SlideShare una empresa de Scribd logo
1 de 15
Descargar para leer sin conexión
BRProperties
1Q12 Earnings Release Presentation
Highlights

                 1Q12 Net Revenues totaled R$101.2 million, an increase of 30% over 1Q11, when net revenues came in at R$77.8
                  million. It is worth mentioning that the recently incorporated properties from One Properties had no impact on the
                  quarter’s revenues;

                 1Q12 Adjusted EBITDA of R$91.8 million, a 34% increase over 1Q11 and adjusted EBITDA margin of 91%; 1Q12
   Financial      no adjustments EBITDA reached R$87.3 million, with EBITDA margin of 86% (adjusted EBITDA excludes non cash
   Highlights     and non recurring expenses);

                 1Q12 Net Income totaled R$452.7 million, impacted by the net gain on appraisal of investment properties (includes
                  gains on appraisal of properties that came with One Properties’ portfolio) and by the net operating profit of the quarter;

                 1Q12 Adjusted FFO totaled R$51.8 million, with adjusted FFO margin of 51%;

                 On March 29th, One Properties was incorporated by BR Properties;

                 During 1Q12, the Company reached leasing spreads (net of inflation) of 34,0% on new leases signed, and 36.1% in
                  office buildings and 13.1% in the industrial properties in market alignments of existing contracts;

                 The financial vacancy rate was reduced to 1.1%, while physical vacancy rate came in at 1.0%. In terms of area,
                  our office, industrial, and retail properties were 98.4%, 99.2%, and 100.0% occupied at the end of the quarter,
                  respectively;

   Operating     The Company sold two properties in April, 2012. Ed. Olympic Tower was sold by R$14.0 million, which
   Highlights     represented an exit cap rate of 8.9%, while Ed. Paulista Plaza was sold by R$20.0 million, resulting in an exit cap
                  rate of 10.0%;

                 On April 11th, the municipality of Rio de Janeiro granted the move-in permits (Habite-se) to Ed. Manchete. The
                  property is 100% leased and will begin generating rent revenues on 2Q12;

                 On April 30th, the acquisition of an 87% stake of Ed. Ventura - East Tower was approved in the Extraordinary
                  Shareholders’ Meeting. With the acquisition, BR Properties strengthens its presence in Rio de Janeiro’s triple A
                  office market, by holding 213.5 thousand m² of GLA (Ventura - East and West Tower, Manchete, CES
                  Petrobrás, Sylvio Fraga).



BRProperties                                                   2                                                                1Q12
Portfolio

            Portfolio Market Value                                         1Q12 Revenue Breakdown


       Portfolio Market Value (R$ million)
        1Q12          1Q11         Var %                                                                            10%
                                                                                               Leasing                          Office
       11,715              5,254               123%     Straight-line                           94%
                                                            4%                                                            51%   Industrial
                                                                                                              39%
                                                            Services                                                            Retail
                                                              2%




             Portfolio Breakdown                                            Portfolio Breakdown
              (% market value)                                                    (% GLA)


                                                                                      19%           19%
                  30%
                                         39%
                                                                                 6%


                  7%
                               24%                                                                 56%




         Office   Industrial    Retail    Development                   Office    Industrial     Retail   Development



BRProperties                                            3                                                                  1Q12
Financial Highlights



       Net Revenues (R$ thousand)                Net Income* (R$ thousand)



                  30%
                                                             1625%



                         101.192                                         452.713
         77.777
                                                   22.356



        1Q11               1Q12                  1Q11                       1Q12



                                        * Impacted by the net gain on appraisal of investment
                                        properties




BRProperties                        4                                                1Q12
Financial Highlights


                                           1Q12 Income Statement

               Income Statement                                 1Q12        1Q11        var %
               Gross Revenues                                   108.587      84.860        28%
                 Taxes (PIS/Cofins and ISS)                       (7.192)     (6.844)      5%
                 Deductions                                         (203)       (239)     -15%
               Net Revenues                                     101.192      77.777        30%
               Cost of Leased Properties                             -           -          n/a
               Gross Profit                                     101.192      77.777        30%
               General and Administrative Expenses               (13.884)    (10.679)      30%
               Net Financial Result                              (15.880)    (40.630)     -61%
                 Financial Income                                86.110      62.700       37%
                 Financial Expenses                             (101.990)   (103.331)      -1%
               Other Operating Income                               470         (101)    -564%
               Gain (loss) on Sale of Properties                     -        (1.516)    -100%
               Gain on Appraisal of Investment Properties       729.906          -          n/a
               Income (loss) before taxes                       801.804      24.850      3127%
               Income and Social Contribution taxes               (4.985)     (7.270)     -31%
               Deferred taxes                                   (344.107)     4.777     -7304%
               Net Income (loss)                                452.713      22.356      1925%




BRProperties                                                5                                     1Q12
Financial Highlights

     Adjusted EBITDA (R$ thousand)                                       EBITDA (no adjustments) (R$ thousand)
                                         91%
                                                                                                                 86%
                                                                                      86%

           88%

                                                                                                 30%
                         34%



                                                                                                             87.309
                                    91.778
                                                                                      67.097
          68.368




         1Q11                         1Q12                                           1Q11                     1Q12

                   Adjusted EBITDA Margin                                                        EBITDA Margin


                    Adjusted EBITDA Breakdown                            1Q12         1Q11       var %
                    Net Income (loss)                                     452.713       22.356     1925%
                    (+) Income and Social Contribution taxes              349.092        2.493   13900%
                    (-) Gain on Appraisal of Investment Properties       (729.906)         -           n/a
                    (-) Gain (loss) on Sale of Properties                     -          1.516     -100%
                    (-) Other Operating Income                               (470)         101     -564%
                    (-) Net Financial Result                               15.880       40.630       -61%
                    EBITDA                                                 87.309       67.097        30%
                    EBITDA Margin                                             86%          86%      0 p.p.
                    (+) Bonus Provision                                     1.149        1.149         0%
                    (+) Stock Option Provision                              1.288          122      957%
                    (+) Merger Expenses                                     2.033          -           n/a
                    Adjusted EBITDA                                        91.778       68.368        34%
                    Adjusted EBITDA Margin                                    91%          88%      3 p.p.


BRProperties                                                         6                                                 1Q12
Financial Highlights

                                    Adjusted FFO (R$ thousand)
                                                                       51%
                                       11%



                                                     502%



                                                                 51.849



                                        8.619

                                      1Q11                        1Q12

                                                 Adjusted FFO Margin


           Adjusted FFO Breakdown                                1Q12        1Q11        var %
           Net Income (loss)                                      452.713      22.356       1925%
           (-) Gain (loss) on Sale of Properties                      -         1.516       -100%
           (-) Gain on Appraisal of Investment Properties        (729.906)        -            n/a
           (+) Deferred Taxes                                     344.107      (4.777)    -7304%
           (+) Cost of Leased Properties                              -           -            n/a
           (+) Non-cash Losses on Exchange Rate Variation          33.064       6.463        412%
           (-) Non-cash Gains on Exchange Rate Variation          (48.128)    (16.940)       184%
           Adjusted FFO                                            51.849       8.619        502%
           Adjusted FFO Margin                                        51%         11%      40 p.p.
           Adjusted FFO per Share (Annualized)                R$     0,67 R$     0,25        171%



BRProperties                                           7                                             1Q12
Debt

                     1Q12 Net Debt (R$ mn)                                                   1Q12 Debt Index Breakdown
                               3.803        4.664        1.104
                                                                                                            1%
                                                                       3.560
                                                                                                      16%                  TR

                                                                                                                   47%     CDI
                   14                                                                                                      IGPM
       847
                                                                                                     35%
                                                                                                                           INPC
   ST Debt   Obligations     LT Debt      Total Debt       Cash        Net Debt
                 for
             Acquisitions

                                                    Net Debt                            1Q12          4Q11         var %
                        Short Term Loans and Financing                                   861.508       198.731      334%
                            Loans and Financing                                          793.883       128.902     516%
                            Perpetual Bond                                                53.414        54.988       -3%
                            Derivative Instruments                                           (43)          836     -105%
                            Payables for Acquisition of Real Estate                       14.254        14.006       2%

                        Long Term Loans and Financing                                   3.802.561     1.938.406     96%
                              Loans and Financing                                       3.324.361     1.445.960    130%
                              Perpetual Bond                                              478.200       492.446     -3%
                        Gross Debt                                                      4.664.069     2.137.137    118%
                        Cash and Cash Equivalents                                       1.104.247     1.032.350     7%
                        Net Debt                                                        3.559.822     1.104.787    222%
                        Portfolio Value                                                11.714.853     5.253.543    123%
                        Gross Debt / Portfolio Value (Loan to Value)                          40%           41%     -2%
                        Net Debt / Portfolio Value (Loan to Value)                            30%           21%    44%
                        Adjusted EBITDA / Net Financial Expenses *                            3,0x          2,5x   19%
                        Duration (years) **                                                    4,3           5,7   -24%
                        * Considers Net Financial Expenses (ex. non-cash variations)
                        ** Considers the amortization of the perpetual bond in 2023



BRProperties                                                                      8                                               1Q12
Debt

                                                          Debt Service Schedule (R$ million)


                                          425
                             302
                                                    336
                                                              309                  346
                                                                       287
                                                                                                218         200
                             572          559                                                                            194
                                                    421       372                  362                                               190
                                                                       308                      243         237                                  186
                                                                                                                         200
                                                                                                                                     92          62
                        2012          2013         2014      2015     2016         2017         2018        2019         2020        2021         2022

                                                                       Principal           Interest


        Adjusted EBITDA / Net Financial Expenses                                                             Loan to Value: Gross and Net


        3,5x

                                                                     3,0x
                                                    2,7x                                                                              45%         43%
 2,5x                                                       2,5x
                                                                                          38%         40%                 40%                                42%   41%
               2,4x
                      2,1x                                                                                                                                                  40%
                                           1,6x                                                               24%
                               1,4x                                                                                                        36%                            30%
                                                                                                                               36%
                                                                                                                                                  35%

                                                                                           4%          23%         21%                                      21%    21%



1Q10    2Q10   3Q10   4Q10         1Q11     2Q11     3Q11     4Q11   1Q12               1Q10      2Q10        3Q10        4Q10        1Q11        2Q11      3Q11   4Q11   1Q12

                               DSC ratio
                                                                                                                         LTV Gross Debt      LTV Net Debt



BRProperties                                                                        9                                                                              1Q12
Operating Highlights

                                    Leasing Spreads


               Leasing Spread - Market Alignments     1Q12      1Q11
               Leasing Spread - Office                  36,1%     21,5%
               Renegotiated GLA (m²)                   17.703    14.674
               % Office portfolio                          4%        5%
               Leasing Spread - Warehouse               13,1%     22,6%
               Renegotiated GLA (m²)                    6.840    14.798
               % Warehouse portfolio                       1%        2%
               Leasing Spread - Retail                    n/a       n/a
               Renegotiated GLA (m²)                      -         -
               % Retail portfolio                          0%        0%
               Leasing Spread - New Leases            1Q12      1Q11
               Leasing Spread - Office                  34,0%     15,5%
               Leased GLA (m²)                          5.190     8.343
               % Office portfolio                          1%        3%
               Leasing Spread - Warehouse                0,4%     11,1%
               Leased GLA (m²)                         52.924    12.889
               % Warehouse portfolio                       5%        2%
               Leasing Spread - Retail                    n/a       n/a
               Leased GLA (m²)                            -         -
               % Retail portfolio                          0%        0%




BRProperties                                10                            1Q12
Operating Highlights

                   Portfolio – Financial and Physical vacancy of 1.1% and 1.0%, respectively

                   Vacancy Breakdown                                                 Financial Vacancy per Segment

                                                                                     1,6%
                               1,7%                          Physical                                                    Office
            1,5%
                                                             Financial                                                   Industrial
                                                                                                                         Retail
                                             1,0%     1,1%
                        0,9%                                                                             0,8%
   0,9%



                                                                                                                0,2%
                                                                                            0,0% 0,0%                  0,0%

     3Q11                  4Q11                     1Q12                                    4Q11                1Q12

                          Vacancy per Property 1Q12
                                 Property              Type              Financial            Physical
                            CBOP - Jacarandá           Office              0,4%                0,2%
                                 Raja Hills            Office              0,0%                0,0%
                              Olympic Tower            Office              0,0%                0,0%
                           Ventura - Torre Oeste       Office              0,1%                0,0%
                                  Brasília             Office              0,3%                0,2%
                               Total Office                                 0,8%                0,5%
                               BBP Topázio            Industrial           0,1%                0,1%
                                BP Itapevi            Industrial           0,1%                0,3%
                               Cond.Ind.SJC           Industrial           0,0%                0,1%
                             Total Industrial                               0,2%                0,6%
                              Total Portfolio                               1,1%                1,0%




BRProperties                                                       11                                                     1Q12
Operating Highlights

                              Lease Contract Expiration Schedule
               % Revenues                                                 % GLA



                                                                                         56%
                                    76%

                                                                                  21%
        3%              11%                              3%
                                                                   20%
               10%

     2012    2013       2014        >2015             2012         2013           2014   >2015



                     Lease Contract 3 Year Market Alignment Schedule

               % Revenues                                                 % GLA

                                   10%                                                   4%

                                                                                  41%
                       43%

                                                                   21%
             27%
                                                        35%
      20%

     2012    2013      2014         >2015             2012         2013           2014   >2015




BRProperties                                  12                                               1Q12
Operating Highlights

        Number of Managed Properties                Property Management - BRPRA

                                                    Managed Properties        Nº   GLA
                                            Athenas                           1      6.718
                                            Gloria                            1      8.436
                                            Henrique Schaumann                1     14.125
            29                 29           Joaquim Floriano                  1      3.899
                                            Mairynk Veiga (MV9)               1     12.511
                                            Santo Antonio                     1      5.017
                                            São José                          1      5.080
                                            Icomap                            1      9.164
                                            Vargas                            1     14.809
          1Q11                 1Q12         Panamerica Park                   9     45.020
                                            Ouvidor                           1      6.284
       Property Management Revenues         CBOP - Ed. Jacarandá              1     31.954
                (R$ thousand)               TNU                               1     27.931
                                            BP Jundiaí                        1     53.343
                                            Cond. Indl. São José dos Campos   1     73.382
                    73%                     BP Jandira                        2     34.304
                                            BP Itapevi                        1     33.526
                                            RB 115                            1     11.516
                                            Plaza Centenário                  1      3.366
                            1.831
                                            Ed. Comercial Indaiatuba          1     11.335
            1.059
                                            TOTAL                             29   411.720

           1Q11              1Q12



BRProperties                           13                                          1Q12
Capital Markets

                              Performance BRPR3 VS IBOVESPA                                                                  Shareholder Base
40%
            BRPR3
            IBOV
30%
            IMOB
20%

10%                                                                                                                                     BTG Pactual
                                                                                                                                          28,2%
 0%

-10%
                                                                                                                     Other
                                                                                                                     56,3%                  W Torre
-20%
                                                                                                                                             8,4%
-30%
   mai-11   jun-11   jul-11    ago-11   set-11   out-11   nov-11 dez-11   jan-12   fev-12 mar-12   abr-12
                                                                                                                                                 Laugar
   Current number of shares: 310,307,396                                                                                                    GIC 1,9%
   Market Value: R$ 7.3 billion                                                                                                             5,2%
   Average Daily Vol. (30d): R$ 20.8 million
   * As of May 11th, 2012


                              Stock Performance (BRPR3)                                                 1Q12        1Q11         var %
                              Total Number of Shares                                                 309.817.416 139.511.953       122,1%
                              Free Float (%)                                                                  99%         99%        0,0%
                              Stock Price (average for the period)                                          20,58       17,32       18,8%
                              Stock Price (end of period)                                                   23,44       17,15       36,7%
                              Market Cap end of period (R$ million)                                       7.262,1     2.392,6      203,5%
                              Average Daily Trading Volume (R$ million)                                     22,30        8,29      169,0%
                              Average Daily Traded Shares                                              1.067.426     478.877       122,9%
                              Average Daily negotiations                                                    3.026         455      565,1%


BRProperties                                                                              14                                                     1Q12
IR Contacts


                     Investor Relations

                       Pedro Daltro
               CFO & Investor Relations Officer

                    Leonardo Fernandes
                 Investor Relations Manager

                       Marcos Haertel
                  Investor Relations Analyst

                  Phone: (55 11) 3201-1000
                   Email: ri@brpr.com.br




                  www.brpr.com.br/ri




BRProperties                 15                   1Q12

Más contenido relacionado

La actualidad más candente

northrop grumman Slide Presentation 2007 4th
northrop grumman Slide Presentation 2007 4thnorthrop grumman Slide Presentation 2007 4th
northrop grumman Slide Presentation 2007 4thfinance8
 
Generali Group first half results 2011
Generali Group first half results 2011Generali Group first half results 2011
Generali Group first half results 2011Generali
 
Merrill lynch russia metals & mining investor fieldtrip 310709
Merrill lynch russia metals & mining investor fieldtrip 310709Merrill lynch russia metals & mining investor fieldtrip 310709
Merrill lynch russia metals & mining investor fieldtrip 310709evraz_company
 
BME Financial Results 1H11
BME Financial Results 1H11BME Financial Results 1H11
BME Financial Results 1H11BMEGroup
 
CLOrox q4_fy05_supplemental
CLOrox   q4_fy05_supplementalCLOrox   q4_fy05_supplemental
CLOrox q4_fy05_supplementalfinance48
 
danaher 07_2Q_Preso
danaher 07_2Q_Presodanaher 07_2Q_Preso
danaher 07_2Q_Presofinance24
 
3 q11 presentation
3 q11 presentation3 q11 presentation
3 q11 presentationbrproperties
 
ameriprise 1Q08_Supplement
ameriprise 1Q08_Supplementameriprise 1Q08_Supplement
ameriprise 1Q08_Supplementfinance43
 
baxter international Q3/06 Schedules
baxter international Q3/06 Schedulesbaxter international Q3/06 Schedules
baxter international Q3/06 Schedulesfinance24
 
Q2 2008 Motorola, Inc. Earnings Conference Call Presentation
Q2 2008 Motorola, Inc. Earnings Conference Call PresentationQ2 2008 Motorola, Inc. Earnings Conference Call Presentation
Q2 2008 Motorola, Inc. Earnings Conference Call Presentationfinance7
 
Q32003_supplemental
Q32003_supplementalQ32003_supplemental
Q32003_supplementalfinance41
 
EP2Q05OpStats
EP2Q05OpStatsEP2Q05OpStats
EP2Q05OpStatsfinance49
 
2Q08_Op_Stats_Final
2Q08_Op_Stats_Final2Q08_Op_Stats_Final
2Q08_Op_Stats_Finalfinance49
 

La actualidad más candente (17)

northrop grumman Slide Presentation 2007 4th
northrop grumman Slide Presentation 2007 4thnorthrop grumman Slide Presentation 2007 4th
northrop grumman Slide Presentation 2007 4th
 
Generali Group first half results 2011
Generali Group first half results 2011Generali Group first half results 2011
Generali Group first half results 2011
 
Merrill lynch russia metals & mining investor fieldtrip 310709
Merrill lynch russia metals & mining investor fieldtrip 310709Merrill lynch russia metals & mining investor fieldtrip 310709
Merrill lynch russia metals & mining investor fieldtrip 310709
 
BME Financial Results 1H11
BME Financial Results 1H11BME Financial Results 1H11
BME Financial Results 1H11
 
Q3 2009 Earning Report of Alcoa, Inc.
Q3 2009 Earning Report of Alcoa, Inc.Q3 2009 Earning Report of Alcoa, Inc.
Q3 2009 Earning Report of Alcoa, Inc.
 
CLOrox q4_fy05_supplemental
CLOrox   q4_fy05_supplementalCLOrox   q4_fy05_supplemental
CLOrox q4_fy05_supplemental
 
danaher 07_2Q_Preso
danaher 07_2Q_Presodanaher 07_2Q_Preso
danaher 07_2Q_Preso
 
3 q11 presentation
3 q11 presentation3 q11 presentation
3 q11 presentation
 
ameriprise 1Q08_Supplement
ameriprise 1Q08_Supplementameriprise 1Q08_Supplement
ameriprise 1Q08_Supplement
 
1Q11 Presentation
1Q11 Presentation1Q11 Presentation
1Q11 Presentation
 
2Q12 Presentation
2Q12 Presentation2Q12 Presentation
2Q12 Presentation
 
baxter international Q3/06 Schedules
baxter international Q3/06 Schedulesbaxter international Q3/06 Schedules
baxter international Q3/06 Schedules
 
.credit-suisse - Presentation
 .credit-suisse - Presentation .credit-suisse - Presentation
.credit-suisse - Presentation
 
Q2 2008 Motorola, Inc. Earnings Conference Call Presentation
Q2 2008 Motorola, Inc. Earnings Conference Call PresentationQ2 2008 Motorola, Inc. Earnings Conference Call Presentation
Q2 2008 Motorola, Inc. Earnings Conference Call Presentation
 
Q32003_supplemental
Q32003_supplementalQ32003_supplemental
Q32003_supplemental
 
EP2Q05OpStats
EP2Q05OpStatsEP2Q05OpStats
EP2Q05OpStats
 
2Q08_Op_Stats_Final
2Q08_Op_Stats_Final2Q08_Op_Stats_Final
2Q08_Op_Stats_Final
 

Similar a 1Q12 Presentation

motorola 2001 Summary Annual Report
motorola 	2001 Summary Annual Reportmotorola 	2001 Summary Annual Report
motorola 2001 Summary Annual Reportfinance7
 
Sun Microsystems Q109 Quaterly Results Release
Sun Microsystems Q109 Quaterly Results ReleaseSun Microsystems Q109 Quaterly Results Release
Sun Microsystems Q109 Quaterly Results Releaseearningsreport
 
4 q12 br properties earnings release presentation - final
4 q12 br properties   earnings release presentation - final4 q12 br properties   earnings release presentation - final
4 q12 br properties earnings release presentation - finalbrproperties
 
4 q12 br properties earnings release presentation - final (1)
4 q12 br properties   earnings release presentation - final (1)4 q12 br properties   earnings release presentation - final (1)
4 q12 br properties earnings release presentation - final (1)brproperties
 
1 Q09 Earnings Eng Final[20090421134102809]
1 Q09 Earnings Eng Final[20090421134102809]1 Q09 Earnings Eng Final[20090421134102809]
1 Q09 Earnings Eng Final[20090421134102809]Sang Park
 
Sun microsystems Q2 2009 earnings releases
Sun microsystems Q2 2009 earnings releasesSun microsystems Q2 2009 earnings releases
Sun microsystems Q2 2009 earnings releasesearningsreport
 
Profarma 1Q12
Profarma 1Q12Profarma 1Q12
Profarma 1Q12Profarma
 
Press Release 1 Q01 Tele Celular Sul En
Press Release 1 Q01   Tele Celular Sul EnPress Release 1 Q01   Tele Celular Sul En
Press Release 1 Q01 Tele Celular Sul EnTIM RI
 
citigroup April 15, 2002 - First Quarter Financial Supplement
citigroup April 15, 2002 - First Quarter Financial Supplementcitigroup April 15, 2002 - First Quarter Financial Supplement
citigroup April 15, 2002 - First Quarter Financial SupplementQuarterlyEarningsReports
 
citigroup Financial Supplement Reclassifications for 1Q05
citigroup Financial Supplement Reclassifications for 1Q05citigroup Financial Supplement Reclassifications for 1Q05
citigroup Financial Supplement Reclassifications for 1Q05QuarterlyEarningsReports
 
ADM Latest Earnings Presentation.
ADM Latest Earnings Presentation. ADM Latest Earnings Presentation.
ADM Latest Earnings Presentation. finance6
 
2Q11 Presentation
2Q11 Presentation2Q11 Presentation
2Q11 PresentationGafisa RI !
 
CLOrox q4_fy05_pl_supplement
CLOrox   q4_fy05_pl_supplementCLOrox   q4_fy05_pl_supplement
CLOrox q4_fy05_pl_supplementfinance48
 
презентация для инвесторов, сентябрь 2012
презентация для инвесторов, сентябрь 2012презентация для инвесторов, сентябрь 2012
презентация для инвесторов, сентябрь 2012evraz_company
 
Press Release 2 Q01 Tele Celular Sul En
Press Release 2 Q01   Tele Celular Sul EnPress Release 2 Q01   Tele Celular Sul En
Press Release 2 Q01 Tele Celular Sul EnTIM RI
 

Similar a 1Q12 Presentation (20)

motorola 2001 Summary Annual Report
motorola 	2001 Summary Annual Reportmotorola 	2001 Summary Annual Report
motorola 2001 Summary Annual Report
 
3Q12 Presentation
3Q12 Presentation3Q12 Presentation
3Q12 Presentation
 
Sun Microsystems Q109 Quaterly Results Release
Sun Microsystems Q109 Quaterly Results ReleaseSun Microsystems Q109 Quaterly Results Release
Sun Microsystems Q109 Quaterly Results Release
 
1 q09
1 q091 q09
1 q09
 
4 q12 br properties earnings release presentation - final
4 q12 br properties   earnings release presentation - final4 q12 br properties   earnings release presentation - final
4 q12 br properties earnings release presentation - final
 
4 q12 br properties earnings release presentation - final (1)
4 q12 br properties   earnings release presentation - final (1)4 q12 br properties   earnings release presentation - final (1)
4 q12 br properties earnings release presentation - final (1)
 
1 Q09 Earnings Eng Final[20090421134102809]
1 Q09 Earnings Eng Final[20090421134102809]1 Q09 Earnings Eng Final[20090421134102809]
1 Q09 Earnings Eng Final[20090421134102809]
 
citigroup Financial Supplement
citigroup Financial Supplementcitigroup Financial Supplement
citigroup Financial Supplement
 
citigroup Qer084s
citigroup Qer084scitigroup Qer084s
citigroup Qer084s
 
Sun microsystems Q2 2009 earnings releases
Sun microsystems Q2 2009 earnings releasesSun microsystems Q2 2009 earnings releases
Sun microsystems Q2 2009 earnings releases
 
Profarma 1Q12
Profarma 1Q12Profarma 1Q12
Profarma 1Q12
 
Press Release 1 Q01 Tele Celular Sul En
Press Release 1 Q01   Tele Celular Sul EnPress Release 1 Q01   Tele Celular Sul En
Press Release 1 Q01 Tele Celular Sul En
 
citigroup April 15, 2002 - First Quarter Financial Supplement
citigroup April 15, 2002 - First Quarter Financial Supplementcitigroup April 15, 2002 - First Quarter Financial Supplement
citigroup April 15, 2002 - First Quarter Financial Supplement
 
citigroup Financial Supplement Reclassifications for 1Q05
citigroup Financial Supplement Reclassifications for 1Q05citigroup Financial Supplement Reclassifications for 1Q05
citigroup Financial Supplement Reclassifications for 1Q05
 
Q1 2009 Earning Report of Genuine Parts Company
Q1 2009 Earning Report of Genuine Parts CompanyQ1 2009 Earning Report of Genuine Parts Company
Q1 2009 Earning Report of Genuine Parts Company
 
ADM Latest Earnings Presentation.
ADM Latest Earnings Presentation. ADM Latest Earnings Presentation.
ADM Latest Earnings Presentation.
 
2Q11 Presentation
2Q11 Presentation2Q11 Presentation
2Q11 Presentation
 
CLOrox q4_fy05_pl_supplement
CLOrox   q4_fy05_pl_supplementCLOrox   q4_fy05_pl_supplement
CLOrox q4_fy05_pl_supplement
 
презентация для инвесторов, сентябрь 2012
презентация для инвесторов, сентябрь 2012презентация для инвесторов, сентябрь 2012
презентация для инвесторов, сентябрь 2012
 
Press Release 2 Q01 Tele Celular Sul En
Press Release 2 Q01   Tele Celular Sul EnPress Release 2 Q01   Tele Celular Sul En
Press Release 2 Q01 Tele Celular Sul En
 

Más de brproperties

2 t14 divulgação de resultados apresentação
2 t14 divulgação de resultados apresentação2 t14 divulgação de resultados apresentação
2 t14 divulgação de resultados apresentaçãobrproperties
 
2 q14 earnings release presentation (1)
2 q14 earnings release presentation (1)2 q14 earnings release presentation (1)
2 q14 earnings release presentation (1)brproperties
 
1 q14 earnings release presentation
1 q14 earnings release presentation1 q14 earnings release presentation
1 q14 earnings release presentationbrproperties
 
1 t14 divulgação de resultados apresentação
1 t14 divulgação de resultados apresentação1 t14 divulgação de resultados apresentação
1 t14 divulgação de resultados apresentaçãobrproperties
 
4 q13 earnings release presentation
4 q13 earnings release presentation4 q13 earnings release presentation
4 q13 earnings release presentationbrproperties
 
4 t13 divulgação de resultados
4 t13 divulgação de resultados4 t13 divulgação de resultados
4 t13 divulgação de resultadosbrproperties
 
3 q13 br properties earnings release presentation
3 q13 br properties   earnings release presentation3 q13 br properties   earnings release presentation
3 q13 br properties earnings release presentationbrproperties
 
3 t13 br properties divulgação dos resultados apresentação
3 t13 br properties   divulgação dos resultados apresentação3 t13 br properties   divulgação dos resultados apresentação
3 t13 br properties divulgação dos resultados apresentaçãobrproperties
 
Presentation real estate investment fund
Presentation   real estate investment fundPresentation   real estate investment fund
Presentation real estate investment fundbrproperties
 
Apresentação propriedades fii
Apresentação   propriedades fiiApresentação   propriedades fii
Apresentação propriedades fiibrproperties
 
Apresentação reunião apimec 2013
Apresentação   reunião apimec 2013Apresentação   reunião apimec 2013
Apresentação reunião apimec 2013brproperties
 
Portfolio presentation august 2013
Portfolio presentation   august 2013Portfolio presentation   august 2013
Portfolio presentation august 2013brproperties
 
Apresentação do portfólio agosto 2013
Apresentação do portfólio   agosto 2013Apresentação do portfólio   agosto 2013
Apresentação do portfólio agosto 2013brproperties
 
Company presentation august 2013
Company presentation   august 2013Company presentation   august 2013
Company presentation august 2013brproperties
 
Apresentação institucional agosto de 2013
Apresentação institucional   agosto de 2013Apresentação institucional   agosto de 2013
Apresentação institucional agosto de 2013brproperties
 
2 t13 br properties divulgação dos resultados apresentação
2 t13 br properties   divulgação dos resultados apresentação2 t13 br properties   divulgação dos resultados apresentação
2 t13 br properties divulgação dos resultados apresentaçãobrproperties
 
2 q13 br properties earnings release presentation
2 q13 br properties   earnings release presentation2 q13 br properties   earnings release presentation
2 q13 br properties earnings release presentationbrproperties
 
1 q13 br properties nova apresentaçao
1 q13 br properties   nova apresentaçao1 q13 br properties   nova apresentaçao
1 q13 br properties nova apresentaçaobrproperties
 
1 q13 br properties earnings release presentation
1 q13 br properties   earnings release presentation1 q13 br properties   earnings release presentation
1 q13 br properties earnings release presentationbrproperties
 
1 t13 br properties divulgação dos resultados apresentação
1 t13 br properties   divulgação dos resultados apresentação1 t13 br properties   divulgação dos resultados apresentação
1 t13 br properties divulgação dos resultados apresentaçãobrproperties
 

Más de brproperties (20)

2 t14 divulgação de resultados apresentação
2 t14 divulgação de resultados apresentação2 t14 divulgação de resultados apresentação
2 t14 divulgação de resultados apresentação
 
2 q14 earnings release presentation (1)
2 q14 earnings release presentation (1)2 q14 earnings release presentation (1)
2 q14 earnings release presentation (1)
 
1 q14 earnings release presentation
1 q14 earnings release presentation1 q14 earnings release presentation
1 q14 earnings release presentation
 
1 t14 divulgação de resultados apresentação
1 t14 divulgação de resultados apresentação1 t14 divulgação de resultados apresentação
1 t14 divulgação de resultados apresentação
 
4 q13 earnings release presentation
4 q13 earnings release presentation4 q13 earnings release presentation
4 q13 earnings release presentation
 
4 t13 divulgação de resultados
4 t13 divulgação de resultados4 t13 divulgação de resultados
4 t13 divulgação de resultados
 
3 q13 br properties earnings release presentation
3 q13 br properties   earnings release presentation3 q13 br properties   earnings release presentation
3 q13 br properties earnings release presentation
 
3 t13 br properties divulgação dos resultados apresentação
3 t13 br properties   divulgação dos resultados apresentação3 t13 br properties   divulgação dos resultados apresentação
3 t13 br properties divulgação dos resultados apresentação
 
Presentation real estate investment fund
Presentation   real estate investment fundPresentation   real estate investment fund
Presentation real estate investment fund
 
Apresentação propriedades fii
Apresentação   propriedades fiiApresentação   propriedades fii
Apresentação propriedades fii
 
Apresentação reunião apimec 2013
Apresentação   reunião apimec 2013Apresentação   reunião apimec 2013
Apresentação reunião apimec 2013
 
Portfolio presentation august 2013
Portfolio presentation   august 2013Portfolio presentation   august 2013
Portfolio presentation august 2013
 
Apresentação do portfólio agosto 2013
Apresentação do portfólio   agosto 2013Apresentação do portfólio   agosto 2013
Apresentação do portfólio agosto 2013
 
Company presentation august 2013
Company presentation   august 2013Company presentation   august 2013
Company presentation august 2013
 
Apresentação institucional agosto de 2013
Apresentação institucional   agosto de 2013Apresentação institucional   agosto de 2013
Apresentação institucional agosto de 2013
 
2 t13 br properties divulgação dos resultados apresentação
2 t13 br properties   divulgação dos resultados apresentação2 t13 br properties   divulgação dos resultados apresentação
2 t13 br properties divulgação dos resultados apresentação
 
2 q13 br properties earnings release presentation
2 q13 br properties   earnings release presentation2 q13 br properties   earnings release presentation
2 q13 br properties earnings release presentation
 
1 q13 br properties nova apresentaçao
1 q13 br properties   nova apresentaçao1 q13 br properties   nova apresentaçao
1 q13 br properties nova apresentaçao
 
1 q13 br properties earnings release presentation
1 q13 br properties   earnings release presentation1 q13 br properties   earnings release presentation
1 q13 br properties earnings release presentation
 
1 t13 br properties divulgação dos resultados apresentação
1 t13 br properties   divulgação dos resultados apresentação1 t13 br properties   divulgação dos resultados apresentação
1 t13 br properties divulgação dos resultados apresentação
 

Último

NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023Steve Rader
 
To Create Your Own Wig Online To Create Your Own Wig Online
To Create Your Own Wig Online  To Create Your Own Wig OnlineTo Create Your Own Wig Online  To Create Your Own Wig Online
To Create Your Own Wig Online To Create Your Own Wig Onlinelng ths
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...AustraliaChapterIIBA
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toumarfarooquejamali32
 
Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsyasinnathani
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
Scrum Events & How to run them effectively
Scrum Events & How to run them effectivelyScrum Events & How to run them effectively
Scrum Events & How to run them effectivelyMarianna Nakou
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Winbusinessin
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.ukaroemirsr
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxWorkforce Group
 
PDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdfPDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdfHajeJanKamps
 
ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...
ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...
ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...ISONIKELtd
 
Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..dlewis191
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato pptElizangelaSoaresdaCo
 
Trauma Training Service for First Responders
Trauma Training Service for First RespondersTrauma Training Service for First Responders
Trauma Training Service for First RespondersBPOQe
 

Último (20)

NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023
 
To Create Your Own Wig Online To Create Your Own Wig Online
To Create Your Own Wig Online  To Create Your Own Wig OnlineTo Create Your Own Wig Online  To Create Your Own Wig Online
To Create Your Own Wig Online To Create Your Own Wig Online
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb to
 
Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story points
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
Scrum Events & How to run them effectively
Scrum Events & How to run them effectivelyScrum Events & How to run them effectively
Scrum Events & How to run them effectively
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024
 
WAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdfWAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdf
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.uk
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
 
PDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdfPDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdf
 
ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...
ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...
ISONIKE Ltd Accreditation for the Conformity Assessment and Certification of ...
 
Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato ppt
 
Trauma Training Service for First Responders
Trauma Training Service for First RespondersTrauma Training Service for First Responders
Trauma Training Service for First Responders
 

1Q12 Presentation

  • 2. Highlights  1Q12 Net Revenues totaled R$101.2 million, an increase of 30% over 1Q11, when net revenues came in at R$77.8 million. It is worth mentioning that the recently incorporated properties from One Properties had no impact on the quarter’s revenues;  1Q12 Adjusted EBITDA of R$91.8 million, a 34% increase over 1Q11 and adjusted EBITDA margin of 91%; 1Q12 Financial no adjustments EBITDA reached R$87.3 million, with EBITDA margin of 86% (adjusted EBITDA excludes non cash Highlights and non recurring expenses);  1Q12 Net Income totaled R$452.7 million, impacted by the net gain on appraisal of investment properties (includes gains on appraisal of properties that came with One Properties’ portfolio) and by the net operating profit of the quarter;  1Q12 Adjusted FFO totaled R$51.8 million, with adjusted FFO margin of 51%;  On March 29th, One Properties was incorporated by BR Properties;  During 1Q12, the Company reached leasing spreads (net of inflation) of 34,0% on new leases signed, and 36.1% in office buildings and 13.1% in the industrial properties in market alignments of existing contracts;  The financial vacancy rate was reduced to 1.1%, while physical vacancy rate came in at 1.0%. In terms of area, our office, industrial, and retail properties were 98.4%, 99.2%, and 100.0% occupied at the end of the quarter, respectively; Operating  The Company sold two properties in April, 2012. Ed. Olympic Tower was sold by R$14.0 million, which Highlights represented an exit cap rate of 8.9%, while Ed. Paulista Plaza was sold by R$20.0 million, resulting in an exit cap rate of 10.0%;  On April 11th, the municipality of Rio de Janeiro granted the move-in permits (Habite-se) to Ed. Manchete. The property is 100% leased and will begin generating rent revenues on 2Q12;  On April 30th, the acquisition of an 87% stake of Ed. Ventura - East Tower was approved in the Extraordinary Shareholders’ Meeting. With the acquisition, BR Properties strengthens its presence in Rio de Janeiro’s triple A office market, by holding 213.5 thousand m² of GLA (Ventura - East and West Tower, Manchete, CES Petrobrás, Sylvio Fraga). BRProperties 2 1Q12
  • 3. Portfolio Portfolio Market Value 1Q12 Revenue Breakdown Portfolio Market Value (R$ million) 1Q12 1Q11 Var % 10% Leasing Office 11,715 5,254 123% Straight-line 94% 4% 51% Industrial 39% Services Retail 2% Portfolio Breakdown Portfolio Breakdown (% market value) (% GLA) 19% 19% 30% 39% 6% 7% 24% 56% Office Industrial Retail Development Office Industrial Retail Development BRProperties 3 1Q12
  • 4. Financial Highlights Net Revenues (R$ thousand) Net Income* (R$ thousand) 30% 1625% 101.192 452.713 77.777 22.356 1Q11 1Q12 1Q11 1Q12 * Impacted by the net gain on appraisal of investment properties BRProperties 4 1Q12
  • 5. Financial Highlights 1Q12 Income Statement Income Statement 1Q12 1Q11 var % Gross Revenues 108.587 84.860 28% Taxes (PIS/Cofins and ISS) (7.192) (6.844) 5% Deductions (203) (239) -15% Net Revenues 101.192 77.777 30% Cost of Leased Properties - - n/a Gross Profit 101.192 77.777 30% General and Administrative Expenses (13.884) (10.679) 30% Net Financial Result (15.880) (40.630) -61% Financial Income 86.110 62.700 37% Financial Expenses (101.990) (103.331) -1% Other Operating Income 470 (101) -564% Gain (loss) on Sale of Properties - (1.516) -100% Gain on Appraisal of Investment Properties 729.906 - n/a Income (loss) before taxes 801.804 24.850 3127% Income and Social Contribution taxes (4.985) (7.270) -31% Deferred taxes (344.107) 4.777 -7304% Net Income (loss) 452.713 22.356 1925% BRProperties 5 1Q12
  • 6. Financial Highlights Adjusted EBITDA (R$ thousand) EBITDA (no adjustments) (R$ thousand) 91% 86% 86% 88% 30% 34% 87.309 91.778 67.097 68.368 1Q11 1Q12 1Q11 1Q12 Adjusted EBITDA Margin EBITDA Margin Adjusted EBITDA Breakdown 1Q12 1Q11 var % Net Income (loss) 452.713 22.356 1925% (+) Income and Social Contribution taxes 349.092 2.493 13900% (-) Gain on Appraisal of Investment Properties (729.906) - n/a (-) Gain (loss) on Sale of Properties - 1.516 -100% (-) Other Operating Income (470) 101 -564% (-) Net Financial Result 15.880 40.630 -61% EBITDA 87.309 67.097 30% EBITDA Margin 86% 86% 0 p.p. (+) Bonus Provision 1.149 1.149 0% (+) Stock Option Provision 1.288 122 957% (+) Merger Expenses 2.033 - n/a Adjusted EBITDA 91.778 68.368 34% Adjusted EBITDA Margin 91% 88% 3 p.p. BRProperties 6 1Q12
  • 7. Financial Highlights Adjusted FFO (R$ thousand) 51% 11% 502% 51.849 8.619 1Q11 1Q12 Adjusted FFO Margin Adjusted FFO Breakdown 1Q12 1Q11 var % Net Income (loss) 452.713 22.356 1925% (-) Gain (loss) on Sale of Properties - 1.516 -100% (-) Gain on Appraisal of Investment Properties (729.906) - n/a (+) Deferred Taxes 344.107 (4.777) -7304% (+) Cost of Leased Properties - - n/a (+) Non-cash Losses on Exchange Rate Variation 33.064 6.463 412% (-) Non-cash Gains on Exchange Rate Variation (48.128) (16.940) 184% Adjusted FFO 51.849 8.619 502% Adjusted FFO Margin 51% 11% 40 p.p. Adjusted FFO per Share (Annualized) R$ 0,67 R$ 0,25 171% BRProperties 7 1Q12
  • 8. Debt 1Q12 Net Debt (R$ mn) 1Q12 Debt Index Breakdown 3.803 4.664 1.104 1% 3.560 16% TR 47% CDI 14 IGPM 847 35% INPC ST Debt Obligations LT Debt Total Debt Cash Net Debt for Acquisitions Net Debt 1Q12 4Q11 var % Short Term Loans and Financing 861.508 198.731 334% Loans and Financing 793.883 128.902 516% Perpetual Bond 53.414 54.988 -3% Derivative Instruments (43) 836 -105% Payables for Acquisition of Real Estate 14.254 14.006 2% Long Term Loans and Financing 3.802.561 1.938.406 96% Loans and Financing 3.324.361 1.445.960 130% Perpetual Bond 478.200 492.446 -3% Gross Debt 4.664.069 2.137.137 118% Cash and Cash Equivalents 1.104.247 1.032.350 7% Net Debt 3.559.822 1.104.787 222% Portfolio Value 11.714.853 5.253.543 123% Gross Debt / Portfolio Value (Loan to Value) 40% 41% -2% Net Debt / Portfolio Value (Loan to Value) 30% 21% 44% Adjusted EBITDA / Net Financial Expenses * 3,0x 2,5x 19% Duration (years) ** 4,3 5,7 -24% * Considers Net Financial Expenses (ex. non-cash variations) ** Considers the amortization of the perpetual bond in 2023 BRProperties 8 1Q12
  • 9. Debt Debt Service Schedule (R$ million) 425 302 336 309 346 287 218 200 572 559 194 421 372 362 190 308 243 237 186 200 92 62 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Principal Interest Adjusted EBITDA / Net Financial Expenses Loan to Value: Gross and Net 3,5x 3,0x 2,7x 45% 43% 2,5x 2,5x 38% 40% 40% 42% 41% 2,4x 2,1x 40% 1,6x 24% 1,4x 36% 30% 36% 35% 4% 23% 21% 21% 21% 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 DSC ratio LTV Gross Debt LTV Net Debt BRProperties 9 1Q12
  • 10. Operating Highlights Leasing Spreads Leasing Spread - Market Alignments 1Q12 1Q11 Leasing Spread - Office 36,1% 21,5% Renegotiated GLA (m²) 17.703 14.674 % Office portfolio 4% 5% Leasing Spread - Warehouse 13,1% 22,6% Renegotiated GLA (m²) 6.840 14.798 % Warehouse portfolio 1% 2% Leasing Spread - Retail n/a n/a Renegotiated GLA (m²) - - % Retail portfolio 0% 0% Leasing Spread - New Leases 1Q12 1Q11 Leasing Spread - Office 34,0% 15,5% Leased GLA (m²) 5.190 8.343 % Office portfolio 1% 3% Leasing Spread - Warehouse 0,4% 11,1% Leased GLA (m²) 52.924 12.889 % Warehouse portfolio 5% 2% Leasing Spread - Retail n/a n/a Leased GLA (m²) - - % Retail portfolio 0% 0% BRProperties 10 1Q12
  • 11. Operating Highlights Portfolio – Financial and Physical vacancy of 1.1% and 1.0%, respectively Vacancy Breakdown Financial Vacancy per Segment 1,6% 1,7% Physical Office 1,5% Financial Industrial Retail 1,0% 1,1% 0,9% 0,8% 0,9% 0,2% 0,0% 0,0% 0,0% 3Q11 4Q11 1Q12 4Q11 1Q12 Vacancy per Property 1Q12 Property Type Financial Physical CBOP - Jacarandá Office 0,4% 0,2% Raja Hills Office 0,0% 0,0% Olympic Tower Office 0,0% 0,0% Ventura - Torre Oeste Office 0,1% 0,0% Brasília Office 0,3% 0,2% Total Office 0,8% 0,5% BBP Topázio Industrial 0,1% 0,1% BP Itapevi Industrial 0,1% 0,3% Cond.Ind.SJC Industrial 0,0% 0,1% Total Industrial 0,2% 0,6% Total Portfolio 1,1% 1,0% BRProperties 11 1Q12
  • 12. Operating Highlights Lease Contract Expiration Schedule % Revenues % GLA 56% 76% 21% 3% 11% 3% 20% 10% 2012 2013 2014 >2015 2012 2013 2014 >2015 Lease Contract 3 Year Market Alignment Schedule % Revenues % GLA 10% 4% 41% 43% 21% 27% 35% 20% 2012 2013 2014 >2015 2012 2013 2014 >2015 BRProperties 12 1Q12
  • 13. Operating Highlights Number of Managed Properties Property Management - BRPRA Managed Properties Nº GLA Athenas 1 6.718 Gloria 1 8.436 Henrique Schaumann 1 14.125 29 29 Joaquim Floriano 1 3.899 Mairynk Veiga (MV9) 1 12.511 Santo Antonio 1 5.017 São José 1 5.080 Icomap 1 9.164 Vargas 1 14.809 1Q11 1Q12 Panamerica Park 9 45.020 Ouvidor 1 6.284 Property Management Revenues CBOP - Ed. Jacarandá 1 31.954 (R$ thousand) TNU 1 27.931 BP Jundiaí 1 53.343 Cond. Indl. São José dos Campos 1 73.382 73% BP Jandira 2 34.304 BP Itapevi 1 33.526 RB 115 1 11.516 Plaza Centenário 1 3.366 1.831 Ed. Comercial Indaiatuba 1 11.335 1.059 TOTAL 29 411.720 1Q11 1Q12 BRProperties 13 1Q12
  • 14. Capital Markets Performance BRPR3 VS IBOVESPA Shareholder Base 40% BRPR3 IBOV 30% IMOB 20% 10% BTG Pactual 28,2% 0% -10% Other 56,3% W Torre -20% 8,4% -30% mai-11 jun-11 jul-11 ago-11 set-11 out-11 nov-11 dez-11 jan-12 fev-12 mar-12 abr-12 Laugar  Current number of shares: 310,307,396 GIC 1,9%  Market Value: R$ 7.3 billion 5,2%  Average Daily Vol. (30d): R$ 20.8 million * As of May 11th, 2012 Stock Performance (BRPR3) 1Q12 1Q11 var % Total Number of Shares 309.817.416 139.511.953 122,1% Free Float (%) 99% 99% 0,0% Stock Price (average for the period) 20,58 17,32 18,8% Stock Price (end of period) 23,44 17,15 36,7% Market Cap end of period (R$ million) 7.262,1 2.392,6 203,5% Average Daily Trading Volume (R$ million) 22,30 8,29 169,0% Average Daily Traded Shares 1.067.426 478.877 122,9% Average Daily negotiations 3.026 455 565,1% BRProperties 14 1Q12
  • 15. IR Contacts Investor Relations Pedro Daltro CFO & Investor Relations Officer Leonardo Fernandes Investor Relations Manager Marcos Haertel Investor Relations Analyst Phone: (55 11) 3201-1000 Email: ri@brpr.com.br www.brpr.com.br/ri BRProperties 15 1Q12