Land acquisitions in the quarter representing potential sales of R$1.1 billion, with 83% in SP

São Paulo, May 07, 2014 – Even Construtora e Incorporadora S.A. – EVEN (BM&FBOVESPA: EVEN3), a company with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais, and a focus on residential developments with units priced above R$250,000, announces its results of the first quarter of 2014 (1Q14). Except where stated otherwise, the consolidated financial and operating information herein is presented in Brazilian real (R$). The main Highlights of the period are the following:

• Cash generation of R$17.2 million;
  
• Low leverage ratio (Net Debt/Shareholders’ Equity) of 47.2%;
• Land acquisitions in the quarter representing PSV of R$1.1 billion, 83% of which located in SP;
• Gross margin of 35.3%, posting a consistent growth;
  
• LTM ROE of 14.9%;
• We delivered six projects in 1Q14 with PSV of R$367 million (considering sales price at the time of launch, Even’s share);
• Even was included in the Ibovespa index portfolio in January 2014 and remained included after the rebalancing in May;

 
In order to download the 1Q14 Earnings Release, please click here.

Even, aiming to ensure the fair disclosure of its results, also invites for the Conference Calls:

English Conference Call
May 08, 2014
11:30 am (New York time)
10:30 am (Brasília time)
3:30 pm (London time)
Phone: +1 (412) 317-6776
Code: EVEN
Replay: +1 (412) 317-0088
Code: 10044965
Webcast: Click Here

Portuguese Conference Call
May 08, 2014
09:30 am (New York time)
08:30 am (Brasília time)
1:30 pm (London time)
Phone: +55 (11) 3127-4971 or
(11) 3728-5971
Code: EVEN
Replay: +55 (11) 3127-4999
Code: 58610036
Webcast: Click Here

Participants are requested to connect 15 minutes prior to the schedule.

Replay: A conference call replay facility will be available until May 14^th, 2014.

In order to access the replay, dial mentioned numbers above.