EZTEC - Investor Relations Mobile

2Q09 Results - Earnings per Share reaches R$ 0.543 and Return on Equity of 9.8% in 1H09


São Paulo, August 6, 2009 - EZTEC S.A., one of the most profitable companies within the Brazilian real estate industry, announces its 2Q09 results, a period in which recorded growth of sales and launches.

OPERATING AND FINANCIAL HIGHLIGHTS

  • EZTEC’s Net Revenue in 2Q09 was R$ 132.0 million, a 57.8% increase year-on-year. Year-to-date net revenue was R$ 236.5 million, a 62.7% increase when compared to 1H08.
  • Gross Income in 2Q09 was R$52.3 million, up 45.7% in relation to 2Q08, for gross margin of 39.6%. In 1H09, gross income was R$ 97.1 million, up 48.9% year-over-year, resulting in gross margin of 41.1%.
  • EBITDA was R$ 38.4 million in the quarter, a 56.5% increase versus 2Q08, representing EBITDA margin of 29.1%. In 1H09, EBITDA was R$ 74.7 million, a 91.0% increase over 1H08, representing EBITDA margin of 31.6%.
  • Net Income in 2Q09 was R$38.3 million, 32.1% higher than in 2Q08, for net margin of 29.0%. Earnings per share were R$0.543 in the 1H09, up 55.8% on 1H08.
  • Available Cash closed 2Q09 at R$177.3 million, Net Cash of R$137.0 million and performing receivables from real estate projects totaled R$89.8 million.
  • In 2Q09, two projects were launched in São Paulo: the commercial project Capital Corporate Office, located in the Berrini region, 150 meters away from an important shopping center complex, with own PSV of R$ 228.4 million, and the high-income residential project Le Premier Ibirapuera Parc, located in Paraíso district, with own PSV totaling R$ 71.5 million. Launches totaled R$ 299.9 million in a single quarter, up 37.3% on 2Q08.
  • Due to a high sales velocity of the developments launched, EZTEC‘s share of Contracted Sales totaled R$241.7 million in the second quarter of 2009, a 69.4% increase over 2Q08. EZTEC always discloses its sales net of brokerage and rescission.
  • On June 30, 2009, EZTEC’s land bank represented R$3.2 billion in own PSV. The average land bank acquisition cost was equivalent to 8.4% of PSV.

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Contact IR

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