2Q10 Fact Sheet

2Q10 Fact Sheet

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  2Q10 Fact Sheet CompanyProfile 2Q10 Highlights Gafisa is a leading diversified national homebuilder serving Consolidated launches totaled R$ 1 billion for the quarter, a 61% increase over 2Q09, Tenda launched R$ 290 million in the all demographic segments and is present across 21 states quarter, or 29% of the total amount launched in 2Q10. in the Brazilian market. Established over 55 years ago, our Launches per company per unit price marquee brands include, Tenda, serving the affordable entry (%Gafisa) - R$ 000 2Q10 2Q09 Var(%) 1H10 1H09 Var(%) level housing segments and Gafisa and Alphaville, offering Gafisa ≤ R$500 K 222,272 224,958 -1% 365,088 303,517 20% a variety of residential options to the mid to higher income > R$500 K 268,362 127,040 111% 434,843 133% 186,843 segments. Recognized as one of the foremost professionally- Others Total 490,634 351,998 39% 799,932 490,360 63% managed homebuilders, “Gafisa” is also one of the best- 18% SP Units 1,143 813 41% 1,886 1,291 46% GO known brands in the real estate development market, enjoying 48% Alphaville > R$100 K; 5% ≤ R$500 K 227,483 82,466 176% 324,752 104,347 211% a strong reputation among potential homebuyers, brokers, MG Total 227,483 82,466 176% 324,752 104,347 211% lenders, landowners, and competitors for quality, consistency, 8% Units 681 267 155% 1,033 439 135% and professionalism. Gafisa S.A. upholds one of the highest ES Tenda 1) ≤ R$130 K 216,666 64,079 238% 436,515 64,079 581% 6% > R$130 K standards of corporate governance as the only Brazilian real DF <200 K 73,745 127,739 -42% 150,539 127,739 18% 10% RJ estate company with an NYSE ADR traded under ticker GFA. In 6% Total 290,411 191,818 51% 587,054 191,818 206% Units 2,574 1,488 73% 5,362 1,488 260% Brazil we are traded under the symbol of GFSA3 on the New Consolidated Total 1,008,528 626,282 61% 1,711,738 786,525 118% Market of the BM&FBOVESPA. Units 4,398 2,568 71% 8,281 3,219 157% 1) Includes Tenda and Fit Residencial in 2009 Pre-sales reached R$ 889,8 million for the quarter, a 7% increase as compared to first quarter of 2009. In the first quarter of Outlook for 2010 2010, pre-sales reached R$ 1,747 million, a 25% increase as compared to 1H09. Sales per company per unit price - PSV Launches in the range of R$ 4 billion to R$ 5 billion; (%Gafisa) - R$ 000 2Q10 2Q09 Var(%) 1H10 1H09 Var(%) Consolidated EBITDA Margin: between 18,5% - 20,5%. Gafisa ≤ R$ 500,000 196,795 216,353 -9% 519,492 396,639 31% > R$ 500,000 259,463 173,318 50% 312,645 263,163 19% Total 456,258 389,671 17% 832,138 659,802 26% MA BA Units 1,088 1,123 -3% 2,038 1,850 10% 5% PR 5% SP ≤ R$ 100,000; - - - 27,450 19,569 40% Recent Developments 6% 46% Alphaville > R$ 100,000; ≤ R$ 500,000 128,792 78,959 63% 214,223 92,241 132% > R$ 500,000 - - - 3,762 2,529 49% Improved Operating Margin: Gafisa improved its Others Total 128,792 78,959 63% 245,435 114,338 115% operating margin during the quarter with a consolidated 25% Units 424 406 5% 997 622 60% adjusted EBITDA Margin of 19,8%, compared to 15,8% Tenda 1) ≤ R$ 130,000 225,846 326,916 -31% 488,319 546,021 -11% RJ in the 2Q09; >130,000 78,865 39,897 98% 181,191 73,845 145% 12% Total 304,711 366,813 -17% 669,510 619,867 8% Alphaville Launches 6 Developments: In addition Units 2,964 4,366 -32% 6,694 7,523 -11% Total 889,761 835,443 6.5% 1,747,082 1,394,008 25% to posting strong sales numbers, the Alphaville unit Consolidated Units 4,476 5,894 -24% 9,729 9,995 -3% extended the footprint of its well-recognized brand 1) Includes Tenda and Fit Residencial in 2008 during the quarter; Net operating revenues, recognized by the Percentage of Completion (“PoC”) method, rose 31% to R$ 927,4 million from R$ 705,8 million Use of Innovative Construction Techniques: Gafisa’s in the 2Q10, reflecting a strong pace of execution; subsidiary Tenda has already employed innovative aluminum molds in seven projects under construction, Adjusted EBITDA reached R$ 184 million with a 19,8%, margin, a 66% increase when compared to Adjusted EBITDA of R$ 111,3 million and expects to use this technology in a total of 15 reached in the 2Q09, mainly due to the strong performance in all segments; projects through the end of 2010; Net Income before minorities, stock option and non recurring expenses was R$114,1 million for the quarter (12,3% adjusted net margin), Increased Mortgage Transfer to Caixa: We an increase of 41% compared with the R$ 81.1 million in the 2Q09; contracted 6,239 units and transferred 2,515 mortgages during the 2Q10; The Backlog of Revenues to be recognized under the PoC method reached R$ 3.2 billion vs R$ 2,9 billion in the 1Q09, an increase of 9%. Tenda’s Average unit price: Tenda continues to be The Margin to be recognized improved 125 bps to 36,4%; well positioned to meet growing demand for the MCMV program, In the 1H10 the average launch price per unit Gafisa’s consolidated land bank totaled R$15.8 billion in the 2Q10, with net acquisitions of R$ 121 million over the last quarter, reflecting was R$ 109 thousand while the average sales price was the internal policy of the Company to keep an average of 2 – 3 years of Land bank; R$ 100 thousand. Gafisa’s consolidated cash position exceeded R$ 1.8 billion at the end of June, supporting the Company’s strategy to fund and execute its growth plan. 1 : Reflects accounting changes according to Law 11.638 and CVM Instruction 561.
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  2Q10 Fact Sheet Gafisa’sNational Footprint Land Bank Gafisa is consolidating its national presence and currently has198 projects under construction, The Company’s land bank of approximately R$ 15.8 billion is composed of 198 different and is present in 23 states (including Distrito Federal): projects in 23 states, equivalent to more than 90 thousand units. In line with our strategy, 39% of our land bank was acquired through swaps – which require no cash obligations. The size of our land bank continued to benefit from the disbursement of a portion of the proceeds raised in the follow-on offering concluded in 1Q10. At the end of June we recorded a net increase of R$ 121 million in the land bank, reflecting acquisitions that more than compensate the R$1 billion launches in the quarter. Affordable entry level represents 47% of potencial Gafisa units in land bank. PSV - R$ million % Swap % Swap % Swap Potencial Units (%Gafisa) Total Units Financial (%Gafisa) Gafisa ≤ R$500 K 4,261 52.4% 45.0% 7.4% 14,291 > R$500 K 3,237 31.5% 29.3% 2.1% 4,077 Total 7,497 41.3% 36.7% 4.6% 18,368 Alphaville ≤ R$100 K; 604 100.0% 0.0% 100.0% 9,132 > R$100 K; ≤ 3,594 97.4% 0.0% 97.4% 20,008 R$500 K > R$500 K 100 0.0% 0.0% 0.0% 130 Total 4,298 96.8% 0.0% 96.8% 29,270 Tenda ≤ R$130 K 3,568 31.4% 31.4% 0.0% 37,188 > R$130 K; < 404 0.0% 0.0% 0.0% 5,775 R$200 K Brand States Cities Legend Total 3,972 31.4% 31.4% 0.0% 42,963 Consolidated 15,768 39.3% 35.5% 3.8% 90,601 14 44 14 91 22 55 Urbanismos S.A. Gafisa: The Most Liquid Brazilian Real Estate Consolidated 23 129 Company and the Only One Listed on NYSE Gafisa Equity Competitive Strenghts Price and Volume vs. Time Large land bank to sustain National reach future growth Well-developed & strong local and recognized partnerships brands Professional management with a Reputation for significant pipeline financial discipline of talent The strongest Focus on the platform to sustain residential market in leadership in the all income segments rapidly growing lower income segments Averege Volume Price GFSA3 (R$ / Share) Source Bloomberg: july 30th data base Over the last 55 years Gafisa has created a powerful platform for growth enhanced by one of the largest and most diverse land banks in the sector and teams focused on delivering high quality products within budget and on time to all segments of the Brazilian World-class Shareholder and High Standards population. Our brand enhances our ability to continue to sell our product rapidly and attract the strongest partners. Furthermore, our capital structure, strong cash position and of Corporate Governance dual-listed equity will continue to support our accelerated growth. Gafisa is the only Brazilian real estate company listed on the NYSE. Gafisa’s shares are listed on the Novo Mercado segment of the Bovespa (São Paulo Stock Exchange), which brings together companies committed to adopting a higher standard of transparency in corporate governance Leadership and Strong Brand Recognition practices that goes beyond the legal requirements. Gafisa’s shares and ADRs have the highest Buyers trust the excellence of Gafisa products and know that the company will deliver liquidity in the real estate sector. In addition, our management is backed by Equity International, quality developments in a timely manner. Rapid sales confirm the strength of the brand an institutional shareholder with a successful track record. and its solid reputation among potential property buyers, agents, financers, landowners as well as our competitors. GFSA3 GFA NOVO MERCADO Professional Management and Organization 100% The organizational structure, with independent management at Gafisa, Tenda and AlphaVille, is in line with the strategy of expanding the product portfolio and nationwide presence, which is essential for sustained long-term growth. Ratings 80% 100% Moody´s (Ba2) Moody´s National (A1. br) S&P National (br A-) Fitch (A-bra) Urbanismos S.A.
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  2Q10 Launches Gafisa completed22 developments or phases during 2Q10, representing R$ 631 million of PSV. Gafisa: 4 projects/phases, 614 units, R$ 200 million Alphaville: 6 projects/phases, 1,762 units, R$ 254 million Tenda: 12 projects/phases, 2,406 units, R$ 177 million MAIN LAUNCHES GAFISA GAFISA MAGIC Delivery: June Launch: Jun-07 Local: São Paulo – SP %Gafisa: 100% Units (%Gafisa): 268 PSV (%Gafisa): 87.129 GAFISA RESERVA DO LAGO Delivery: June Launch: May-07 Local: Goiânia - GO %Gafisa: 100% Units (%Gafisa): 48 PSV (%Gafisa): 24.567
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  MAIN LAUNCHES TENDA TENDA VALLE VERDE COTIA FASE 5b Delivery: June Launch: July-09 Local: Cotia - SP %Gafisa: 100% Units (%Gafisa): 448 PSV (%Gafisa): 38.000 MAIN LAUNCHES ALPHAVILLE ALPHAVILLE CUIABÁ Delivery: June Launch: May-08 Local: Cuiabá - MT %Gafisa: 60% Units (%Gafisa): 254 PSV (%Gafisa): 24.112 Contact Information: Luiz Mauricio Garcia Investor Relations Manager Phone.: +55 (11) 3025-9297 IR Website: www.gafisa.com.br/ir E-mail:[email protected]