August 14, 2023
EARNINGS
RELEASE
2Q23
INVESTOR
RELATIONS
Viver Incorporadora
e Construtora S.A.
2Q23 | August 14, |
2Q 3 | |
Earnings Release | 2023 |
Viver Incorporadora e Construtora S.A announces its operational and financial results related to the second quarter of 2023 (2Q23)
Webcast
Data: August 15, 2023
Time: 3:00 p.m (Brasília time)
Link:Click here
Phones: + 55 11 3127-4971 + 55 11 3728-5971
Viver Incorporadora e Construtora S.A.
ON (B3: VIVR3)
Price: R$ 3.09 (06/30/2023)
Number of shares: 23,478,449
Market Value: R$ 72.5 MM
IR Contact
Larissa Stefanone Pereira
Investor Relations Coordinator
João Vitor Varricchio
Investor Relations Analyst
ri.viver@viver.com.br
www.ri.viver.com.br
2Q23 Highlights
The cash and cash equivalents account totaled R$30.6 million, reflecting a 44.3% increase compared
to the same period in 2022;
There was an 82.7% reduction in the Company's total indebtedness in relation to 2Q22 and a 10% reduction compared to 1Q23,
resulting in R$43.1 million in 2Q23;
The issuance of the Habite-sefor
Park 183, with 100% of inventory sold and in the final stages of payment reception;
Receipt of the "Real Estate Project Structuring Case" award from IBRADIM for the Park 183 Development;
Pre-launch of the Domum Home
Resort Development (Diadema) (subsequent event);
Launch of the Station Vila Madalena Development (subsequent event).
ri.viver@viver.com.br
Index 2Q23
Operational Performance | 9 | |||
Erro! Indicador não definido. | ||||
Financial Performance | 12 | |||
Balance Sheet | 16 | |||
Subsequent event | 19 | |||
Attachments | 20 | |||
ri.viver@viver.com.br
2Q23
Earnings Release
Message from Management
Continuing from what was presented in the previous quarter, the Company's result remained positive in 2Q23, with the ongoing reduction of the Company's total debt, which decreased to R$43.1 million on June 30, 2023.
Regarding the financial aspect, on June 30, 2023, the cash and cash equivalents account totaled R$30.6 million, representing an increase of 44.3% compared to the same period of 2022.
In April 2023, the Habite-se (Certificate of Occupancy) for the Park 183 Development was issued, the first project under the Brownfield business model delivered by the Company, and the pre-launch of the Domum Home Resort (Diadema) Development.
In relation to the Park 183 Development, we highlight that, in July 2023, the Company received the "Real Estate Project Structuring Case" award with notable recognition from the Brazilian Institute of Real Estate Law - IBRADIM.
Also in July 2023, the launch of the Station Vila Madalena Development (subsequent event) took place.
The assets acquired so far have been surpassing the Company's expectations, both in terms of results and operations. It is important to emphasize that we aim for growth with profitability and responsibility, not at any cost.
Management remains optimistic both regarding operational breakeven and the Company's ability to generate results, as well as concerning the real estate sector. Concerning the Company, due to the significant reduction in the Company's total debt, with the resulting reversal of its shareholders' equity and the entry of a new important investor, which occurred at the beginning of 2023. And in relation to the real estate sector, the macroeconomic scenario points to the sector's recovery, mainly due to the expected decrease in interest rates, which will favor the recovery of long-term debt, such as mortgages. This factor indicates that the sector will enter a new cycle of growth.
The company's performance has been improving considerably year after year. Its processes are more mature, and results are in continuous progress. It is important to note that in addition to continuing to dedicate itself to resolving legacy liabilities, the Company has already started its new cycle of operations and growth, through its two business models: Brownfield and Greenfield, demonstrating that it has been vigorously overcoming the obstacles of the past.
Ricardo Piccinini da Carvalhinha
Guilherme Claudio Gebara
Arthur Vinícius Ruperes Marin
ri.viver@viver.com.br
2Q23
Earnings Release
Operational and Finance Indicators
R$ million, except where | 2Q23 | 1Q23 | Var. 2Q23 | 2Q22 | Var. 2Q23 | ||||
indicated | / 1Q23 | / 2Q22 | |||||||
Operational Highlights | |||||||||
Pre-Sales (% Viver) | 19.8 | 22.6 | -12.2% | 21.8 | -9.0% | ||||
Pre-Sales (Units) | 68 | 76 | -10.5% | 104 | -34.6% | ||||
Average Unit Sales Price (R$) | 291,815 | 298,225 | -2.1% | 209,792 | 39.1% | ||||
Financial Highlights | |||||||||
Net Revenue | 11.6 | 18.4 | -37.0% | 26.7 | -56.6% | ||||
Gross Profit | (0.2) | 1.5 | -113.3% | 5.6 | -103.6% | ||||
Gross Margin | -1.9% | 7.9% | -9.8 p.p. | 21.0% | -22.9 p.p. | ||||
Adjusted Gross Profit1 | 1.9 | 4.5 | -57.8% | 5.6 | -66.1% | ||||
Adjusted Gross Margin1 | 16.4% | 24.6% | -8.1 p.p. | 21.0% | -4.6 p.p. | ||||
EBITDA | (13.6) | (22.9) | -40.6% | (12.4) | 9.7% | ||||
EBITDA Margin | -116.9% | -124.9% | 7.9 p.p | -46.5% | -70.5 p.p. | ||||
Net Income (Loss) | (15.0) | (26.0) | -42.3% | 18.5 | -181.1% | ||||
Net Margin | -129.3% | -141.3% | 12.0 p.p | 69.3% | - 198.6 p.p. | ||||
Backlog of Revenues | 2.7 | 3.4 | -20.6% | 8.0 | -66.3% | ||||
Backlog of Results | 0.5 | 0.7 | -28.6% | 0.3 | 66.7% | ||||
Backlog Margin | 17.5% | 22.0% | -4.5 p.p | 4.0% | 13.4 p.p | ||||
Selling Expenses | (3.0) | (1.7) | 76.5% | (1.6) | 87.5% | ||||
G&A² | (10.5) | (9.0) | 16.7% | (6.5) | 61.5% |
- Excluding interest capitalized in operating costs ² Excluding Depreciation and Amortization
ri.viver@viver.com.br
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Disclaimer
Viver Incorporadora e Construtora SA published this content on 14 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2023 13:24:04 UTC.