RODOBENS ANNOUNCES 4Q17 RESULTS
São José do Rio Preto, March 15, 2018: RNI Negócios Imobiliários S.A. (BM&FBovespa: RDNI3, Bloomberg RDNI3:BZ), announces its results for the fourth quarter and year of 2017 (4Q17).
- Cash Generation: R$179 million in 2017, versus cash burn of R$103 million in 2016;
- Inventory Reduction: Total PSV in inventory (excluding launches) of R$334 million in 4Q17, down 44% (R$264 million) from 4Q16;
- Debt: amortization of R$389 million in debt, as follows: i) Corporate debt: R$117 million, and ii) Production debt: R$272 million. The Net Debt/Equity ratio stood at 34.3%, down 18.9 p.p. from 2016;
- Streamlinings of structure: reduction in structural expenses (cost of technical team, G&A and commercial), from R$137 million in 2016 to R$88 million* in 2017;
In addition to meeting the targets, other highlights included:
- Resumption of Launches: 3 projects launched with combined PSV of R$199 million;
- Net Sales: R$294 million in 2017, up 10% from 2016;
- Inventory turnover ratio (VSO): 20% in 4Q17, up 10 p.p. from the quarterly average of 10% in 9M17. The inventory turnover ratio for launches stood at 36%.;
*Excluding non recurring expenses
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This document is also available on our IR website: www.ri.rni.com.br and www.cvm.gov.br
Conference call in Portuguese and Webcast (with simultaneous translation into English)
March 16th, 10:00 am EST
Brazil: + 55 (11) 3127-4971 or +55 (11) 3728-5971
USA and Other Countries: (+1) 516-300-1066
Slides and Webcast: The presentation slides will be available for reading and download from our investor relations website. The audio of the conference call will be transmitted live at our IR website.
Replay: The recorded audio of the teleconference will be available for replay from March 16th through March 23th. For access, please dial +55 (11) 3127-4999, and type the conference code for the replay in English: 62415911 or Portuguese: 53474962 or access our IR website at www.ri.rni.com.br.
Phone: 55 (11) 2505-7677