PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
For the month of April, 2018
(Commission File No. 001-33356),
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the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)
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the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
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to the registrant in connection with Rule 12g3-2(b): N/A
PREVIEW OF OPERATIONAL RESULTS
1Q18
FOR IMMEDIATE RELEASE - São Paulo, April 11, 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 first quarter of 2018. The operational results are preliminary and subject to review by the auditors.
Gafisa announces today its operational results for the first quarter of 2018. In March, we launched the only project of the period, the Upside Pinheiros (São Paulo/SP), with total PSV of R$138.7 million and a solid SoS of 77.5%. This performance, jointly with the consistent inventory sales, resulted in gross sales of R$293.5 million in 1Q18, up by 35.2% and 24.6% q-o-q and y-o-y, respectively. Another highlight in 1Q18 was the significant decrease in dissolutions to R$57.7 million, which should reflect a new level for the upcoming quarters. As a result of these factors, net sales came to R$235.8 million, up by 93.5% and 100.8% q-o-q and y-o-y, respectively, with SoS of 14.4%.
|
1Q18 |
4Q17 |
Q/Q (%) |
1Q17 |
Y/Y (%) | |
|
Launches |
138,715 |
90,113 |
53.9% |
- |
- |
|
Gross Sales |
293,460 |
216,988 |
35.2% |
235,611 |
24.6% |
|
Dissolutions |
(57,702) |
(95,407) |
-39.5% |
(118,214) |
-51.2% |
|
Net Pre-Sales |
235,757 |
121,851 |
93.5% |
117,398 |
100.8% |
|
Speed of Sales (SoS) |
14.4% |
7.4% |
7.0 pp |
6.7% |
7.7 pp |
|
Delivered PSV |
- |
41,171 |
- |
265,058 |
- |
|
Table 2. Inventory at Market Value 1Q18 x 4Q17 (R$ thousand) | |||||||
|
4Q17 |
Launches |
Dissolutions |
Gross Sales |
Adjustments |
4Q17 |
Q/Q (%) | |
|
Inventory |
1,531,588 |
138,715 |
57,702 |
(293,460) |
(37,840) |
1,396,706 |
-8.8% |
|
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/ Sandro Gamba |
|
Name: Sandro Gamba
Title: Chief Executive Officer | |