Even posts record-high contracted sales of R$580 million in 2Q10


In 2Q10, Even posts record-high contracted sales of R$580 million
and launches of R$483 million, achieving 49% of its launch guidance for the whole of 2010

Sales-over-supply ratio (VSO) of 35% in the quarter

In the period, EVEN acquires land with potential sales value (PSV) of R$754 million

São Paulo, July 12, 2010 – Even Construtora e Incorporadora S.A. – EVEN (Bovespa: EVEN3), with operations in the states of São Paulo, Minas Gerais, Rio de Janeiro and Rio Grande do Sul and a focus on residential developments with units priced up to R$500,000, hereby announces preliminary data related to the second quarter of 2010.

In 2Q10, projects with combined PSV of R$483 million were launched, distributed across all of the company‘s markets (São Paulo, Rio de Janeiro, Minas Gerais and Rio Grande do Sul) and well diversified by segment² (36% Open and 64% Even). All units in the projects launched were priced up to R$500,000, which is the limit for enabling buyers to qualify for financing from the SFH housing finance system. Of the units launched in the quarter, 64% were sold in the same period.

Contracted sales totaled R$580 million in the quarter, of which R$306.6 million (53%) was from projects launched in the period and the remainder, R$273.6 million (47%), was from units in inventory, bringing sales in the first six months of the year to R$1.014 billion. The sales-over-supply ratio (VSO) was 35% in the quarter.

In 2Q10, new lots were acquired with combined PSV of R$754 million (Even‘s interest), of which 39% was classified under the Even segment and 61% under the Open segment, in line with our strategy to diversify projects across segments and to take advantage of excellent opportunities as they arise.

¹ Management data, subject to change
² Segments:
Open: Projects with units priced between R$100,000 and R$350,000
Even: Projects with units priced over R$350,000

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