apresentação de resultados 1q10
DESCRIPTION
TRANSCRIPT
Conference Call
1Q10 Results1Q10 Results
05/05/2010
SPEAKERS
• FRANCISCO SCIAROTTA
CEO – CCDI
• LEONARDO ROCHA
2
CFO and IRO- CCDI
1Q10 Highlights� Contracted Sales totaled R$192.9 MM (+59.7% over 1Q09)
� Net Income reached R$65.3 MM (+553.8% over 1Q09)
� Itautec Land Sale
3
� HM Engenharia acquires a piece of land
� CCDI announces its 2010 launchings estimates
� Installation of the Fiscal Council
� Caixa Econômica Federal approved the Global Funding for CCDI/HM
LAUNCHING RECORD AND PROJECTION
4
1,350.0 1,269.0
1,550.0
LAUNCHING RECORD AND PROJECTION (R$ THOUSAND)
100% CCDI
Low Income: between
45% - 55%
of launchings
30.0 269.1 193.4
1,350.0
453.0
1,239.0 630.9
357.6
453.0
900.0
551.0
2006 2007 2008 2009 2010 (E)
CCDI HM
of launchings
2010 Operational Results
2010 LAUNCHINGS
6
393.7
276.9
LAUNCHINGS (R$ MM)
100% CCDI20.5%
of the projection
36 24.0
102.0 126.0
357.7
150.9
150.9174.9
102.0
276.9
4Q09 1Q10 2Q10
(until now)
2010 Acumulated
(until now)
CCDI HM
In 1Q09, there were no launchings from CCDI and HM.
2010 LAUNCHINGS – CCDI
7
� Location: São Paulo � Location: São Paulo
� # Units: 216
� PSV: R$ 77.1 million
� Launching: Feb/2010
� Private Area: 49 m² and 73 m²
� # Units: 199
� PSV: R$ 73.8 million
� Launching: Mar/2010
� Private Area: 79 m² , 109 m² and 159 m²
2010 LAUNCHINGS – HM ENGENHARIA
8
� Location São José do Rio Preto, SP
� # Units : 118
� PSV : R$ 11.0 million
� Launching : Apr/2010
� Location: Pedreira, SP
� # Units: 271
� PSV: R$ 24.0 million
� Launching: Feb/2010
� Location : São José do Rio Preto, SP
� # Units : 118
� PSV : R$ 11.0 million
� Launching : Apr/2010 � Launching : Apr/2010
� Private Area: 47 m² and 49 m²
� Location : Santa Bárbara d’Oeste, SP
� # Units : 312
� PSV : R$ 32.0 million
� Launching: Apr/2010
� Private Area: 49 m² and 52 m²
� Location : Santa Bárbara d’Oeste, SP
� # Units : 271
� PSV : R$ 24.0 million
� Launching : Apr/2010
� Private Area: 42 m²
� Launching: Feb/2010
� Private Area: 42 m²
� Launching : Apr/2010
� Private Area: 47 m² and 49 m²
1Q10 CONTRACTED SALES
9
CONTRACTED SALES (R$ MM)
100% CCDI
Until
2007;
9.8%
1Q10 CONTRATCTED SALES
By launching period
120.8
185.0 192.9
1Q09 4Q09 1Q10
2008;
14.6%
2Q09;
2.6%
3Q09;
3.7%
4Q09;
36.2%
1Q10;
33.1%
CONTRACTED SALES
10
Low
Income;
20.9%
Economic
High and
Luxury;
20.9%
1Q10 CONTRACTED SALES
By market segment
São Paulo
(Country +
shoreline)
22.5%
Minas
Gerais
0.2%
Paraná
10.2%
Rio de
Janeiro
3.1%
1Q10 CONTRACTED SALES
By location
SALES FROM SEGMENTS UNDER R$500,0
THOUSAND PER UNIT REPRESENTED
79.1%
SALES ORIGNED IN THE STATE OF
SÃO PAULO: 86.6%
Economic
; 2.7%
Medium;
16.1%Medium-
High;
39.4%
São Paulo
(Capital +
RMSP)
64.1%
0.2%
INVENTORIES PRICED TO MARKET
11
INVENTORIES PRICED TO MARKET
(R$ MM)
Until 2007;
1Q10;
13.3%
1Q10 INVENTORIES PRICED TO
MARKET
By launching period
838.3
824.1
814.6
1Q09* 4Q09 1Q10
Until 2007;
41.7%
2008;
13.7%
2Q09; 0,7%
3Q09; 1.1%
4Q09;
29.5%
*Excludes Ventura Corporate Towers values
SALES SPEED - VSO
12
31.0%
48.5%45.4%
37.7%
SPEED OF SALES - VSO (%)
SALES OVER OFFER (VSO): This indicator measures the ratio between the total amount of contracts sold over the total amount of
contracts available for sale. The higher the ratio, the faster the Company is selling its units. For analysis purposes, we have used retail
units exclusively for both contracted sales and contracts available for sale.
12.2%
18.4%
23.7%
18.5% 19.3%13.7%
1Q09 2Q09 3Q09 4Q09 1Q10
CCDI HM Engenharia
*Excludes Ventura Corporate Towers values
LAND BANK – MARCH/2010
13
0.1
(0.1)(0.5)
LAND BANK
(R$ BILLION)HM Engenharia’s Land
Bank = R$1.3 Billion
9.1 8.6
4Q09 Land Bank 1Q10 Aquisitions 1Q10 Launchings Itautec Sale 1Q10 Land Bank
LAND BANK– R$8.6 BILLION IN PSV
14
Low
Income
23.0%
Commerci
al
14.5%
1Q10 LAND BANK
By segment
Espírito
Santo
4.1%
Other
States
2.9%
1Q10 LAND BANK
By location
23.0%
Economic
22.2%
Medium
15.4%
Medium-
High
9.0%
Others
19.4%São Paulo
Capital
46.3%
RMSP
31.3%
São Paulo
(Country+
shoreline)
15.3%
4.1%
Financial Performance
113.8174.0
274.3
GROSS REVENUE
(R$ MM)
GROSS AND NET REVENUES (R$MM)
16
1Q09 4Q09 1Q10
109.6167.0
263.6
1Q09 4Q09 1Q10
NET REVENUES
(R$ MM)
GROSS INCOME(R$MM)
17
36.143.0
96.3
GROSS INCOME
(R$ MM)
1Q09 4Q09 1Q10
33.0%25.7%
36.5%
1Q09 4Q09 1Q10
GROSS MARGIN
(%) +3.6 pp.
NET INCOME (R$MM)
18
10.0
102.2 65.3
NET INCOME
(R$ MM)
1Q09 4Q09 1Q10
9.1%
61.2%
24.8%
1Q09 4Q09 1Q10
NET MARGIN
(%)
+15.7pp.
EBITDA (R$MM)
19
15.8
130.8
75.4
EBITDA
(R$ MM)
15.8
1Q09 4Q09 1Q10
14.4%
78.3%
28.6%
1Q09 4Q09 1Q10
EBITDA MARGIN
(%)
+14,2pp.
REVENUES AND RESULTS TO BE REGOGNIZED (R$MM)
20
REVENUES TO BE RECOGNIZED
(R$ MM)RESULTS TO BE RECOGNIZED
(R$ MM)
851.0
955.3991.3
1Q09 4Q09 1Q10
239.6 244.1265.1
1Q09 4Q09 1Q10
CASH AND INDEBTDNESS (R$MM)
21
NET DEBT
(R$ MM)
+2.7%
43.8
CHANGE IN CAHS POSITION
(R$ MM)
98.5
281.7 289.3
1Q09 4Q09 1Q10
318.9
362.7
Cash on Dec/2009 Cash generated on
1Q10
Cash position on
Mar/10
CONTACT INFORMATION
Leonardo de Paiva RochaLeonardo de Paiva Rocha
CFO AND IRO
Investors Relations Area
Tel: (5511) 3841-4824