Even announces its 3Q14 Results
São Paulo, November 11, 2014 – Even Construtora e Incorporadora S.A. – EVEN (Bovespa: EVEN3), with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais and focus on residential developments with unit value above R$250,000 announces its results of the third quarter of 2014 (3Q14). Except where stated otherwise, the consolidated financial and operating information herein is presented in Brazilian real (R$).
• Net income of R$82 million in 3Q14;
• 29 projects delivered in 9M14 with PSV of R$1.7 billion, Even‘s share (considering sales price at the time of launch);
• Gross margin (ex-financing) stood at 38.5%, mainly due to the installments receivable adjusted by INCC and the slight reduction in the budgeted cost of few projects;
• Accounts receivable from clients totaled R$1.8 billion in 9M14;
• Even was considered the most innovative Civil Construction company, in the Época Negócios ranking (disclosed in September 2014);
• We reached 95.2% of the share buyback program initiated in February 2014, after the acquisition of 1.4 million shares in 3Q14 and 4.9 million shares in early 4Q14.
In order to download the 3Q14 Earnings Release, please click here.
Even, aiming to ensure the fair disclosure of its results, also invites for the Conference Calls:
Conference Call in Portuguese with simultaneous translation into English
November 12, 2014
8:00 a.m. (New York time)
11:00 a.m. (Brasília time)
1:00 p.m. (London time)
Phone: +1 (412) 317-6776
Code: EVEN
Replay: +1 (412) 317-0088
Code: 10049664
Webcast: Click Here
Participants are requested to connect 15 minutes prior to the schedule.
Replay: A conference call replay facility will be available until November 19th, 2014
In order to access the replay, dial mentioned numbers above.
Cordially,
Dany Muszkat
CFO and IRO
Ivan Bonfanti
IR Manager
IR Contact:
Phone: +55 11 3377-3777
Fax: +55 11 3377-3780
E-mail:ri@even.com.br
www.even.com.br/ir