Pdg Realty Sa Empreendimentos E Participacoes · BMFBOVESPA:PDGR3
Pdg Realty Sa Empreendimentos E Participacoes — Q2 2012 Earnings Presentation
16 slides from Pdg Realty Sa Empreendimentos E Participacoes's earnings presentation, August 2012
Slide 1: 2Q12 Results Presentation
2Q12 Results Presentation August, 2012
Slide 2: Operating & Financial Highlights
Operating & Financial Highlights LAUNCHES PRO RATA PDG REACHED R$ 1.52 BILLION IN THE FIRST HALF OF 2012; NET CONTRACTED SALES PRO RATA PDG OF R$ 3.04 BILLION IN THE FIRST HALF OF 2012; OPERATING QUARTELY SALES OVER TOTAL SUPPLY “VSO” REACHED 23%; HIGHLIGHTS OF 1H12 34% OF THE NEW GUIDANCE OF 2012 H
Slide 3: Revision in the Schedule of Units' Delivery
Revision in the Schedule of Units’ Delivery The charts below show the evolution in the schedule of units delivery (chart in the left) and the units delivery in the first half of 2012 versus the deliveries’ expectation (chart on the right). Revisions in the Deliveries' Schedule PDG Units Delivery: Ex
Slide 4: Units Delivery
Units Delivery The number of units delivered until June totaled 10.2 thousand, distributed across 51 projects. Below we present the track record of delivered units and the new expected timetable of future deliveries for 2012 and 2013. Units Delivered 61% 32 - 35 Ths 32,392 28 - 30 Ths 208% 20,093 6,
Slide 5: Budget Cost Revision PDG
Budget Cost Revision PDG The graphics below show the effects of the analysis of PDG’s project portfolio. Analysis of total 315 Budget cost revision Increase in cost: R$ 478 million 108 construction sites 3.6% of PDGs total project portfolio- R$ 13.2 billion construction sites (34% of the 10.6% of th
Slide 6: Features of Revised Projects
Features of Revised Projects Higher concentration of rebudgeted projects (51% of Total PSV) have its delivery date to the second half of 2012; Revision by Launching Year - (% PDG PSV) Revision by Delivery Year - (% PDG PSV) 53% 51% 27% 29% 20% 12% 8% 2007 - 2009 2010 2011 2H12 2013 2014 2015 The ave
Slide 7: Measures: Higher share of own works
Measures 1) Higher share of own works in PDG’s launches: 64% of unit delivery delays of 2012 have come from works executed by partners or third parties. Advantages: Gain greater control over our projects; Easier to identify deviations in budget during the constructions. Evolution of Launched Units b
Slide 8: Measures: Reduction in units launched
Measures 2) Reduction in the number of residential units launched: Reduced exposure to the low-income segment and higher share in the middle-income segment. Advantages: This strategy allowed us to increase our launched PSV in 2011, while reducing the number of units launched. Growth of 29% in PSV wi
Slide 9: Measures: Greater concentration in the Southeast
Measures 3) Greater concentration in the Southeast: In the first quarter of 2012, 97% of our launches were concentrated in the Southeast Region. Advantages: Greater visibility; Tighter control over our projects in order to avoid delivery delays and improve cost controls. Southeast Concentration - %
Slide 10: Measures: Launch guidance and own personnel
Measures 4) Revision of 2012 Launch Guidance: The new launch guidance for 2012 is between R$ 4.0 billion and R$ 5.0 billion. 5) Hiring of own personnel for execution of the works: Advantages: Increase of our own works personnel in order to guarantee work force in a time of lower supply of workers in
Slide 11: Financial Covenants
Financial Covenants Renogotiation of clauses that permit early maturity of the debentures in case of non-compliance with the financial covenants 1st Case: 1st Debenture issued The clause related to the second quarter of 2012 financial information, and the financial information and statements for the
Slide 12: Comparison After and Before the Revisions
Comparison After and Before the Revisions Provision for Provision for INCOME STATEMENT (R$ '000) 2Q12 Budget Revision 2Q12 Contigencies Warranty (Before Adjustments) (After Adjustments) Impactos Operating Net Revenue 1.481.693 (421.278) 1.060.415 Interest Expenses (114.792) (114.792) Recognition of
Slide 13: Indebtedness
Indebtedness The following table presents the Company debt ratios at the close of 2Q12: Net Debt Variation (Cash Burn) – R$ millions ∆ Cash 261.7 ∆ Debt -612.7 ∆ Net Debt (Without Securitization) -351.0 ∆ Securitization -78.2 ∆ Net Debt (With Securitization) -429.2 REP Investment 18.9 ∆ Net Debt -41
Slide 14: Monitoring of Clients Credit Transfers
Monitoring of Clients Credit Transfers In line with the evolution of deliveries of the company’s units, the credit transfer area has been gaining efficiency progressively. Today, the team has 320 employees dedicated exclusively to transferring clients’ credits to partner banks. Credit transfers* on
Slide 15: Launches & Sales 2Q12
Launches & Sales 2Q12 Launched PSV (PDG´s pro rata stake) totaled R$ 404 million (total PSV of R$ 462 million) in 2Q12, distributed across 8 projects. For the first half of the year, launches totaled R$ 1.5 billion, reaching 34% of the initial point of guidance of launches for 2012 (R$4.0 - R$5.0 bi
Slide 16: Contacts
Contacts: RI: ri@pdg.com.br Phone+ 5521 3504-3800 www.pdg.com.br/ri 16
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