EZTEC - Investor Relations Mobile

1Q14 Earnings Release

1Q14 Earnings Release

EZTEC begins the year with Net Income at R$95.5 million

Gross Margin at 49.6% and Backlog Margin at 54.1%

São Paulo, May 8th, 2014 - EZTEC S.A. (BM&FBOVESPA: EZTC3; Bloomberg EZTC3: BZ) announces its results for the first quarter of 2014 (1Q14) results:

1Q14 Highlights:

  • Net Revenue reached R$210.8 million in the 1Q14, compared to R$323.1 million in the 1Q13;
  • Gross Profit reached R$104.6 million in the 1Q14, with Gross Margin of 49.6%, compared to R$163.5 million in the 1Q13;
  • EBITDA reached R$88.0 million in the 1Q14, for EBITDA Margin of 41.8%; compared to R$150.3 million in the 1Q13;
  • Net Income reached R$95.5 million in the 1Q14, with Net Margin of 45.3%, representing an Annualized ROE of 19.4%.;
  • By the end of the 1Q14, EZTEC reported a Cash Equivalents and Financial Investments position of R$257.7 million. Excluding the Gross Debt of R$351.5 million (being exclusively of SFH financing and including EZ Tower´s), the Company’s Net Debt stood at R$93.9 million, complemented by Performed Receivables from real estate projects of R$282.5 million, which are available for securitization and yield IGP-M + 12% p.a.;
  • In the 1Q14, EZTEC launched, in March 27th, 2014, the last two phases of the Cidade Maia project, located in Guarulhos, in the São Paulo Metropolitan Area, with middle-end units. The Botânica phase has 2 residential towers, with a total of 566 middle-end units and R$182.8 million in own PSV. The Reserva phase 2 more residential towers, with a total of 224 middle-end units and R$128.5 million in own PSV. Therefore, the company launched 790 units for an own PSV of R$311.2 million in the first quarter of 2014.
  • EZTEC’s Contracted Sales, net of brokerage commissions, cancelations and rescissions, reached R$142.7 million in the 1Q14. It is important to point out the good sales performance of inventory units, R$130.1 million of launched units in previous quarters.
  • As of March 31, 2014, EZTEC’s Land Bank totaled R$5.2 billion in own PSV. The average Cost of Lot Acquisitions, including the costs associated with expanding construction potential, is equivalent to 12.6% of PSV.

To access the Earnings Release, click here.

Conference Calls

May 9th, 2014
10:30 a.m. (New York Time)
11:30 a.m. (Brasília Time)
Ph.: +1 (412) 317-6776

+1 (412) 317-0088
Code: 10043786
Webcast: Click here.

May 9th, 2014
09:00 a.m. (New York Time)
10:00 a.m. (Brasília Time)
Ph.: +55 (11) 3728-5971

+55 (11) 3127-4999
Code: 32924474
Webcast: Click here.

For further information contact:
EZTEC S.A. - Investor Relations
Phone: +55 (11) 5056-8313
E-mail: ri@eztec.com.br

Contact IR

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