Operational Preview | 2nd Quarter 2021
FOR IMMEDIATE RELEASE - São Paulo, July 19, 2021 - Gafisa S.A. (B3: GFSA3; OTC: GFASY), one of Brazil's leading homebuilders, announces today its operational results for the second quarter of 2021. The operational results are preliminary and subject to review by the auditors.
GAFISA's sales reached R$201 million in 2Q21, up 386% over 2Q20. Launches and pre-launches reached R$809 million.
Gafisa releases to the market a preview1 of its operational results for the second quarter of 2021, as well as the performance of sales, launches and inventory indicators.
Sales totaled R$201 million in the second quarter of 2021 and R$364 million in the first half of the year, moving up substantially over the same periods in 2020.
In the second quarter, as sanitary restrictions are eased, the Company reinforced its presence in the market with launches and pre-launches totaling R$809 million. The amount corresponds to more than half the guidance for the year.
In the last 12 months, Gafisa's launches totaled R$ 1,2 billion, net sales exceeded R$698 million and SoS reached 36.9% in the quarter. These amounts are the highest since the first quarter of 2019 and reinforce Management's commitment to sustainable growth in sales and profit.
Performance of Launches and Net Sales (LTM²)
R$ million
1,206.4 | ||||||||||||||||
898.3 | 898.3 | 905.5 | ||||||||||||||
655.9 | 698.4 | |||||||||||||||
590.0 | 627.3 | 619.3 | 619.3 | |||||||||||||
538.3 | ||||||||||||||||
438.0 | ||||||||||||||||
337.6 | 271.0 | |||||||||||||||
190.1 | 214.4 231.1 | 196.0 | 174.7 | 263.8 | 225.9 | |||||||||||
138.3 | ||||||||||||||||
118.9 | 135.5 | |||||||||||||||
1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 | 2Q21 | |||||||
Launches (% Gafisa) | Pre-Sales | Launches | ||||||||||||||
Note 1 - The operational results are preliminary and subject to review by the auditors. | ||||||||||||||||
Note 2 - Result for the last 12 months. | 1 |
Operational Preview | 2nd Quarter 2021
Sales
Gross sales reached R$201 million in the second quarter and R$364 million in the first half of 2021. These amounts represent a year-on-year increase of 386% and 354%, respectively.
Net Sales
Net sales reached R$180 million in the second quarter and R$309 million in the first half of 2021. These amounts represent a year-on-year increase of 806% and 538%, respectively.
Gross Sales, Net Sales and SoS² per quarter
R$ million
20.5%
292.9
10.6%
13.1%
11.7%
201.1
3.2%
162.9
143.9
2.3%
38.7 41.4
28.6 | 19.8 | 117.7 | 271.9 | 128.9 | 179.9 | ||||||
1T20 | 2T20 | 3T20 | 4T20 | 1T21 | 2T21 | ||||||
Net Sales | Dissolutions | Sales over Supply (SoS) | |||||||||
Note 1 - The operational results are preliminary and subject to review by the auditors.
Note 2 - Sales over Supply (SoS)
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Operational Preview | 2nd Quarter 2021
Launches
In the second quarter of 2021, launches and pre-launches reached R$809 million, of which R$563 million corresponds to Gafisa's share. Gafisa reaffirms its commitment to launch R$ 1,5 billion in 2021. Pre- launches have operating sales stands and active sales campaigns.
Launches by quarter | ||||||||
R$ million | 809.8 | |||||||
Launches (Total) | ||||||||
Pre (+) Launches (% Gafisa) | 627.2 | |||||||
Launches (% Gafisa) | ||||||||
562.9 | ||||||||
271.0 | 308.1 | |||||||
263.8 | 355.5 | 286.2 | ||||||
1T20 | 2T20 | 3T20 | 4T20 | 1T21 | 2T21 |
Launches and pre-launches reached R$809 million in PSV in 2021
Launch | Invert Campo Belo Flow Nestor Pestana | Marajoara Club House Ibirapuera Park house | ||
Launch | Pre-launch | Pre-launch | Pre-launch | |
PSV | 308,105 | 140,216 | 147,823 | 213,669 |
% Gafisa | 100% | 100% | 100% | 0% |
PSV Swapped | 21,903 | 11,300 | - | - |
Gafisa's PSV Ex-Swap | 286,202 | 128,916 | 147,823 | - |
Flow Nestor Pestana
Ibirapuera | Invert Campo Belo |
Park house | |
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Operational Preview | 2nd Quarter 2021
Inventory
In the second quarter of 2021, the Company's inventory units grew 22% over the previous quarter. The distribution by region demonstrates adherence to the Company's strategy. The new projects already account for around 40% of inventory, while finished units account for approximately 25%.
Inventory by construction stage | Inventory by region | ||||||||||||||||
R$ million | R$ million | ||||||||||||||||
1,193.1 | 1,193.1 | ||||||||||||||||
977.5 | 26% | 977.5 | 10% | ||||||||||||||
7% | 24% | ||||||||||||||||
24% | |||||||||||||||||
29% | |||||||||||||||||
33% | 37% | ||||||||||||||||
64% | 66% | ||||||||||||||||
37% | |||||||||||||||||
43% | |||||||||||||||||
1Q21 | 2Q21 | 1Q21 | 2Q21 | ||||||||||||||
Launch | Under construction | Finished | São Paulo | Rio de Janeiro | Other Markets | ||||||||||||
Gafisa delivered 4 projects, totaling 823 units
and PSV of over R$420 million.
Deliveries | Moov Brás | J330 | Upside Pinheiros | Life |
Date | May/21 | May/21 | May/21 | June/21 |
Units | 543 | 28 | 84 | 168 |
Total PSV (R$ million) | 94,162 | 77,823 | 159,990 | 93,000 |
Location | São Paulo | São Paulo | São Paulo | Rio de Janeiro |
For more information, please contact us.
IR Contact | Ian Andrade |
Chief Financial Officer and Investor Relations Officer | |
Email:ri@gafisa.com.br | |
Flavio Prieto | |
IR Website: www.Gafisa.com.br/ri | |
Investor Relations Manager | |
This release contains forward-looking statements relating to the business prospects, estimates for operating and financial results and 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.
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Gafisa SA published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 19:27:03 UTC.