Construtora Tenda S.A. reported earnings results for the first quarter ended March 2018. For the period, the company reported net revenue was BRL 366.1 million, operational profit was BRL 39.8 million, net income before taxes on income was BRL 43.0 million, net income after taxes on income was BRL 36.4 million, net income was BRL 36.3 million against net revenue was BRL 324.7 million, operational profit was BRL 23.0 million, net income before taxes on income was BRL 22.4 million, net income after taxes on income was BRL 17.8 million, net income was BRL 18.9 million a year ago. Net cash used in operating activities was BRL 56.6 million against BRL 33.5 million a year ago. Adjusted EBITDA of BRL 58 million, up 83.5% from first quarter of 2017. ROE is 10.9% against 6.5% a year ago. Cash ended the quarter at BRL 660 million, which subtracted from gross debt, resulted in a negative net debt of BRL 283 million, representing a negative net debt to shareholder's equity ratio of 23.4%. Purchase of property and equipment was BRL 32. million against BRL 7.3 million a year ago.

For the fiscal 2018, aiming at reconciling information and improving predictability to the market regarding its figures, the company opted to disclose guidance based on specific scenarios with defined variables and assumptions, reaching the following projections for 2018: Concerning the adjusted gross margin, which is the ratio between gross profit for the year, consolidated and deducted by capitalized financial charges stated in Note 12 to the financial statements and consolidated net revenue for the year, a range is estimated between a minimum of 33% and a maximum of 35%. Concerning the company's net pre-sales, defined as the result from gross sales, for the year in BRL million, less cancellations, for the year in BRL million, adjusting all the amounts to Tenda's equity interest, the company estimated a range between BRL 1,650 million and BRL 1,850 million.