SAO JOSE DO RIO PRETO, Brazil, March 20 /PRNewswire-FirstCall/ -- Rodobens Negocios Imobiliarios S.A. ("Rodobens", "RNI", Bovespa: RDNI3) announces that it has already launched R$191 million (Rodobens' share only) of new potential sales value (PSV) in 2008, or 30% of the current target of R$631 million announced for the full year 2008. The total PSV launched (including the stakes of partners in the projects) is R$236 million.
Cash optimization through delivery of homes in 12 months after launching
Eighty-five per cent (85%) of the $191 million launched are represented by condominiums of Terra Nova homes, with average delivery in 12 months after launching. This shortened delivery time results in a cash cycle much shorter than the typical average cycle of the residential real estate industry in Brazil. The shorter cash cycle, in turn, results in a potential higher return over the capital invested in the project.
Rodobens has as its financial strategy to sell or to securitize its performed receivables to banks that are members of the SBPE (Brazilian System of Savings and Loans).
For more information:
Investor Relations Media Relations
E-mail: ri-rni@rodobens.com.br MCE, Ms. Rita Mazzuchini
Tel.: 55-17-2137-1754/3/2 E-mail: ritamce@terra.com.br
http://www.rodobens-rni.com.br/ir Tel.: 55-11-2577-6533
Profile - Rodobens Negocios Imobiliarios is a real estate developer with more than 16 years of experience. The company's focus is cities with more than 150,000 inhabitants in the interior of Brazil. Since its foundation in 1991, the company launched 69 residential projects in 22 different cities of seven Brazilian states (SP, MG, RJ, PR, RS, CE, MT). The projects launched total 16,640 units and 1,761,751 square meters of built area. Its main products are Sistema Facil, Terra Nova and Plano Unico. On January 31, 2007, Rodobens Negocios Imobiliarios listed its shares on the Novo Mercado of the Sao Paulo Stock Exchange under ticker symbol RDNI3. For more information, please visit our website at http://www.rodobens-rni.com/ir .
Rodobens Negocios Imobiliarios is part of Empresas Rodobens, founded in 1949 and one of Brazil's 100 largest business conglomerates. With a strong presence in the vehicle and real estate businesses, the group comprises auto dealerships, truck and bus dealerships, consortium, insurance brokerage, auto and truck rental, banking, e-commerce, real estate development, international businesses, and corporate satellite TV.
Rodobens Negocios Imobiliarios S.A.
