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Fact Sheet 3Q11
Grupo Cyrela Brazil RealtyDEVELOPMENT AND CONSTRUCTION
JOINT VENTURES AND PARTNERSHIPS
SALES TEAM
SERVICES
PERFORMANCE
Launches (R$ million)
Sales (R$ million)
EBITDA (R$ million) and EBITDA Margin
Net Income (R$ million) and Net Margin
2Q11
2T11
3Q10
3T10
3Q11
3T11
1,654
1,668
1,359
1,025
1,757
1,449
2T11
2T11
3T10
3T10
3T11
3T11
141
96
220
176
227
147
14.5%
9.4%
18.9%
10.2%
6.9%
15.1%
ProfileCyrela Brazil Realty is one of the best residential real estate developers in the country. Over 200,000 families have chosen the steadiness and credibility of a Company that has been growing for 50 years. Cyrela is listed on BM&FBOVESPA’s Novo Mercado, thus committed with the best corporate governance practices.
At present, Cyrela has over 15,000 employees and consistently invests in its people through its Universidade Corporativa (Corporate University) and social responsibility programs. Cyrela is committed to add value to the areas in which it operates, by improving their urban infrastructure and by caring for the environment through the conduction of waste management within its construction sites.
Living, with a share in Cyrela’s business, is an independent company that focuses on the economic and super economic segments. With its own headquarters, it operates in all stages of the business. Living already has operations in 14 states and is one of the largest players in this segment.
Cyrela has built up a reputable image in view of both its achievements and its innovative history, and has become a quality benchmark, with over 56,000 delivered homes, 200 construction sites in progress in 67 cities and towns located in 16 Brazilian states and in the Federal District.
Geographical Expansion
Strategies • To consolidate its presence in the markets where it operates
• Organic growth
• To continue reducing costs and maximizing construction efficiencies
• To grow in economic and super economic segments through Living
Competitive Advantages • Integrated and effective business model
• Strong reputation and brand recognition
• Solid financial position
• Experienced management team
• In-house sales team
Cyrela’s Launches
Living’s Launches
Fact Sheet 3Q11
LandbankDuring 3Q11, Cyrela acquired 14 plots of land located in the South, Southeast, North and Midwest regions of Brazil, adding 269,200 square meters to its landbank and a potential PSV of R$ 1.2 billion. At the end of 3Q11, the landbank totaled 13.8 million square meters of commercially-usable area, with total potential sales.
Main Indicators
ShareholdingStructure (09/30/2011)
21 projects launched in 3Q11
Average price per unit of R$ 345,3 or R$ 5,3/sq.m.
Investor Relations Phone: (+55 11) 4502-3153
3Q11 2Q11 3Q10 9M11 9M10Launches (1)
Number of Launches 21 23 22 59 52 Launched PSV - R$ MM (100%) 1,757 1,654 1,359 4,564 3,083 Launched PSV - R$ MM (%CBR) 1,449 1,310 1,028 3,666 2,333 Cyrela's Share 82.5% 79.2% 75.6% 80.3% 75.7%PSV Swapped - R$ MM (100%) 388 171 92 597 221Average Price per sq. m. (R$) 5.377 4,519.219 3.856 4.808 3.431 Usable Area Launched (sq. m.) 326,727 366,023 352,547 949,228 898,702Units Launched 5,087 6,325 5,588 15,167 14,083Sales(2)
Pre-Sales Contracts - R$ MM (100%) 1,449 1,668 1,025 4,115 3,631 Pre-Sales Contracts - R$ MM (%CBR) 1,162 1,275 807 3,275 2,797Cyrela's Share 80.2% 76.4% 78.7% 79.6% 77.0%Average Price per sq. m. (R$) 5.492 4,686.243 3.840 4.707 3.522 Units Sold 3,699 5,582 4,141 13,234 14,806Financial IndicatorsNet Revenue (R$ MM) 1,560 1,383 1,163 4,143 3,501 Gross Profit (R$ MM) 446 382 409 1,157 1,197 EBITDA (R$ MM) 227 141 220 507 666 Net Income (R$ MM) 147 96 176 317 518 Gross Margin 28.6% 27.7% 35.2% 27.9% 34.2%EBITDA Margin 14.5% 10.2% 18.9% 12.2% 19.0%Net Margin 9.4% 6.9% 15.1% 7.6% 14.8%Earnings per Share (R$) 0.3469 0.2266 0.4166 0.7490 1.2255 Cashburn 60 190.2 (48) (136) (806)
(1) Including swapped units (2) Net of cancelled units
Landbank 100%(09/30/2011 - R$ billion)
Landbank by Region(09/30/2011 - %)
Economic
Mid-High
Super
EconomicMiddle
High-End
6,9 12,55,0 14,2 7,0
São Paulo31%
Southeast Others2%
North7%
Northeast16%
South7%
Midwest3%
Rio de Janeiro34%
Rio de Janeiro - RJ
Launched in sep/2011
PSV R$ 233 million
WAVE IPANEMA
Rio de Janeiro - RJ
Launched in sep/2011
PSV R$ 134 million
MAAYAN- SENA
São Paulo - SP
Launched in aug/2011
PSV R$ 23 million
DEZ GUARAPIRANGA
Goiânia - GO
Launched in sep/2011
PSV R$ 65 million
START RESIDENCE
Carmignac Gestion - 7,8%
Tarpon Investimento S.A. - 5,00%
Janus Capital Management - 5,1%
Black Rock Inc. - 5,3 %
Others
41,7%
Controlling Group
32,6%