Direcional Engenharia S.A. Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2019
October 30, 2019
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Direcional Engenharia S.A. announced consolidated earnings results for the third quarter and nine months ended September 30, 2019. For the third quarter, the company announced operating net revenue was BRL 367,239,000 compared to BRL 309,919,000 a year ago. Operating loss was BRL 74,869,000 compared to BRL 161,066,000 a year ago. Net income was BRL 25,951,000 compared to net loss of BRL 83,821,000 a year ago.
For the nine months, the company announced operating revenue was BRL 1,090,543,000 compared to BRL 772,977,000 a year ago. Operating loss was BRL 217,694,000 compared to BRL 268,546,000 a year ago. Net income was BRL 72,263,000 compared to net loss of BRL 95,692,000 a year ago.
Direcional Engenharia SA is a Brazil-based company engaged in the residential real estate sector. The Company focuses on development and construction of residential housing projects, targeting the low-income segment. It mainly builds multifamily homes that form a residential district. The Company develops its activities through special partnerships (SCPs) and special purpose entities (SPEs), which are active exclusively in the real estate sector. It operates in the states of Rio de Janeiro, Sao Paulo, Rio Grande do Sul, Minas Gerais, Para and Amazonas, among others, Brazil. The Company owns numerous subsidiaries, such as Direcional Taguatinga Engenharia Ltda, Ametista Empreendimentos Imobiliarios Ltda and Malaquita Empreendimentos Imobiliarios Ltda.
DIRECIONAL ENGENHARIA S.A. 
