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1Q15 Earnings Release

1Q15 Earnings Release

EZTEC begins 2015 with R$133 million of Net Income

Gross Margin rises to 58% and quarterly ROE reaches 24%

São Paulo, May 7th, 2015 - EZTEC S.A. (BM&FBOVESPA: EZTC3; Bloomberg EZTC3: BZ) announces its results for the first quarter of 2015 (1Q15) results:

1Q15 Highlights:

  • Net Revenue reached R$231.7 million in the 1Q15, growth of 9.9% compared to the 1Q14;
  • Gross Profit totaled R$133.2 million in the 1Q15, with Gross Margin of 57.5%; 7.9 p.p. superior to the 1Q14;
  • EBITDA reached R$124.0 million for a EBITDA Margin of 53.5% in the 1Q15; 11.7 p.p. superior to the 1Q14;
  • Net Income beat R$133.1 million, highest amount since 2013, with Net Margin of 57.5% in the 1Q15; representing an Quarterly Annualized ROE of 24.0%;
  • By the end of the 1Q15, EZTEC reported a Cash Equivalents and Financial Investments position of R$436.5 million. Excluding the Gross Debt of R$125.3 million (being exclusively of SFH financing and including EZ Tower´s), the Company’s Net Cash stood at R$311.2 million, complemented by Performed Receivables from real estate projects of R$422.7 million, which are available for securitization and yield IGP-M + 12% p.a.;
  • In the 1Q15, EZTEC launched one residential project: the Splendor Ipiranga, in South Zone of the São Paulo city, with 44 high-end units and EZTEC PSV of R$72.0 million;
  • EZTEC’s Contracted Sales, net of brokerage commissions, cancelations and rescissions, reached R$161.1 million in the 1Q15; growth of 12.9% compared to the 1Q14. It is important to point out the good sales performance of inventory units, reaching R$116.6 million of units launched in previous years;
  • As of March 31, 2015, EZTEC’s Land Bank totaled R$6.1 billion in own PSV. The average Cost of Lot Acquisitions, including the costs associated with expanding construction potential, is equivalent to 12.5% of PSV. During this quarter, EZTEC acquired 1 new land piece in São Paulo city, with average cost of 8.6% of PSV, which increased the Company´s landbank position in R$139.6 million.

To access the Earnings Release, click here.

Conference Calls

May 8th, 2015
08:30 a.m. (New York Time)
09:30 a.m. (Brasília Time)
Ph.: +1 (412) 317-6776

+1 (412) 317-0088
Code: 10063342
Webcast: Click here

May 8th, 2015
09:30 a.m. (New York Time)
10:30 a.m. (Brasília Time)
Ph.: +55 (11) 3728-5971

+55 (11) 3127-4999
Code: 29479311
Webcast: Click here

Contact IR

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