Even discloses preliminary 3Q14 operating results

São Paulo, October 20, 2014 – Even Construtora e Incorporadora S.A. – EVEN (BM&FBOVESPA: EVEN3), a builder and developer with operations in the states of São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais, focused on residential developments with units priced above R$250,000, announces its preliminary and unaudited data for launches, sales, land acquisitions and deliveries in the third quarter of 2014.

Three projects were launched in the 3Q14, totalling R$289 million (Even‘s share), bringing 9M14 accumulated launch value to R$1,065 million (Even‘s share).

Contracted sales came to R$270 million (Even‘s share), R$25 million (9%) of which from projects launched in the quarter and the remainder, R$245 million (91%), from units in inventory.
The period sales-over-supply ratio (VSO) stood at 10%.

We acquired five new sites in the 3Q14 with a combined PSV of R$525 million (Even‘s share). As a result, our land bank closed 3Q14 with PSV of R$6.5 billion (Even‘s share).

Projects Delivered¹
In 3Q14, we delivered seven projects comprising 1,021 units, equivalent to a launch PSV of R$398 million (Even‘s share). As a result, in 9M14 we delivered 29 projects, totalling launch PSV of R$1.7 billion (Even‘s share) and 5,439 units.

¹Unaudited management figures, subject to alteration.

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Dany Muszkat

Ivan Bonfanti
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