Brascan Residential Properties S.A. News
BRASCAN - Contracted Sales Increased 78%, Company Increased 2008 Guidance for Launches and Sales
HIGHLIGHTS — Revised its 2008 guidance for launchings of R$1.6 to R$1.8 billion and contracted sales of R$1.15 to R$1.35 billion. The Company also provided guidance for 2009. It expects 2009 launchings to reach R$2.2 to R$2.5 billion and contracted sales of R$ 1.7 to R$ 2.0 billion. — Completed on April 17, 2008 the acquisition of MB Engenharia S.A., a leader among real estate developers in the mid-west, focused on developing residential units for the middle and mid-low segments. Currently MB operates in 17 cities in 8 states and the Federal District, and has a land bank with a PSV of R$3.3 billion. — Acquired on April 25, 2008 a land plot located in one of the finest locations on Faria Lima Avenue with 77.5 thousand m2 of saleable area. Brascan owns 50% of the project. — Launched Ocean Breeze, located in Recreio dos Bandeirantes in Rio de Janeiro with a Potential Sales Value of R$36.4 million. — Contracted sales in the first quarter reached R$147.8 million, equivalent to an increase of 78% compared to the first quarter of 2007. — Net revenues totaled R$127 million, a 56% increase when compared to the same period of the previous year. — Gross profit amounted to R$61.6 million in the first quarter, the equivalent of a 36% growth compared to the first quarter of 2007. — EBITDA reached R$48.2 million in the first quarter, which corresponds to a growth of 34% compared to the same period of 2007. EBITDA margin in the first quarter of 2008 achieved 38%.
To access the full version of the press release, please visit our website at www.brascanresidential.com.br/ri.
UPCOMING EVENTS Conference Call (English) Conference Call (Portuguese) Date: May 9, 2008 Date: May 9, 2008 Time: 9 a.m. (EDT) Time: 11 a.m. (EDT) 10 a.m. (Brasilia Time) 12 p.m. (Brasilia Time) 1 p.m. (GMT) 3 p.m. (GMT) Phone: +1 (973) 935-8893 Phone: +55 (11) 4688-6301 Code: 45129053 Code: Brascan Webcast: available at our website Webcast: available at our website www.brascanresidential.com.br/ri www.brascanresidential.com.br/ri
SOURCE Brascan Residential Properties S.A.
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