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4Q13 and 2013 Earnings Release

4Q13 and 2013 Earnings Release

Operational and Financial records increases Net
Income in 74% to R$586.0 million

Net Margin reaches 51.4%, ROE beats 35.4%

São Paulo, March 19th, 2014 - EZTEC S.A. (BM&FBOVESPA: EZTC3; Bloomberg EZTC3: BZ) announces its results for the fourth quarter of 2013 (4Q13) and 2013 results:

4Q13 and 2013 Highlights:

  • Net Revenue reached R$1,139.0 million in 2013, up 80.1% from 2012; and R$287.9 million in the 4Q13;
  • Gross Profit reached R$596.2 million in 2013, up 75.6% from 2012, with Gross Margin of 52.3%, (12.3 p.p. above our Guidance for the year);
  • EBITDA reached R$569.4 million in 2013, increase of 84.7% from 2012, for EBITDA Margin of 50.0%;
  • Net Income reached R$586.0 million in 2013, with Net Margin of 51.4%, 21.4 p.p. above the Guidance for the year, representing an Annual ROE of 35.4%. In the 4Q13, Net Income reached R$159.5 million for 55.4% Net Margin;
  • EZTEC, in the 4Q13, ended the quarter with Cash Equivalents and Financial Investments of R$199.3 million. Excluding the Debt of R$292.9 million (being exclusively of SFH financing), the Company‘s Net Debt stood at R$93.6 million, complemented by Performed Receivables from real estate projects of R$362.8 million, which are available for securitization and yield IGP-M + 12% p.a.;
  • In the 4Q13, the Company launched the first three phases of the Cidade Maia project, located in Guarulhos, in the São Paulo Metropolitan Area, with middle-end units. Phases: [i] Jardim with R$115.8 million in own PSV, [ii] Praça with R$147.3 million in own PSV; and [iii] Alameda with R$89.0 million in own PSV. Together, 4Q13´s launches reached R$352.3 million which, when added to the 9M13´s launches and to stake acquisitions, totaled R$1,351.5 million in own PSV for 2013, which corresponds to 104% of the Company´s launch Guidance mid-point. When considering EZ Towers - Tower A, Launches reached R$1.92 billion in 2013;
  • EZTEC‘s Contracted Sales, reached R$271.6 million in the 4Q13 and R$1,042.9 million in 2013. When considering EZ Towers - Tower A, Sales reached R$1.61 billion in 2013;
  • As of December 31, 2013, EZTEC‘s Land Bank totaled R$5.3 billion in own PSV. The average Cost of Lot Acquisitions, including the costs associated with expanding construction potential, is equivalent to 12.2% of PSV.

To access the Earnings Release, click here.

Conference Calls

March 20th, 2014
11:00 a.m. (New York Time)
12:00 p.m. (Brasília Time)
Ph.: +1 (412) 317-6776

+1 (412) 317-0088
Code: 10039665
Webcast: Click here.

March 20th, 2014
09:30 a.m. (New York Time)
10:30 a.m. (Brasília Time)
Ph.: +55 (11) 3728-5971

+55 (11) 3127-4999
Code: 63612594
Webcast: Click here.

Contact IR

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