2. Forward-looking statements
This presentation does not constitute or form part of any offer, or invitation or solicitation of any offer to purchase,
sell or subscribe for shares or other securities of the Company, nor shall this presentation or any information
contained herein form the basis of, or act as inducement to enter into, any contract or commitment whatsoever.
This presentation contains financial and other information related to the business operations of Lopes âLPS Brasil
Consultoria de ImĂłveis S.A and its subsidiaries (âLPSâ or the âCompanyâ) as of and for the period ended March
31th 2010. It should not be considered as a recommendation for prospective investors to sell, purchase or
subscribe for securities of the Company. The information presented herein is in summary form and does not
purport to be complete. No reliance should be placed on the accuracy completeness of the information
contained herein, and no representation or warranty, express or implied, is given on behalf of the Company or its
subsidiaries as to the accuracy completeness of the information presented herein.
This presentation contains forward-looking statements. Investors are advised that whilst the Company believes
they are based on reasonable assumptions by Management, forward-looking statements rely on current
expectations and projections about future events and financial trends, and are not a guarantee of future results.
Forward-looking statements are subject to risks and uncertainties that affect or may affect business conditions
and results of operations, which therefore could materially differ from those anticipated in forward-looking
statements due to several factors, including competitive pressures, Brazilian macroeconomic conditions,
performance of the industry, changes in market conditions, and other factors expressed or implied in these
forward-looking statements or disclosed by the Company elsewhere, factors currently deemed immaterial.
The forward-looking statements contained herein speak only as of the date they are made and neither
Management, nor the Company or its subsidiaries undertake any obligation to release publicly any revision to
these forward-looking statements after the date of this presentation or to reflect the occurrence of unanticipated
events.
2
3. Program
I. Highlights
II. Operational Results
III. Credipronto!
IV. Financial Results
3
5. 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 1Q10, 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 1Q10.
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 Shareholdersâ Meeting to be called, the payment of Interest on
Capital of R$3.8 million.
We already concluded 3 acquisitions in 2011: ImobiliĂĄria ThĂĄ (Curitiba) and Erwin Maack (SĂŁo Paulo) in the
1Q11 and AçãoDallâOca (BrasĂlia) in the 2Q11.
5
6. LPS Brasil: Unique Business Platform
Primary Market Secondary Market Mortgage Loan
Contracted Sales Contracted Sales Financed Volume
19% 1Q11 x 1Q10 261% 1Q11 x 1Q10 141% 1Q11 x 1Q10
LPS Brasil Net Income
23% 1Q11 x 1Q10
6
7. Quarterly Performance â Compared Analysis
Evolution of Net Revenue, EBITDA Margin, Net Income and
Revenue, Margin,
Net Margin
77 Regardless
63 seasonality, Net
Net Revenue Revenue more
35 +120%
(R$ million) than doubled
37%
34%
EBITDA Margin
(%) +164%
14%
17
17
17 The increase in
13 revenue and the
Net Income of
the Controlling leverage of
-343% expenses
Shareholders
-7
(R$ million) increased the
profitability
20%
21%
Net Margin (%) -205%
-20%
7
1Q09 1Q10 1Q11
9. Contracted Sales
Contracted Sales Units Sold
(R$ MM)
12,046
14%
10,521 1.387
3,479 404
37%
2,545 674
186
10,117 10,665
2,804
2,359
1Q10 1Q11 1Q10 1Q11
In this Quarter, We Achieved R$ 3.5 billion in Contracted Sales.
9
10. Gross and Net Revenue
Gross Revenue Net Revenue
(R$ MM) (R$ MM)
23% 23%
85.1 77.4
69.3 63.0
1Q10 1Q11 1Q10 1Q11
In This Quarter, We Recognized R$77.4 million in Net Revenue.
10
11. Sales Speed over Supply
Lopes' Consolidated Sales Speed Habitcasaâs Sales Speed
28% 59% 60%
24%
1Q10 1Q11 1Q10 1Q11
*Management information, 11
The Sales Speed over Supply is obtained based on the quarterâs contracted GVS compared to inventory and launches.
12. Sales by Income Segment â Primary and Secondary Markets
Contracted Sales
Total Contracted Sales = R$3,479 million
1Q10 1Q11
19% 17% 12%
25%
24%
42% 23% 39%
Units Sold
Total units sold = 12,046
1Q10 1Q11
5%
13% 6%
41% 15% 31%
42%
47%
12
13. Contracted Sales by Geographic Region â Primary and Secondary Markets
Contracted Sales
1Q10 1Q11
12% 12%
10% 11%
5%
48%
54% 2%
9%
14%
5% 18%
SĂŁo Paulo Rio de Janeiro BrasĂlia Campinas South Other
13
14. Contracted Sales by Geographic Region â Primary and Secondary Markets
Contracted Sales
Contracted Sales= R$ 3.5 billion
Secondary Market
Primary Market
9%
13%
10% 15%
2% 45%
3%
11% 2% 59%
19% 12%
SĂŁo Paulo Rio de Janeiro BrasĂlia Campinas South Other
14
16. CrediPronto!
1Q11
R$209MM in Average LTV of Average Rate Average Period
824 Contracts
Mortgages 62% of 10,0% + TR of 291months
In April, CrediPronto financed more than R$100 million, a record number for the Company.
16
20. Net Commission by Market
Net Commission
3.0%
2.8% 2.8% 2.8%
2.7% 2.7%
2.5% 2.6% 2.5% 2.5%
2.3% 2.3% 2.4%
2.2% 2.1%
2.1% 2.2% 2.1% 2.1% 2.1%
SĂŁo Paulo Rio de Janeiro Other Markets Brazil
1Q10 2Q10 3Q10 4Q10 1Q11
20
21. Results 1Q11
1Q11 Results
(R$ thousands)
LOPES PRONTO! OLĂMPIA CONSOLIDATED
(+) Gross Revenue 69,416 15,317 329 85,062
Revenue from Real Estate Brokerage 65,791 15,317 329 81,437
Revenue to Accrue from ItaĂș Operations 3,625 3,625
(=) Net Revenue 63,177 13,940 282 77,399
(-) Operating Costs and Expenses -47,133 1,760 -3,098 -48,471
(-) Stock Option Expenses (CPC 10) -327 -327
(-) Expenses to Accrue from ItaĂș -238 -238
(=) EBITDA 15,479 15,700 -2,816 28,363
(=) EBITDA margin 25% 113% -999% 37%
(=) Pro forma EBITDA1 15,804 16,814 -2,816 28,688
(=) Pro forma EBITDA margin 25% 121% -998% 37%
(-) Depreciation and Amortization -6,119 -3,853 -8 -9,980
(+/-) Financial Result 10,330 3,065 656 7,921
(-) Income and social contribution taxes -7,034 -546 -18 -7,598
(=) Net Income for the year 12,656 8,236 -2,186 18,706
Net Margin 20% 59% -775% 24%
Attributable to:
Controlling Shareholders 16,514
Non-controlling Shareholders 2,192
21
23. Net Income
Net Income
(R$ Thousand
24%
25% 16%
18,706
16,188
1Q10 Net Margin
1Q11
Net Income
2,191
18,706
16,515
Net Income Assigned to Controlling Net Income Assigned to Non-Controlling 1Q11 Net Income - IFRS
Shareholders Shareholders
23
26. Shareholder Value Generation
Shareholder Value Generation
Net Income Attributable to Controlling Sahreholders of R$16.5 million
Payment of Interest on Own Equity of $ 3.8 million
Firts Earn-Out Installment of R$31 million
* Bonus for
professionals
involved in the
achievement of
the goal. CEO
and COO are not
included.
26
27. Cash Position
ASSETS
Cash and Cash & Equivalents* R$ 230.7 million
Receivable From Clients R$ 75.3 million
Acquisitions Payment
(R$ thousand)
2T11 Total
Acquisitions- Primary 45,165 45,165
2T11 4T11 1T12 2T12 4T12 1T13 2T13 3T13 4T13 1T14 2T14 3T14 4T14 1T15 Total
Acquisitions- Secondary 3,000 8,001 10,231 3,288 5,810 11,140 2,969 1,300 4,899 12,435 3,235 400 4,899 10,546 82,153
Total 127,318
27
