1 1Q08 Earnings Release Brasil Brokers announces its 1Q08 Results Rio de Janeiro, May 15 th 2008. Brasil Brokers Participações S.A. (Bovespa: BBRK3) a real estate brokerage and consulting firm, with a strong presence in Brazil’s major real estate markets, announces today its results for first quarter 2008. The Company’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in Brazil (BR GAAP), pursuant to Brazilian Corporate Law and CVM regulations. 1Q08 Highlights Evolution of the share price from R$950.00 since its IPO on 10/29/2007 to R$1,225.01 on 03/31/2008, demonstrating the Company’s appreciation of 28.95%; Total of 11,360 Units Sold by its subsidiaries, representing Contracted Sales of R$2,404 million. In December 2007, the number of subsidiaries in operation was composed of 16 subsidiaries; at the end of March 2008, 23 subsidiaries which 20 were operational (as shown in the table on page 12). Sales Backlog Launches from its subsidiaries on 03/31/2008, through December 2009 is R$30.9 billion. 1Q08 Conference Call English May 16 th , 2008 01:00 PM (NY Time) 02:00 PM (Brasilia Time) Phone: +1 (973) 935-8893 Code: 44916012 Replay: +1 (706) 645-9291 Portuguese May 16 th , 2008 10:00 AM (NY Time) 11:00 AM (Brasilia Time) Phone: +55 (11) 2188-0188 Code: Brasil Brokers Replay: +55 (11) 2188-0188 IR Contact Álvaro Soares – CFO and IRO Phone: +55 (21) 3433-9550 e-mail: [email protected]www.brbrokers.com.br/ir
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1Q08 Earnings Release Brasil Brokers announces its 1Q08 ... · accepted accounting principles in Brazil (BR GAAP), pursuant to Brazilian Corporate Law and CVM regulations. 1Q08 Highlights
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1Q08 Earnings Release
Brasil Brokers announces its 1Q08 Results
Rio de Janeiro, May 15th 2008. Brasil Brokers Participações S.A. (Bovespa: BBRK3) a real
estate brokerage and consulting firm, with a strong presence in Brazil’s major real estate
markets, announces today its results for first quarter 2008.
The Company’s consolidated financial statements are prepared in accordance with generally
accepted accounting principles in Brazil (BR GAAP), pursuant to Brazilian Corporate Law and CVM regulations.
1Q08 Highlights
Evolution of the share price from R$950.00 since
its IPO on 10/29/2007 to R$1,225.01 on 03/31/2008,
demonstrating the Company’s appreciation of
28.95%;
Total of 11,360 Units Sold by its subsidiaries,
representing Contracted Sales of R$2,404 million.
In December 2007, the number of subsidiaries in
operation was composed of 16 subsidiaries; at the end of
March 2008, 23 subsidiaries which 20 were operational
(as shown in the table on page 12).
Sales Backlog Launches from its subsidiaries on
03/31/2008, through December 2009 is R$30.9 billion.
Brasil Brokers was constituted on January 16, 2007 and initiated its operations on June 11, 2007.
In this period the Company has acquired controlling interests in 16 companies in the real estate
brokerage sector (except for Niterói Administradora, in which it holds a 50% interest). Of these 16 companies, seven have operating histories, and nine are newly formed companies that
received 100% of the operations and nearly 100% of the assets, including goodwill and brand equity of companies formed at least three years ago that enjoy strong brand recognition in their
respective markets.
As of March 31, 2008, 20 of its 23 subsidiaries were operational, with results already included in
The revenues and expenses of our subsidiaries involve real estate brokerage and consulting
activities.
Operational Areas
The map below shows the locations in which the Company operated on 03/31/2008 in the
following areas:
Outros estados em que a Brasil
Brokers está presente através da
subsidiária Primaz
Estados em que a Brasil Brokers
detém subsidiárias
Manaus
Natal
Salvador
Belém
Belo Horizonte
São Paulo
Rio de Janeiro
Vitória
Recife
Curitiba
Florianópolis
Porto Alegre
Goiânia
Distrito Federal States where Brasil Brokers
has subsidiaries
Other States where
Brasil Brokers operates
through its subsidiary Primaz
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1Q08 Earnings Release
Latest Acquisitions
We acquired 80% of the capital of Rede Morar, one of the largest
online real estate networks in the country and the only one constituted
as a company.
Rede Morar began its operations around 3 years ago in Belo Horizonte and currently operates in
another 7 cities in the state of Minas Gerais (Betim, Contagem, Nova Lima, Vespasiano, Lagoa
Santa, Uberaba and Uberlândia). It currently manages a network composed of 52 accredited real
estate agencies in the state of Minas Gerais, which jointly have 325 realtors distributed across 59
points of sale. With the acquisition of Rede Morar, Brasil Brokers materializes its strategy of
expansion in the property resale segment in Minas Gerais and, subsequently, in the rest of the
country, though the expansion of the company’s operating model to other markets
The national expansion model will follow the current accreditation model, with the opening of
regional offices and the launch of new products to accredited companies.
The Company acquired 100% of the assets of Global Imóveis.
Global Imóveis is the largest real estate brokerage company in Manaus, has 8 years of operation in the local market and a large client portfolio, with an
emphasis on: Inpar, Cyrela, Agra, Mac, Patrimônio, JHSF and Tecnisa, among
others. Its sales force includes 127 brokers, distributed into more than 16 points-of-sale and Sales Backlog launches of approximately R$ 1.04 Billion to be
launched until the end of 2009.
Amazonas is the second most populous state in the North, with more than 3 million inhabitants,
of which 1.6 million in Manaus. In addition, Manaus has the seventh biggest Gross Domestic Product – GDP (according IBGE).
With the said acquisition, Brasil Brokers expanded its share in the North, where operated in the State of Pará by the subsidiary Chão e Teto.
The Company should conclude the acquisition of Global in the states of Acre, Roraima and
Rondônia in 90 days.
Organic Expansion
Beginning of operations in Florianópolis, marking the start of Brasil Brokers in the state of Santa Catarina. Noblesse launched R$18 million in
Florianópolis in the 1Q08 and already has close to R$90 million in its sales backlog to be launched in 2008, with 25 brokers in the city and will begin
operating in the property resale segment in the 2Q08, with the opening of its branch in Florianópolis.
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1Q08 Earnings Release
IPrice expanded its area of operations to Ribeirão Preto – São Paulo by opening a store with 20 brokers in the city. The company has already
launched over R$100 million in developments since its inauguration in March 2008.
Ética, the leading property resale company in Brazil, begin operating in the
towns of Niterói and São Gonçalo, with the inauguration of 4 stores (Icaraí,
Fonseca, Piratininga and São Gonçalo), adding 67 brokers to its sales force.
New Areas of Operation
After the acquisitions and the organic expansion, the Company’s new area of operation will be