EZ Tec Sees 2013 Sales Little Changed From 2012, CFO Says
EZ Tec Empreendimentos & Participacoes SA (EZTC3) expects sales in 2013 to be little changed from 2012, Chief Financial Officer Antonio Emilio Fugazza said .
The sale of one of two office towers being built in Sao Paulo to Sao Carlos Empreendimentos & Participacoes SA (SCAR3) for 564 million reais ($276 million) is a “bonus” for the company’s revenues this year, Fugazza said in a phone interview today from Mexico City, where he is meeting investors.
“That amount is going to positively impact EZ Tec’s revenues from the first quarter of 2013 through the last quarter of 2014, when the project will be completed,” the CFO said.
EZ Tec’s adjusted sales grew 13 percent to 598.8 million reais in the first three quarters of 2012 from the same period of 2011, data compiled by Bloomberg show.
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