Investor Presentaiton
"
☐
Cash, Leverage and
Capital Distribution
Cash Generator
Business Model
Mortgage transfer right after
sales
Fast construction cycle
Accelerated cash flow
generation
The company goes through a moment of post-Covid, but remains
strategically well-positioned in the low-income housing segment in Brazil
Cash Generation
R$ million
323
134
139
265
246
70
22
31
Minimum Cash
" Minimum cash equivalent to:
☐
3 months of operational
cash outflows
Debt (short term)
"
Land (short term)
Capital Distribution
■
Stock buyback
☐
Dividends payment
Impacto desvio de custo P&L
15
1Q22
43
2Q22
-13
2013
2014
2015
2016
2017
2018
2019
2020
2021
-297
2022
-38%
76
47
3Q22
4Q22
|
We see 2023 as the last year of crossing this new
turnaround started in 3Q21, when we detected worse
than expected inflationary pressures and execution
challenges in the context of the pandemic. It should be
noted that our cost variances should follow this new
downward trend, the expectation is that approximately
80% of the most problematic works in terms of cost
deviations (launched by Dec/2021) end by the end of |
2Q23, which ensures a significant recovery of margins |
expected for the second half of 2023.
|
Note: (1) Distribution Yield = Capital Distribution LTM / Market Cap LTM. Market Cap LTM calculated based on TEND3 average price in the last 12 months
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