SOURCE: LPS Brasil - Consultoria de Imoveis S.A.


May 18, 2010 11:05 ET

Lopes Reaches R$2.5 Billion in Contracted Sales in 1Q10

SAO PAULO, BRAZIL--(Marketwire - May 18, 2010) -  Lopes - LPS Brasil (Bovespa: LPSB3) (Reuters: LPSB3.SA) (Bloomberg: LPSB3.BZ), the largest residential property consulting and brokerage firm in Brazil, operating in the primary and secondary markets as well as mortgage loans, announces today its results for the first quarter of 2010 (1Q10). The financial and operating information is presented in accordance with generally accepted accounting practices in Brazil and the managerial data provided by LPS Brasil - Consultoria de Imóveis S.A. and its subsidiaries.

• Contracted sales totaled R$2.5 billion in 1Q10, 80% higher than 1Q09.
• Lopes sold 10,521 units in Brazil in 1Q10, an 89% increase when compared to the 1Q09, of which 41% were in the low-income segment (units priced up to R$150k).
• Consolidated Sales Speed Over Supply stood at 43%, when isolating the low-income segment, Habitcasa's Sales Speed Over Supply was 61%, both among one of the largest sales speed of the sector.
• The State of São Paulo accounted for R$1.5 billion of our contracted sales, positioning Lopes as the leader in the biggest Brazilian market. In the markets of Brasília and the South Region, Lopes also stood up as the leader with R$350 million and R$244 million sales respectively.
• The Company opened its new units: Lopes Focus, Lopes ABC, new head office of Rio de Janeiro, Lopes Curitiba, Habitcasa Campo Grande-RJ and Habitcasa Nova Iguaçu - RJ. In addition, three new Pronto! stores were opened in Sao Paulo. Through these new units, the Company seeks to strengthen its strategy of liquidity.
• In 1Q10, CrediPronto! granted mortgage loans worth R$87 million .Since the beginning of its operations through March, the amount financed by CrediPronto! already reached R$291 million.
• Lopes Net Revenue totaled R$63 million, an increase of 82% when compared to the 1Q09.
• Pro-forma EBITDA in 1Q10 was R$22.4 million, an increase of 293% over 1Q09. Pro forma EBITDA Margin was 36%.
• Lopes posted Pro-forma Net Income of R$12.4 million in 1Q10, up 296% year-on-year. Pro forma Net Margin was 20% in 1Q10.

Contact Information