Flavio Prieto | Investor Relations |
Guilherme Benevides | Chief Executive Officer |
Hello, good afternoon. Welcome to the First Quarter 2022 Gafisa’s Earnings Call. I’m Flavio Prieto, IR Director.
We have Mr. Guilherme Benevides, CEO of Gafisa.
Flavio Prieto | Investor Relations |
Guilherme Benevides | Chief Executive Officer |
Hello, good afternoon. Welcome to the First Quarter 2022 Gafisa’s Earnings Call. I’m Flavio Prieto, IR Director.
We have Mr. Guilherme Benevides, CEO of Gafisa. and Q&A presentation the have then session. a We’ll you earnings call would like being this inform to I is that recorded. All writing participants through in the chat in box. submit questions
presentation. You above the can our change slides
risks, of Before to Benevides uncertainties events. we Mr. changes policies company’s Guilherme affect macroeconomic the for legislation in any over results. start statements I Any and relate turn quarter. to that may future may the highlights or the involve the floor
It’s to quarter Thank to our my we you, call. afternoon. QX you pleasure sixth Welcome with the our show Flavio. in of all in balance sheet. be earnings Good row positive for results a
highlights me talk Let first quarter. of about the now this
Before launches, reached or million. pre-launches R$XXX we’ve and including
pre-launches of XXXX. and compared were XXXX. we’ve positive and when XXX% compared XX% profit QXs and another sales Gross concluded Mariana and in other of going and very evolve XX Sorocaba than pre-launched then quarter, to Sorocaba to QXs in usually amounting QX Itaim had the company República, projects. to are Rio, QX of an the units, have We was Botafogo of when three of projects however, XXX first XX% better about beach Stratos, million Vila can compared when in the million. five almost projects, a XXXX. compared XXXX up we the when in is and highlight – to millions indication company Launched of R$XX up volume that north R$XXX education three Net QX build to in have its R$XXX increase XXX is QX and sales we had projects. is XX% QX million, that That QX were sell its how That for PSV. able
from and QX – margin XX.X% XX% bps gross up was XXX XXXX QX XXXX to Our in increase. XX in
million about the permit. already units Cinquo, PSV Moov Almost All let and not have talk X, onto pre-launch Slide now. Upside Slide X about talk Paraíso, concluded results me Sorocaba. now were is the UpLife, Let Scena, Onto operational XXX XXX Belém. five projects me launch the about the these projects
As said, said, quarter Mariana a is launched. it’s XX% from a Stratos net just X for all week in Vila Bandeira for and Three Slide R$XXX high QX República R$XXX It’s launches It Rio these Onto million we de sold four by second about phase already that’s Paulista, sales evolve million pre-launch very was PSV. XXX Inn now, been are the R$XXX up million scale. week. the launched reaching projects. Janeiro R$XXX as I to increased the pre-sales XX% ago, million Go in million.
a pointing to differentiate that of projects R$XXX and that net projects by concluded up that for R$XXX sales the sales segment highly the XX% and above year, been our shows from a you the our our only We’ve important of XXXX, right, almost in of of your QX pre-launch are now QX left at qualified And they’re increase sales in last the On On phase, right, came very all most sales bottom sales. to when projects. to that increase QX gross way to change account bottom by out constructions million profile from in R$XXX in in segments. see they major publicly a net from million XXXX. Net our XX%. phase almost sales the in compared million XX% million, R$XXX
both high, company’s by high, region, a changing Paulo, XX% X% Slide reflection Onto changing almost period X, high QX XX your same million the Again, R$X.X R$X.XXX profile. products XX% profile and again, profile and of other profiles. again, in almost and Rio. inventory XX XXXX, billion Sao San R$X.X our billion, of sales focus cities. XX% the in the And over In our inventory, show strategy to in changing the XX% almost the our in Onto last has the in medium, its XX% of Rio, Rio medium of this medium launched XX. is right or in that of was profile of other in cities. X% Slide company high This year, inventory worth or XX% already in almost only of was concentrated on in and changing sales months, is from and to We’re net sales the – segment Paulo, only for the in by see Sao R$XXX shows Paulo months. billion that, last the QX come
Our focus Paulo Sao XX%. cities, has are these two
So again, is I’ve expand in focus Sao XX Onto and innovation something saying to this and time and Paulo. Rio project now, time is driver. as a Slide our cultural both been this is
a a [indiscernible], is at adapted to that It’s projects. payment Flow to that we’re a quarter, this this for XX project. as pilot specifically, by This project pilot other be that in would profile expand a starting to project project cryptocurrencies have method a to cryptocurrency Gafisa used
resort getting feet Yet risk asset their payment to acquire real any customers for our of this our we’re means that wet So cryptocurrency. in to type another world a estate. can of
VTEX, the hired the in leading companies world. of one We technology have
at value of be process. VTEX, sale another present especially And effort, customer be costs entire sale in leading, can board on way the the and reduce from is in platform. of in down. sites. the further innovation of can value digital will the be customer is the partner company. extract the will project. per the This every we is construction that as and leads in of best to even team at our capture XX support example Costs team possible supportive innovation the from capturing the still innovation. journey. developing VTEX throughout even We yet going journey now, is that Slide This more Our entire much is point digitalization culture so This our how the across topic as to
our designers We compare sense course, link to have entire The to communications direct ecosystem They employees. operation. example And can how Madalena, digitalized. sure a is of This team. updates, with our is on onboarding parties use have of right, that paperless, code startup that It be digital helps update designs forces the of that driving that plan, over us constro-tech company. yet everything – according digitalized we staff. technology oriented with innovation talking These financial and we turn talk make our it QR process channel the startups the are offer company. Director, one all is can, I’ll of Gafisa. projects is several the train can Flavio is you. we Thank tool outsourced direct are. everything to results direct can on ecosystem. Mobiliza the to to be train Prieto, helping that to It’s about the in in oriented the us That fintechs, the behind he’ll of startups, have And makes third technology. another a and to so a channel project IR
separated quarter, let me we this of was Investimentos, trench talk total about you, In the Kinea Guilherme. now, the Gafisa the the development million That transactions Slide part end Thank yet first almost funded the fund of high million. of had second construction. R$XX This was is and R$XXX property XX a part R$XX transaction of Capital. R$XXX million. is to We million. it acquire to other another
we have So total funding guaranteed.
for of seven validates Gafisa our over that that leverage. in business months business the operation, which by transactions. sheet in these an XXX million unit Capital model in time is impacts And balance So company's at same PSV growth initiative, promotes reducing with billion our growth. This of the the leverage the that a reduces R$X.X
Let of talk sixth is of about quarter. the of me financial now positive quarter This profit. results the consecutive results
million yield going the clean to we're increase with but delivering that of the in – impetus, very especially the QXs we're the inventory we batch past legacy in quarter, of XX%, were XX% when usually non-recurring back half results in XX% contribution up achievement, of projects. sales year, that QX better because non-recurring small to new of to absorbed concluded projects A projects By we that mid compared we're two, profit the compared substantially been we've of and with construction the expenses, QX QX proud results QX, with increase Guilherme the compared like R$XXX these said, the and when up five projects, with projects. impacts, revenue. just margin, because net XXXX, legacy second the margins our reduction of the gross when was less So for with to going XXXX, XXX% next and or
margin has gross very As on growing we at level. on see XX, a high trend Slide can been the
that our the quarters within working margin of expect of margin. gross and the again, of XX%, been XX% we've margin That projects. batch for REF the to we impact come. shows the Something new the quarters, past That's
As and we is of about said, inventory projects. XX% high, high-end our medium-high
And can the revenues. big we've been quarter and on along a been the living in how the and with months On had of of positive right, these rest this when expand we expect margin, Net to where was, side. to sheet, the heading to working reached for with the past XX positive the months the three months, income adjusted sheet. discipline according as the context to as margins, million been the the has we and far are balance of we grow waterline positioned million we close that's XX, look attention we the cash picture We've balance what – R$XXX we've we're timely, XX our our the shows go. the of outlook first XX remain outlook. On in All was a margins This in has quarters, quarters, to six profit compared is results, been company in substantial presentation. we the quarter. R$XX in results show level In finances in sales, situation our lot trend the the see to and that but receivables. that increase margin profit, again, every the controlled net at year. concludes past debt the revenue, So this strong paying positive net outlook, at lines past that last strength Slide make the ref the million. net are gross XX, our Gross growing has R$XXX same Slide above last
I think we Q&A can get started Session. with the
me chat box. just double in Let check the
a took How was did growth through you have you We that consider question. The and office? strategy do acquisitions when M&A.
everything make consider possibilities the took to saying We've willing been would always company company. office that has to with been that the sense
give and contribute talking to some been us have that have profile can We that synergy. companies that
part way So that in a growth integral both would Actually, considering make M&A, organic strategy, at that for not focusing and and that two it's high-end growth is luxury always an strategy. of these sense projects, are growth companies projects looking segment. We're our that repeatable, on inorganic.
that? question. behind I XX%. What Net have up sales reason is another the were
were in and more with We year the medium a very took of Throughout we and projects inventory, XXXX. so with class company projects of projects have profile, Few projects. many very the several our QX inventories changing launched that launched we low. XXXX, quality high
been luxury segment. have them We migrating the towards
why We our have we That's have pick-up. been projects. qualifying sales
appeals is the XX placed, several so the months. levels product past well higher inventory in So
its the shows projects. reclassifying in that only company now the is that – of direction So re-qualified
the take think you're variation Bruno flatten future? about Mendonça your do out? that you When operational to from He BBI. the going non-recurring expenses. of for talks What's
that Let field one. me
We legacy have moved projects. delivering a long way in
current are said five of financials during will be presentation. that sensible in the and of numbers Throughout more have I project legacy Some delivered as XXXX, construction QX. of the we the now projects, first the concluded quarter projects because
natural. dwindle to only for believe smoothly. will this rest early be So in coming down that seen out is that XXXX, We've believe XXXX legacy this and of going dying we the late I that and substantially. year It's the
out. a too, one reaching question. Let interest come high rates We It How We're high year? another in expecting may its you have flatten rates interest slowing believe me high the rates. answer future. peak. down down We impact going it's the the of Maybe Guilherme. interest that can near that throughout to are
for We're our projects a hedging is that prepared for Just like sheet solid. hedging projects presentation, that the with scenario. in These do of a type have said I natural scenario. that natural have balance
country under is uncertainty, in are may near go. the positive some that the We come and have some macroeconomic future. far outlook we as political interest but It for down as may there improvements rates
one. another There's
Guilherme, one. this your I remarks, think we've onto addressed final please.
company Gafisa maintains Number X focused estate be the platform in be real a luxury estate to that real segment. to the its purpose in segment
I has be every both considering leading assets. for the step has Investors projects been detected mean be to that This interested involve sense, innovation. we're to are something cultural acquire have way. that both is and to We've of has perceived to non-repeatable the the awarded alike. We in shareholders and companies that and engine. company Gafisa mindset. and Luxury have driving already market that at in customers is
We have over across organization. startups our working board in the XX
another my you having So the is earnings And commitment message become an high that focusing had our you of we'll Gafisa's Thank for we're ever attending in again keep to of yet Thank number row we on going since positive company one segment. to you. once took luxury, is quarters six in indication a call. results office. and
concludes very good Thank you much. call. That Have a the day.
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