Rodobens Negocios Imobiliarios S.A. News
Rodobens 1Q08 Earnings Release
SAO JOSE DO RIO PRETO,
1Q08 Financial and Operating Highlights — Pre-sales of R$154 million (Rodobens' share only), a 360% growth over 1Q07 and 7% over 4Q07. - 2,092 units sold (vs. 310 in 1Q07), 88% with selling price up to R$150,000. — Project Launches(1) of R$195 million (Rodobens' share only), a 515% growth over 1Q07. - 2,642 units launched (vs. 210 in 1Q07), 100% with selling price up to R$150,000. — Net Revenue of R$73 million, a growth of 283% over 1Q07. Both the revenue and costs from the real estate development activity are recognized by the method of percentage of completion. — EBITDA rose to R$14 million, with a margin of 19.9% of net revenue. Excluding the negative impact of interest expenses recorded as cost of projects, EBITDA margin was 22.4%. — Net income of R$18 million, reflecting the growing operating profit and, in decreasing relevance, the net interest (financial) result. — Cash balance of R$224 million and bank debt of R$61 million as of March 31, 2008, representing comfortable liquidity for the investments in working capital during the rest of 2008. — Land Bank with a potential sales value currently estimated at R$5.1 billion (Rodobens' share), and construction potential of 74,000 homes in 47 municipalities of ten Brazilian states. (1) Potential total sales value, estimated at launching.
The complete and audited consolidated 1Q08 financial statements, accompanied by the respective explanatory notes, can be found in the document "ITR-Informacoes Trimestrais" (mandatory quarterly filing), available in electronic form at our investor relations website at http://www.rodobens-rni.com/ir and at the CVM-Comissao de Valores Mobiliarios (the Brazilian Securities and Exchange Comission) website at http://www.cvm.gov.br.
Contacts: Investor Relations Media Relations Orlando Viscardi MCE, a/c Rita Mazzuchini Tel.: 55-17-2137-1754/3/2 Tel.: 55-11-2577-6533 E-mail: ri-rni@rodobens.com.br E-mail: ritamce@terra.com.br 1Q08 Earnings conference calls: Portuguese English May 8, 9:00am (ET time) May 8, 11:00am (ET time) Tel.: 55-11-4688-6301 Brazil: 55-11-4688-6301 Access code: Rodobens U.S.: 1-888-700-0802 Other countries: 1-786-924-6977 Access code: Rodobens
The conference calls will be accompanied by slides presentation that will be available at http://www.rodobens-rni.com.br/ri
SOURCE Rodobens Negocios Imobiliarios S.A.
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