Q3 2024 Even Construtora e Incorporadora S/A Earnings Call (English, Portuguese) Transcript
Key Points
- Even Construtora E Incorporadora SA (BSP:EVEN3) reported a significant growth in net sales, amounting to BRL1 billion, with a 47% increase in inventory sales compared to the previous year.
- The company achieved a gross profit of BRL459 million, marking a 62% increase from the same period last year, with an adjusted gross margin of 30.7%.
- Even's Sao Paulo operation delivered BRL164 million in net income, a 21% increase compared to the first nine months of 2023, with an annualized ROE of 11.7%.
- The company generated BRL212 million in cash and paid out BRL230 million in dividends in 2024, demonstrating strong cash flow and shareholder returns.
- Even launched a high-end project in partnership with RFM, indicating confidence in future projects and strategic positioning in the middle-income and high-end segments.
- The sale of Melnick shares at market price, below its equity value, negatively impacted profit by BRL106 million, resulting in a consolidated loss of BRL110 million.
- There were delays in project launches due to interruptions in municipal approvals, affecting the timing of market entries.
- The company faces competition in the high-end segment, particularly with the Faena project, which may require strategic adjustments.
- Material and labor costs are rising, putting pressure on margins, although the company is monitoring these closely.
- There is a concern about the impact of higher interest rates on the market, although Even's high-end focus provides some protection.
Welcome to Even's earnings call concerning the results of the third quarter of 2024. I would like to point out that for those who need simultaneous translation, the tool is available on the platform. To use it, you have to click on the button, interpretation, the globe icon at the bottom of the screen and choose your preferred language, Portuguese or English. For those who will listen to this teleconference in English, there is an option available to mute the original audio in Portuguese by clicking on the mute original audio button. We'd like to inform you that this event is being recorded and will be made available on the company's investor relations website, where the complete material concerning this earnings call will be available. (Operator Instructions)
We would like to clarify that any statements that might be made during this teleconference regarding Even's business prospects as well as its operating and financial projections and goals are based on the beliefs and assumptions held by the company's management and on information currently available. Forward-looking considerations are not a
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
