2. Forward-looking statements
This presentation does not constitute or form part of any offer, or invitation or solicitation of any offer to purchase,
sell or subscribe for shares or other securities of the Company, nor shall this presentation or any information
contained herein form the basis of, or act as inducement to enter into, any contract or commitment whatsoever.
This presentation contains financial and other information related to the business operations of Lopes –LPS Brasil
Consultoria de Imóveis S.A and its subsidiaries (“LPS” or the “Company”) as of and for the period ended June
30th 2012. It should not be considered as a recommendation for prospective investors to sell, purchase or
subscribe for securities of the Company. The information presented herein is in summary form and does not
purport to be complete. No reliance should be placed on the accuracy completeness of the information
contained herein, and no representation or warranty, express or implied, is given on behalf of the Company or
its subsidiaries as to the accuracy completeness of the information presented herein.
This presentation contains forward-looking statements. Investors are advised that whilst the Company believes
they are based on reasonable assumptions by Management, forward-looking statements rely on current
expectations and projections about future events and financial trends, and are not a guarantee of future results.
Forward-looking statements are subject to risks and uncertainties that affect or may affect business conditions
and results of operations, which therefore could materially differ from those anticipated in forward-looking
statements due to several factors, including competitive pressures, Brazilian macroeconomic conditions,
performance of the industry, changes in market conditions, and other factors expressed or implied in these
forward-looking statements or disclosed by the Company elsewhere, factors currently deemed immaterial.
The forward-looking statements contained herein speak only as of the date they are made and neither
Management, nor the Company or its subsidiaries undertake any obligation to release publicly any revision to
these forward-looking statements after the date of this presentation or to reflect the occurrence of unanticipated
events.
2
3. Schedule
I. Highlights
II. Operational Results
III. Credipronto!
IV. Financial Results
3
5. Highlights
Total value of real estate transactions closed of R$ 4.9 billion, of which R$3.7
billion in primary market and R$ 1.2 in secondary market;
Historical record of R$ 1.2 billion in transactions closed in the secondary market,
achieving 25% of our total transactions closed;
Net Revenue of R$109.2 million;
Ebitda reached R$ 42.3 million with margin of 39%;
Net Income Attributable to Controlling Shareholders before IFRS of 28.4 million
with margin of 26%. Growth of 12% versus 2Q11(ex-Earn Out);
Net Income Attributable to Controlling Shareholders after IFRS of 38.4 million with
margin of 35%. Growth of 50% versus 2Q11(ex-Earn Out);
15% in CrediPronto! origination from 2Q11, with R$378 million in mortgage loans
in 2Q12;
Conclude the 4th acquisition of the year in July/12, LPS Raul Fulgêncio the
market leader of Londrina city. The most relevant acquisition since Patrimóvel.
5
7. Transactions Closed
Transactions Closed Number of Transactions Closed
(R$ thousand) (R$ thousand)
-1% -12%
17,125
4,957 4,902
2,293 15,072
1,085 1,236 2,574
14,832
3,872 3,666 12,498
2Q11 2Q12 2Q11 2Q12
Secondary Market Primary Market
The Transactions Closed in 2Q12 maintained the same level of the same period the year
before, despite of the retraction of 19% in sales of listed homebuilders¹ in the primary market
7
¹ Value based on the previous Listed Homebuilders - does not include Viver, JHSF, CR2 and CCDI.
9. Transactions Closed by Income Segment – Primary and Secondary Markets
Transactions Closed
R$ 4,957 million R$ 4,902 million
2Q11 2Q12
10% 8%
32%
37%
31%
35%
23%
24%
Units
17,125 units 15,072 units
2Q11 2Q12
8% 9%
15% 34% 15%
41%
35%
43%
<150 150-350 350-600 >600 9
10. Transactions Closed by Region – Primary and Secondary Market
Transactions Closed
2Q11 2Q12
5% 6%
4%
5%
12%
12%
8% 47%
50%
5%
24% 21%
São Paulo Brasília Nordeste
Rio de janeiro Sul Outros
10
12. Evolution of Launches – Listed Homebuilders and Lopes
Evolution of Launches 1Q12
-37%
8,706
-22%
7,171
5,491 5,601
1Q11 1Q12* 1Q11 1Q12
Listed Homebuilders
* Value based on the previous Listed Homebuilders - does not include Viver, JHSF, CR2 and CCDI.
15. CrediPronto!
2Q12
R$378MM in Average LTV of Average Rate Average Period
1,243 Contracts
Mortgages 58,02% of 9,91% + TR of 302 months
15
16. CrediPronto!
Financed Volume Accumulated Volume Sold*
(R$ MM) (R$ MM)
+15% +107%
378 2,775
328
1,341
2Q11 2Q12 2Q11 2Q12
In the second quarter of 2012, the CrediPronto! financed R $ 378 million, up 15% compared to
2Q11.
16
*It doesn’t include amortization.
17. CrediPronto!
Mortgages Portfolio
(R$ MM)
+14%
2,266
1,989
Starting Portfolio Ending Portfolio
Balance Balance
The Average Portfolio Balance in 2Q12 was R$2.1 billion.
17
18. CrediPronto!
Accumulated Sales Volume *
(R$ MM)
2,775
2,397
2,153
1,956
1,698
1,461
1,219
1,013
854
727
591
385 474
217 291
jan/10
mar/10
apr/10
aug/10
nov/10
jan/11
mar/11
apr/11
aug/11
nov/11
jan/12
mar/12
apr/12
feb/10
may/10
jun/10
jul/10
sep/10
oct/10
dec/10
feb/11
may/11
jun/11
jul/11
sep/11
oct/11
dec/11
feb/12
may/12
jun/12
The CrediPronto! exceeded the $ 2.7 billion in financing since the beginning of the
operation.
*Not including amortization.
18
21. Gross and Net Revenue
Gross Revenue Net Revenue
(R$ MM)
(R$ MM)
138.0 126.7
Earn out Itaú 15.6 Earn Out Itaú 15.6
+2% -2%
122.3 125.1 111.1 109.2
2Q11 2Q12 2Q11 2Q12
This quarter we have achieved R$ 109.2 million in net revenue.
21
22. Gross Revenue Reconciliation
2Q12 - Gross Revenue Reconciliation (R$ Million)
Contracted Sales (a) 4,902
Net Comission (b) 2.37%
Gross Brokerage
116.2
Revenue (a) x (b)
Revenue to Accrue from Itaú
3.6
Operations
Other revenues 5.4
Gross Revenue 125.2
IMPORTANT CRITERIA FOR CONTRACTED SALES
The contracted sales released in the quarter is exclusively based on the invoiced sales,
which multiplied by the net commission result in the gross revenue of the quarter.
Thus, the R$4.9 billion in contracted sales in the 2Q12 meets all the criteria for accounting
the Company’s gross revenue, even including the contract approval by the homebuilder.
Additional sales generated during this same period, that do not meet all the accounting
criteria were not considered as contracted sales of the period.
22
23. Results 2Q12
Results 2Q12 Before IFRS
(R$ thousand)
LAUNCHES PRONTO! CREDIPRONTO! CONSOLIDATED
Gross Service Revenue 90,211 28,965 5,974 125,150
Revenue from Real Estate Brokerage 86,586 28,965 5,974 121,525
Revenue to Accrue from Itaú Operations 3,625 - - 3,625
Earn Out - - - -
Net Operating Revenue 78,959 25,352 4,879 109,191
(-)Costs and Expenses (32,380) (14,377) (4,765) (51,523)
(-)Holding (11,152) (3,758) - (14,910)
(-) Stock Option Expenses CPC10 (235) - - (235)
(-) Expenses to Accrue from Itaú (238) - - (238)
(=)EBITDA 34,954 7,217 114 42,285
EBITDA Margin 44.3% 28.5% 2.3% 38.7%
(+/-) Other nonrecurring results - - - -
(-)Depreciation and amortization (3,278) (773) (14) (4,065)
(+/-) Financial Result 4,489 216 24 4,729
(-)Income tax and social contribution (7,737) 354 (93) (7,476)
(=)Net income before IFRS* 28,428 7,013 32 35,473
Net Margin before IFRS 36.0% 27.7% 0.7% 32.5%
(=)Net income after IFRS 40,902 959 32 41,893
Net Operating Margin 51.8% 3.8% 0.7% 38.4%
(-) Non-controlling Shareholders (3,453)
(=) Net Income Attributable to Controlling Shareholders After IFRS 38,440
Net Margin Controlling Shareholders 35.2%
*We co nsider the net inco me ajusted by no n cash IFRS 3 effects (B usiness Co mbinatio n) the best net inco me indicato r
23
24. Net Income 2Q12 by segment
Net Income from launches 2Q12 (R$Thousand)
52%
199
36%
23,530
4,808
40,902 6,447
28,428
Launches Net Earnout impact Non-cash Taxes over Amortization of Launches Net
Income After IFRS call/put effect intangible assets intangible assets Income Before IFRS
Net Income from Pronto! (R$ R$Thousand)
28%
4,877
7,013
0
4% 1,026
151
959
Pronto! Net Earnout Impact Non-cash Taxes over Amortization of Pronto! Net
Income after IFRS call/put effect intangible assets intangible assets Income Before IFRS
24
28. Results 2Q12 – Pronto! Before IFRS
Pronto! Pronto!
EBITDA & Margin Net Income & Margin before IFRS
(R$ Thousand) (R$ Thousand)
+12% +62%
7.217 7.013
6.445
4.318
26,2% 28,5% 27,7%
17,6%
2Q11 2Q12 2Q11 2Q12
28
29. Operational Expenses
Evolution of Operational Expenses*
(R$ MM)
-1%
67.5 66.9
3.7 4.8
63.8 62.1
2Q11 2Q12
CrediPronto!
Launches + Secondary (Pronto!)
29
* Does not consider IFRS
30. EBITDA
EBITDA*
Margin EBITDA¹(%)
(R$ MM)
59.2
Earn Out Itaú 15.1
-4%
44.1 42.3
(39.7%) (38.7%)
2Q11 2Q12
* We consider the EBITDA, excluding other operating expenses (revenues), that considers IFRS non-cash, as the company
performance indicator 30
¹ The 2Q11 margin does not consider Itaú Earn Out net of taxes.
31. IFRS Impacts – Net Income before non-controlling shareholders
Before
Description IFRS Effects* After IFRS
IFRS
Net Operating Revenue 109,191 109,191
Costs and Expenses -66,906 0 -66,906
Depreciation and Amortization -4,065 -9,685 -13,750 (1)
Finance Result 4,729 22,552 27,281 (2)
Operational Profit 42,948 12867 55,815 (1)+(2)
Income tax and social contribution -7,476 -6447 -13,923 (3)
Net Income 35,473 6420 41,893 (1)+(2)+(3)
* IFRS 3 non cash effects (business combination)
(1) Amortization of Intangible Assets
(2) Combined effects: i) Gains and losses with net non-cash effects of call and put options from
controlled companies, based on the fair value according to future estimates and ii) non-cash impacts
from payable earnouts
(3) Deferred Income Tax over effects of call and put on LPS Brasil.
31
32. Net Income Attributable to Controlling Shareholders
Net Income Attributable to Controlling Net Income Attributable to Controlling
Shareholders (shareholders of LPB3) Shareholders before IFRS * (shareholders of LPB3)
Net Margin¹ Net Margin¹
(R$ Million) (R$ Million)
39.7 39.4
Earn out Itaú 14.1 Earn out Itaú 14.1
+50%
+12%
38.4
(35%)
28.4
25.6 25.3 (26%)
(23%) (23%)
2Q11 2Q12 2Q11 2Q12
¹ The 2Q11 margin does not consider Itaú Earn Out net of taxes. 32
*We consider the net income ajusted by non cash IFRS 3 effects (Business Combination) the best net income indicator
33. Acquisition
Raul Fulgencio Negócios Imobiliários Fachada
• Location: Londrina (PR)
• Date of acquisition: July 05, 12
• LPS Brasil’s stake: 51%
• Investment: R$ 36.7 million
Strategy Operates in the primary and secondary
markets and real estate management since
• Verticalization rate of 20.5%. Equivalent to Curitiba city,
with 26.5% and higher than the average of Paraná State, 1997
with 9.0%
Leadership in the market in Londrina:
• Population of 507 thousand: 13% with household
income over R$ 6 thousand/monthly (potential
customers to acquire properties above R$ 250 thousand)
• +50% of share in the primary market
• Credipronto! holds exclusivity for all mortgages loan • Total value of real estate transactions
nearly R$ 100 million/p.y. in the
Raul Fulgêncio’s forecast1 secondary market
Total value of real estate transactions1 (R$ MM)
• 90% of primary market sales coming
500 545 589 from non listed homebuilders
2012(e) 2013(e) 2014(e) 33
Source: LPS Brasil. 1) Projected values
