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

LPS Brasil - Consultoria De Imoveis S.A.

May 14, 2011 10:46 ET

LPS Brasil Announces 1Q11 Results

SAO PAULO, BRAZIL--(Marketwire - May 14, 2011) - Lopes - LPS Brasil (BOVESPA: LPSB3) (Reuters: LPSB3.SA) (BLOOMBERG: LPSB3.BZ), the provider of integrated real estate brokerage, consulting and financing promotion services in Brazil, announces today its results for 1Q11.

Highlights

Credipronto! received the first Earn-Out of R$30.9 million on May 11th, 2011.

Contracted Sales totaled R$3.5 billion in 1Q11, 37% higher than the 1T10, of which R$2.8 billion in the primary market alone.

CrediPronto! granted mortgage loans worth R$209 million in the quarter, for total PSV of R$340 million. The accumulated origination reached over R$1 billion.

In April, the volume of financing was over R$100 million, record for Credipronto!.

Net revenue in 1Q11 came to R$77.4 million, 23% higher than 1T10.

EBITDA in 1Q11 was R$28.4 million, up 32% from 1Q10, with EBITDA Margin of 37%.

Net income of LPS Brasil reached R$18.7 million in 1Q11, 15% higher than 1Q10. Net Income Assigned to LPS Shareholders was R$16,5 million.

The management will recommend, in a Shareholders' Meeting to be called, the payment of Interest on Capital of R$3.8 million.

We already concluded 3 acquisitions in 2011: Imobiliária Thá (Curitiba) and Erwin Maack (São Paulo) in the 1Q11 and AçãoDall'Oca (Brasília) in the 2Q11.

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