Q2 2024 LPS Brasil Consultoria de Imoveis SA Earnings Call Transcript
Key Points
- LPS Brasil - Consultoria de Imoveis SA (BSP:LPSB3) achieved the second highest EBITDA margin in the last 10 years, reaching nearly 40%.
- The company reported a 20% increase in brokered total transactions, totaling BRL3.5 billion compared to the same period last year.
- CrediPronto, a segment of the company, saw a 9% increase in contract origination, totaling BRL852 million.
- Recurring expenses fell by 8% compared to the same period last year, contributing to improved financial efficiency.
- The company experienced a significant increase in organic visits to its portal, reaching 11 million in the last 12 months, a 21% increase from the previous year.
- The approval of new real estate projects in São Paulo has slowed, resulting in a lower volume of launches in the quarter.
- Rede Lopes launches were 7% lower than the same period last year, indicating a decline in new project initiations.
- Net revenue from CrediPronto decreased by 8%, attributed to previous credit restrictions and funding challenges.
- The company's cash and cash equivalents saw a 28% negative variation compared to the first quarter of 2024.
- Franchise expenses increased by 56%, reflecting higher costs associated with expanding and enhancing franchise profitability.
Thank you, ladies and gentlemen, good afternoon and thank you for holding. Welcome to the conference call of LPS Brasil in which we'll present the results for the second quarter 2024. This event is being recorded and all participants will be listening to the webinar only during the presentation of LPS Brasil. (Operator Instructions)
For those who wish to follow the webinar in English, it's possible to listen to the simultaneous translation clicking on the button that's also identified below. The presentation link in English is available in the chat.
Before proceeding, we would like to clarify that any statements that may be made during this webinar regarding the business prospects of LPS projections, operating, and financial goals, constitute beliefs and assumptions of the company's management.
Forward-looking statements are not a guarantee of performance and involve risks, uncertainties and assumptions, as they refer to future events and therefore depend on circumstances that may or may not occur.
Investors and analysts should understand that general conditions,
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