Earnings Release 4Q22/2022
This report contains expected projections which are subject to risks and uncertainties.
These projections are based on expectations and assumptions of our Management, our Board members, taking into account information to which the Company currently has access. The exceptions relating to forward-looking statements also include information about potential or supposed operating results, as well as statements preceded, followed by or including the words, "believes", "may", "will", "continues", "expects", "foresees", "intends", "plans", "estimates" or similar expressions. Forward-looking statements and information are not guarantee of performance. These involve risks, uncertainties, and assumptions, as these refer to future events, therefore, subject to circumstances that may occur or not, future results, and the value creation for shareholders may significantly differ from those expressed or suggested by the forward-looking statements. Most of the factors which will determine these results and amounts go beyond our capacity of control or estimate.
São Paulo, March 28, 2023 - Gafisa S.A. (B3: GFSA3), one of Brazil's leading high-income developers, announces today its results for the fourth quarter and year 2022, ended December 31, 2022. Gafisa's operational and financial information, unless otherwise indicated, are stated based on consolidated figures and in thousands of Brazilian Reais (R$), drawn up according to the accounting practices adopted in Brazil ("BR GAAP") and the International Financial Reporting Standards (IFRS) applicable to real estate developers in Brazil, as approved by the Brazilian Accounting Pronouncements Committee (CPC), the Brazilian Securities and Exchange Commission (CVM) and the Brazilian Federal Accounting Council (CFC).
Focused on the high-end segment, Gafisa outpaces R$1 billion in sales, its best business performance over the past five years, and ended 2022 with a solid operational performance.
MESSAGE FROM MANAGEMENT
The year 2022 consolidated Gafisa's strategy to position the company in the high-end segment, underlined by a robust operational performance, evidenced by the best sales figures over the past five years. Gross sales came 50% higher than in 2021, surpassing R$1.1 billion. Dissolutions went down, resulting in 67% net sales growth, totaling R$971 million; SoS reached 27.4% in 2022, 502 bps higher than the 22.4% recorded in 2021. Our launches volume also outpaced R$1 billion. We concluded the construction of eight projects in 2022, of which seven in the city of São Paulo and one in the city of Rio de Janeiro, delivering 1,170 units and R$765 million in PSV.
The year's highlights included the launch of Cidade Jockey project, with a PSV of R$340 million, Gafisa's highest launch in PSV over the past 10 years, and the delivery of Atlântico, at Copacabana beach, a high-end development, 100% sold out, with a PSV of R$126 million.
The Atlântico is amongst Gafisa's four projects overlooking the sea in the city of Rio de Janeiro.
Our strategic actions and acquisitions made over the past three years are fine-tuned with our stance of focusing on high-end, high value-added products, in premium areas of the cities of São Paulo and Rio de Janeiro. This strategy revealed to be assertive, especially because luxury products are more resilient to the market fluctuations.
We ended 2022 with a landbank of R$12 billion in PSV. We acquired plots of land in premium areas of São Paulo, such as Itaim-Bibi and Jardins, also Vieira Souto, in the district of Ipanema, Rio de Janeiro. We have the landbank required to remain positioned in the high-end segment. For 2023, we already have a pipeline of new business which will uphold the strategy's implementation in the medium and long run.
Gafisa is focused on the customer best journey experience; in this regard, we set up an exclusive area to execute our plan. We rely on luxury-specialized advisors concerned with an in-house acculturation work which enhances our services across all points of contact with customer. Our mission is to meet our customer's demands with excellence.
We also ended 2022 with an inventory of R$2.5 billion. Out of this total, upper-medium and high-end projects corresponded to 85%, currently, 98% is concentrated in the cities of Rio de Janeiro and São Paulo, in line with our strategic positioning.
Gafisa SA published this content on 29 March 2023 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 29 March 2023 03:05:07 UTC.