São Paulo, January 11, 2013
TECNISA S.A. Operational Preview - 4Q12 Launches reached R$ 511 million in 4Q12 and surpassed R$ 1.0 billion in 2012. Contracted Sales amounted to R$ 230 million in the quarter and totaled R$ 1.1 billion in the year.TECNISA S.A. (BM&FBOVESPA: TCSA3), one of the largest residential developers in Brazil, operating with an integrated business model that includes development, construction and brokerage operations, announces today its preliminary operating performance for the fourth quarter of 2012 (4Q12) and 2012. These results are unaudited and subject to change.
Launches
In 4Q12, TECNISA launched R$ 511 million, TECNISA's share, compared to R$ 396 million launched in 3Q12, representing an increase of 29%. Six new projects were launched, with 2 being in the Premium brand and 4 Flex brand.
In 2012, TECNISA's launchings reached R$ 1,011 million, fully meeting 2012 guidance.
2,116
1,016
396 511
1,011
4Q11 3Q12 4Q12 2011 *
* Later, in 2Q12, 2 projects were cancelled, with R$ 156 Milliom in PSV, TECNISA share.
2012
Contracted Sales
Contracted Sales, based in TECNISA's interest and net of distracts, totaled R$ 230 million in 4Q12, 38% lower than
3Q12. This decrease is partially explained by the launch of a major development (The Five, with a R$ 290 million PSV, TECNISA's share) in the second half of December, which prevented a greater contribution in volume of the quarter.
1,831
1,092
404 373
230
4Q11 3Q12 4Q12 2011 2012
Contracted Sales, TECNISA's interest and net of distracts, totaled R$ 1,092 million in 2012. Sales velocity, expressed by the Sales Over Supply (SoS)1 ratio was 36%, as shown below:
Sales over Supply (SoS) 2012
I n ve n tory (e n d of p re vi ou s q u a rte r) | 2,172,463 |
(+) La u n ch i n g i n th e p e ri od | 1,011,415 |
(-) Proje cts Ca n ce l l a ti on (2) | (137,681) |
Supply (Inventory + Launching) | 3,046,197 |
Adjusted Contracted Sales 1,092,368
SoS 35.9%
2
Delivery of Developments
TECNISA delivered 2 developments in 4Q12, totaling 1.256 units and representing a PSV of R$ 291 million, reaching, in the 2012, 13 developments, totaling 3.050 units and representing R$ 852 million. TECNISA adopts by reference for the projects conclusion the date of the Condominium's Meeting.
Developments Conclusion 4Q12 4Q11 4Q12 vs. 4Q11
3Q12 4Q12 vs. 3Q12
2012 2011 2012 vs. 2011
Developments concluded | 2 | 3 -33.3% 3 -33.3% | 13 | 18 -27.8% |
Delivered units | 1,256 | 920 36.5% 444 182.9% | 3,050 | 3,205 -4.8% |
Delivered PSV (R$ '000) - % TECNISA | 290,600 | 106,000 174.2% 236,814 22.7% | 852,391 | 833,000 2.3% |
1 SoS = Contracted Sales / (Initial Inventory + Launchings)
2 Inventory at market value of the cancelled projects. Base date, 12/31/2011.
2
Land Bank
The Company's Land Bank reached a potential PSV of R$ 7,730 million in 3Q12, TECNISA's interest, as shown in
the charts below. It is worth highlighting that no land was purchased in the period.
15%
12%
Geographical Breakdown (4Q12)7% 4% 7%
Premium Flex
85%
69%
SP - São Paulo City SP - SP MA Brasília Paraná Other States
7,871
Land bank evolution - 4Q12 (R$ Million)(511) - 370 7,730
3Q12 PSV La unched Land Aquisition Adjustments 4Q12
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Inventory at Market Value
TECNISA ended the 4Q12 with R$ 2.6 billion in Inventory at Market Value, out of which R$ 2.0 billion related to TECNISA's interest. This figure represents an increase of 17% in relation to the 3Q12. The concluded unit inventory increased marginally from 4.5% to 4.9% of the total, result of the increase of delivered developments.
5%
31%
18%
9%
64%
21%
52%
Launched Under construction Concluded
SP Curitiba Brasília Other States
Annex - 2012 LaunchesYear State Quarter of
Launching
Name TT Un. % TECNISA PSV Total (R$ Million)
PSV TECNISA (R$ Million)
2012 SP 4Q12 Máximo Mogi 284 50% 44.0 22.0
2012 SP 4Q12 Itapimirum II - Morumbi 120 50% 45.6 22.8
2012 SP 4Q12 Flex Imigrantes (Fase 4) 160 100% 29.2 29.2
2012 SP 4Q12 Flex Osasco II 268 80% 67.3 53.9
2012 SP 4Q12 Flex Imigrantes 480 100% 93.4 93.4
2012 PR 4Q12 Dr. Pedrosa - Curitiba 487 100% 290.0 290.0
IR ContactInvestor Relations Area
Phone: +55 (11) 3708-1162
Fax: +55 (11) 3708-1125 www.tecnisa.com.br/ri ri@tecnisa.com.br
This report contains forward-looking statements that express or imply expected results, performance or events. These views include future results that may be affected by historical results, in accordance with the statements made in the section "Outlook". Actual performance and events may differ substantially from those projected and are subject to risks such as the general and economic conditions of Brazil and other countries, interest and exchange rate levels, protectionist measures in the USA, Brazil and other countries, legal and regulatory changes and shifts in general competitive factors (national, regional or global)
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