Slide 1: Gafisa Earnings 4Q15 Conference Call
AGafisa EARNINGS 4Q15 Grandes ideias para viver bem Oise: Sih me 4 Conference Call Do N YSE. March 4, 2016
Slide 2: Safe-Harbor Statement
SAFE-HARBOR STATEMENT AGafisa Grandes ideias para viver bem We make forward-looking statements that are subject to risks and uncertainties. These statements are based on the beliefs and assumptions of our management, and on information currently available to us. Forward-looking statements include st
Slide 3: Gafisa Segment 4Q15 Results
GAFISA SEGMENT AGafisa Grandes ideias para viver bem 4Q15 Results v v The Gafisa Segment launched five projects in the 4Q15, representing R$380.3 million. In 2015, 12 projects were launched, totaling R$996.3 million Net pre-sales totaled R$245.2 million in 4Q15, up 38% y-o-y and stable compared to 3
Slide 4: Gafisa Segment Operational and Financial Highlights
GAFISA SEGMENT AGeafisa Grandes ideias para viver bem Operational and Financial Highlights (R$ 000 and % Gafisa) 4a15 3Q15 QIQ (%) 4a14 YY (%) 12M15 12M14——_YIY (%) Launches 380,270 288,234 32% = - 996,316 1,023,012 3% Net pre-sales 245,196 247,608 1% 177,294 38% 914,796 811,032 13% Net pre-sales of
Slide 5: Gafisa Segment: G&A reduction and consistent adjusted gross margin
GAFISA SEGMENT LAGafisa Grandes ideias para viver bem G&A reduction and consistent adjusted gross margin . Launches (R$ million) Gross Sales by Market (R$ million) > Maintenance of the level of net Sales in the period, despite a more challenging macroeconomic scenario 673 38 ee aa a 288 217 253 v¥ A
Slide 6: Tenda Segment 4Q15 Results
TENDA SEGMENT AGafisa Grandes ideias para viver bem 4Q15 Results v¥ The Tenda segment launched 9 projects in this fourth quarter, totaling R$302.6 million in PSV. In 2015, launches reached R$1.1 billion v_ Net pre-sales totaled R$237.5 million in 4Q15, an increase of 88% y-o-y, and a 3% decrease com
Slide 7: Tenda Segment Operational and Financial Highlights
TENDA SEGMENT Operational and Financial Highlights (R$000 and % Tenday 4015 Launches 302,635 Net pre-sales 237,452 Net pre-sales of Launches 192,275 Sales over Supply (SoS) 20.9% Delivered projects (Units) 1,480 Net Revenue 206,822 Adjusted Gross Profit’ 61,927 Adjusted Gross Margin’ 29.9% Adjusted
Slide 8: Tenda Segment: Evolution in Level of Revenues and Higher Profitability
TENDA SEGMENT AGafisa Grandes s para viver bem Evolution in Level of Revenues and Higher Profitability Launches (R$ million) Adjusted Gross Margin 304% 29.8% 30,0% 222% v Adjusted gross margin in line with previous quarters v Operational consolidation of the New Model projects with better performanc
Slide 9: Consolidated Results
CONSOLIDATED RESULTS Operational and Financial Highlights (R$000 and % Gafisa) 4Q15 Launches 682,905 Net pre-sales 482,648 Net pre-sales of Launches 321,502 Sales over Supply (SoS) 14.19% Delivered projects (Units) 3,121 Net Revenue 559,246 Adjusted Gross Profit’ 189,319 Adjusted Gross Margin’ 33.9%
Slide 10: Spin-off Process
SPIN-OFF PROCESS AGafisa Grandes ideias para viver bem ated status On April 29, 2015, further to the material fact released on February 7, 2014, the Company disclosed a new material fact informing its shareholders and the market in general that studies and evaluation of the potential separation of t
Slide 11: 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: March 03, 2016 Gafisa S.A. By: /s/ Sandro Gamba Name: Sandro Gamba Title: Chief Executive Officer