EZ TEC Empreendimentos e Participacoes SA (BSP:EZTC3)
R$ 10.87 0.27 (2.55%) Market Cap: 2.37 Bil Enterprise Value: 2.66 Bil PE Ratio: 6.63 PB Ratio: 0.49 GF Score: 75/100
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Q2 2024 EZ TEC Empreendimentos e Participacoes SA Earnings Call (English, Portuguese) Transcript

Aug 02, 2024 / 01:00PM GMT
Release Date Price: R$13.9 (+6.51%)

Key Points

Positve
  • EZ TEC Empreendimentos e Participacoes SA (BSP:EZTC3) reported the second highest sales in its history, with significant sales success in the Villares Parada Inglesa project.
  • The company achieved a substantial increase in gross sales, more than doubling compared to the fourth quarter of 2023.
  • Contract cancellations were reported to be below 10%, indicating a healthy operational performance.
  • The company has a robust land bank valued at BRL9.3 billion, with potential to increase to BRL14 billion by the end of the year.
  • EZ TEC Empreendimentos e Participacoes SA (BSP:EZTC3) announced a dividend payment of BRL21 million, reflecting a strong financial position.
Negative
  • Gross margins have decreased from 34% to 31%, indicating pressure on profitability.
  • The volume of deliveries has been lower than in 2023, with a significant portion tied to the Minha Casa, Minha Vida segment.
  • The company is experiencing a transition from net cash to net debt due to real estate funding for construction.
  • There is uncertainty regarding the future performance of the company's inventory, despite current sales success.
  • The company faces challenges in maintaining high sales volumes and margins amidst competitive market conditions.
Pedro Lourenco
EZ TEC Empreendimentos e Participacoes SA - Investor Relations Manager

(spoken in foreign language) Good morning, ladies and gentlemen, and welcome to EZ TEC's Seond Quarter 2024 earnings calls. I have federal Lorenzo responsible for the Investor Relations department in this company. And joining us, we have Mr. Silvio Ernesto Zarzur, CEO of the company incorporation; Mr. Marcelo Ernesto Zarzur, Councellor; and Emilio Fugazza, CFO and Investor Relations Director. This event is being recorded (Operator Instructions)

On our website you can also find the presentation in our download center. This information will be presented in BRL that in accordance with BR GAAP and applicable IFRS for real estate development entities in Brazil unless otherwise noted.

Before we begin, we'd like to mention that any statements during this conference call regarding the company's business outlooks, projections, operational and financial goals are simply the company's belief and assumptions made based on the information that is currently available.

Remarks about the future are not a

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