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KPMG Mexico Private Equity Case Studies - Sources ... - BVCA admin

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Homex´s business<br />

model was<br />

changed in order<br />

to measure the<br />

company´s<br />

success in terms<br />

of houses sold<br />

instead of in terms<br />

of houses built<br />

<strong>Private</strong> equity case studies<br />

Desarrolladora Homex<br />

Ingresos<br />

millones de pesos<br />

10,000<br />

9,000<br />

8,000<br />

7,000<br />

6,000<br />

5,000<br />

4,000<br />

3,000<br />

2,000<br />

1,000<br />

0<br />

1,146<br />

Before & After the Investment<br />

Income EBITDA Employees<br />

7.70 X<br />

© [year] [legal member firm name], a [jurisdiction] [legal structure] and a member firm of the <strong>KPMG</strong> network of independent member firms affiliated with <strong>KPMG</strong> International<br />

Cooperative (‘<strong>KPMG</strong> International’), a Swiss entity. All rights reserved.<br />

8,820<br />

2000 2005<br />

Concept Impact<br />

Income 7.7 x<br />

Profitability 27.71 x<br />

Employees +9,773<br />

Utilidad<br />

millones de pesos 27.71 X<br />

1,000<br />

912<br />

900<br />

800<br />

700<br />

600<br />

500<br />

400<br />

300<br />

200<br />

100<br />

33<br />

0<br />

2000 2005<br />

Empleados<br />

14,000<br />

12,000<br />

10,000<br />

8,000<br />

6,000<br />

4,000<br />

2,000<br />

0<br />

1,905<br />

6.13 X<br />

11,678<br />

1999 2004<br />

During the period of investment,<br />

Homex´s profitability grew at an<br />

average rate of 94.33% per year.<br />

8

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