SAO PAULO, BRAZIL--(Marketwire - March 25, 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 4Q10.
Highlights
- In 2010, LPS Brasil was the absolute leader in the primary market, both in number of Launches and Sales as well as in Revenues, EBITDA and Net Income.
- LPS Brasil reached its highest levels of: Contracted Sales, Mortgages Sold, Net Revenue, EBITDA and Net Income.
- In 2010, LPS Brasil achieved R$15.6 billion in contracted sales, R$14.4 billion only in the primary market. In the 4Q10, sales totaled R$4.7 billion, R$3.6 billion in the primary market.
- LPS Brasil sold 56,633 units in 2010, 54% higher than 2009, and 34% of which in the low income segment. We sold 17,408 in the 4Q10, 37% higher than 2009, and 34% of which in the low income segment (less than 150 thousand).
- LPS Brasil Net Revenues totaled R$338.7 million in 2010, the greatest in the sector of real estate brokerage. In 4Q10, Net Revenues achieved R$108.4 million.
- In 4Q10, CrediPronto! granted mortgage loans worth R$213 million, amounting to R$600 million in 2010, exceeding the guidance by 20%. The portfolio balance at the end of the period was R$707.1 million.
- EBITDA was R$168.6 million in 2010, 68% higher than 2009. In 4Q10, it was R$60.5 million, an 18% growth over 4Q09. EBITDA Margin was 50% in 2010 and 56% in 4Q10.
- LPS Brasil posted Net Income of R$53.2 million in 4Q10, up 88% over the same period last year, and R$132 million in 2010, 437% higher than 2009. Net Margin was 39% in 2010 and 49% in 4Q10.
- In 2010, our operation in the Secondary Market, Pronto!, has already become profitable, with a Net Income of R$13.6 million.
- Net Income Assigned to LPS Shareholders was R$108.5 million in 2010 and the Net Income Assigned to Non-Controlling Shareholders was R$23.5 million.
- In 2010, we announced a new partnership plan for the Company. The new plan comprehends more executives, aiming at strengthening the relationship between the Company and its main talents and a long term commitment. The new plan does not exceed the 5% dilution upper limit.
- We started in 2010 our process of consolidation in the secondary market. We acquired 6 companies in that year and another 2 in 2011. Besides, we acquired the control of Patrimovel, market leader in Rio de Janeiro, in October 2010.
- In the second half of 2010, we raised R$207 million through a primary offering. The proceeds will be used for our project of consolidation in the secondary market.
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