Direcional Engenharia S A : 1Q23 Earnings Presentation

1Q23 Earnings Presentation

May 9th, 2023

Highlights

1Q23 Highlights - Sales & Gross Margin

• Sales: Best 1st quarter in Net Sales in Direcional's history

R$ million

3,180

2,547

	+29%
	694	803
622	+16%

+25%

• Resilient gross margin

R$ million

36%	38%	36%	37%	36%	35%	35%	36%	36%

Adjusted Gross Profit¹

Adjusted Gross Margin¹

			179	207	201	194	202
			168
	160	163
149

1Q22

4Q22

1Q23

1Q22 LQM 1Q23 LQM

1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23

1 - Adjustment excluding interest capitalized in the Costs line

1Q23 Highlights - Expenses Dilution

• G&A Track Record

BRL million and %

7.2%	7.1%	7.3%			-30bps
7.0%	6.7%

5.0%	5.1%	4.6%	4.8%	4.4%

+15%

									158
									137
					+19%	+4%
35	40	42
		1Q22	4Q22	1Q23	1Q22 LQM 1Q23 LQM
				% Gross Revenue			% Gross Revenue
				% Gross Sales

• Sales Expenses Track Record

BRL million and %			-140bps
9.4%	9.5%		10.2%
	8.8%
		7.8%
6.3%	6.7%		6.7%
		5.7%
		4.8%

193 202

-3%

-18%

45 53 43

1T22

4Q22

1Q23

1Q22 LQM 1Q23 LQM

Sales Expenses

% Gross Revenue

% Gross Revenue from Real Estate Sales

+4%

Minority Interest Dilution

Adjusted Net Income before Minority Interest¹

BRL million and %

11.6%	13.0%	15.0%	12.7%	13.3%
				+29%
				61
			59
	+54%			240
		14	174
	16	+31%
19
53	70
36
1Q22	4Q22	1Q23	1Q22 LQM 1Q23 LQM

Minority Interest

Adjusted Net Income¹

Adjusted Net Margin before Minority Interest¹

Minority Interest¹

BRL million and %

	-160bps		-50bps
4.0%	3.0%	2.4%	3.2%	2.7%
			+3%
			59	61
	-27%
			-16%
19	16	14
1Q22	4Q22	1Q23	1Q22 LTM	1Q23 LTM

Minority Interest¹		% Net Revenue

1 - Adjustment excluding expenses with sale of receivables, equity swap results and non-recurring results under "Other Operational Revenues and Expenses" (occurred in 4Q22).