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GAFISA S.A.
CNPJ/MF n° 01.545.826/0001-07
NIRE 35.300.147.952
A Publicly Listed Company
MATERIAL INFORMATION RELEASE
GAFISA S.A. (Bovespa, GFSA3; NYSE, GFA) (“Gafisa” or “Company”), in accordance with CVM Instruction No. 358/02, informs its shareholders and the market the guidances for 2013.
The new guidance for 2013 launches will be in the range of R$2.7 to R$3.3 billion, reflecting the regional focus for Gafisa and strategic markets for Tenda, of which Gafisa should represent 42% of launches and Alphavile 46%, while Tenda should account for 12% of launches in the year.
Given the focus for cash generation in 2012, Gafisa enters 2013 with a comfortable liquidity position and capital structure, having restructured debt and diversified funding sources and cash facilities. As of December 31, 2012, the relation of net debt and investor obligations to equity ratio was 95%. The Company expects this level of leverage to be stable in 2013, as compared to the current level by the end of 2012.
The Company presents as guidance for adjusted EBITDA margin the range of 12% - 14% in 2013.
The Gafisa Group plans to deliver between 13,500 and 17,500 units in 2013, of which 27% will be delivered by Gafisa, 46% by Tenda and the remaining 27% by Alphaville.
Considering the aforementioned information, the perspectives and amounts presented, the guidance for 2013 is as follows:
|
Launches |
Guidance (2013) |
|
Consolidated Launches |
R$2.7 – R$3.3 bi |
|
Breakdown by Brand |
|
|
# Launches Gafisa |
R$1.15 – R$1.35bi |
|
# Launches Alphaville |
R$1.30 – R$1.50bi |
|
# Launches Tenda |
R$250 – R$450mn |
|
Leverage |
Guidance (2013) |
|
Consolidated |
Stable (95%) |
|
Adjusted EBITDA Margin(1) |
Guidance (2013) |
|
Consolidated |
12%-14% |
|
Delivery of Units |
Guidance (2013) |
|
Consolidated Amount |
13,500 – 17,500 |
|
Breakdown by Brand |
|
|
# Gafisa Delivery |
3,500 – 5,000 |
|
# Alphaville Delivery |
3,500 – 5,000 |
|
# Tenda Delivery |
6,500 – 7,500 |
(1) Adjusted EBITDA margin: EBITDA Earnings before interest, tax, depreciation and amortization. EBITDA Adjusted for expenses on stock option plans (non-cash), capitalized interest and minority shareholders
It should also be pointed out that all the abovementioned premises are subject to change and involve risks and uncertainty that is beyond the Company’s control. Any changes in perception, or in the abovementioned circumstances, could mean that the results obtained differ materially from the forecasts (guidance). In that case, the guidance could be submitted to review.
SIGNATURE
|
Gafisa S.A. | |
|
By: |
/s/ Alceu Duílio Calciolari |
|
Name: Alceu Duílio Calciolari
Title: Chief Executive Officer | |