SOURCE: CR2 Empreendimentos Imobiliarios SA

CR2 Empreendimentos Imobiliarios SA

November 16, 2010 22:20 ET

CR2 Announces Its 3Q10 and 9M10 Results

RIO DE JANEIRO, BRAZIL--(Marketwire - November 16, 2010) - CR2 Empreendimentos Imobiliários S.A. (BOVESPA: CRDE3) (PINKSHEETS: CREIY) announces its results for 3Q10 and 9M10.

Net revenue was R$69.3mm in 3Q10, compared to R$75.2mm in 3Q09. In 9M10, net revenue totaled R$300.6mm, 51% higher than R$198.7mm in 9M09.

Gross profit of R$13.1mm (margin of 19.0%) in 3Q10, compared to R$16.4mm (margin of 21.8%) in 3Q09. In 9M10, gross profit totaled R$61.9mm (margin of 20.6%), 55% higher than R$40.0mm (margin of 20.2%) in 9M09.

EBITDA totaled R$7.8mm (margin of 11.3%) in 3Q10, 7% higher than R$7.3mm (margin of 9.7%) in 3Q09. In 9M10, EBITDA totaled R$44.8mm (margin of 14.9%), 158% higher than R$17.3mm (margin of 8.7%) in 9M09.

Contact Information

    Rogerio Furtado
    Chief Financial and IR Officer
    Phone: +55 (21) 3095-4600