Q1 2026 Even Construtora e Incorporadora SA Earnings Call (English, Portuguese) Transcript
Key Points
- Net sales of inventory increased by 3% compared to the same period last year, despite no new launches.
- Delivered a project with a PSV of BRL468 million, 45% higher than the first quarter of 2025.
- Gross profit for the period was BRL85 million with an adjusted gross margin of 35.6%, showing a 6.2% improvement annually.
- Comprehensive net income was BRL47 million, considering the effects of selling participation in controlled SPEs.
- The company has a robust cash position with BRL924 million in cash and a net debt representing only 25% of shareholders' equity.
- Cost pressures due to the conflict in Iran and high interest rates pose challenges.
- Operating cash burn was BRL56 million for the quarter.
- The decision-making period for high-end clients has extended, impacting sales cycles.
- The company anticipates burning additional cash, potentially increasing leverage slightly by year-end.
- Higher provisioning for cancellations and contingencies was noted, impacting financial results.
Good morning, and thank you all for holding. Welcome to Even's earnings call concerning the results of the first quarter of 2026. (Operator Instructions)
We would like to inform you that this event is being recorded and will be made available on the company's Investor Relations website, ri.even.com.br, where the complete material concerning this earnings call will be available. It is also possible to download this presentation by way of the chat icon in both Portuguese and English. (Operator Instructions)
We would like to clarify that any statements that might be made during this teleconference regarding Even's business prospects as well as its operating and financial projections and goals are based on the beliefs and assumptions held by the company's management and on information currently available. Forward-looking considerations are not a guarantee of performance and involve risks, uncertainties and assumptions since they refer to future events and therefore, depend on circumstances that may or may not happen. Investors should understand that general economic conditions, industry
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