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
Gafisa reported strong financial results for the first quarter of 2008, with consolidated launches increasing 91% year-over-year, pre-sales up 97% quarter-over-quarter, and net operating revenues rising 42% quarter-over-quarter. Net income increased to R$42 million in 1Q08 compared to the adjusted net income of R$21 million in 1Q07. Gafisa also expanded into two new markets, upgraded its credit rating, and saw continued growth in the mortgage lending market in Brazil. Looking ahead, Gafisa is well positioned for further growth and has a diversified land bank to support its expansion plans.
This document 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.
This document summarizes Braskem's 4th quarter 2006 earnings conference call. It highlights strong domestic demand growth for resins in 2006. Braskem achieved record gross revenues of $7 billion, an 8% increase over 2005. The acquisition of Politeno was completed and synergies were confirmed. EBITDA grew significantly in the 4th quarter to R$530 million due to decreasing raw material costs. Net income turned positive in the 4th quarter. Braskem invested over R$700 million in 2006 and expects investments of R$550 million in 2007, including the start of a new PP plant. Global resin supply and demand is expected to remain balanced in 2007 with sustained prices.
IBM's strategy focuses on shifting to higher value segments of the IT industry through global integration, productivity improvements, and investing in growth markets and technologies. This transformation has driven margin expansion and allowed IBM to invest in the future while providing returns to shareholders. IBM is well ahead of its goal to achieve $10-11 EPS by 2010 through revenue growth, continued margin gains, and share repurchases. The company will focus on growth markets, acquisitions, technology leadership, and new initiatives to sustain long-term performance.
Raytheon Reports 2006 Third Quarter Resultsfinance12
The document provides an earnings summary and outlook for Q3 2006 and full year 2006-2007. It summarizes that earnings per share increased 41% in Q3 2006, bookings remained strong, and guidance was increased for EPS, bookings, operating cash flow and ROIC. The summary also mentions that net debt declined to its lowest point in over 11 years and over 5.5 million shares were repurchased in the quarter.
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%.
The document summarizes Walgreens' third quarter 2008 conference call. It discusses Walgreens' record sales and earnings in Q3 2008, additions to senior management, and the company's strategies to broaden access to healthcare services while driving growth. Key highlights include strong prescription sales, cost control of selling and administrative expenses, and plans to expand into specialty pharmacy and worksite health clinics.
This document summarizes Arrow Electronics' second quarter 2008 earnings call. Key points include:
- Sales and earnings exceeded expectations for both Global Components and Global Enterprise Computing Solutions segments.
- Asia Pacific components sales grew 32% year-over-year with strong performance in China, Taiwan and other markets.
- Enterprise Computing Solutions achieved industry-leading operating margins and completed a major ERP system migration.
- Overall results were strong despite cautious macroeconomic conditions globally.
Gafisa reported strong financial results for the first quarter of 2008, with consolidated launches increasing 91% year-over-year, pre-sales up 97% quarter-over-quarter, and net operating revenues rising 42% quarter-over-quarter. Net income increased to R$42 million in 1Q08 compared to the adjusted net income of R$21 million in 1Q07. Gafisa also expanded into two new markets, upgraded its credit rating, and saw continued growth in the mortgage lending market in Brazil. Looking ahead, Gafisa is well positioned for further growth and has a diversified land bank to support its expansion plans.
This document 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.
This document summarizes Braskem's 4th quarter 2006 earnings conference call. It highlights strong domestic demand growth for resins in 2006. Braskem achieved record gross revenues of $7 billion, an 8% increase over 2005. The acquisition of Politeno was completed and synergies were confirmed. EBITDA grew significantly in the 4th quarter to R$530 million due to decreasing raw material costs. Net income turned positive in the 4th quarter. Braskem invested over R$700 million in 2006 and expects investments of R$550 million in 2007, including the start of a new PP plant. Global resin supply and demand is expected to remain balanced in 2007 with sustained prices.
IBM's strategy focuses on shifting to higher value segments of the IT industry through global integration, productivity improvements, and investing in growth markets and technologies. This transformation has driven margin expansion and allowed IBM to invest in the future while providing returns to shareholders. IBM is well ahead of its goal to achieve $10-11 EPS by 2010 through revenue growth, continued margin gains, and share repurchases. The company will focus on growth markets, acquisitions, technology leadership, and new initiatives to sustain long-term performance.
Raytheon Reports 2006 Third Quarter Resultsfinance12
The document provides an earnings summary and outlook for Q3 2006 and full year 2006-2007. It summarizes that earnings per share increased 41% in Q3 2006, bookings remained strong, and guidance was increased for EPS, bookings, operating cash flow and ROIC. The summary also mentions that net debt declined to its lowest point in over 11 years and over 5.5 million shares were repurchased in the quarter.
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%.
The document summarizes Walgreens' third quarter 2008 conference call. It discusses Walgreens' record sales and earnings in Q3 2008, additions to senior management, and the company's strategies to broaden access to healthcare services while driving growth. Key highlights include strong prescription sales, cost control of selling and administrative expenses, and plans to expand into specialty pharmacy and worksite health clinics.
This document summarizes Arrow Electronics' second quarter 2008 earnings call. Key points include:
- Sales and earnings exceeded expectations for both Global Components and Global Enterprise Computing Solutions segments.
- Asia Pacific components sales grew 32% year-over-year with strong performance in China, Taiwan and other markets.
- Enterprise Computing Solutions achieved industry-leading operating margins and completed a major ERP system migration.
- Overall results were strong despite cautious macroeconomic conditions globally.
This document summarizes Braskem's second quarter 2007 earnings conference call. It discusses Braskem's strong financial and operating performance in the quarter. Key points include Braskem achieving a 19% EBITDA margin, completing the acquisition of Ipiranga Petroquímica assets, increasing production volumes, strengthening its market leadership position, and leveraging net income through improved operating and financial results. Braskem is highlighted as the largest petrochemical company in Latin America based on key financial figures for the last twelve months through June 30, 2007.
CSX Corporation presented at the BB&T Transportation Conference on February 15, 2006. CSX discussed its strategies of profitable growth and margin expansion through revenue impact, operational discipline, and performance culture. CSX also reviewed its financial and operational performance over the past years, and its expectations for continued double-digit growth through 2010. CSX outlined various capacity expansion projects along key corridors to support further growth in demand.
MeadWestvaco reported financial results for the fourth quarter and full year of 2007. For the full year, sales increased 6% to $6.9 billion and business segment profit rose 7% to $584 million. The company sold non-strategic forestlands, completed a $400 million share buyback, and strengthened its global packaging platform. Input costs increased significantly but the company implemented price increases across all major grades to offset these costs. For the fourth quarter, sales rose 4% while business segment profit declined 3% due to higher input costs and weaker demand in some segments.
walgreen Walgreen Co. First Quarter 2008 Earnings Conference finance4
The document summarizes Walgreen's first quarter 2008 conference call from December 21, 2007. It discusses Walgreen's financial highlights for the first quarter, including record sales and earnings. It also discusses strategies to improve operating efficiency through disciplined expense controls and continued organic expansion. Finally, it outlines Walgreen's strategy to strengthen its market leadership and deliver sustainable shareholder value through aggressive store expansion, healthcare service extensions, and value-creating acquisitions.
This document contains the summary of Braskem's 1Q11 conference call with investors. It reports that Braskem's 1Q11 revenue grew 6% year-over-year in Brazilian real terms due to higher prices, though EBITDA was impacted by a power outage. Braskem remains committed to financial strength as seen by credit rating upgrades to investment grade. Synergies from the Quattor acquisition totaled R$75 million in 1Q11. Braskem's outlook remains positive due to emerging market demand, though oversupply and volatility remain challenges in the short-term. Priorities include growing the Brazilian petrochemical chain and capturing synergies from recent acquisitions.
ean Lobey Executive Vice President, Safety, Security and Protection Service B...finance10
Jean Lobey discusses 3M's Safety, Security, and Protection Services (SS&PS) business. In 2005, SS&PS generated $2.3 billion in sales and $553 million in operating income. SS&PS provides solutions across three markets: safety, security, and protection. 3M aims to drive over 8% annual growth for SS&PS through new product development, market expansion, adjacent market opportunities, and responding to world events. 3M is also focusing on penetrating developing markets and bringing SS&PS closer to customers through increased international manufacturing and labs.
CapitaLand is embarking on the next phase of growth by focusing on organic growth in its core markets of China, Singapore, Australia, and Vietnam. It will balance its exposure across real estate business units and increase the scale of its businesses over time through disciplined and prudent capital management. Key strategies include growing its China and Vietnam businesses, extending its leadership in Pan-Asian shopping malls through the listing of CapitaMalls Asia, and seeking opportunities in Singapore residential and financial services.
Braskem reported its 1Q08 results, with net revenue remaining flat at R$4.4 billion compared to 1Q07. EBITDA declined 32% to R$583 million due to higher raw material costs, while net income fell 35% to R$83 million. Operational highlights included a record quarterly PVC production of 130,000 tons and growth in domestic resin sales. Braskem also concluded strategic steps like the acquisition of Ipiranga Group's petrochemical assets. For 2008, Braskem expects continued domestic market growth and productivity gains from recent investments.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
Colgate achieved record financial results in 2001, with sales growth of 0.7%, earnings per share growth of 11%, and return on capital reaching a new high of 29.7%. Every operating division contributed to strong 5% volume growth. Colgate continues to focus on speeding innovative new products to market globally in order to drive growth, with a record 39% of sales coming from products launched in the past five years. Speed and efficiency in new product development and global rollout is a key competitive advantage for Colgate.
CPFL Energia is a leading private electricity company in Brazil. In the first nine months of 2004, it had net revenues of over R$5 billion and EBITDA of R$1.1 billion. It operates in distribution, commercialization, and generation of electricity, with distribution making up the largest portion of its EBITDA. CPFL Energia is focusing on reducing debt levels and increasing investments in generation projects to drive future growth.
Terry Crews, Chief Financial Officer of Bank of America, presented at the 38th Annual Investment Conference on September 16, 2008. The presentation discussed Monsanto's growth opportunity in agricultural productivity through increased demand for yield and innovation to meet that demand. Monsanto aims to double its gross profit from 2007 to 2012 through expanding its seed footprint and introducing valuable biotech traits. Corn seeds and traits were highlighted as demonstrating strong financial growth and momentum through increased market share and trait penetration.
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 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.
Apresentação - Estratégia Rossi para o Segmento Econômico 2009/2010RiRossi
O documento apresenta a estratégia da Rossi para o segmento econômico em 2009/2010, com foco no público-alvo de classes C, D e E. A estratégia inclui o desenvolvimento de produtos em larga escala, atendimento regionalizado e parcerias locais, além de linhas de financiamento alinhadas aos incentivos do governo para estimular o mercado imobiliário de baixa renda.
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 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 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.
-
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 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 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 hosted an earnings call to discuss its strong third quarter 2007 results. Key highlights included a 119% increase in launches, 56% growth in pre-sales, and a 91% rise in net operating revenues compared to the prior year quarter. EBITDA increased 61% and net income grew 12%. The company also provided an outlook of R$1.9 billion in launches for 2007 and a target of R$3 billion for 2008, reflecting continued aggressive growth in its operations across multiple regions in Brazil.
This document summarizes Braskem's second quarter 2007 earnings conference call. It discusses Braskem's strong financial and operating performance in the quarter. Key points include Braskem achieving a 19% EBITDA margin, completing the acquisition of Ipiranga Petroquímica assets, increasing production volumes, strengthening its market leadership position, and leveraging net income through improved operating and financial results. Braskem is highlighted as the largest petrochemical company in Latin America based on key financial figures for the last twelve months through June 30, 2007.
CSX Corporation presented at the BB&T Transportation Conference on February 15, 2006. CSX discussed its strategies of profitable growth and margin expansion through revenue impact, operational discipline, and performance culture. CSX also reviewed its financial and operational performance over the past years, and its expectations for continued double-digit growth through 2010. CSX outlined various capacity expansion projects along key corridors to support further growth in demand.
MeadWestvaco reported financial results for the fourth quarter and full year of 2007. For the full year, sales increased 6% to $6.9 billion and business segment profit rose 7% to $584 million. The company sold non-strategic forestlands, completed a $400 million share buyback, and strengthened its global packaging platform. Input costs increased significantly but the company implemented price increases across all major grades to offset these costs. For the fourth quarter, sales rose 4% while business segment profit declined 3% due to higher input costs and weaker demand in some segments.
walgreen Walgreen Co. First Quarter 2008 Earnings Conference finance4
The document summarizes Walgreen's first quarter 2008 conference call from December 21, 2007. It discusses Walgreen's financial highlights for the first quarter, including record sales and earnings. It also discusses strategies to improve operating efficiency through disciplined expense controls and continued organic expansion. Finally, it outlines Walgreen's strategy to strengthen its market leadership and deliver sustainable shareholder value through aggressive store expansion, healthcare service extensions, and value-creating acquisitions.
This document contains the summary of Braskem's 1Q11 conference call with investors. It reports that Braskem's 1Q11 revenue grew 6% year-over-year in Brazilian real terms due to higher prices, though EBITDA was impacted by a power outage. Braskem remains committed to financial strength as seen by credit rating upgrades to investment grade. Synergies from the Quattor acquisition totaled R$75 million in 1Q11. Braskem's outlook remains positive due to emerging market demand, though oversupply and volatility remain challenges in the short-term. Priorities include growing the Brazilian petrochemical chain and capturing synergies from recent acquisitions.
ean Lobey Executive Vice President, Safety, Security and Protection Service B...finance10
Jean Lobey discusses 3M's Safety, Security, and Protection Services (SS&PS) business. In 2005, SS&PS generated $2.3 billion in sales and $553 million in operating income. SS&PS provides solutions across three markets: safety, security, and protection. 3M aims to drive over 8% annual growth for SS&PS through new product development, market expansion, adjacent market opportunities, and responding to world events. 3M is also focusing on penetrating developing markets and bringing SS&PS closer to customers through increased international manufacturing and labs.
CapitaLand is embarking on the next phase of growth by focusing on organic growth in its core markets of China, Singapore, Australia, and Vietnam. It will balance its exposure across real estate business units and increase the scale of its businesses over time through disciplined and prudent capital management. Key strategies include growing its China and Vietnam businesses, extending its leadership in Pan-Asian shopping malls through the listing of CapitaMalls Asia, and seeking opportunities in Singapore residential and financial services.
Braskem reported its 1Q08 results, with net revenue remaining flat at R$4.4 billion compared to 1Q07. EBITDA declined 32% to R$583 million due to higher raw material costs, while net income fell 35% to R$83 million. Operational highlights included a record quarterly PVC production of 130,000 tons and growth in domestic resin sales. Braskem also concluded strategic steps like the acquisition of Ipiranga Group's petrochemical assets. For 2008, Braskem expects continued domestic market growth and productivity gains from recent investments.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
Colgate achieved record financial results in 2001, with sales growth of 0.7%, earnings per share growth of 11%, and return on capital reaching a new high of 29.7%. Every operating division contributed to strong 5% volume growth. Colgate continues to focus on speeding innovative new products to market globally in order to drive growth, with a record 39% of sales coming from products launched in the past five years. Speed and efficiency in new product development and global rollout is a key competitive advantage for Colgate.
CPFL Energia is a leading private electricity company in Brazil. In the first nine months of 2004, it had net revenues of over R$5 billion and EBITDA of R$1.1 billion. It operates in distribution, commercialization, and generation of electricity, with distribution making up the largest portion of its EBITDA. CPFL Energia is focusing on reducing debt levels and increasing investments in generation projects to drive future growth.
Terry Crews, Chief Financial Officer of Bank of America, presented at the 38th Annual Investment Conference on September 16, 2008. The presentation discussed Monsanto's growth opportunity in agricultural productivity through increased demand for yield and innovation to meet that demand. Monsanto aims to double its gross profit from 2007 to 2012 through expanding its seed footprint and introducing valuable biotech traits. Corn seeds and traits were highlighted as demonstrating strong financial growth and momentum through increased market share and trait penetration.
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 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.
Apresentação - Estratégia Rossi para o Segmento Econômico 2009/2010RiRossi
O documento apresenta a estratégia da Rossi para o segmento econômico em 2009/2010, com foco no público-alvo de classes C, D e E. A estratégia inclui o desenvolvimento de produtos em larga escala, atendimento regionalizado e parcerias locais, além de linhas de financiamento alinhadas aos incentivos do governo para estimular o mercado imobiliário de baixa renda.
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 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 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.
-
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 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 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 hosted an earnings call to discuss its strong third quarter 2007 results. Key highlights included a 119% increase in launches, 56% growth in pre-sales, and a 91% rise in net operating revenues compared to the prior year quarter. EBITDA increased 61% and net income grew 12%. The company also provided an outlook of R$1.9 billion in launches for 2007 and a target of R$3 billion for 2008, reflecting continued aggressive growth in its operations across multiple regions in Brazil.
Wilson Amaral, CEO, provided an overview of Gafisa's performance in 2Q07. Key highlights included:
- Launches increased 72% YoY to R$470.7 million and pre-sales increased 50% YoY to R$342.8 million.
- Net operating revenues rose 75% YoY to R$266.5 million. EBITDA reached R$38.4 million, a 90% increase YoY.
- The backlog margin in 2Q07 was 38.1%, with results to be recognized reaching R$418.8 million, a 75% increase over 2Q06.
- Gafisa launched several new products and expanded into new markets
The document summarizes Ideiasnet's 3Q08 financial results. Key highlights include:
- Net revenue grew 17.7% to R$231.4 million in 3Q08 compared to 3Q07.
- EBITDA grew 64% to R$7.4 million in 3Q08 compared to 3Q07.
- The company invested R$10.1 million in its portfolio companies in 3Q08, including Bolsa de Mulher, Spring Wireless, and Automatos.
- At the end of 3Q08, Ideiasnet had a net credit position of R$2.6 million after being in a net debt position previously.
1. Multiplus saw significant increases in points issued and redeemed in 1Q11 compared to 1Q10 and 4Q10, while breakage rates remained stable.
2. Financial highlights included a 47.6% increase in gross billings and a 493.3% increase in net revenue compared to 1Q10. Adjusted EBITDA grew 54.6% versus 1Q10.
3. Net income increased 847.8% year-over-year to R$70.9 million, with margins of 29.3%, as Multiplus continued expanding its coalition partnerships network.
Pivotal: Madison & Wall The Temperature of Online Advertising September 28, 2012Brian Crotty
This document provides an analysis of current conditions in the online advertising industry based on the author's recent outreach to industry contacts. It finds that Google remains very strong, Facebook is experiencing some moderation, and Yahoo remains weak. It also finds that real-time bidding/exchanges and online video are growing areas, while large brands have cooling interest in mobile advertising. Financial and operating metrics are provided for several companies in the online advertising space.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that has delivered consistent 20% annual growth. It provides financing to "non-prime" credit customers through over 1,600 dealer partnerships across Canada. Carfinco has refined credit risk management practices and vertically integrated operations that have supported strong and growing financial returns, including impressive annual returns on equity of over 50%. The leadership team emphasizes continued growth and maintaining dividend payments.
This presentation includes forward-looking statements about the company's future performance that are subject to risks and uncertainties. It summarizes the company's financial and operational highlights for 2007. Net income increased 11.6% over 2006. Consolidated EBITDA reached R$1,123 million, growing 4.6% over 2006. Generation segment EBITDA grew significantly due to increased capacity from new plants coming online. Distributed energy volumes grew 4.5% while manageable costs grew less than inflation.
JBS reported its first quarter 2009 results. Net revenue increased 58.2% year-over-year to R$9.27 billion. Consolidated EBITDA grew 20.4% to R$211.5 million. Key highlights included sustained margins in the US beef business, improved performance in Brazil, and consolidation of a global production and distribution platform. Management remains focused on reducing debt and capturing synergies across the business.
This document summarizes Braskem's 4th quarter 2006 earnings conference call. It highlights strong domestic demand growth for resins in 2006. Braskem achieved record gross revenues of $7 billion, an 8% increase over 2005. The acquisition of Politeno was completed and synergies were confirmed. EBITDA grew significantly in the 4th quarter to R$530 million due to decreasing raw material costs. Investments totaled over R$700 million in 2006 and outlook for 2007 includes sustained resin prices and lower expected oil prices. The PP project in Paulinia is on track to start in 1Q08.
Localiza reported strong financial results for the first quarter of 2007, with net income increasing 53.4% compared to the first quarter of 2006. EBITDA from car rentals increased 14.9 million or 30% due to growth in revenue and margins. Overall market share increased to 20.5% as Localiza grew revenues at a rate 2.9 times faster than the overall car rental market between 2004-2006. Cash generation was robust at R$228.5 million after adjusting for a reduction in debt from automakers. Fleet size continued to grow significantly with a net investment of R$242 million and over 10,000 additional cars.
Vivo Participações S/A reported financial results for 2006-2007. Revenue grew 14.2% to R$12.5 billion in 2007. EBITDA increased 20.7% to R$3.1 billion and EBIT grew 219.7% to R$600 million. The company achieved market leadership in its operational area and nationwide commercial campaigns. Key initiatives included strengthening the brand, acquiring additional spectrum, and improving customer and employee satisfaction.
Third Quarter 2007 results:
- Embraer delivered 47 jets in 3Q07 bringing total deliveries for the year to 108 jets.
- Net revenues increased to $1.4 billion in 3Q07, with a gross margin of 21.8%.
- Net income was $195 million in 3Q07, with a net margin of 13.6%.
- Backlog reached a record high of $17.2 billion at the end of 3Q07.
This document summarizes Multiplus S.A.'s earnings results for the second quarter of 2012. It highlights 29% growth in points issued compared to the second quarter of 2011. Cash generation was R$131 million in Q2 2012. Non-air redemptions grew 279% versus the same period last year. Multiplus saw continued growth in members and partners, reaching over 10.1 million members and 207 partners. Solid gross billings growth of R$457.1 million was achieved despite an unfocused macroeconomic environment. Net income was R$43.3 million and free cash flow was R$131.4 million.
OHL Brasil reported strong financial results for 4Q07 and full year 2007. Traffic grew 8.8% in 4Q07 and 8.6% for the full year. Net revenue increased 16.1% in 4Q07 and 13.1% for 2007. Adjusted EBITDA rose 19.6% in 4Q07 and 15.7% for the full year. The company also reduced its debt and extended the maturity while maintaining low leverage. With the addition of over 2,000 km of highways from a recent auction, OHL Brasil has increased its market share to 26% of Brazil's toll roads and expanded its operations across key economic regions.
Profarma's market share reached a record high of 12.8% in 4Q07, up from 9.6% in 2006. Consolidated gross revenue grew 40.1% compared to 4Q06, reaching R$740.4 million. Adjusted EBITDA was R$26.2 million, a 35.3% increase over 4Q06. New regions showed strong growth, with revenues of R$75 million, up 34.6% over 3Q07. The company reduced errors per million units shipped by 34.5% between 3Q07 and 4Q07.
Profarma's market share reached a record high of 12.8% in 4Q07, up from 9.6% in 2006. Consolidated gross revenue grew 40.1% compared to 4Q06, reaching R$740.4 million. Adjusted EBITDA was R$26.2 million, a 35.3% increase over 4Q06. New regions showed strong growth, with revenues of R$75 million, up 34.6% over 3Q07. The company's cash cycle improved to 64.3 days.
110212 divulgação de resultados 4 t10 inglesMultiplus
1) Multiplus saw increases in points issued and redeemed in 4Q10 compared to 3Q10, along with higher gross billings.
2) They improved their breakage accounting methodology to better reflect a 12-month average ratio, lowering breakage liability and raising deferred revenue.
3) While points issued and gross billings grew, adjusted EBITDA declined in 4Q10 due to the breakage methodology change and higher points to be redeemed.
The Philippine economy is expected to continue strong growth in the coming years, driven by robust consumer spending, increased investment, and sustained government spending. Inflation will remain low and interest rates are expected to stay at current levels, supporting economic activity. The current account surplus and prudent fiscal management have improved the country's credit ratings and investment environment.
This document summarizes a conference call about a company's 4th quarter 2006 results. It includes the following key points:
1) The Brazilian credit card market grew 12.1% in 2006, while the company's card base (CSU) grew 23.1%. CSU also increased its market share leadership.
2) CSU is set to start generating monthly revenues in May 2007 from its largest ever contract to process over 4 million credit cards for Caixa, Brazil's largest bank.
3) CSU's gross revenues grew 5.6% in 2006. Its CardSystem unit grew revenues 7.2% but had lower profit margins due to non-recurring revenues in 4Q2005.
- The company reported financial results for the fourth quarter and full year of 2014.
- For the Gafisa segment, net pre-sales fell 61% year-over-year in 4Q14. Adjusted EBITDA was R$81.8 million with a 16.7% margin.
- For the Tenda segment, launches increased 173% year-over-year in 4Q14 while pre-sales fell 23%. Adjusted EBITDA was negative R$30.9 million.
- Consolidated net revenue increased 31% quarter-over-quarter. Adjusted gross profit rose 9% and adjusted gross margin was 30.2%.
O documento apresenta os resultados financeiros do 4T14 e do ano de 2014 para os segmentos Gafisa e Tenda. No segmento Gafisa, as vendas contratadas totalizaram R$177 milhões no 4T14 e R$811 milhões no ano. O lucro líquido foi de R$36,8 milhões no trimestre. No segmento Tenda, as vendas contratadas foram de R$126,6 milhões no trimestre, enquanto o prejuízo líquido foi de R$28,8 milhões. O documento também discute o desempen
The document outlines Gafisa's investor day agenda, which includes presentations on Gafisa and Tenda's strategy, operations, and financial performance. It also provides an overview of Gafisa's history and strategic repositioning over time to focus on core markets in Sao Paulo and Rio de Janeiro. Gafisa has implemented improvements to streamline operations and reduce costs, improving financial results with stable operating margins and profitability expected to continue at current levels based on backlog revenues and margins.
O documento apresenta as informações para o Investor Day da Gafisa realizado em 04 de dezembro de 2014. Nele, a empresa faz declarações prospectivas sobre seus negócios que estão sujeitas a riscos e incertezas. A agenda do evento inclui apresentações sobre a estratégia e desempenho operacional e financeiro da Gafisa e de sua subsidiária Tenda.
- In 3Q14, the company's launches totaled R$510 million, up 142% year-over-year. Net pre-sales were R$230 million, down 32% year-over-year.
- Adjusted gross profit was R$179.9 million with a margin of 36.4%, up 200 basis points from the prior year. Adjusted EBITDA was R$73.5 million with a margin of 14.9%, down 750 basis points from the prior year.
- Net loss was R$10 million compared to net income of R$15.8 million in 3Q13, impacted by lower pre-sales and margins in the Tenda segment.
O documento apresenta os resultados financeiros da Gafisa e Tenda no 3T14 e nos primeiros 9 meses de 2014. A Gafisa teve aumento nos lançamentos e vendas contratadas, além de melhora nas margens. A Tenda reduziu prejuízos com foco no novo modelo de negócios, apesar de queda nas vendas. Ambas as empresas tiveram redução de custos.
The document summarizes the company's 1Q14 results conference call. It discusses positive operational and financial results for both the Gafisa and Tenda segments. Gafisa saw increases in launches, pre-sales, gross profit and EBITDA. Tenda's launches and pre-sales also increased significantly year-over-year, though it continues to have negative EBITDA. The company has a net debt to equity ratio of 1.26x and generated cash of R$20.5 million in 1Q14. Management provided updates on recent events including the shareholder meeting, dividend program, and preliminary studies on separating the Gafisa and Tenda business units.
Este documento apresenta os resultados da empresa no primeiro trimestre de 2014. Os principais pontos são: (1) Lançamentos totais de R$535 milhões, aumento de 172% em relação ao mesmo período do ano anterior. (2) Vendas contratadas totais de R$239 milhões, aumento de 122% na comparação anual. (3) Lucro bruto ajustado de R$132 milhões e margem bruta ajustada de 30,5%.
- Consolidated launches totaled R$1.6 billion in 4Q13, up 224.9% quarter-over-quarter and 8.7% year-over-year. Consolidated pre-sales reached R$1.3 billion in 4Q13 and R$2.5 billion in 2013.
- Net income for 4Q13 was R$921.3 million and R$867.4 million for 2013. Operating cash generation was R$667.7 million in 2013, resulting in positive free cash flow of R$97.3 million.
- Guidance for 2014 includes consolidated launches of R$2.1-2.5 billion and leverage of 55-65%.
- Company reported financial results for 4Q13 and full year 2013, with consolidated launches totaling R$1.6 billion for 4Q13, up 224.9% quarter-over-quarter.
- Adjusted EBITDA was R$978.9 million for 4Q13 and R$1.3 billion for 2013, reflecting contributions from the Alphaville transaction.
- Net income was R$921.3 million for 4Q13 and R$867.4 million for 2013.
1) O documento apresenta os resultados financeiros e operacionais da empresa no 4T13 e no ano de 2013, destacando o crescimento dos lançamentos, vendas e lucro operacional.
2) Também discute eventos recentes como a venda de participação na AUSA, programa de recompra de ações, e proposta de separação das unidades de negócio.
3) Fornece detalhes do balanço patrimonial pós-transação e status dos turnarounds dos segmentos Gafisa e Tenda.
O documento apresenta o planejamento da Gafisa para o Investor Day de 18 de dezembro de 2013, com as seguintes informações essenciais:
1) A agenda do evento inclui apresentações sobre a estratégia da Gafisa, Tenda, Alphaville, cadeia de suprimentos e finanças;
2) A empresa tem focado sua atuação nos mercados do Rio de Janeiro e São Paulo e reduzido a complexidade das operações;
3) A Gafisa tem concentrado seu banco de terrenos em projetos de médio
Gafisa outlined its strategic positioning to focus operations on the Rio de Janeiro and Sao Paulo markets, establish profit and loss responsibility by brand and region, and allocate capital to the Alphaville brand. Gafisa also discussed improvements to its construction management, cost control, landbank profile, product segmentation, and customer relations to support its strategic goals of cash generation and adapting its capital structure for profitable growth.
Gafisa reported financial and operating results for 3Q13. Key highlights included:
- Launches totaled R$498 million in 3Q13, up 8.1% q-o-q and 10.3% y-o-y.
- Consolidated pre-sales reached R$1.2 billion in 9M13.
- Net income was R$15.8 million in 3Q13, reversing a net loss in 2Q13.
- Positive free cash flow of R$32.1 million in 3Q13, compared to a cash burn in 2Q13.
A presentação 3 t13 - port - v0511_v2 (1)Gafisa RI !
O documento apresenta os resultados financeiros da empresa no 3T13. Os principais destaques são: (1) lucro líquido de R$15,8 milhões no trimestre revertendo prejuízo anterior; (2) geração de caixa positiva de R$32,1 milhões; (3) evolução da margem bruta. A empresa também fornece atualizações sobre a transação da Alphaville e perspectivas para 2013.
O documento apresenta os resultados financeiros da empresa no 2T13, destacando:
1) A venda de uma participação de 70% na Alphaville por R$2,01 bilhões, fortalecendo o caixa e reduzindo a alavancagem.
2) Melhoras nas vendas e redução gradual nos distratos, concentrando lançamentos e vendas nos mercados estratégicos de SP e RJ.
3) Retomada dos lançamentos da Tenda no fundamento, com redução do estoque legado e do ciclo financeiro.
- Gafisa reported 2Q13 results with sales exceeding launches and sequential improvement in the speed of sales.
- Gafisa entered an agreement to sell a 70% stake in Alphaville to Blackstone and Patria, generating expected proceeds of R$1.4 billion to reduce leverage.
- The sale allows shareholders to participate in long-term value through the retained 30% stake while unlocking value generated since Alphaville's acquisition.
- Gafisa S.A. signed an agreement to sell a 70% stake in Alphaville to Blackstone and Pátria, valuing the company at R$2.01 billion and generating expected gross cash proceeds of R$1.4 billion.
- The sale strengthens Gafisa's balance sheet by reducing leverage and generating long-term shareholder value. Shareholders will participate in future value creation through the retained 30% stake.
- In 2Q13, Gafisa exceeded sales over launches and saw sequential improvement in its sales velocity. Tenda's new launches are performing well and its financial cycle has halved to an average of 7 months.
- Post-
A apresentação discute os resultados financeiros da empresa no 2T13, incluindo a venda de uma participação majoritária na Alphaville para a Blackstone e Pátria. Além disso, fornece atualizações sobre o desempenho operacional dos segmentos Gafisa e Tenda e explica ajustes nas demonstrações financeiras devido à classificação de ativos da Alphaville como mantidos para venda.
O documento descreve a estratégia e histórico da Gafisa, incluindo: 1) A Gafisa focou-se inicialmente em crescimento orgânico e aquisições, mas agora prioriza oportunidades de alto retorno e disciplina financeira; 2) A venda de uma participação de 70% na Alphaville para a Blackstone e Pátria reduzirá significativamente a alavancagem da Gafisa; 3) A Tenda está relançando suas operações sob um novo modelo de negócios rentável.
1. 2007 Full Year and Fourth Quarter Results
Earnings Release and Supplemental Financial Information
Investor Relations Contact:
Duilio Calciolari
CFO and IR Officer
ir@gafisa.com.br
Parc Paradiso – Belém (PA)
1
2. Overview of 2007 and 4Q07 results - Wilson Amaral, CEO
Financial and Operational Performance
2
3. Highlights of the Year
Consolidated Launches increased 122% over 2006
Launches increased to R$2,236 million in 2007 from R$1,005 million in 2006
Pre-sales increased 63% y-o-y
Pre-sales increased to R$1,627 million in 2007 from R$995 million in 2006
Net Operating Revenues rose 77% y-o-y
Net operating revenues increased to R$1,172 million in 2007 from R$664 million in 2006
2007 EBITDA, adjusted for public offering expenses, reached R$184 million (15.7% adjusted
EBITDA margin) a 87% increase y-o-y
Net Income, adjusted for public offering expenses, increased 89%
Adjusted net income increased to R$144 million in 2007 from R$76 million in 2006
Backlog of results reached R$583 million in 4Q07
96% increase compared to the R$298 million in 4Q06, with a 4Q07 backlog margin of 38.2%
Gafisa’s land bank totaled R$10.2 billion, 15% growth over 3Q07
3
4. Highlights of the Quarter
Consolidated Launches increased 176% over 4Q06
Launches increased to R$1,036 million in 4Q07 from R$375 million in 4Q06
Pre-sales increased 75% q-o-q
Pre-sales increased to R$662 million in 4Q07 from R$379 million in 4Q06
Net Operating Revenues rose 56% q-o-q
Net operating revenues increased to R$373 million in 4Q07 from R$238 million in 4Q06
4Q07 EBITDA reached R$61 million (16.5% EBITDA margin) a 101% increase q-o-q
Net Income increased 326%
Net income increased to R$63 million in 4Q07 from R$15 million in 4Q06
Launches in 2 new markets: Volta Redonda and Rezende in the state of Rio de Janeiro
4
5. Recent Developments
Bairro Novo successfully launched its first project in 4Q07
Fit launched 10 developments since inception in March 2007 comprising 2,459
units (Gafisa’s stake) and a potential sales value of R$263 million in the states
of São Paulo, Bahia, Maranhão, Goiás and Pará
Gafisa Vendas is the main vehicle of sales for Gafisa products in the markets
were it operates, São Paulo and Rio de Janeiro
5
6. Mortgage Lending Expanding Rapidly
Strong growth in mortgage lending still does not meet pent-up demand
Housing Credit (R$ billion)
• FGTS funds can now be used to finance
CAGR (2003-2006): 40%
mortgages of up to R$245 thousand
• CEF increases mortgage tenors to 30 years.
+55% 25,3
+57%
6,9
16,3
-1% 26%
+51%
10,4
+15% 7,0
27% 98%
6,9 235
6,0 18,4
41% 5,5
3% 187
3,9 90% 9,3 131%
3,8 63%
36% 4,9
3,0 1.6
2,2 0.7
2003 2004 2005 2006 2007 2006 2007 Jan.07 Jan.08
Mortgages using resources from FGTS Mortgages using
Saving Deposits (R$mn)
Mortgages using resources from SBPE resources from SBPE
Sources: ABECIP, Central Bank of Brazil, CEF and FGV.
6
7. Increasing Commercial Mortgage Penetration
Gafisa is benefiting from higher mortgage availability and is working with banks to
develop innovative mortgage products
Sales financed by Gafisa vs financed by Banks
16%
34%
54% 20%
32%
30% 64%
34%
16%
2005 2006 2007
Gafisa direct financing longer than 36 months
Gafisa direct financing up to delivery of keys
Mortgage Loans
Reduction in accounts receivables duration, improves Gafisa’s working capital
Higher returns
Higher asset turnover
Improving terms for clients with lower rates and longer payment periods
7
8. Delivering on Growth Strategy: Strong Launches
Launches (R$ million)
New Markets
Other Rio de Janeiro
2.236
Rio de Janeiro Metropolitan Area
Other São Paulo
São Paulo Metropolitan Area
742 12% 2%
122%
11%
Gafisa
134
AlphaVille
1.036 1.005 427 Fit Residencial
Bairro Novo
368 233 157
176%
83 273
375 151 76%
64 773
69 497
401
240
4T06 4T07 2006 2007
8
9. Delivering on Growth Strategy: Strong Pre-sales
Pre-sales (R$ million)
New Markets
Other Rio de Janeiro 1,627
Rio de Janeiro Metropolitan Area
Other São Paulo 63%
541
São Paulo Metropolitan Area 3% 1%
15%
995 64
81
Gafisa
335 AlphaVille
246
662 Fit Residencial
75% 52
Bairro Novo
379 286
32 666
78 634
124
82%
253 206
4Q06 4Q07 2006 2007
9
10. One of the Most Geographically Diverse Homebuilder already
present in 18 states
118 projects under construction in 15 different states
Riviera de Ponta Negra – Manaus (AM)
*States in which Gafisa or its subsidiaries already launched projects.
10
11. Gafisa has a Diversified, High-Quality Land Bank
136 different sites, all over the country
Future Sales
Potential Units Potential Units Swap
Company %Gafisa
100% % Gafisa Agreements %
(R$ bn)
Gafisa 21,765 16,994 5,729 63%
AlphaVille 37,092 20,536 2,930 97%
Fit Residencial 13,271 10,309 973 12%
Bairro Novo 18,143 9,072 563 77%
Total 90,271 56,911 10,195 82%
11
12. Our Product Lines: Focused Management Teams for Each Market
60% owned by Gafisa 100% Gafisa 50/50 JV with Odebrecht
Mid, Mid High ang Mid High and High Affordable Entry Level Low Affordable Entry Own sales force
High Level
Horizontal (lots) Horizontal/Vertical In São Paulo and Rio de
Vertical Horizontal / Vertical Janeiro
Outside Metropolitan Metropolitan Areas and
Metropolitan areas areas Outskirts Metropolitan areas and Selling Machine
Outskirts
Financing: Banks Financing: direct Financing: CEF and Management of
Banks Financing: CEF and Channels & CRM
Unique Projects Unique Projects
Banks
Standardized Projects Management of
Unit Prices: > Unit prices: R$70K –
Standardized Projects Outsourced & Local SC
R$200K R$500K Unit Prices: R$80K –
R$200K Unit Prices: < R$100K
12
13. Our Differentials
Professional
Management
and Established
Organization
World-class
Shareholders
Industry Leadership and and the Highest
Strong Brand Standards of
Recognition Corporate
Governance
Geographic
Diversification Growth Through
Supported by Strategic Product
Land Bank Diversification
13
14. Overview of 2007 and 4Q07 results
Financial and Operational Performance – Duilio Calciolari, CFO
14
15. Interest Capitalization
Targeting the best accounting practices….
2007 2007
Consolidated Adjustment
Pre Adjustment Post Adjustment
Net Revenues 1,172 1,172
Cost of Goods Sold -785 -12 -797
Gross Profits 387 -12 ¹ 375
Gross Margin 33.0% 32.0%
EBITDA 195 -12 184
EBITDA Margin 16.7% 15.7%
Financial Result -18 33 ² 14
Taxes -24 -7³ -31
Adjusted Net Income¹ 130 14 144
Adjusted Net Margin¹ 11.1% 12.3%
Adjusted EPS¹ 1.04 1.15
…. now we recognize interest from corporate debt on a POC basis on COGS
¹ Interest recognized through the POC method
² Total interest capitalized
³ Deferred income tax effect over net adjustment 15
17. Strong Pre-Sales Positively Impact Backlog
R$583 million of results to be recognized (96% growth compared to 2006)
4Q07 3Q07 4Q06 4Q07 x 3Q07 4Q07 x 4Q06
Sales to be recognized—end of period 1,527 1,209 795 26.3% 92.0%
Cost of units sold to be recognized - end of period (943) (744) (498) 25.4% 87.0%
Backlog of Results to be recognized 583 465 298 25.4% 95.6%
Backlog Margin - yet to be recognized 38.2% 38.5% 37.5% -0.3% 0.7%
17
18. Current Revenues Come From Previous Years’ Sales
88% of the 2007 sales come from projects launched after 2006….
1,627
1.400
1,172
1.200
1.139 192
1.000
47%
88%
800 360
662
600
400 93% 373 442
583 290
107
61%
200 120
102 137
35 179
0 35 45 0 61
10
4Q07 Pre-Sales 4Q07 Revenues 2007 Pre-Sales 2007 Revenues
Launched up to 2004 Launched in 2005 Launched in 2006 Launched in 2007
… but only 47% of the 2007 revenues come from those projects
18
19. Gafisa’s Operation is Highly Efficient
We have gained productivity in terms of selling expenses…
G&A Expenses 2007 2006
Selling Expenses / Launches 3.6% 5.1%
G&A Expenses / Launches 5.1% 5.2%
SG&A / Launches 8.6% 10.3%
Selling Expenses / Sales 4.9% 5.2%
G&A Expenses / Sales 7.0% 5.2%
SG&A / Sales 11.8% 10.4%
Selling Expenses / Revenues 6.8% 7.8%
G&A Expenses / Revenues 9.6% 7.9%
SG&A / Revenues 16.4% 15.6%
Deferred selling expenses 2007 2006
Deferred Selling Expenses / Launches 1.7% 1.7%
Deferred Selling Expenses / Sales 2.3% 1.7%
Deferred Selling Expenses / Revenues 3.2% 2.6%
…Gafisa adopts one of the most conservative accounting practices in the industry
19
20. Strong Financial Position
Gafisa is prepared to deliver on its aggressive growth strategy…
4Q07 4Q06 3Q07
Short Term Debt 69 28 34
Long Term Debt 621 267 343
Total Debt 689 295 377
Cash and Cash Equivalents 514 266 372
Net Debt (Net Cash) 175 29 4
Shareholder’s Equity 1,531 814 1,493
Total Capitalization 2,220 1,110 1,870
Net Debt / Equity 11.4% 3.6% 0.3%
… with only 11% of net debt to equity ratio
20
21. Our Shares
Volume (R$ MM - LHS) Price (R$ - RHS)
500 40 Stock has highest trading volume of
35
400 30 any company in real estate sector
300 25
20 NYSE Listing: Gafisa is the only Brazilian Homebuilder to
200 15 have an ADR program
100 10
5 Stock performance
- -
Since the IPO: 79% from R$18.50 to R$33.05 (Feb 2008)
Nov-06
Oct-07
May-06
May-07
Aug-06
Sep-06
Aug-07
Sep-07
Feb-06
Apr-06
Dec-06
Feb-07
Jun-06
Mar-07
Dec-07
Feb-08
Jun-07
Jan-08
Since the Follow on: 27% from R$26.00 to R$33.05 (Feb 2008)
A verage daily vo lume in Feb.08 (R$ M M - LHS) M arket Cap (R$ M M - RHS)
100 12.000
80 10.000
8.000
60
6.000
40 4.000
20 2.000
0 -
CCDI
PDG
Gafisa
Inpar
Invest Tur
JHSF
CR2
MRV
Agra
Klabin
São
Rossi
Tenda
Trisul
Tecnisa
Brascan
Lopes
Rodobens
EZ Tec
Cyrela
Even
Abyara
Company
21
22. Outlook for 2008
Launch guidance for 2008 of R$3.0 billion
R$ 2.0 billion from Gafisa’s core business
R$ 700 million from Fit Residencial and Bairro Novo
R$ 300 million from AlphaVille
EBITDA margin guidance of 16-17% for 2008
22
23. “Safe-Harbor” Statement
We make forward-looking statements that are subject to risks and uncertainties. These statements are based on
the beliefs and assumptions of our management, and on information currently available to us. Forward-looking
statements include statements regarding our intent, belief or current expectations or that of our directors or
executive officers.
Forward-looking statements also include information concerning our possible or assumed future results of
operations, as well as statements preceded by, followed by, or that include the words ''believes,'' ''may,'' ''will,''
''continues,'' ''expects,'‘ ''anticipates,'' ''intends,'' ''plans,'' ''estimates'' or similar expressions. Forward-looking
statements are not guarantees of performance. They involve risks, uncertainties and assumptions because they
relate to future events and therefore depend on circumstances that may or may not occur. Our future results and
shareholder values may differ materially from those expressed in or suggested by these forward-looking
statements. Many of the factors that will determine these results and values are beyond our ability to control or
predict.
23
24. New Markets
Other Rio de Janeiro
Rio de Janeiro Metropolitan Area
Other São Paulo
São Paulo Metropolitan Area
742
134
427
368 233 157
83 273
773
64
401 497
240
4T06 4T07 2006 2007