EZTEC - Investor Relations Mobile

2Q13 Earnings Release


2Q13 Earnings Release

Net Income leaps 81.5% reaching R$287.1 million
With Sales 191.4% higher, ROE beats 37.7%

São Paulo, August 12th, 2013 - EZTEC S.A. (BM&FBOVESPA: EZTC3; Bloomberg EZTC3: BZ) announces its results for the second quarter of 2013 (2Q13) results:

2Q13 Highlights:

  • Net Revenue reached R$598.7 million in the 1H13, up 93.9% from the 1H12;
  • Gross Profit reached R$304.4 million in the 1H13, up 84.1% from the 1H12, with Gross Margin of 50.8%, (10.8 p.p. above our Guidance for the year);
  • EBITDA reached R$283.3 million in the 1H13, increase of 92.6% from the 1H12, for EBITDA Margin of 47.3%;
  • Net Income reached R$287.1 million in the 1H13, with Net Margin of 47.9%, 17.9 p.p. above the Guidance for the year, representing an Annualized ROE of 37.7%;
  • EZTEC, in the 2Q13, ended the quarter with Cash Equivalents and Financial Investments of R$201.5 million. Excluding the Debt of R$131.7 million (being exclusively of SFH financing), the Company‘s Net Cash stood at R$69.8 million, which was complemented by Performed Receivables from real estate projects of R$310.9 million, which are available for securitization and yield IGP-M + 12% p.a.;
  • In the 2Q13, the Company launched 3 projects : [i] the EZ Mark commercial project, with own PSV of R$333.8 million; and two new phases of the Jardins do Brasil project: [ii] the residential phase called Mantiqueira, with R$64.4 million in own PSV; and [iii] the commercial phase called Centro Empresarial Jardins do Brasil - Torre São Paulo, with R$33.6 million in own PSV. When these launches are added to the 1Q13´s launches and to stake acquisitions, Launches totaled R$723.9 million in own PSV in the 1H13, which corresponds to 55.7% of the mid-point of the Company´s launch Guidance for 2013. When considering EZ Towers - Tower A, Launches reached R$1.29 billion on the first half of 2013;
  • EZTEC‘s Contracted Sales, net of brokerage commissions and rescissions, reached R$363.0 million, growth of 141.6% and R$570.0 million in the 1H13. When considering EZ Towers - Tower A, Sales reached R$1.13 billion in the 1H13, increase of 191%;
  • As of June 30, 2013, EZTEC‘s Land Bank totaled R$4.0 billion in own PSV. The average Cost of Lot Acquisitions, including the costs associated with expanding construction potential, is equivalent to 12.0% of PSV.

To access the Earnings Release, click here.


Contact IR

Telephone: +55 11 5056 8313
E-mail: ri@eztec.com.br