Construction company Tenda narrowed its consolidated net loss to 19.6 million reais in the fourth quarter of last year, after losses of 23.8 million in the previous three months and 155.1 million in the last quarter of 2022, it said. shown a budget published this Thursday.
The Tenda brand, the construction company’s main business, recorded a net profit of 2.9 million reais in the months from October to December 2023, reversing the negative results of both the immediately preceding quarter and the previous year.
Alea, the prefabricated housing division of the construction company, instead saw its losses increase in the period compared to the previous quarter to 22.6 million reais, but slightly lower than in the last quarter of 2022.
The company’s chief financial officer, Luiz Mauricio Garcia, classified 2023 as the “turnaround year” for Tenda, which will continue to focus on the low-income segment this year.
“For 2024, our priority continues to be for Tenda to once again be an example of efficiency and profitability in the social housing segment in Brazil,” the executive said in the earnings report. He also said he plans to make Alea profitable by 2025.
Garcia expressed optimism about the opportunities and challenges arising from the launch of the Future Service Time Guarantee Fund (FGTS) and the regulation of the 1% Special Tax Regime (RET) for projects in the lower end of the construction program housing Minha Casa, My life.
In the fourth quarter, the construction company’s consolidated net revenue increased 19.6% year-on-year to 754.9 million reais.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to R$47.3 in the period, compared to a negative result of R$54.2 million in the last quarter of 2022. The EBITDA margin adjusted it was R$6.3%, from -8.6% annually before.
The group’s net sales totaled a general sales value (PSV) of 842.4 million reais in the quarter, an increase of 25% year-on-year, while launches totaled a PSV of 1.15 billion reais, with an increase of 52.4% in the same comparison, with 21 projects launched in the period.
Source: Terra
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