conference call 1q09
DESCRIPTION
Conference Call of Camargo Corrêa Desenvolvimento Imobiliário (CCDI) of 1Q09's results.TRANSCRIPT
Conference Call
1Q09 Results
05/13/2009
Operational Performance
3
214.8
120.8
4Q08 1Q09
CONTRACTED SALES (R$MM)
CONTRACTED SALES(R$MM)
SALES OF SPEED – VSO (%)
- 43.8%
- 6.2 pp.
18.6%
12.4%
4Q08 1Q09
4
CONTRACTED SALES - QUARTER (R$MM)
234.9 263.0200.3 214.8
120.8
211.0
1Q08 2Q08 3Q08 4Q08 1Q09VENTURA CORP. TOWERS RETAIL
5
CONTRACTED SALES – 1Q09
SEGMENTS
SEGMENTS WITH UNITS PRICED UNTIL R$500 THOUSANDS REPRESENT 89% OF THE SALES
LOCATION
90% OF SALES TOOK PLACE IN THE STATE OF SÃO PAULO
Low Income21%
Economic34%
Medium26% Mid-High
8%
Others11%
São Paulo (capital + RMSP)
60%
São Paulo (country + shore)
30% Rio de Janeiro2%
Minas Gerais8%
6
LANDBANK (POTENCIAL PSV – R$ BN)
São Paulo41%
Region Metropolitan of São Paulo
31%
SP Countryside
12% SP shore9%
OtherEstates
7%
9.810.0
1T08 1T09Commercial
11%
Low Income13%
Economic21%
Medium10%
Mid-High7%
Other Segments
38%
Financial Performance
8
GROSS AND E NET REVENUES(R$MM)
GROSS REVENUES NET REVENUES
120.2113.8
4Q08 1Q09
-5.4%
116.2109.6
4Q08 1Q09
-5.7%
REVENUES SLIGHTLY BELOW LAST QUARTER
LESS COMMERCIAL ACTIVITIES
EVOLUTION OF PROJECTS FINANCIAL COMPLETION
9
GROSS PROFIT(R$MM)
GROSS INCOME GROSS MARGIN
34.336.1
4Q08 1Q09
+5.4%
29.5%
33.0%
4Q08 1Q09
GROSS INCOME AND MARGIN IN EXPANSION
HIGHER MARGIN OF PROJECTS RECOGNIZED IN THIS PERIOD
10
NET INCOME(R$MM)
NET INCOME NET MARGIN
-8.0
10.0
4Q08 1Q09
-6.9%
9.1%
4Q08 1Q09
11
1Q08“THEORETICAL” NET INCOME (R$MM)WITH THE NEW BR GAAP, THE NET INCOME WOULD BE:
1Q08 1Q09
11,4
06
9.99
2
9,99
2
1,41
4
NET
INCO
ME
-O
LD B
R G
AAP
PRES
ENT
VALU
E AD
JUST
MEN
TS
NET
INCO
ME
-N
EW B
R G
AAP
68,1
58
57,8
31
7,680
2,181
635
169
NET
INCO
ME
-O
LD B
R G
AAP
COM
MER
CIAL
EX
PEN
SES
WRI
TE-
OFF
S
PRES
ENT
VALU
E AD
JUST
MEN
TS
INTE
REST
ON
LA
ND
BAN
K AC
QU
ISIT
ION
S
EFFE
CT IN
M
INO
RITA
RY
NET
INCO
ME
-N
EW B
R G
AAP
12
10.2%9.1%
OLD BR GAAP NEW BR GAAP
28.9%
24.9%
OLD BR GAAP NEW BR GAAP
“THEORETICAL” NET MARGIN (%)
- 4.0 pp.
1Q08 1Q09
- 1.1pp.
13
EBITDA (R$MM)
EBITDA EBITDA MARGIN
-1.8
15.8
4Q08 1Q09
-1.5%
14.4%
4Q08 1Q09
14
825,0
851,0
4Q08 1Q09
+3,2%
REVENUES AND RESULTS TO BE RECOGNIZED (R$MM)
REVENUES OF SALESTO BE RECOGNIZED
RESULTS AND MARGIN OF SALES TO BE RECOGNIZED
+3.2 %
+3.4 pp.
204.7
239.624.8%
28.2%
4Q08 1Q09
CONTACT INFORMATIONFernando BergaminInvestor Relations Tel: (55 11) 3841-5880
Access our IR Blog: www.ccdi.com.br/blog