EZTEC - Investor Relations Mobile

3Q09 Earnings Release - Net Income grows 97% to R$128.3 million, with net margin of 33.5%


São Paulo, November 3, 2009 - EZTEC S.A. celebrates its 30th anniversary as one of the most profitable builders and developers in Brazil. The Company announces its results for the third quarter of 2009 (3Q09).

OPERATING AND FINANCIAL HIGHLIGHTS

  • Net Revenue in the quarter was R$146.0 million, 42.7% higher year-on-year. In 9M09, net revenue came to R$382.6 million, up 54.5% year-on-year.
  • Gross Income in 3Q09 was R$61.4 million, up 17.8% in relation to 3Q08, for Gross Margin of 42.0%. In 9M09, gross income was R$158.5 million, growing by 35.1% year-on-year, representing gross margin of 41.4%.
  • EBITDA in 3Q09 was R$51.0 million, an increase of 583.4% in relation to 3Q08, for EBITDA Margin of 34.9%. In 9M09, EBITDA was R$125.8 million, a 169.3% increase year-on-year, representing EBITDA margin of 32.9%.
  • Net Income in 3Q09 was R$50.6 million, 283.6% higher than in 3Q08, for Net Margin of 34.6%. In 9M09, net income was R$128.3 million, up 98.9% over 9M08 and representing earnings per share of R$0.896.
  • EZTEC ended 3Q09 with Cash of R$166.7 million, Net Cash of R$116.8 million and Performing Receivables from real estate projects of R$76.6 million.
  • Two projects were launched in 3Q09: the commercial project Supéria Paraíso located near Avenida Paulista in São Paulo, with R$48.0 million in own PSV; and the second phase of the super-economic project Vidabella located in Mogi das Cruzes in the São Paulo Metropolitan Area, with R$4.3 million in own PSV. As a result, launches totaled R$52.3 million in 3Q09, 41.7% higher year-on-year.
  • In view of the strong sales of units in inventory, EZTECís share of Contracted Sales totaled R$148.1 million, up 84.5% versus 3Q08. EZTEC always discloses its sales net of brokerage and rescissions.
  • On September 30, 2009, EZTECís Land Bank was worth R$3.4 billion in own PSV. The average land bank acquisition cost was equivalent to 8.8% of PSV.

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Contact IR

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