EZTEC's Net Income increases 93% reaching new record level of R$150.7 million on the 1Q13
14 May 2013 - 12:25PM
PR Newswire (US)
SAO PAULO, May 13, 2013
/PRNewswire/ -- EZTEC S.A. (BM&FBOVESPA: EZTC3;
Bloomberg EZTC3: BZ) announces its results for the first quarter of
2013 (1Q13) results:
1Q13 Highlights:
- In January 15th, 2013, EZTEC
announced the sale of one out of two towers - Tower A - of the EZ
Towers corporate project for R$564
million, so far the Company´s largest transaction. The
results of this sale will be recognized based on the Percentage of
Completion (PoC), while Tower A is expected to be delivered by the
end of 2014 and Tower B in 2015.
- Net Revenue reached R$323.1
million in the 1Q13, growth of 113.5% from 1Q12.
- Gross Profit was R$163.5
million in the 1Q13, up 108.3% from 4Q12, with Gross
Margin of 50.6%, (10.6 p.p. above our Guidance for the
year).
- EBITDA was R$150.3 million
in the 1Q13, growth of 108.2% from 1Q12, for EBITDA Margin
of 46.5%.
- Net Income was R$150.7
million in the 1Q13, with Net Margin of 46.6%, 16.6 p.p.
above the Guidance for the year, representing an Annualized
ROE of 41.7%.
- EZTEC, in the 1Q13, ended the quarter with Cash Equivalents
and Financial Investments of R$173.1
million. Excluding the Debt of R$97.6
million (being exclusively of SFH financing), the Company's
Net Cash stood at R$75.4
million, which was complemented by Performed
Receivables from real estate projects of R$364.9 million, which are available for
securitization and yielding IGP-M + 12% p.a.
- In the 1Q13, the Company launched 3 residential projects
in the South Zone of Sao Paulo:
the middle-end Premiatto Sacoma project, with own PSV of
R$50.3 million; the high-end Splendor
Vila Mariana project, with own PSV of R$66.2
million; and the high-end Le Premier Paraiso project, with
own PSV of R$85.4 million. These
launches, added to the stake acquisitions, totaled R$292.1 million in own PSV in the 1Q13, which
corresponds to 22.5% of the mid-point of the Company's launch
Guidance for 2013. When considering EZ Towers - Tower A, Launches
reached R$856.1 million on the
first quarter of 2013.
- EZTEC's stake of Contracted Sales, net of brokerage
commissions and rescissions, reached R$207.0
million in 1Q13. When considering EZ Towers - Tower A, Sales
reached R$771.0 million in the
1Q13.
- As of March 31, 2013,
EZTEC's Land Bank totaled R$4.1
billion in own PSV. The average Cost of Lot
Acquisitions, including the costs associated with expanding
construction potential, is equivalent to 11.1% of PSV.
www.eztec.com.br/ir
SOURCE EZTEC S.A.
Copyright 2013 PR Newswire
EZTEC ON (BOV:EZTC3)
Historical Stock Chart
From Sep 2024 to Oct 2024
EZTEC ON (BOV:EZTC3)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Ez Tec Empreendimentos Participacoes Sa (Brazil Bovespa Exchange): 0 recent articles
More News Articles