EZTEC - Investor Relations Mobile

4Q14 and 2014 Earnings Release

4Q14 and 2014 Earnings Release

EZTEC reaches Net Income of R$474 million in 2014

Gross Margin rises to 53% and ROE reaches 23%

São Paulo, March 18th, 2015 - EZTEC S.A. (BM&FBOVESPA: EZTC3; Bloomberg EZTC3: BZ) announces its results for the fourth quarter of 2014 (4Q14) and 2014 results:

4Q14 Highlights:

  • Net Revenue reached R$253.5 million in the 4Q14, accumulating R$951.5 million in 2014;
  • Gross Profit totaled R$132.5 million in the 4Q14, with Gross Margin of 52.3%; accumulating R$500.1 million in 2014, with Gross Margin of 52.6%;
  • EBITDA reached R$120.8 million for a EBITDA Margin of 47.7% in the 4Q14; totaling R$440.6 million in 2014, for EBITDA Margin of 46.3%;
  • Net Income beat R$131.6 million with Net Margin of 51.9% in the 4Q14; reaching R$474.3 million in 2014, with Net Margin of 49.9%, representing an Quarterly Annualized ROE of 23.3% and 22.6% Annualized ROE for 2014;
  • By the end of the 4Q14, EZTEC reported a Cash Equivalents and Financial Investments position of R$234.5 million. Excluding the Gross Debt of R$507.0 million (being exclusively of SFH financing and including EZ Tower´s), the Company’s Net Debt stood at R$272.5 million, complemented by Performed Receivables from real estate projects of R$444.2 million, which are available for securitization and yield IGP-M + 12% p.a.;
  • In the 4Q14, EZTEC launched two residential projects: [i] the Prime House Bussocaba, in Osasco city, in the São Paulo Metropolitan Area, with EZTEC PSV of R$119.8 million; and [ii] the Legítimo Santana, in the North Zone of São Paulo, with EZTEC PSV of R$49.8 million. Therefore, in the fourth quarter of 2014, EZTEC launched R$169.6 million in own PSV, accumulating R$1,068.4 million in 2014;
  • EZTEC’s Contracted Sales, net of brokerage commissions, cancelations and rescissions, reached R$192.3 million in the 4Q14; and R$881.3 million in 2014. It is important to point out the good sales performance of inventory units, reaching R$367 million of units launched in previous years;
  • As of December 31, 2014, EZTEC’s Land Bank totaled R$6.0 billion in own PSV. The average Cost of Lot Acquisitions, including the costs associated with expanding construction potential, is equivalent to 12.7% of PSV. During this quarter, EZTEC acquired 1 new land piece in São Paulo city, with average cost of 9.8% of PSV, which increased the Company´s landbank position in R$656.0 million.

To access the Earnings Release, click here.

Conference Calls

March 19th, 2015
10:30 a.m. (New York Time)
11:30 a.m. (Brasília Time)
Ph.: +1 (412) 317-6776

+1 (412) 317-0088
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March 19th, 2015
09:00 a.m. (New York Time)
10:00 a.m. (Brasília Time)
Ph.: +55 (11) 3728-5971

+55 (11) 3127-4999
Code: 90703175
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Contact IR

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