São Paulo, August 14, 2014 - Viver Incorporadora e Construtora S.A. (BM&FBOVESPA: VIVR3) announces its operating and financial results for 2Q14.
Highlights:
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Conclusion of the Raposão site sale, with a consequent decrease of approximately R$130 million in debt.
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Prioritization of project execution and delivery. The Company delivered two projects in 2Q14 (Felice and Viver Ananindeua Phase 4).
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75% of our projects under construction will be deliveredin the next 18 months, reinforcing the Company's cash generation base and mone
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Focus on cash flow generation and asset sales to pay its current expenses and debts.
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Gross sales totaled R$39.1 million in 2Q14 and R$77.5 million in 1H14, with net sales of R$8.8 million and R$27.9 million, respectively.
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Total net debt reduction in more than R$100 million in 2Q14, reinforcing the Company's efforts to reduce its debt.
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General and administrative expenses continued to fall and their annualized level remained below R$35 million.
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Company signed the option to sell Parque do Carmo land for at least R$ 35 million, after the close of the quarter.
Click herefor the Earnings Release.
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