SAO PAULO, Brazil, Aug. 11 /PRNewswire-FirstCall/ -- EZTEC S.A.
(BOVESPA: EZTC3), one of the most profitable publicly-held companies in
Brazil's real estate industry, announces today its results for the 2Q08. To
access the full release please, and information about the Results Conference
Calls that will be held on 08/12/2008, access the website www.eztec.com.br/ir
Highlights
-- On June 30, 2008, EZTEC's land bank represented own potential sales
(PSV) of R$3.5 billion. In the quarter, the Company acquired 2 lots in Sao
Paulo, with estimated own PSV of R$90.8 million. The average land bank
acquisition cost was 9% of PSV.
-- As per the notice to the market dated August 7, 2008, the decree
declaring the Bandeirantes Project area in the public interest was repealed,
allowing EZTEC to continue its development of the project.
-- In 2Q08, EZTEC launched 5 developments with 948 units and own PSV of
R$218.4 million.
-- EZTEC's share of contracted sales in the quarter was R$145.4 million,
29% higher year on year. In 1H08, contracted sales totaled R$246.5 million.
-- Net Revenue rose to R$89.5 million in the quarter, up 74% year on year.
In 1H08, net revenue was R$151.9 million, up a strong 105% year on year.
-- EBITDA totaled R$28.7 million in the quarter, with EBITDA margin of
32.0%. Net Income was R$33.1 with net margin 37.0%.
-- EZTEC closed 1H08 with Net Cash of R$245.1 million and receivables from
performing developments of R$68.1 million.
-- In April, the stock buyback program for the company's common shares was
approved for a period of 365 days. The Company repurchased 1,051,300 shares,
corresponding to 22% of the total amount approved by the program.
Contact
Joao Pessoa de Andrade
(55 11) 5056-8313
About EZTEC
With a 29-year history, EZTEC is one of the most profitable publicly held
companies within the Brazilian real estate industry. Through its entirely
integrated business model, the Company has already launched 48 projects,
totaling 1.1 million square meters including built area and area under
construction, and 8,268 units. EZTEC S.A. is listed on the Bovespa's Novo
Mercado segment under the ticker EZTC3.
SOURCE EZTEC S.A.
Joao Pessoa de Andrade, EZTEC S.A., +55-11-5056-8313
