Gafisa S.a. · BMFBOVESPA:GFSA3
Gafisa — Investor Presentation (June 2013)
19 slides from Gafisa's investor presentation, Jun 26, 2013
Slide 1: Gafisa Corporate Presentation
Gafisa Corporate Presentation 5, 2013 June 26,
Slide 2: Safe-Harbor Statement
Safe-Harbor Statement We make forward-looking statements that are subject to risks and uncertainties, These statements are based on the beliefs and assumptions of our management, and on information currently available to us, Forward-looking statements include statements regarding our intent, belief
Slide 3: Gafisa: Evolution
Gafisa: Evolution Business Focus in Core Market Regions Nationwide Real Estate Developer Regional Player » High Growth Rates » Hew Management Structure » Organic Growth Strategy (partners new markets) heads responsible for the P&L > Growth via Acquisition Strategy Regional Focus 2010: New Follo-On:
Slide 4: Updated Status of the Turnaround
2012 2013 Updated Status of the Turnaround Gafisa Completed the 15‘ Cycle of the Turnaround Strategy in 2012 = Throughout 2012, we have positioned ourselves conservatively, prioritizing cash flow and net debt reduction, restructuring our debt profile and reducing launches. ./Established a new operat
Slide 5: Gafisa Well Defined Strategy
Gafisa Well Defined Strategy Financial and Investment Discipline Gafisa’s Strategy Establish itself as the leader in residential development company in Brazil in terms profitability and product quality VA VA Achieve and Maintain an Adequate level of Leverage ratio Focus on Profitable Opportunities B
Slide 6: Recent Events - Gafisa SA Enters Into an Agreement to Sell Stake in Alphaville
Recent Events - Gafisa SA Enters Into an Agreement to Sell 70% Stake in alphaville to Blackstone and Patria The cash proceeds will reduce leverage and remove financial constraints, thereby enabling greater focus on operational performance = Gafisa S.A. today announced it has signed an agreement to s
Slide 7: Net Debt / Shareholders' Equity
Net Debt / Shareholders’ Equity 0.95x 2.485 Totaldebt Cash —_Net debt Note: Unaudited pro-forma preliminary estimated results 1 Does not include obligations related to securitization of RSXXX mm 2 Postoffering on pro forma basis on 1013. Leverage 1Q13 vs Pro-forma Post Transaction Proceeds transacti
Slide 8: Gafisa Segment Post-Transaction
AGafisa Gafisa Segment Post-Transaction Business as usual Launches (RS), 4.55 407 Pre-Sales (R$) 1.913 2.180 1974 152 2006 2007 2008 2009-2010 2011 2012 ood he aub Re Dune! Seal dane antinzanie mSP ©RJ NM een Nn Sales Speed Net Revenues (R$) qe op on a See 2006 2007 +2008 | 2009 2010 «20112012
Slide 9: Relaunch of Tenda under New Business Model
oO TENDA Construindo Felicidade Relaunch of Tenda under New Business Model The resumption of operations, following restructuring of operational and financial cycle in 2012, which is proceeding in a cautious manner, is expected to maximize the segment’s potential within the Group. = Tenda’s operation
Slide 10: Tenda's New Business Model Workflow
Tenda’s New Business Model Workflow (2) Purchase of Land and Development v Phase 1 Purchases a parcel of land (on Which it can build 2 number of homes) or subdivides the land into lots to build multiple projects that will be launched in phases. Tenda targets areas where customers make 3-6 times the
Slide 11: Consolidated Margins Have Not Yet Returned to Normalized Levels
Consolidated Margins Have Not Yet Returned to Normalized Levels Majority of legacy projects with lower Margins, to be delivered in 2013 i / oO TENDA | alphaville Launches (2012A) R$1.61bn l RSOmn | R$1.34bn % of Launches (2012A) 54% i 0% | 46% Launches (2013) RS1.15-1.35bn | RS260-450mn | R81.3-1.5b
Slide 12: Consolidated Margins Have Not Yet Returned to Normalized Levels (1Q13)
Launches (1013A) % of Launches (1013A) Launches (2013E) % of Launches (2013E)1 Contracted Sales (113A) % of Contracted Sales (1013A) Net Revenues (1013A) % of Revenues (113A) Gross Margin % (1013A) EBITDA Margin % (113A) R$82mn 27% RS1.15-1.35bn, 42% R$101mn 46% R$367mn 55% 24% 12% R$114mn 37% R$250
Slide 13: Backlog of Results
Backlog of Results Gafisa Group Consolidated Results to Be Recognized (REF) (R$ million) ee <1 |e 0) Results to be recognized 3,309,913 3,676,320 10% 3,616,289 8% Costs to be incurred (units sold) (2,020,410) (2,226,575) 9% (2,338,561) -14% Results to be Recognized 1,289,503 1,449,745 11% 1,277,728
Slide 14: Receivables + Inventory vs Construction Obligations
Receivables + Inventory vs Construction Obligations R$ million Receivables Inventory at market value Total Gafisa (A) 3.678.097 1.921.120 5.599.217 4.753.981 Alphaville (B) 1.746.194 808.927 2.555.121 698.304 Tenda (C) 1.243.188 772.992 2.016.180 463.716 Total (A) + (B) + (C) 6.667.479 3.503.039 10.
Slide 15: Launches, Sales, Cancellations and SoS
Launches, Sales, Cancellations and SoS S Launches Dissolution Pre-Sales Agjuat + Tie) Q-0-Q; VSO: Others Gee Gafisa (A) 1,983,694 83,029 191,572 (292,688) (44,486) 1,921,120 3.2% 5.0% Alphaville (B) 812,174 110,828 57,420 (167,799) (3,696) 808,927 0.4% 12.0% Total (A)+(B) 2,795,867 _ 193.857 248.992
Slide 16: Consolidated Land Bank
Consolidated Land Bank foie |e Launches oherbo sa] 108 | 4713 \ %Swap %Swap %Financial #Potential # Potential Total _untis __Swap__Units(%co) Units 100% 5.343.612 150.388 83.029 74.164 5.485.136 38% 37% 1% 10623 12.115 1.900.797 59.653 113.696 165.869 2.002.622 20% 20% 10% 17.728 17.128 1.434.261 1.
Slide 17: Outlook
Outlook Launch Guidance — 2013 Estimates Guidance (2013) Consollidated Launches R$2,7 — R$3,3 bi Breadown by Brand Launches Gafisa Launches Alphaville Launches Tenda RS1,15 — R$1,35 bi RS1,3 — RS1,5 bi RS250— RS450 mn Actual numbers 1Q13A 307mn 83 mn 111mn 114 mn Delivery Estimates 2013E Guidance (2
Slide 18: Appendix
Appendix Size (m?) # units Average price Typical project margins Cash exposure / Total Sales Mortgage Provider [Note 1: Launches for 2013 are expected to be between RS2.7 and RS3.3 bilion, reflecting a new, more targeted regional focus. Gafisa should represent 42%, Tenda 12% >R$500.000 37% 30-35% Co
Slide 19: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: June 26, 2013 Gafisa S.A. By: /s/ Alceu Duílio Calciolari Name: Alceu Duílio Calciolari Title: Chi