Melnick Desenvolvimento Imobiliario Sa · BMFBOVESPA:MELK3
Melnick Desenvolvimento Imobiliario Sa — 4Q21 Earnings Presentation
18 slides from Melnick Desenvolvimento Imobiliario Sa's earnings presentation, Mar 23, 2022
Slide 1: Earnings Release 4Q21
Earnings Release 4Q21 March 23. 2022 metnick 5O
Slide 2: Disclosure Highlights
DISCLOSURE HIGHLIGHTS Launched PSV volume (1) Net profit +62% +40% 1.109 83 960 72 932 830 760 58 58 59 727 686 53 662 579 541 409 427 808 500 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 16 17 18 19 20 21 We reached R$1.1 billion in launches in 2021, the highest We reached R$83 milli
Slide 3: Launches
LAUNCHES Gross PSV(1) (R$ Melnick’s PSV (R$ Projects Business Unit.(2) Segment ‘000) ‘000) 1º trimestre Go Rio Branco R.E 93.933 71.394 183 Residencial Grand Park Lindóia – F3 R.E. 117.158 89.599 190 Residencial Casa Viva LOT 77.721 43.582 332 Lot development Botanique R.E. 181.676 130.346 103 Resid
Slide 4: Launches
LAUNCHES R$94 mm of PSV R$117 mm of PSV R$77 mm of PSV R$182 mm of PSV 90% sold 54% sold 100% sold 42% sold Earnings Release | 4Q21 | March 23. 2022 4
Slide 5: Launches
LAUNCHES R$134 mm of PSV R$55 mm of PSV R$192 mm of PSV 30% sold 24% sold 55% sold Earnings Release | 4Q21 | March 23. 2022 5
Slide 6: Launches
LAUNCHES R$71 mm of PSV R$186 mm of PSV 40% sold 29% sold Earnings Release | 4Q21 | March 23. 2022 6
Slide 7: Net Sales
NET SALES Opening per quarter (Melnick’s share – R$’000): Total sales in the quarter: (R$’000): Open Lot development Launch Sales Inventory Sales Inventory SOS 4% 11% Launch SOS Quarterly SOS 800 31% 31% 50% 700 16% 21% 85% 12% 14% 14% 16% Real Estate 600 11% 9% 12% 13% 0% 10% 3% 7% 500 Total sales
Slide 8: Inventory
INVENTORY Opening by year of completion (Melnick's share– R$ '000): Finished inventory (Melnick's share– R$ '000): PSV of concluded units PSV of units under construction Reversible lease strategy 70% under construction and 60% will be delivered in 2024 or after 1.032 1.052 293 312 Inventory 3Q21 Lau
Slide 9: Land Bank: R$ 3.8 bi of potential PSV
LAND BANK Changes in the land bank in the quarter (potential PSV in R$’000): 100% 383 399 90% 80% 23% 70% Form of acquisition: 60% 50% 3.798 3.782 Cash Swap 40% 30% 20% 78% 10% 0% PSV 3Q21 3Q21 Acquisitions 4Q21 Launch and other PSV 4Q21 R$ 3.8 bi of potencial PSV (Melnick’s share) 34 lands or phase
Slide 10: Land Bank: Short-Term R$ 1,8 bi PSV potential
LAND BANK Short-Term Land Bank (Potential PSV in R$ bi): Metropolitan regions Higher Prices Lower Prices No information Short-term Land bank R$ 1,8 bi¹ PSV potential Earnings Release | 4Q21 | March 23. 2022 10
Slide 11: Business Units: Urbanizadora
BUSINESS UNITS URBANIZADORA Last four launches partnership with 11 projects launched with +R$ 830mm of PSV Passo Fundo – Launch in 4Q19 Xangri-lá – Launch in 1Q20 Present in 10 cities in RS Santa Maria – Launch in 1Q21 Xangri-lá – Launch in 1Q22 Land bank of R$ 1.5 billion 11 Earnings Release | 4Q21
Slide 12: Business Units: Small/Medium Business Partnerships
BUSINESS UNITS Focus on the highest range of Casa Verde e Amarela Small/Medium Business Partnerships Operation 100% Melnick 3 signed + some in the pipeline 2 projects launched + 1 in pre-launch Open Protásio (POA) – pre-launch Operate with PSVs lower than R$115mm of PSV Melnick's average. Partnershi
Slide 13: Financial Performance
FINANCIAL PERFORMANCE Evolution of Net Revenue: Evolution of Gross Profit and Gross Margin: Net Revenue (R$ '000) POC Progress Gross Profit (R$ million) Gross Margin (ex-financing) 3 50 26,3% 3 00 24,7% 30 ,0 % 26,1% 24,5% 26,6% 200 23,8% 25 ,0 % 17,4% 2 50 40 ,0% 180 600 113 120 160 20,0% 185 109 2
Slide 14: Provision for Cancellation
PROVISION FOR CANCELLATION Breakdown Provision for Cancellations (PSV R$’000): 147 17 124 8 2 Provision for compliant 80 72 Provision for 67 defaulters 52 Customer cancellations Customer cancellations Provision for Other Prov. of cancelations past due past due compliant movements 4Q21 Balance Sheet
Slide 15: Expenditure Structure
EXPENDITURE STRUCTURE Evolution of General and Administrative Expenses: Evolution of Selling Expenses: +29% G&A (R$ '000) G&A/ROL(LTM) +75% Selling (R$ '000) Selling/ROL(LTM) 58 50 7% 48 50 8% 9% 45 6% 45 7% 6% 7% 7% 7% 8% 40 5% 5% 5% 5% 40 7% 35 5% 35 42 6% 30 4% 27 30 5% 25 25 19 4% 20 3% 20 17 12
Slide 16: Financial Solidity
FINANCIAL SOLIDITY Debt Return to shareholders 268 Dividend distribution of R$56 mm Share repurchases R$ 32 mm 12 + R$ 18 mm of additional dividends 1 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Cash position Cash burn 28,6 R$401 mm of cash (3,4) (22,9) 33% of equity (53,1) (65,8) 50% of market cap 4Q20 1Q21 2Q21
Slide 17: Thank You!
THANK YOU! Sign up our mailing list and stay updated on Melnick. ri.melnick.com.br Vinicius Mastrorosa – CFO and IRO Maria Luiza – Controller and RI Manager +55 (51) 3016-9083 ri@melnick.com.br 17
Slide 18: Disclaimer
DISCLAIMER This presentation provides general background information about Melnick Desenvolvimento Imobiliário S.A.. and its subsidiaries (jointly “Melnick” or “Company”) on the date of this presentation. It was prepared exclusively for presentations related to the disclosure of the Company’s result
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