EZTEC EMPREENDIMENTOS E PARTICIPAÇÕES S.A. 4Q23
Webcast
São Paulo, March 15th, 2024
The simultaneous translation function into English will be available during the company's presentation. You can select the English audio on the right side at the bottom of the screen.
LAUNCHES 4Q23
Jota Vila Mariana | East Blue Tatuapé | |||
PSV % EZTEC : | R$ 127 MM | PSV % EZTEC : | R$ 175 MM | |
% Sold: | 64% | % Sold: | 67% |
Lindenberg Alto de Pinheiros | Lindenberg Ibirapuera | |
PSV % EZTEC : R$ 85 MM | PSV % EZTEC : R$ 600 MM |
Annual Evolution for Launches %EZTEC
R$ MM | 4Q | |||||||||||
1,898 | 1,783 | 3Q | ||||||||||
935 | ||||||||||||
469 | 2Q | |||||||||||
1,151 | 1,231 | 1Q | ||||||||||
381 | 490 | 410 | 987 | |||||||||
257 | 300 | |||||||||||
206 | 414 | |||||||||||
313 | 85 | |||||||||||
460 | ||||||||||||
564 | 489 | 475 | ||||||||||
253 | ||||||||||||
394 | ||||||||||||
28 | 127 | |||||||||||
2019 | 2020 | 2021 | 2022 | 2023 |
% Sold from Launches
Private area
1,898 | ||||
1,151 | 1,783 | |||
1,231 | ||||
93% | 987 | |||
75% | 64% | 69% | ||
44% | ||||
2019 | 2020 | 2021 | 2022 | 2023 |
Sold | Inventory |
% Sold: 37% | % Sold: 20% |
OPERATIONAL PERFORMANCE
Quaterly Sales Evolution | Annual Net Sales Evolution | ||||||||
R$ MM | |||||||||
R$ MM | |||||||||
487 | |||||||||
414 | 1,566 | ||||||||
346 | 344 | ||||||||
419 | |||||||||
255 | 1,196 | 1,255 | 1,270 | ||||||
366 | 1,127 | ||||||||
Gross Sales | |||||||||
304 | |||||||||
279 | |||||||||
Net Sales | |||||||||
206 | |||||||||
R$ milhões | |||||||||
4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | |||||
Gross Sales | Net Sales | 2019 | 2020 | 2021 | 2022 | 2023 |
Quaterly Cancellations Evolution | Quaterly Net Sales by Status | ||||||||
R$ MM | R$ MM | ||||||||
67 | 65 | ||||||||
Under | |||||||||
148,4 | |||||||||
construction | |||||||||
48 | 49 | ||||||||
41 | 63 | Cancellations | |||||||
54 | Adj. Cancellations* | ||||||||
41 | Residential | ||||||||
Cancellations | |||||||||
Performed | 32,7 | 1,5 | |||||||
37 | EX PDC** | Commercial | |||||||
32 | |||||||||
26 | |||||||||
4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | Launches | 23,3 | |||
* Excluding Downgrades, Upgrades and Transfers. ** Excluding cancellations from Parque da Cidade.
84% private area of units sold
DELIVERIES
PROJECT'S INFORMATIONS | %EZTEC | SPE | Type | % Private Area Sold | PSV %EZ (R$ MM) |
1Q23 | 74.4% | 118,6 | |||
Z.Ibirapuera | 100% | Larissa | Consolidated | 74.4% | 118,6 |
2Q23 | 92.1% | 251,4 | |||
Jardins do Brasil - Reserva JB - 1st Phase | 76% | Phaser | Equity | 93.2% | 121,2 |
Jardins do Brasil - Reserva JB - 2nd Phase | 76% | Phaser | Equity | 91.1% | 130,2 |
3Q23 | 99.4% | 162,5 | |||
Pin Internacional | 60% | Cabreúva | Equity | 99.4% | 162,5 |
4Q23 | 76.4% | 1,295.3 | |||
EZ Parque da Cidade | 100% | Santa Madalena | Consolidated | 79.9% | 576,4 |
Eredità | 50% | Dakota | Equity | 82.0% | 70,9 |
Meu Mundo Estação Mooca | 50% | Iracema | Equity | 91.9% | 77,6 |
Giardino Gran Maia | 100% | Pinhal | Consolidated | 30.4% | 101,6 |
Piazza Gran Maia | 100% | Pinhal | Consolidated | 64.2% | 104,2 |
Air Brooklin | 100% | Vale do Paraíba | Consolidated | 84.0% | 364,6 |
YEAR-TO-DATE | 84.1% | 1,827.7 | |||
High volume of deliveries in 2023, with 84% of units sold
Annual evolution of the PSV delivered and its percentage sold as a % of the private area
% Sold | PSV in Inventory | 1,828 | 2,307 | |||||||||||||||||||||
84% | 69% | 1,163 | ||||||||||||||||||||||
748 | 768 | 764 | ||||||||||||||||||||||
435 | 98% | 94% | ||||||||||||||||||||||
million | 143 | 73% | 41% | |||||||||||||||||||||
R$ | 99% | |||||||||||||||||||||||
100% | ||||||||||||||||||||||||
DELIVERY - Air Brooklin | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
INVENTORY
With sales greater than launches, the Company managed to reduce its inventory by 6.3%
Variation in Total Inventory
987 | ||||||||||||||||||||||||||
104 | ||||||||||||||||||||||||||
229 | ||||||||||||||||||||||||||
1,499 | ||||||||||||||||||||||||||
MM | 2,824 | 2,843 | 2,664 | |||||||||||||||||||||||
R$ | ||||||||||||||||||||||||||
2021 | 2022 | Launches | Gross Sales | Cancellations | Prices Variation | 4Q23 |
R$ 2.7 B
In PSV of INVENTORY % EZ
76% of the inventory under construction is in the South Zone
PSV of Residential Inventory by Region - %EZTEC
R$ MM | |||||
South Zone | 1.116 | 264 | |||
371 | |||||
East Zone | 42 171 | 67 | |||
West Zone | 28 157 53 | ||||
Guarulhos | 216 | ||||
Osasco | 33 19 | Performed | |||
Under Construction | |||||
Others | 13 | Launches | |||
Inventory by Project Status | Inventory by Project Status |
R$ MM | Units |
Residential
R$ 704 | R$ 1,463 | R$ 383 | Residential |
894 | 1,866 | 109 |
Commercial
R$ 114 | Commercial | |||||
Performed | Under construction | Launches | ||||
123
Performed Under construction Launches
LANDBANK
Increase in PSV¹ occurs through the acquisition of land and calibration of premises
Evolution of the Landbank and future projections
216 | 300 | 2,799 | ||||
0* | ||||||
12,165 | ||||||
8,851 | 9,366 | |||||
R$ million | ||||||
3Q23 | Launches | Acquisitions | Changes in prices | 4Q23 | Suspensive Clauses³ | 2023E |
¹Managerial value using the best current assumptions.
²For presentation purposes, the PSV of the landbank related to projects whose construction activities have already started, such as Lindenberg Ibirapuera and the corporate projects Esther Towers and Air Brooklin Commercial are classified as Other Assets under Development in the INVENTORY section, remaining, in this section, only those projects that haven't had their construction work started and will be launched/commercialized in the future. For this reason, the launch of the second phase of Lindenberg Ibirapuera was not included in this graph.
³Landbank committed with express resolutive clauses, linked to legal and technical due diligence to be carried out by EZTEC.
R$ 9.4 B
In PSV for FUTURE PROJECTS %EZ
São Paulo Metropolitan Region
1 plot
R$ 0.1 B | 5 plots | |
R$ 1.7 B
5 plots
R$ 1.2 B
3 plots
R$ 1.7 B
13 plots R$ 4.6 B
Landbank by Group Company | Quantity of Landbank by PSV |
0% | 10% | 20% | 30% | 40% | 50% | 60% | 70% | 80% | 90% | 100% | > R$500 million |
6
High-end | Middle-High-end | Middle-end | Fit Casa | EZ Inc |
R$760 | R$2,832 | R$2,896 | R$ 2,803 | R$76 |
EZTEC R$ 6,487
R$200 - R$500 million
R$100 - R$200 million
R$50 - R$100 million
< R$50 million
Under development
(No PSV)
11
6
3
1
9
4Q23 - FINANCIAL PERFORMANCE
Net Revenue | Gross Profit and Margin |
R$ MM | R$ MM & % | 32% | 32% | 33% | |||||
338 | 28% | ||||||||
311 | 25% | ||||||||
251 | 243 | 252 | |||||||
81 | 113 | ||||||||
77 | 71 | 79 | |||||||
4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 |
Equity Income & % of Net Profit | Result and Margin to be recognized- Quarter | ||||||||||||
R$ MM e % | 66% | R$ MM e % | 36% | 37% | 38% | 38% | |||||||
36% | |||||||||||||
435 | 427 | ||||||||||||
398 | 411 | 418 | |||||||||||
41% | 50 | ||||||||||||
36% | |||||||||||||
29% | 25% | ||||||||||||
9 | 17 | 14 | 21 | ||||||||||
4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 |
7
Financial Result & % of Revenue - QuarterDirect Receivable Evolution
R$ MM and % | R$ MM | |
10% | 10% | |
6%
7%
5%
51 | |||||
128 | |||||
124 | 31 | ||||
513 | 519 | 509 | |||
384 | 363 | 387 |
19 | 24 | 23 | 14 | 24 |
4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 |
2018 | 2019 | 2020 | 2021 | 2022 | Origination | Yield | Payments Foreclosure | 2023 |
Net Profit & Margin | Net Debt (Cash) Evolution |
R$ MM e % | R$ MM | |||||||
31% | Net Debt | |||||||
94 | ||||||||
25% | 856 | |||||||
762 | 769 | Net Cash | ||||||
17% | 241 | |||||||
16% | ||||||||
528 | ||||||||
10% | ||||||||
75 | 83 | |||||||
32 | 42 | 39 | ||||||
4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | Avaliabilities | Debt | Avaliabilllities | Debt |
2023 | - | 2022 | ||||||
8 |
2023 - FINANCIAL PERFORMANCE
Net Revenue | Gross Profit | ||||||||
R$ MM | R$ MM | ||||||||
1,121 | 1,083 | 442 | |||||||
403 | |||||||||
937 | 958 | 384 | |||||||
344 | |||||||||
804 | 328 | ||||||||
2019 | 2020 | 2021 | 2022 | 2023 | 2019 | 2020 | 2021 | 2022 | 2023 |
Net Profit | Financial Result | ||||||||||||
R$ MM | R$ MM | ||||||||||||
430 | 168 | 168 | |||||||||||
405 | |||||||||||||
138 | |||||||||||||
325 | |||||||||||||
281 | |||||||||||||
93 | |||||||||||||
239 | 85 | ||||||||||||
2019 | 2020 | 2021 | 2022 | 2023 | 2019 | 2020 | 2021 | 2022 | 2023 |
9
CAPITAL STRUCTURE
Financial Sources
Book value per share: R$ 21.30 Free float shares*: 218,125.703
Asset Distribution (R$ 5,879 MM)
(20%) Thirdy-Party Capital
R$856 MM Loans, Financing and
Debentures
R$2 MM Land Payable
1,174
4,705
(80%) Shareholder´s Capital
R$ 4,646 MM from Controllers
R$ MM
Cash and equivalents
Performed receivables
Non-performed receivables
Inventory under construction
Landbank
Shared assets
Others assets
Ready Inventory
762
769
494
578
700
499
501
539
477
409
438
251
Higher liquidity assets
1,320
1,359
1,188
1,194
2023 2022
*Shares on December 31, 2023
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Disclaimer
EZTec Empreendimentos e Participações SA published this content on 14 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2024 21:25:42 UTC.
