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2Q14 Earnings Release


2Q14 Earnings Release

EZTEC reaches R$217.8 million in the 1H14

Gross Margin rises to 52.7% with Backlog Margin at 54.4%

São Paulo, August 11th, 2014 - EZTEC S.A. (BM&FBOVESPA: EZTC3; Bloomberg EZTC3: BZ) announces its results for the second quarter of 2014 (2Q14) results:

2Q14 Highlights:

  • Net Revenue reached R$224.5 million in the 2Q14, accumulating R$435.3 million in the 1H14;
  • Gross Profit totaled R$124.8 million in the 2Q14, with Gross Margin of 55.6%; accumulating R$229.4 million in the 1H14, with Gross Margin of 52.7%;
  • EBITDA reached R$107.8 million in the 2Q14, for EBITDA Margin of 48.0%; totaling R$195.9 million in the 1H14, for EBITDA Margin of 45.0%;
  • Net Income beat R$122.4 million in the 2Q14, with Net Margin of 54.5%; reaching R$217.8 million in the 1H14, with Net Margin of 50.0%, representing an Quarterly Annualized ROE of 24.2% and 21.8% Annualized ROE in the first half of the year;
  • By the end of the 2Q14, EZTEC reported a Cash Equivalents and Financial Investments position of R$332.3 million. Excluding the Gross Debt of R$410.5 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$344.3 million, which are available for securitization and yield IGP-M + 12% p.a.;
  • In the 2Q14, EZTEC launched two projects in the East Zone of São Paulo city. Both are residential projects for the middle-high end segment. The first project was called Magnífico Mooca, with 162 units for an own PSV of R$47.9 million. The second project was called Gran Quadra San Felipe and has 152 units, with phases Palazzo and Giardino, for R$135.9 million in own PSV. Therefore, in second quarter of 2014, the Company launched 314 units for an own PSV of R$183.8 million, accumulating R$495.1 million in the 1H14;
  • EZTEC’s Contracted Sales, net of brokerage commissions, cancelations and rescissions, reached R$194.2 million in the 2Q14; and R$336.9 million in the 1H14. It is important to point out the good sales performance of inventory units, reaching R$186.1 million of units launched in previous years sold;
  • As of June 30, 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 12.9% of PSV. During this quarter, EZTEC acquired 2 new land pieces, which increased the Company´s landbank position in R$213.6 million.

To access the Earnings Release, click here.

Conference Calls

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

Replay:
+1 (412) 317-0088
Code: 10049224
Webcast:
Click here.

Portuguese
August 12th, 2014
09:30 a.m. (New York Time)
10:30 a.m. (Brasília Time)
Ph.: +55 (11) 3728-5971
Code: EZTEC


Replay:
+55 (11) 3127-4999
Code: 50171599
Webcast:
Click here.

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


Contact IR

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