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CORPORATE PRESENTATION

Corporate Presentation - Short version - Feb/2016

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CORPORATE PRESENTATION

Disclaimer

2

The material that follows is a presentation of general background information about MRV Engenharia e Participações S.A. and its subsidiaries (collectively, “MRV” or the “Company”) as ofthe date of the presentation. It is information in summary form and does not purport to be complete. No representation or warranty, express or implied, is made concerning, and noreliance should be placed on, the accuracy, fairness, or completeness of this information.

This presentation may contain certain forward-looking statements and information relating to MRV that reflect the current views and/or expectations of the Company and itsmanagement with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate orimply future results, performance or achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or phrases of similarmeaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differmaterially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In no event, neither the Company nor any of its affiliates, directors, officers,agents or employees shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statementscontained in this presentation or for any consequential, special or similar damages.

This presentation does not constitute an offer, or invitation, or solicitation of an offer to purchase any securities. Neither this presentation nor anything contained herein shall form thebasis of any contract or commitment whatsoever.

The market and competitive position data, including market forecasts, used throughout this presentation was obtained from internal surveys, market research, publicly availableinformation and industry publications. Although we have no reason to believe that any of this information or these reports are inaccurate in any material respect, we have notindependently verified the competitive position, market share, market size, market growth or other data provided by third parties or by industry or other publications. MRV does notmake any representation as to the accuracy of such information.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without MRV’s prior written consent.

COMPANY OVERVIEW

36 years of history

• We have launched over 300 thousand units. MRV was also considered the company the has built the most in 2015, reaching 2.1 million sq. meters.

• 80 thousand keys were delivered in 2014 and 2015, with an important mark of 1 key delivered each 3 minutes.

• The most valuable brand in the sector, according to “Isto É Dinheiro” magazine.

• Present in 134 cities.

• 1 in each 250 Brazilians is a MRV client.

• More than 26 thousand employees, that together build 1 apartment in each 3 minutes.

• Certified company – ISO 14001, OHSAS 18001.

• GHG Protocol, Selo Verde and Lar Doce Lar seals.

MRV in the largest residential construction company in Brasil and one of the largest in the world, and during these 36 years we have achieved important goals.

• MRV grows and never forgets its compromise with the people and the environment. 4

36 years of history

53.000 units per year 25.000 units per year 40.000 units per year

ADRs Level1

MRV Foundation

Beginning ofrelationship

Start ofGeographic

Diversification

Enactment ofForeclosure / Deed of Trustby Financial Institucions

Banks Resume MortgageLending

Private Equity

IPO

1st NegotiationCorrespondant

Criação da MRV LOG

Equity Follow-On

MCMV 1

MCMV 2

MCMV 3

Shareholder Structure

Free float represents61% of shareholders’ equity.

444,139,684 common shares

* December 31, 2015

“Novo Mercado”, the highest level of Corporate Governance

BM&FBovespa Novo Mercado : MRVE3ADR OTCQX : MRVNY

MRVNY

Cusip code 553479106

ISIN code US5534791067

6

Rubens Menin T. de Souza 36%

Executives and Board Members

3%Treasury

Shares 1%

Orbis Investment Management Limited 10%

M&G Investment Management

Limited 4%

Janus; 5%

Other Shareholders 61%

Market Opportunities&

Company’s Strategy

Source : BCB, dez/14 e Itaú Presentation, set/15

78

60

53

41

37

31

22

24

11

10

USA

Netherlands

Spain

France

Germany

South Africa

Italy

Chile

Mexico

Brazil

Real Estate Financing as % of GDP

Mortgage

In Brazil there is a significant habitational deficit, with rising and strengthening of C social class.

High potential of credit expansion

in Brazil.

Fonte: FGV, OCDE, IBGE, Nações Unidades, EY8

Population per age

Age (years)

Million Million

Habitational investmentAnnual average in R$ billion, per income bracket, from 2008 to 2030

People per house

Years

Houses (million)

Population (million)

Habitational Investments per year

Period

New houses(million)

HabitationalInvestment(R$ billion)

HabitationalInvestment

(% GDP)

Market Highlights

Competitive Advantages – Nationwide presence (134 cities)

In the past 10 years, we have grown in a consistent and organic way, based in solid market studies.

We have grown without losing identity , building skilled teams introduced in MRV culture.

We have entered this market to stay, it has been more than 3 years that we have presence in 114 cities out of total 134.

Act in strategic regions and with low competition;

Implementation of a standardized and industrial process;

Obtain economies of scale and cost savings;

Create entry barriers in the market we operate.

28

56 63

75

90

107 118 119

128 134

2006 2007 2008 2009 2010 2011 2012 2013 2014 201510

Source: *Study from Information and Statistics Center (CEI), from João Pinheiro Foundation.

In 3Q15, MRV achieved important marks among the listed companies:

74% of market share of launches in bracket II and III of MCMV Program;

42% of total launches in the year.

Demais empresas listadas11

Competitive Advantages – Leader in the Brazilian market

Launches Eligible to MCMV(R$ billion) (Groups II and III)

7.7

10.8

8.5

6.76.1

5.2 5.1

7.4

10.5

7.6

4.63.3

4.05.1

2009 2010 2011 2012 2013 2014 2015*

MCMV (Groups 1, 2 and 3) MCMV (Groups 2 and 3)

Note: The data are estimated and based on the listed Companies’ earnings releases.

% of launches in MCMV Program (Brackets II and III) – in PSV

Sales channels:

We have over 3,000 internal brokers, focused in 100% of MRV products. We invest in training and sales techniques to enhance the productivity and quality of the sale process.

Management of commissioning policies of internal team and definition of sales strategy.

12

Competitive Advantages – Structure of Sales

75% 77%81% 83% 84% 86% 83% 82%

25% 23%19% 17% 16% 14% 17% 18%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

Internal brokers

Third parties

Investiment in Marketing:

2 REACH

1 ANNUAL INVESTIMENT

3 MAIN CHANNELS

140 Million of Brazilian (70% of population)

R$ 100 Million

TV 26%, Internet 20%, Trade MKT 19%, Newspaper 5%,Other midias: 30%

R$ 2 Bi in virtual sales per year.

130 virtual attendant focused in high quality attendance located in Belo Horizonte.

1.100 brokers focused in attending prospects that have initiated contact through internet segregated in

80 virtual bases all over Brazil.

Results from Investiments:

13

Competitive Advantages – Effective Market

Sources: Google Analytics, MRV website, Blog, AppFacebook, App Android, App IOS and hotsites.

Corporate

website

14

Competitive Advantages – Online leadership

Relationship PortalGeneral Acesses:

2.400.138Year

55.230Number ofAnsweredCallsMonthly Average

Costumer Service

“Conexão MRV”

+154.837

Views of the videos“Conexão MRV”

#MeuMundoMelhor

+4.000.000

Views of the vídeos #MeuMundoMelhor

Complaints:

0,40%*

Year 2015

MRV in Midias

300.584 followers in Twitter

580.322 followers in Google +

2,7 milhões Facebook fans

*Number of ompalints over total clients (5 years) – Annual view

Competitive Advantages – Client Relationship

15

Resolved demands on 1st contact

90.34%Year

Client Access:

62,700Monthly Average of Single

Calls

Liderança nos principais indicadores Comerciais

16

Pre-sales(R$ million)

Launches(R$ million)

Operational Advantages

COMPETITIVE ADVANTAGES

• Presence of a team responsible for prospection and legalization• Knowledge and assertiveness in acquisitions• Capacity of purchase in strategic locations• Speed in the legalization process

Operacional Advantages – Landbank

Landbank (in units) Landbank (in R$ billion)

COMPIANT CITY *

• Highlight to the growth of compiant cities. The purchases have been donestrategically in cities with potential demand and that will generate growth.

• New acquisitions are focused in balancing the inventories and present cost reductionof 15% in 2015.

*Compiant city is a city that has a sufficient inventory to ensure the estimated sales pace for the region is attained, i.e., the estimated potential for the city;

179.970

201.878 219.061

dez/14 set/15 dez/15

22%

9%

27,8

32,1

34,8

dez/14 set/15 dez/15

25%

9%

18

Approximately 24,000 people dedicated to Production

The employees holding leadership positions (officers, managers,

and coordinators) have worked, on averages, 9 years at MRV.

Currently we have 225 works in progress, in following locations:

Northeast 38 (16.9%)

Mid-west

15 (6.7%)

South 27 (12.0%)

Southeast 145 (64.4%)

10

Officers

21 Managers

42 Coordinators

291 Engineers

316 Engineering Assistants and

Building Technicians

461 interns

24,916 other positions, including 14,654 own

and 10,262 outsourced workers.

Operacional Advantages – Experienced production team

Operacional Advantages - New Technologies

Hydraulic Kit

Reduced workforce

Less generated waste

Greater production rationalization

Better site organization

Standardized projects

Higher speed of production

Strategic team of equipment

Simplification of projects

Economically viable

Greater environmental sustainability

Increased work security

Standardization, Mechanization and Intelligent Processes

ConcretePrefabricated and

standardized door

Aluminium Forms Hoisted Slab

20

Operacional Advantages - Cost Improvement

Anos Nº dados MédiaDesvio

Padrão

Coeficiente

de Variação

2012 76 30,84 5,491 17,8%

2013 117 29,26 3,918 13,4%

2014 98 29,99 4,785 16,0%

2015 66 28,19 4,083 14,5%

It is possible to identify a decrease in

average cost, the lowest of the past four

years. Our change also decrease by

comparing 2012 to 2014. That is, our works

are getting more consistent, with a lower

cost.

Years Sample Average Stand.

Deviation

Coef. of

Variation

Boxplot of the Sum of the projection cost

Su

m o

fth

evalu

eo

fp

roje

ctio

n

co

st

Histogram of the Sum of the projection cost

Fre

qu

en

cy

Year

Sum of projection cost value

IP (Productivity Index): Shows how many

people are necessary to build one unit. The

guideline is the lower the indicator the

better the result.

VP (Production Speed): Shows the POC

per month of the works in progress. The

guideline is the higher the indicator the

better the result.

Increase in production capacity, reflecting a 12.5% decrease in IP (Productivity Index) when comparing 2015 to

2013.

29.4% increase in the VP (Production Speed), comparing the same years.

Up to Sep 2015 we built more than 3,000 units.

Operacional Advantages - Execution

26,1%26,6%26,6%

26,2%26,4%

27,8%28,2%

30,3%

29,5%29,2%

31,0%

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Highlight to the evolution of Gross Margin due to:

• Renegotiation with Suppliers• Productivity Increase (PI)• Reduction of discrepancy between projects• Better conditions for land purchase.

23

Operacional Advantages – Gross Margin

Note: 1 - Tecnisa and Eztec do not release the amount od delivered units.2 – Units presented in (‘000) units.

Operacional Advantages – Delivered untis

24

Delivered units – 9M15

Delivered units – 2014

• R$ 4.8 Billion in payments in 2015

• 55 thousand Invoices received per

month

• 18 thousand Employees paid per

month

• 285 Employees

SSC – Shared Service

Center

• + 4.8 million views of

#MeuMundoMelhor videos.

• + 3.6 million acesses to the

Relacionship Portal in 2015

• + 640 thousand estimated calls

answered in 2015

• 130 employees

• 260 thousand active clients

• R$ 450 million collected per

month

• + 2,000 current accounts

reconciled per month

• + 3,000 new registered contracts

per month

• 295 employees

• R$ 86 million of investiment in IT

(5 years)

• 10,000 IT users

• 15 million of scanned documents

• 99 employees

Operational Advantage - Administrative Structure

Lower

G&A/Net

Revenue in

the sector

Client Relationship

and Internal

Comunication

Information of

Technology

Specialized Services

• Rental in Belo Horizonteis cheaper than other capitals

• Skilled workers• Lower competition 25

Productivity - G&A / Net Revenue – 9M15

13,21%

12,65%

11,75%

11,72%

9,40%

8,70%

8,28%

7,50%

6,75%

5,69%

ROSSI

EZTEC

PDG

TECNISA

CYRELA

EVEN

GAFISA

HELBOR

DIRECIONAL

MRV

8,9%

7,9%

7,4%

5,9%

5,0%

4,8%

8,9%

7,9%

7,4%

5,9%

5,0%

4,8%

8,9%

7,9%

7,4%

5,9%

5,0%

4,8%8,9%

7,9%

7,4%

5,9%

5,0%

4,8%

2.32x

2.22x

2.07x

2.06x

1.65x

1.53x

1.46x

1.32x

1.19x

Due to our Strong and efficient operation, we are able to dilute expenses and present the best G&A/Net

Revenue ratio in the sector.

Average from peers10.02%

26

Operational Advantage – Efficient Administrative Structure

Financial Advantages

Financial Advantages – “Crédito Associativo”

Since the beginning of simultaneous sales, MRV has considerably decreased the collection period, contributing to

less working capital need per launched Project.

28

-20%

-10%

0%

10%

20%

30%

40%

1T 2T 3T 4T 5T 6T 7T 8T 9T 10T 11T 12T 13T 14T 15T 16T 17T 18T 19T 20T 21T 22T 23T

Associativo 2015

Individual

Associativo < 2015

Individual < 2015

Aquisição do Terreno Lançamento Início Obra Fim ObraLand acquisition Project startsLauchi

ng

Project ends 257

233

210197

189 184

165

124113

91

60

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Working Capital need (in days)

446 442431

416401

391 388378

345

319

292

268

2012 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Average Collection Period

-70 -8 1238

62

116

208

162

56

138 136

238

147 154

258

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Cash Generation (R$ million)

Highlights:

Greater corporate rating in the sector (brAA-) by Fitch and Standard & Poor´s.

Enhancement of systems and processes from CEF in 2011 → benefits since 2012;

Growth of operations from BB in “Crédito Associativo” model, started in 2013.

Financial AdvantagesConsistent Cash Generation and low leverage

3 years of recurrent generation

29

14,0%

16,7%

13,6%15,6%

21,7%19,3%

25,6%

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Cash Yield - 12M

MRV

11,0%12,2% 11,5%

12,2%

15,5%14,4%

19,0%

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

EPS Yield 12M

MRV

Consistency and stability of the Company’s yields

Average

quarterly

growth: 8.1%

Average

quarterly

growth: 12,6%

Average

quarterly

growth: 9,1%

Average

quarterly

growth: 3,2%

Nota: ROE excluindo equivalência patrimonial

30

2,62%2,9% 2,7%

4,70%

5,8%5,3%

6,0%

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Dividend Yield – 12M

MRV

10,7%10,4%

11,0%

11,8%

12,4%

13,2%13,3%

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

ROE – 12M

MRV

Indicadores Financeiros

31

Net Revenue(R$ million)

Gross Margin (%)

35

0 51

1

34

3 18

5

14

8

14

5

15

4

-81

31

-25

8

-30

740

8

35

0

34

0

11

2

11

2

93

41 39

35

-37

8

-79

5

MRV CYRELA EZTEC EVEN TECNISA DIRECIONAL HELBOR TENDA GAFISA ROSSI PDG

Lucro Líquido (R$ milhões)

9M14 9M15

Indicadores Financeiros

32

Net Income (R$ million)

Net Margin (%)

Subsidiaries

Landbank with PSV of R$2.1 billion;

140 commercialized units in 3Q15, equivalents

to a PSV of R$10.7 million;

SOS of 24% in 3Q15

Highlight to 2Q15 for the success during the

launching of “Bem Viver Campos” with 52% of

total units sold during the 1st month after

launch.

Equity: R$ 24 million

MRV share: 60%

Portfolio %LOG (in GLA) – 1,267,099 sqm of GLA

Rented GLA in 9m15 – 130,000 sqm (%LOG)

Number of projects: 39

Net Revenue 9M15: R$69 million

Adjusted Ebitda 9M15: R$54 million

Equity: R$1.5 Billion

MRV share: 38%

3Q15 3Q15

Subsidiaries

34