wage) Additional market of approx. 10 million houses
Source: Market Reports
25
26. Government Programs – MCMV II
Government renewed MCMV program, giving more visibility to the Real Estate sector:
Highlights Income distribution
► MCMV II income distribution followed the same
distribution of the contracted units from MCMV I:
► Financing for two million houses up to 2014;
► R$72 billion in subsidies;
# of units: 1 million 330,191 2 million
► Continued growth for the next 3 years already 11% 10%
20%
committed; 30%
29%
40%
► General details to come up to 90 days after the
announcement;
60% 60%
40%
► It confirms the government commitment to
provide financing for entry level homebuyers.
MCMV I - target MCMV I - up to March MCMV II - target
1st/2010
0-3 MW 3-6 MW 6-10 MW
Source: CS, UBS, CEF, Market reports
26
27. Efficiency Gains under “MCMV” Program
Tenda contracted 15,129 units through April and has close to 17,000 units under CEF
analysis
Contracted Units in the "MCMV" I
Minimum Wages Caixa Econômica Fereral(1)
0 - 3 MW 250,333
3- 10 MW 251,167
TOTAL 501,500
(1) Until June 23 rd , 2010 for CEF . Breakdown between 0-3 and 3-10 based on the % from April 13th.
Pipeline
Period To be contracted(2) Contracted % MCMV TOTAL
2009 - 6,102 74% 6,102
1Q10 - 2,788 88% 2,788
2Q10 17,411 6,239 78% 23,650
TOTAL 17,411 15,129 78% 32,540
(2) Units being contracted in 2010 and already filed with CEF untill Jun 2010.
Transferred
Period Units % MCMV
2009 5,114 48%
1Q10 1,898 81%
2Q10 2,515 89%
TOTAL 9,527 65%
27
28. CEF Real Estate Financing
Caixa Econômica Federal has reached historical records of real estate financing, and
is responsible for 73% of the market contracts
Housing Financing Contracts (R$ bn) CEF vs. Market – Financing of New Units („000 units)
897 143
503
503 515 47 312
425 443 267 276
326 223 226
251 31 167
92
23 132 47
118
13 15
9 29 38 187 226
5 6 55 177 176 145
88 94 39
17
2003 2004 2005 2006 2007 2008 2009 Up to 2003 2004 2005 2006 2007 2008 2009 23-Jun
June 10
Financing (R$ bn) Financing Amount ('000) Caixa - Others Caixa - MCMV Market
2010 Contracts: Units („000) and Projects Inventory of Received Proposals („000 units)
Projects 3,966
Projects 738 3,149
397 814
255 240 2,815
145 2,325
656 140
188 1,868 576
114 193
17 1,402 478 104
42 364 149
885 91 137
96
495 256 78 120
60 10 262
135 147 66 95 481
130 33 37 334 394
27 8 75 69 267
22 7 39 191
8 53 26 44 121
8 12 30 4 26 64
2Q09 3Q09 4Q09 1Q10 Apr-10 abr/09 mai/09 jun/09 jul/09 ago/09 set/09 out/09 nov/09 dez/09 abr/10
0 a 3 SM 3 a 6 SM 6 a 10 SM Total
0 a 3 SM 3 a 6 SM 6 a 10 SM Total
Source: Caixa Econômica Federal
28