Slide 1: Gafisa Earnings Presentation
AGafisa VOCE IDEALIZA. A GENTE GAFISA. 2918 Earnings Presentation
Slide 2: Operational Performance
A Operational Performance : AZ \. |.
Slide 3: Good sales performance of launches in first months of the year
4 Good sales performance of launches in first 6 months of the year 1Q18 UPSIDE PINHEIROS UPSIDE PARAISO BELVEDERE LORIAN MOOV BELEM = Total PSV in 1H18 of RS 539 million, already reaching the total PSV recorded for the full year of 2017 of RS 554 million = SoS of launches reached 52,5% in the quarte
Slide 4: Launches and consistent sales from inventories with better margins
4, Launches and consistent sales from inventories with better margins contributed to strong performance in the quarter 2Q18 Net Sales Breakdown (%) Net Sales (R$ MM) and SoS 37.6% 42.2% R$346MM [VALOR] 236 [ i i i a =Launches = Inventories 2Q153Q154Q15 sone Ld 3Q164Q16 i Lf an 19182918 HE Net Sales
Slide 5: Cancellations evolution pointing to a new level
A Cancellations evolution pointing to a new level Cancellations (R$MM) 170 147 125 132 116 118 106 400 114 OB 84 | l l | | | lJ ‘i 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1918 2918
Slide 6: Gradual reduction in inventories confirms Gafisa's strategy
A The gradual reduction in inventories confirm Gafisa’s strategy to balance concluded projects and launches Inventory Evolution 2018 (R$ thousand 400 aa oo | 1396 406 55 Inventory 1018 Launches Cancellations Gross Sales Adjustments! Inventory 2018 Inventory turnover LTM (Months' 1 Lowest inventory '
Slide 7: Financial Performance
A Financial Performance \. ‘Ls Gafisa
Slide 8: Sales of healthy margins projects positively impacted financial results
A Sales of healthy margins projects positively impacted the financial results in the period Net Revenue 302,271 213,397 41.6% 147,254 105.3% 515,668 283,792 81.7% Gross Profit 72,824 22,862 218.5% (14,403) ~605.6% 95,686 (31,570) 403.1% Gross Margin 24.1% 10.7% 1,340 bps 9.8% 3,390 bps 18.6% 111% 2,
Slide 9: Positive performance from last launches confirms positive outlook
A The positive performance from last launches confirms a positive outlook which was already being signaled Backlog Revenues 701,634 625.251 12.2% 450,923 55.6% Backlog Costs (units sold) (438,806) (393,999) 11.4% (289,632) 51.5% (nn en nn en en en nn ee nnn ! Backlog Results 262,828 231,253 13.7% 16
Slide 10: Gradual inflection led to highest EBITDA from the last 2 years
A Gradual inflection in the financial results led to the highest EBITDA from the last 2 years Recurring Adjusted EBITDA Evolution (R$ Thousand 12,491 “ 3,245 mz (264) 2Q16 a 4Q16 1Q17 2Q17 Eye, eye, 1018 (15,693) (47,326) (44,199) (65,054) (92,420) ‘Adjusted by expense with stock option plan (non-ca
Slide 11: Gradual recovery led to positive cash generation in 2Q18
A Gradual recovery of operational and financial performance led to positive cash generation in 2Q18 Availabilities? 204,938 212,897 Change in Availabilities 57,476 7,959 Total Debt + Investor Obligations 983,468 964,770 Change in Total Debt + Investor Obligations -121,430 -18,698 Capital Increase 25
Slide 12: Gafisa remains focused on deleveraging
A. Gafisa remains focused on deleveraging, with debt reducing significantly due to capital increase and renegotiations. Net Debt Evolution (R$ MM) 1,443 1,386 958 779 752 2015 2016 2017 1Q18 2Q18 v The Company ended 2Q18 with R$277 million, or 28.7%, in total debt maturing in the short term, compare
Slide 13: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: August 9, 2018 Gafisa S.A. By: /s/ Sandro Gamba Name: Sandro Gamba Title: Chief Executive Officer