Q2 2024 PDG Realty SA Empreendimentos e Participacoes Earnings Call (English, Portuguese) Transcript
Key Points
- PDG Realty SA Empreendimentos e Participacoes achieved a 72% reduction in financial losses in the first half of 2024 compared to the previous year.
- The company recorded a 60% reduction in net loss in the half-yearly comparison.
- Net sales increased by 140% in the first half of 2024 compared to the same period in 2023.
- General, administrative, and commercial expenses were reduced by 10% in the half-yearly comparison.
- A capital increase of BRL114 million was approved, which is expected to aid in the company's deleveraging efforts.
- Despite improvements, the company still faces a significant amount of debt, which could impact future financial flexibility.
- The number of units transferred in the first half of 2024 decreased compared to the same period in 2023.
- The company's inventory increased by 27% compared to Q2 2023, which may indicate slower sales or overproduction.
- The extended leverage totaled BRL1.9 billion at the end of Q2 2024, showing a 3% increase compared to Q1 2024.
- The market conditions remain challenging, with uncertainties in the stock exchange scenario potentially impacting future performance.
Good morning, ladies and gentlemen. Thank you for waiting. Welcome to PDG conference on result of Q2 and first half of 2024. Here with us, Mr. Augusto Reis, Chief Executive Officer, Chief Financial Officer and Investor Relations Officer.
(Operator Instructions)
Before proceeding, we would like to clarify that any statements that may be given during the conference, forecasts and operation and financial goals, our beliefs and assumptions of the company's management, based on available information.
Considerations about the future are not a guarantee of performance, and they depend on events and circumstances that may occur. Investors should understand the general economic conditions, industry conditions and other operational factors may affect the company's performance and lead to results that differ materially from those expressed in projections.
Now I would like to give floor -- to give the floor to Mr. Augusto Reis that will make the
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