Rodobens 4Q09 Operating Preview

Contracted Sales was 121% higher than the 4Q08

Jan 19, 2010, 16:34 ET from Rodobens Negocios Imobiliarios S.A.

SAO JOSE DO RIO PRETO, Brazil, Jan. 19 /PRNewswire-FirstCall/ -- Rodobens Negocios Imobiliarios S.A. ("Rodobens", Bovespa: RDNI3) discloses selected operating results of the fourth quarter 2009 (4Q09). The results presented below are subject to review by external audit. The full audited 4Q09 earnings are scheduled to be released on March 11, 2010.

Highlights

-- Sales agreements signed in the 4Q09 amounted to R$197MM (Rodobens share only -- "Rodobens PSV"), a Company record, with growth of 30% over the past quarter (3Q09) and 121% over 4Q08, net of cancellations.

-- There were 3,274 units net of cancellations sold in 4Q09, which represent Total PSV of R$280MM, with 67% eligible for the housing program "Minha Casa Minha Vida" (MCMV).

-- Sales agreements signed in 2009 amounted to R$580MM (Rodobens PSV), a growth of 8% over 2008, with 8,271 (Total PSV: R$828MM), net of cancellations.

-- The speed of sales in 4Q09, calculated by the quarterly SOS (Sales Over Supply) method, grew to 30% (vs. 24% in the 3Q09).

-- Launches in 4Q09 reached R$187MM (Rodobens PSV), with 3,229 units, a Company record, and a growth of 48% over 4Q08. The company had a total PSV of R$256MM, with 75% eligible for MCMV Program, reaching an average price of R$79k in the quarter.

-- Launches in 2009 amounted to R$635MM (Rodobens PSV), with 9,324 units and total PSV of R$822MM.

-- By the end of 4Q09, the Company had 10 senior loan construction closed with Caixa Economica Federal ("CEF") within the MCMV, represented by 3,031 units and a total amount contracted of R$151MM.

-- Additionally, there were another 9 senior loan construction closed with Banco Santander/Real, with a total contracted amount of R$130MM, amounting to R$281MM of construction loans in both banks together.

-- Delivery of construction work totaled a launched PSV of R$680MM and 5,918 units, with Rodobens' share in the PSV as R$512MM.

SOURCE Rodobens Negocios Imobiliarios S.A.