RESULTS VIDEO CONFERENCE 2Q21

AUGUST 17, 2021

In Portuguese

11:00 a.m. Brasília time http://cast.comunique-se.com.br/Gafisa/2T21

In English

10:00 a.m. New York time

(simultaneous translation of Portuguese) http://cast.comunique-se.com.br/Gafisa/2Q21

Replay

http://ri.gafisa.com.br/

Shares

GFSA3 - B3

GFASY - OTC

Total shares:

309,552,184, of which 341,570 shares are held in treasury.

Market cap (2Q21):

R$1,365 million

US$275 million

*Base date 06/30/2021.

IR Contact:

E-mail:ri@gafisa.com.br

IR Website:http://ri.gafisa.com.br/

Page 2

Earnings Release | 2Q21

GAFISA ANNOUNCES 2Q21 RESULTS

PRE + LAUNCHES

R$ 809 million in 2Q21 more than Half of the year's guidance

SALES

R$ 201 million in 2Q21

+386% vs 2Q20

NET REVENUE

R$ 259 million in 2Q21 +52% vs 1Q21

GROSS PROFIT

R$ 76 million in 2Q21

+96% vs 1Q21

GROSS MARGIN

29,3% 2Q21 vs 22,7% 1Q21

NET INCOME

R$ 26 milhões no 1S21

+R$ 75mi vs 1H20

OPERATING RESULTS

OPERATING PERFORMANCE (R$ 000)

2Q21

1Q21

Q/Q (%)

2Q20

Y/Y (%)

1H21

1H20

Y/Y (%)

Launches

308,105

-

-

308,105

-

Gross Sales

201,120

162,865

23.5%

41,383

386.0%

363,985

80,120

354.3%

Distratos

(21,221)

(33,915)

(37.4%)

(21,543)

(1.5%)

(55,137)

(31,678)

74.1%

Net Sales

179,899

128,950

39.5%

19,840

806.8%

308,848

48,442

537.6%

Sales Speed (SoS)

13.6%

11.7%

193 bps

2.3%

1,128 bps

21.3%

5.4%

1,581 bps

PSV Delivered

424,974

-

543,719

(21.8%)

424,974

608,887

(30.2%)

FINANCIAL PERFORMANCE (R$ 000)

2Q21

1Q21

Q/Q (%)

2Q20

Y/Y (%)

1H21

1H20

Y/Y (%)

Net Revenue

259,227

170,132

52.4%

83,800

209%

429,359

155,503

176%

Gross Profit

76,109

38,680

96%

22,714

235%

114,789

43,176

166%

Gross Margin

29.3%

22.7%

656 bps

27.1%

219 bps

26.7%

27.8%

-103 bps

Adjusted Gross Margin

31.8%

27.1%

469 bps

35.3%

-351 bps

29.9%

36.2%

-628 bps

Net Income

13,108

12,967

1%

(23,545)

-

26,075

(49,007)

-

Adjusted Current Net Sales

26,404

5,765

358.0%

(23,564)

-

-

-

-

Revenues to be Recognized

306,187

300,279

2%

306,484

0%

306,187

306,484

0%

Net Debt

760,306

624,122

21.8%

310,312

145%

760,306

310,312

145%

Cash and Cash Equivalents

145,084

692,001

(79.0%)

363,337

(60%)

145,084

363,337

(60%)

Equity + Minority Shareholders

1,632,995

1,571,324

3.9%

1,177,187

39%

1,632,995

1,177,187

39%

(Net Debt)/ (Equity + Minority)

46.6%

39.7%

684 bps

26.4%

2,020 bps

46.6%

26.4%

2,020 bps

(Net Debt)/ (Equity + Minority) Ex

27.9%

18.7%

921 bps

26.4%

151 bps

27.9%

26.4%

151 bps

Gafisa Propriedades

1.

Adjusted to exclude non-recurring events.

Page 3

2.

Backlog results, net of PIS/Cofins - 3.65%, excluding the PVA (Present Value Adjustment) method, according to Law No. 11.638.

Earnings Release | 2Q21

Launches

In the second quarter, with sanitary rules getting progressively more relaxed, the Company bolstered its presence in the market with launches and pre-launches that totaled R$809.8 million. This amount corresponds to more than half of the year's guidance. Out of this total, R$562.9 million refer to the Company's participation in projects. Gafisa ratifies its commitment with the market to launch R$1.5 billion in 2021. Pre-launches rely on active sales kiosks and commercial initiatives.

The Invert project was launched in 2Q21, a new concept with residential towers in which green areas, leisure and well-being were privileged , with a PSV of R$308.1 million, and located at Rua Otávio Tarquíneo de Sousa, one of the most expensive neighborhoods in the city of São Paulo, Campo Belo; Pre-launch projects include Flow, with estimated PSV of R$146.2 million, located at rua Nestor Pestana, Consolação district. We also have the Marajoara Club House project, with estimated PSV of R$147.8 million, located at rua José Homero Roxo, Jardim Marajoara district, and the Ibirapuera Park House, with estimated PSV of R$213.6 million, well located at Moema Pássaros, only 400m away from Ibirapuera park.

Combined, these three projects total a gross PSV of R$809.8 million.

In the last 12 months, Gafisa launched R$1.2 billion, contracted more than R$698 million in net sales and reached 36.9% SoS in 2Q21. These figures are the highest since 1Q19 and reinforce the management's commitment to a sustainable growth of sales and income.

LAUNCHES AND PRE-LAUNCHES (R$ 000)

Pre Launch

Invert Campo

Flow Nestor

Marajoara

Ibirapuera Park

Belo

Pestana

Club House

house

Launch

Pre Launch

Pre Launch

Pre Launch

PSV

308,105

140,216

147,823

213,669

% Gafisa

100.0%

100.0%

100.0%

0.0%

Swaped PSV

21,903

11,300

-

-

PSV Launched w/o swap

286,202

128,916

147,823

-

Page 4

Earnings Release | 2Q21

Sales

Gross sales totaled R$201 million and R$364 million in 2Q21 and 1H21, respectively, or an increase of 386% and 354% compared to the same periods of 2020. We also reached 13.1% SoS, +10 p.p. in the y-o-y comparison, as a result of the initiatives to boost sales since the Company's repositioning. In line with operational improvement, dissolutions in 2Q21 totaled R$21.2 million, lower than figures recorded in 1Q21 and 2Q20, while net sales came to R$179.9 million in 2Q21.

EVOLUTION OF GROSS SALES, DISSOLUTIONS AND SOS BY QUARTER (R$ MILLION)

Net pre-sales totaled R$180 million and R$309 million in 2Q21 and 1H21, respectively, or a growth of 806% and 538% compared to the same periods of 2020. Out of units sold, nearly 80% of units are under stage of construction or conclusion.

LAUNCHES PERFORMANCE AND LTM NET SALES (R$ MILLION)

Page 5

1. LTM - Last Twelve Months

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Gafisa SA published this content on 17 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2021 07:42:02 UTC.