Preliminary Operating Results for 1Q11
Total Pre-Sales reached R$ 182 million in the first quarter
SOS exceeds the level of 35% in 1Q11
Mogi das Cruzes, April 20, 2011 – Helbor Empreendimentos S.A. (BM&F BOVESPA: HBOR3), a residential and office real
estate developer covering 29 cities in 10 states, in addition to the Federal District, Brasília, announces today its preliminary
unaudited operating results for the first quarter of 2011.
Total potential sales value (PSV) reached R$ 51.5 million in the first quarter, 80% Helbor’s stake.
Total Pre Sales totalled R$ 182.1 million in 1Q11, 82.3% Helbor’s stake, especially the high rate of sales over supply (SoS)
of inventory, reaching 28.8% in the quarter.
Sales over Supply (SoS), considering Helbor’s stake, reached 35.8%, a level above the market average during the first
quarter.
In 1Q11, Helbor announced the formation thorough a partnership with a IPLF Holding S.A. (“IPLF”), an entity controlled
by Suzano Group, a new company called Alden Desenvolvimento Imobiliário Ltda, which will ensure a significant land
bank of long-term real estate projects. Initially, the new company will generate $ 1.4 billion in Total PSV.
Helbor’s Total Land Bank, without considering Total PSV of Alden, totalled R$ 5.5 billion on March 31, 2011, an increase
of 21% compared to December 31, 2010.
OPERATIONAL HIGHLIGHTS
Operational Highlights
1Q11
1Q10
Change
1Q11 x
1Q10
4Q10
Change
1Q11 x
4Q10
Total PSV
51,548
451,788
-88.6%
367,291
-86.0%
Helbor's PSV
41,238
333,750
-87.6%
285,094
-85.5%
Helbor's Stake
80.0%
73.9%
(R$ 000)
Launches
# of Developments Launched
77.6%
1
6
(5)
6
(5)
240
1,352
(1,112)
919
(679)
Total Pre-Sales
182,133
437,734
-58.4%
432,776
-57.9%
Helbor's Pre-Sales
-58.1%
318,417
-52.9%
# of Units Launched
Pre-Sales
149,874
357,664
Helbor's Stake
82.3%
81.7%
# of Units Sold
509
1,253
73.6%
(744)
1,114
(605)
LAUCHES
Total PSV reached R$ 51.5 million in 1Q11, R$ 41.2 million Helbor’s stake, (77.6% Helbor’s stake), residential development
in mid low income segment. The table below details Helbor Jardins Ipoema, launched in March 31:
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Preliminary Operating Results for 1Q11
Development
Date
Helbor Jardins Ipoema
Mar-11
Location
Segment
Mogi das Cruzes - SP Mid Low
# of
Units
# of
Units
Net*
240
216
Total
PSV
(R$
000)*
51,548
Helbor´s
PSV (R$
000)*
41,238
Helbor's
Stake
80.0%
* Net of swaps agreements.
Helbor Paesaggio Jardim das Colinas¸ a development in the high income segment, was launched was launched on April 1
2011 in São Jose dos Campos, reaching R$189.5 million in Total PSV, 100% Helbor’s stake. The outlook for the second
quarter of 2011 is very positive, especially considering the launches scheduled for the period are in advanced stages.
PRE-SALES
Total Pre-Sales reached R$182.1 million in 1Q11 and Helbor´s stake amounted to R$149.9 million (82.3% of Total Pre Sales).
From sales of the quarter, 27.6% refers to launches and 72.4% from inventory, which had sales over supply of 28.8%, a level
above the market average during the first quarter.
The development Helbor Jardins Ipoema, launched in
March 31, had more than 90% of its 240 units sold on
launch day and now it is 100% sold.
Helbor's Pre-Sales Breakdown (R$ 000)
1Q11
27,6%
72,4%
4Q10
3Q10
2Q10
149,874
66,3%
33,7%
75,8%
26.0%
24,2%
74.0%
446,219
288,477
1Q10
59.0%
41.0%
357,664
4Q09
61.0%
39.0%
372,357
3Q09
42.2%
2Q09
1Q09
57.8%
60.9%
23.0%
317,591
39.1%
77.0%
Launches
The lower volume of sales recorded in the quarter reflects
the low volume of existing inventory posted on December
31, 2010 and the low volume of launches in the first
quarter 2011. On the other hand, the velocity of sales
measured by SoS reached 35.8%, a level above the market
average for the quarter and to certify the liquidity of
products launched by Helbor.
318,417
244,813
In the second quarter of 2011, sales volume tends to
increase with the acceleration of launching schedules and
an intense pre-sales work force.
121,114
Inventory
The following tables details Pre Sales, by city and income segment, in 1Q11:
1Q11
Region
Mogi das Cruzes
São Paulo
Santos
Guarulhos
Diadema
Nova Lima
São Caetano
Rio de Janeiro
Bertioga
São José dos Campos
Santo André
Campinas
Taubaté
Pre-Sales
R$ (000)
Helbor´s Pre-Sales
R$ (000)
# of Units
% over
Helbor´s Sales
61,649
44,048
11,643
10,774
3,130
3,054
2,703
2,287
1,232
1,070
721
623
578
52,214
38,762
9,884
5,387
1,565
3,054
2,433
1,601
1,232
1,070
721
623
549
243
80
16
27
11
9
3
6
4
1
1
2
1
84.7%
88.0%
84.9%
50.0%
50.0%
100.0%
90.0%
70.0%
100.0%
100.0%
100.0%
100.0%
95.0%
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Preliminary Operating Results for 1Q11
São Gonçalo
Southeast - Total
416
143,929
291
119,385
4
408
70.0%
82.9%
Goiânia
Brasília
Cuiabá
Mid West - Total
13,223
2,738
2,479
18,439
9,256
1,496
2,231
12,982
34
5
3
42
70.0%
54.6%
90.0%
70.4%
Joinville
Curitiba
Itajaí
South - Total
9,632
5,117
2,402
17,151
9,318
4,094
2,162
15,574
37
7
5
49
96.7%
80.0%
90.0%
90.8%
Salvador
Fortaleza
Northeast - Total
1,682
933
2,615
1,093
840
1,933
7
3
10
65.0%
90.0%
73.9%
182,133
149,874
509
82.3%
Total
1Q11
Income Segment
Mid
Mid Low
High
Mid High
Commercial
Land Division
Total
Pre-Sales (000)
Helbor's Pre-Sales (000)
# of Units
% over
Helbor's
Sales
67,025
57,204
26,902
16,121
14,632
249
182,133
52,715
46,463
23,716
14,208
12,728
44
149,874
168
241
24
23
51
2
509
78.6%
81.2%
88.2%
88.1%
87.0%
17.7%
82.3%
For further information, please contact our IR team:
Roberval Lanera Toffoli – CFO and IR Officer
Bernardo Alonso S. Garcia – IR Manager
Eduardo Shima – IR Analyst
E-mail: [email protected]
Phone: +55 (11) 3174-1211 or +55 (11) 4795-8555
http://ir.helbor.com.br/
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