EARNINGS RELEASE | 3Q23 | ||
EARNINGS RELEASE | |||
November 09th, 2023 |
OPERATIONAL PREVIEW 3Q23
Dear reader, the management information presented herein is subject to external audit review, and may differ from that presented in the Earnings Release. In case of conflict, the information presented in our Earnings Release prevails.
New Showroom on Ibirapuera Avenue, targeting developments in the South Zone
EZTEC exceeds R$1.1 billion in gross sales, the best 9M in the company's history.
This quarter, the company launched a development - Lindenberg Alto de Pinheiros - following its strategy of being cautious with launches to avoid increasing inventory. This launch, in less than a month on duty, was already almost 25% sold, corroborating the relevance of the EZCAL JV. The sales volume, lower than last quarter, can be explained mainly by the reduction in the amount of PSV launched, which historically is closely related to sales volume. Cancellations were mainly due: (i) cancellations of EZ Parque da Cidade (7 units) of around R$15 million; (ii) upgrades between Unique Green towers, approximately R$8 million and (iii) delivery of Reserva JB at the end of last quarter.
LINDENBERG ALTO DE PINHEIROS - PSV (%EZTEC) R$85 MN - 24.4% sold*
Click on the Imagesto access the Launch Communication.
Under | Expected | Private area | # Units | PSV %EZ | |||||||||||||||||||||||||||||||||
LAUNCHES INFORMATION | %EZTEC | SPE | Income | Suspensive | Region | Location | Standard | (residential + | % Sold* | ||||||||||||||||||||||||||||
Delivery | (sq. m.) | (R$ MM) | |||||||||||||||||||||||||||||||||||
Clause | non res.) | ||||||||||||||||||||||||||||||||||||
1Q | 17,986 | 282 | 61.6% | 127.2 | |||||||||||||||||||||||||||||||||
Jota Vila Mariana | 50% | Gregório | Equity | No | South Zone | Vila Mariana | High-end | 2Q26 | 17,986 | 282 | 61.6% | 127.2 | |||||||||||||||||||||||||
2Q | 29,551 | 167 | 48.7% | 474.5 | |||||||||||||||||||||||||||||||||
East Blue | 100% | Jacareí | Consolidated | No | South Zone | Tatuapé | Middle-end- | 2Q26 | 16,587 | 123 | 59.5% | 174.5 | |||||||||||||||||||||||||
High-end | |||||||||||||||||||||||||||||||||||||
Lindenberg Ibirapuera | 90% | Caldas | Consolidated | Yes | South Zone | Paraíso | High-end | 2Q26 | 12,964 | 44 | 34.8% | 300.0 | |||||||||||||||||||||||||
Novas | |||||||||||||||||||||||||||||||||||||
3Q | 8,448 | 41 | 24.4% | 85.0 | |||||||||||||||||||||||||||||||||
Lindenberg Alto de Pinheiros | 50% | EZCAL 1 | Equity | Yes | West Zone | Pinheiros | High-end | 3Q26 | 8,448 | 41 | 24.4% | 85.0 | |||||||||||||||||||||||||
YEAR-TO-DATE | 55,985 | 490 | 53.6% | 686.7 | |||||||||||||||||||||||||||||||||
*Considerando a área privativa vendida; Imagens ilustrativas, sujeitas a alterações
This quarter, R$162.6 million of PSV (% EZTEC) were DELIVERED related to the Pin Internacional project.
The Company estimates another
R$ 1.3 billion throughout 2023.
Gross SoS decreases by 3.1 p.p. compared to 3Q22
Quarterly sales evolution
EARNINGS RELEASE | 3Q23 |
Pin Internacional 99% Sold*
* Considering the private area sold. Photo taken by drone in 2Q23
Sales of inventory under construction increased by 30% compared to 3Q22.
Evolution of gross sales by status - R$ million
471 | 487 | |||
393 | ||||
415 | 335 | 419 | 346 Gross sales | |
SoS 11.5% | ||||
million | 346 | Net Sales | ||
294 | ||||
281 SoS 9.6% | ||||
R$ | ||||
3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 |
Launches
Under
Construction
Performed
82
195 | ||||
240 | ||||
224 | ||||
228 | ||||
173 | ||||
40 | 64 | 3Q23 | ||
2Q23 | ||||
58 | 3Q22 |
Parque da Cidade represents approximately R$ 15 MN (7 units) of the amount cancellations
Quarterly evolution of cancellations | 67 | 65 | ||
Cancellations | ||||
55 | 54 | Adjusted | ||
48 | 63 | |||
cancellations* | ||||
41 | ||||
50 | Cancellations | |||
EX PDC** | ||||
30 | 32 | |||
R$ milhões | 26 | |||
3Q22 4Q22 1Q23 2Q23 3Q23
4% reduction in inventory, R$101 million, compared to 2Q23
Inventory evolution (R$ million)
2,748 | 2,843 | 2,763 | 2,662 | |||||||||||
2,620 | ||||||||||||||
397 | ||||||||||||||
222 | 481 | 147 | ||||||||||||
567 | ||||||||||||||
Launches | ||||||||||||||
2.085 | 1.954 | 2.085 | Under | |||||||||||
1.689 | 1.833 | Construction | ||||||||||||
R$milhão | 430 | Performed | ||||||||||||
492 | 444 | 449 | 430 | |||||||||||
3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 |
*Cancellations excluding Downgrades, Upgrades, and Transfers. **Cancellations excluding Parque da Cidade.
Thank you,
São Paulo, October 11th, 2023
SAVE THE DATE | 12.08.2023 | EZTEC DAY 2023
More information about the event for our investors will be coming soon.
We count on your opinion to continue evolving our releases!
For questions, criticism, suggestions and/or compliments, please access https://ri.eztec.com.br/en/contact-ri/
Investor Relations Team