2. Highlights 2Q12
Following the Business Plan: continue with the Company’s unleveraging process.
Increased sales of the units in inventory;
Completion of Jardim Paradiso IIB-III ;
Reduction in gross debt.
2Q12 2
3. Completion of Projects
Projects PSV(R$mm) Delivery Schedule
Delivery Schedule: PSV (R$mm)
Jardim Paradiso IIB-III 89,0 1H12
Acqua Park 67,3 2S12
Total PSV of R$1,137.5mm (100% of PSV launched) Splendore Valqueire II 37,0 2H12
Top Life View 42,0 1H13
902,2
Total 235,3
Expected Budget :
Total disbursement until conclusion: -R$42.8mm;
651,5
193,3
42,0 Funding sources
176,1
35,9
Delivered: From 2008 2H12 1H13 Construction financing (SFH): +R$25.4mm;
to 2011
CR2 Partners
Crédito Associativo : +R$29.3mm;
2Q12 3
5. Contracted Sales
Inventory in Units
1.396 1.379
1.341
1.278
-33%
853
2Q11 3Q11 4Q11 1Q12 2Q12
2Q12 5
6. Inventory
Inventory at Market Price* Inventory in Units*
Date 1Q12 2Q12 ∆ 1Q12 2Q12 ∆
Delivered 65.518 44.343 (21.175) 428 276 -152
3Q12 81.295 53.572 (27.723) 789 526 -263
4Q12 11.094 9.476 (1.618) 48 41 -7
1Q13 2.561 1.829 (732) 14 10 -4
0
0
Total 160.468 109.220 -51.248 1.279 853 -426
*Inventory %CR2 at Market Price in R$mm
Inventory at Market Value Inventory at Market Value Inventory at Market Value
Construction Status Average Price Region
2%
8%
Under Construction > R$170k
Capital and
Metropolitan Area of RJ
44% 48% R$171k - R$350k
50% Metropolitan Area of SP
56%
Completed R$351k - 1,000k
92%
0%
2Q12 6
7. Land Bank
Average Price Total PSV CR2 PSV
Project City (State) Segment Units % CR2
(R$ 000) (R$ mm) (R$ mm)
Cidade Paradiso Nova Iguaçu (RJ) Economy 95 23.183 2.202 2.202 100%
Parque das Águas São Gonçalo (RJ) Economy 137 3.253 446 357 80%
Sta. Cecília – Madureira Nova Iguaçu (RJ) Economy 100 3.500 350 350 100%
Diamond White (Chafi Chaia) Campo Grande (RJ) Medium 518 42 22 17 80%
Diamond Black (Chafi Chaia) Campo Grande (RJ) Commercial 316 117 37 30 80%
Manaú 2 Guarulhos (SP) Economy 109 450 49 42 86%
Top Life Village (Colônia Paraíso) S. J. Campos (SP) Economy 100 392 39 34 86%
Total 102 30.937 3.146 3.032 96%
% Projects PSV on our Land bank
5%
11%
Cidade Paradiso
14% Parque das Águas
70% Sta. Cecília – Madureira
Outros
2Q12 7
8. Jardim Paradiso
Units of Jardim Paradiso IIB-III finished and awaiting for the
certificate of acceptance of occupancy
Photos from the scene
2Q12 8
9. 2012 Result
Reduction of R$10.1mm of Corporate Debt
Emphasize the amortization of our Gross Debt
R$7mm loan with Helbor, whose Corporate vs. SFH (R$mm)
balance ended 2Q12 in R$2.8 mm 242 239
and as of today, has been fully paid. 237
213
202
48% 50% 47%
90 80 41%
110 29% 72 41%
29% 25% 71
Amortization of R$1.0mm of SFH 25%
21%
The biggest being R$7.7mm from
152 158
Parque das Águas IB. R$10mm have 127 142 132
been disbursed and can be mostly
explained by Jardim Paradiso project
2Q11 3Q11 4Q11 1Q12 2Q12
R$5.7mm and Valqueire II project
R$3.2mm. Corporate Debt SFH
Net Debt/Equity (ex-SFH) Net Debt/Equity (including SFH)
2Q12 9
11. Receivables
(R$'000) 2Q12 1Q12
Receivables from Real Estate Sales 343.067 322.323
Revenues to be Recognized 34.313 44.928
Advances from Clients (23.319) (28.964)
TOTAL Recevables from Clients 354.061 338.287
Receivable from Transfer of Receivables 51.162 58.823
Direct Financing 8.444 8.024
TOTAL Receivables 413.666 405.134
Total Net
Total Receivables (R$'000) SFH
Receivables Receivables
Performed - SHF Paid Down 114.429 - 114.429
Performed - Amortizating SFH 39.385 16.561 22.824
To be Performed - 2012 105.197 54.002 51.195
2013 + 154.656 - 154.656
Total 413.666 70.563 343.104
2Q12 11
12. IR Contact
Investor Relations
Rogério Furtado
Chief Financial and Investor Relations Officer
Contact:
www.cr2.com.br/ri
ri@cr2.com.br
Phone: +55 (21) 3095-4600 / 3031-4600
This presentation contains certain statements that are neither reported financial results or other historical information. They are forward-looking statements.
Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by
the statements. Many of these risks and uncertainties relate to factors that are beyond CR2’s ability to control or estimate precisely, such as future market
conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators, the Company's ability to continue to obtain
sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or
technological trends or conditions, inflation and consumer confidence, on a global, regional or national basis.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. CR2 does not
undertake any obligation to publicly release any revisions to these forward looking statements to reflect events or circumstances after the date of this
presentation.
2Q12 12
