SAO PAULO, BRAZIL--(Marketwire - August 5, 2010) - Lopes - LPS Brasil (BOVESPA: LPSB3) (REUTERS: LPSB3.SA) (BLOOMBERG: LPSB3.BZ), the largest residential consultancy and brokerage Company in Brazil announces today its results for 2Q10.
Highlights:
- In this quarter, Lopes reached the highest levels of its key indicators: Contracted Sales, Mortgages, Net Revenue, EBITDA and Net Income.
- Contracted Sales totaled R$3.4 billion in 2Q10, 56% higher than 2Q09.
- Lopes sold 12,369 units in Brazil in 2Q10, 49% higher than 2Q09, of which 34% were in the low-income segment (units prices up to R$150,000).
- Sales Speed Over Supply stood at 36.4%, when isolating the low-income segment, Habitcasa's Sales Speed Over Supply was 65.4% in the quarter, both among one of the largest sales speeds of the sector.
- In 2Q10, CrediPronto! granted mortgage loans worth R$146.0 million. Since its operational startup, CrediPronto! has registered mortgage portfolio of R$436.8 million.
- The Company takes this opportunity to announce the new financing guidance for CrediPronto! for 2010, which is R$500 million.
- Lopes Net Revenue totaled R$80 million, an increase of 48% when compared to the 2Q09.
- Pro-forma EBITDA in 2Q10 was R$39.1 million, an increase of 82% over 2Q09. Pro-forma EBITDA Margin in the period was 49%.
- Lopes posted Pro-forma Net Income of R$24.0 million in 2Q10, up 121% on the same period last year. Pro-forma Net Margin was 30% in 2Q10.
- In line with its M&A strategy, Lopes has already acquired VNC in São Paulo and Self in Niterói, Rio de Janeiro, both focused in the secondary market. The Company also structured the foundation for the acquisition of the control of Patrimóvel, in Rio de Janeiro.
Conference Call
August 06th, 2010
09h00 am (NY) - Portuguese
11h00 am (NY) - English
Website: www.lopes.com.br/ir
Telephone: 55 11 4688-6361*
Telephone USA: (+1) 888-700-0802
Telephone (other countries): (+1) 888 700 0802*
Code: Lopes
*Please access 10 minutes prior to the start of the call
Replay: http://webcall.riweb.com.br/lopes/20100608/english/index.asp
Contact Information:
For further information, contact Lopes' Investor Relations Department:
Marcello Leone
CFO & IRO
Tel: +55 (11) 3067-0015
Samia Nemer
IR Coordinator
Tel: +55 (11) 3067-0257
E-mail: ri@lopes.com.br
www.lopes.com.br/ri