Rodobens Negocios Imobiliarios Announces Fourth Quarter (4Q07) and Full Year 2007 Results
SAO JOSE DO RIO PRETO, Brazil, March 13 /PRNewswire-FirstCall/ -- Rodobens Negocios Imobiliarios (Bovespa: RDNI3) announces today its results for the fourth quarter of 2007 (4Q07) and full year 2007.
2007 Financial and Operating Highlights
- Pre-sales of R$315 million (Rodobens' share only), an increase of 383%
compared to 2006.
-- Rodobens' share increased from 42% (in 2006) to 60% of the total pre- sales (R$528 million in 2007) of the projects in which it participates.
-- 3,674 units sold (vs. 1,050 in 2006), net of cancellations, being 62%
with selling price up to R$150,000.
- Project Launches(1) of R$434 million (Rodobens' share only), a 384%
growth over 2006.
-- Rodobens' share of the total potential sales value (R$718 million) of
those projects increased from 48% (in 2006) to 60% in 2007.
-- 5,187 units launched for pre-sale (vs. 1,272 in 2006), being 82% with
selling price up to R$150,000.
- Net Revenue rose 173% (vs. 2006), reaching R$128 million. Both the
revenues and costs from the real estate development activity are
recognized by the percentage of completion method.
- EBITDA (adjusted(2)) reached R$26 million, with margin of 20.1% of net
revenue (vs. 14.1% in 2006). Excluding the negative impact of interest
expenses recorded as cost of projects, EBITDA was 24.3%.
- Net income reached R$40 million, reflecting the growing operating profit
and the positive impact of the net financial result. This net income
figure includes the negative impact of the IPO-related non-recurring
expenses of R$21 million.
- Cash balance of R$305 million and bank debt of R$60 million as of
December 31, 2007, a comfortable position for the required investments
in working capital during the year 2008.
- Land Bank with a potential sales value currently estimated at
R$3.9 billion (Rodobens' share), and construction potential of 57,000
homes, in 40 municipalities of ten Brazilian states.
(1) Potential total sales value, estimated at launching.
(2) Adjusted EBITDA was calculated excluding R$21 million of non-recurring
expenses related to the IPO closed in February 2007.
Contacts: Investor Relations
Orlando Viscardi
Tel.: (55) 17-2137-1754/3/2
E-mail: ri-rni@rodobens.com.br
Conference Call 4Q07 and 2007 Results:
Portuguese English
March 14, 8:00am (US ET) March 14, 10:00am (US ET)
Tel.: 55-11-4688-6301 Brazil: 55-11-4688-6301
Access code: Rodobens EUA: 1-888-700-0802
Other countries: 1-786-924-6977
Access Code: Rodobens
The Conference Call will have a presentation that will be available at our website for download website: www.rodobens-rni.com.br/ir
First Call Analyst:
FCMN Contact:
Source: Rodobens Negocios Imobiliarios
CONTACT: Investors, Orlando Viscardi, Rodobens Negocios Imobiliarios,
+011-5517-2137-1754 or +011-5517-2137-1753 or +011-5517-2137-1752,
ri-rni@rodobens.com.br
Web site: http://www.rodobens.com.br/ri
2008-03-13 17:28:39 0312401 PRNEWSWIRE