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For the month of October, 2018
(Commission File No. 001-33356),
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PREVIEW OF OPERATIONAL RESULTS
3Q18
FOR IMMEDIATE RELEASE - São Paulo, October 10, 2018 – Gafisa S.A. (B3: GFSA3; NYSE: GFA), one of Brazil’s leading diversified homebuilders focused on the upper-middle and high-income segments, announced today its operational results for the third quarter of 2018. The operational results are preliminary and subject to review by the auditors.
In 3Q18, Gafisa launched one single project, Vision Pinheiros, with total PSV of R$ 71.1 million, which added to other projects launched in the year, totaled R$647.0 million in the first nine months of the year. The lower volume of launches echoes the Company’s strategy to launch more projects on the first semester of the year, due to the macroeconomical uncertainties of the Brazilian market. Thus, the Company’s efforts were focused on inventory sales, which resulted in lower speed of sales (-10.49bps versus 2Q18 and -8.91bps versus 3Q17). We would like to highlight the reduction in cancellations, still in line with the new level already reaffirmed, resulting in a a decline of 13.8% in the quarterly comparison and 38.8% compared to 3Q17. It is also worth mentioning the delivery of 03 projects in the quarter, with total PSV of R$346.0 million.
|
3Q18 |
2Q18 |
Q/Q (%) |
3Q17 |
Y/Y (%) | |
|
Launches |
71,144 |
399,875 |
-82.2% |
463,841 |
-84.7% |
|
Gross Sales |
188,125 |
405,858 |
-53.6% |
438,429 |
-57.1% |
|
Cancellations |
(51,661) |
(59,912) |
-13.8% |
(84,390) |
-38.8% |
|
Net Pre-Sales |
136,464 |
345,946 |
-60.6% |
354,039 |
-61.5% |
|
Speed of Sales (SoS) |
9.4% |
19.9% |
-10.49bps |
18.3% |
-8.91bps |
|
Delivered PSV |
346,009 |
300,991 |
15.0% |
75,227 |
360.0% |
|
Table 2. Inventory at Market Value 3Q18 x 2Q18 (R$ thousand) | |||||||
|
2Q18 |
Launches |
Dissolutions |
Gross Sales |
Adjustments |
3Q18 |
Q/Q (%) | |
|
Inventory |
1,395,626 |
71,144 |
51,661 |
(188,125) |
(11,608) |
1,318,698 |
-5.5% |
|
IR Contacts |
Press Contacts |
 |
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Gafisa. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors; therefore, they are subject to change without prior notice.
SIGNATURE
|
Gafisa S.A. | |
|
By: |
/s/ Ana Maria Loureiro Recart |
|
Name: Ana Maria Loureiro Recart
Title: Chief Executive Officer | |