RESULTS 2Q18 AUGUST 10, 2018

Transcription

1 RESULTS AUGUST 10, 2018

2 PARTICIPANTS EFRAIM HORN CO-CEO PAULO GONÇALVES IR & STRUCTURED FINANCE DIRECTOR

3 CYRELA S HIGHLIGHTS Launches of R$ 981 million in, 126% higher than and 53% higher than. In the semester, launches of R$ 1.4 billion, 13% higher than the 6M17. Pre-Sales of R$ 1,061 million in, 73% higher than and 40% higher than. In the semester, R$ 1.7 billion of pre-sales, 31% higher than the 6M17. Net Revenue of R$ 640 million in vs. R$ 451 million in and 11% higher than. In the semestrer, R$ 1.1 billion os net revenue, 10% lower than the 6M17. Gross Margin of 26.8% in, a decrease of 0.9 p.p. vs. and 0.1 p.p higher than. In the semestrer, gross margin of 27.2%, 1.7 p.p lower than the 6M17. Net Loss of R$ 28 million in, versus net loss of R$ 51 million in and R$ 141 million in. In the semester, net loss of R$ 80 million. In, Cash Generation of R$ 181 million vs. R$ 182 million in. Net Debt / Equity of 14.4% in vs. 16.8% in. ROE of -0.7% (Net Income LTM / Average Equity LTM, without minorities).

4 OPERATING FIGURES

5 CYRELA S LAUNCHES R$ 981 million in vs. R$ 640 million in. In, %CBR of 65% vs. 70% in. Launches Ex-swap (%CBR) Launches per Region 2018 (R$ million) +13% +53% ,416 1, % 856 São Paulo - Other Cities 12.4% São Paulo 18.7% 54.3% Rio de Janeiro % % South Middle West 6M17 6M18 6M17 6M18 % CBR 70% 65% 79% 64% Partners Launches % CBR

6 LAUNCHES - HIGHLIGHTS Find more about Living Privilège Find more about Living Elegance

7 CYRELA S PRE-SALES %CBR of 66% in. Inventory sales in represent 52% of total sales. Pre - sales Ex-Swap (%CBR) Pre Sales by Region 2018 (R$ million) +31% 1, % 1, , , (R$ million ) +13% 1, Norte e Outros Nordeste Sul 1.8% 2.7% 3.5% Rio de Janeiro 17.5% São Paulo - Interior 8.8% 65.7% São Paulo 6M17 6M18 6M17 6M18 % CBR 75% 66% 73% 65% High-end Middle + MCMV

8 SALES SPEED The SOS 12M of attained 37.9%. Pre Sales by Launch Period Sales Speed (R$ million) +31% 1,674 31% 16% 9% 6% 65% % 1, , Q17 4Q17 29% 44% 50% 28% 3% 20% 14% 9% 57% 6% 67% 7% 83% 6M17 6M18 51% 51% Quarter s Launches Previous Quarters Launches Previous Years Launches In 3 months In 6 months In 9 months In 12 months In 15 months

9 INVENTORY R$ 5.8 billion in inventories (R$ 4.8 billion %CBR); 54% of finished units inventories. PSV - Inventory Change in Inventory (R$ million) 5,913 2, % 5,789 3,102 5,913 (R$ million) % ,789 3,318 2,687 FU/TI* 44% 54% Inventory Sales of inventories Launches Sales of launches Price change Inventory Finished units Units under construction Units under Construction Finished Units *: FU = Finished Units / TI = Total Inventory

10 FINISHED UNITS R$ 3,102 million of finished units inventories (vs. R$ 2,595 million in ). Finished Units Breakdown (R$ million) 2, % ,102 North Others São Paulo South 1.4% 3.7% 15.9% 14.6% Northeast 4.3% São Paulo - Other Cities 22.7% 37.4% Rio de Janeiro Finished Units Sales of finished units PSV Delivered Price change Finished Units

11 DELIVERED UNITS Delivered Units Delivered PSV (thd units) (R$ billion) High end Middle + MCMV +36% 3, % % +71% 2,145 1,005 1,587 1, ,309 1, ,875 1, M17 6M18 6M17 6M thousand units delivered in, in 17 projects. In the semester, 8.3 thd. units in 30 projects. Middle + MCMV: 4.0 thousand units delivered in 9 project in. In first semester, 6.6 thd. units delivered in 18 projects. The units delivered in represent launches PSV of R$ 2.1 billion. In the 6M18, the PSV delivered represented R$ 3.15 billion.

12 FINANCIAL RESULTS

13 FINANCIAL RESULTS (R$ million) Margin Gross Revenue Gross Income and Gross Margin -10% 1,248 1,122-16% +11% +42% 26.7% 26.8% 27.7% 28.9% 27.2% % +37% M17 6M18 6M17 6M18 Net Income and Net Margin % % % -24.5% -11.3% 6M17 6M18 * Previous periods are presented in pro forma way, considering MAC thru Equity Results.

14 PROFITABILITY ROE Earnings per Share ¹ -0.7% % -1.9% -1.6% Q17 4Q17-2.6% EPS Shares ex-treasury The Return on Equity (Net Income LTM / Equity average LTM ex-minorities) attained -0.7%. Earnings Per Share of -R$ 0.07 in. ¹ Calculus: Net Income of the quarters / Number of shares minus treasury shares as of June 30, 2017.

15 TRANSFERS, PAYOFFS AND TRUST OF DEEDS Volume Units (R$ million) +27% +27% (Thd. units) +23% +39% Payoffs Trust of Deeds Transfers In, the volume of transfers, payoffs and trust of deeds attained R$ 940 million, 27% higher than and. * Previous periods are presented in pro forma way, considering MAC thru Equity Results.

16 CASH GENERATION* (R$ million) +80% % -0.5% M17 6M18 Stake Acquisition Cash generation of R$ 181 million in vs. R$ 182 million in. * Previous periods are presented in pro forma way, considering MAC thru Equity Results. *Ex dividend payment, buyback program and stake acquisition.

17 LIQUIDITY AND DEBT Net Debt / Equity attained 14.4%. Debt (R$ billion) Corp. 2.1 SFH Corp. 1.2 SFH Corp. 1.1 SFH Short 1.3 Long Indicators Net Debt/ Equity Average Cost Total Debt 14.4 % Debt Ex-SFH W/o SFH: 100% CDI SFH: TR + 9.1% p.y. Duration 1.8 year 1.6 year Short Term 45% 52% Long Term 55% 48% Gross Debt 27.3% Gross Debt (pro forma) Gross Debt 16.8% 14.4% Term Cash and Cash Equivalents Net Debt Net debt: R$ -237 million (Without SFH*) Net Debt / Equity

18 CONTACT IR Cyrela Brazil Realty S.A. Empreendimentos e Participações Av. Brigadeiro Faria Lima, 3.600, 12th Floor São Paulo - SP Brasil CEP Investor Relations ri@cyrela.com.br Statements contained in this press release may contain information which is forward-looking and reflects management's current view and estimates of future economic circumstances, industry conditions, company performance and the financial results of Cyrela Brazil Realty. These are just projections and, as such, exclusively based on management's expectations of Cyrela Brazil Realty regarding future business and continuous access to capital to finance the Company's business plan. Such future considerations rely substantially on changes in market conditions, government rules, competitor's pressure, segment performance and the Brazilian economy, among other factors, in addition to the risks presented on the released documents filed by Cyrela Brazil Realty, and therefore can be modified without prior notice. 18