RNI ANNOUNCES 3Q18 RESULTS
São José do Rio Preto, November 7, 2018: RNI Negócios Imobiliários S.A. (B3: RDNI3, Bloomberg RDNI3:BZ), announces its results for the third quarter of 2018 (3Q18).
- Launch of Green Life São Marcos, a project under Bracket 3 of the program My House, My Life (MHML), with 320 units and total PSV of R$63 million, marking RNI’s return after five years without any launches under the program;
- In 3Q18, net sales grew 33% compared to 2Q18. In 9M18, cancellations decreased 19% compared to 9M17, with a monthly average of R$11 million;
- Expansion of the landbank destined for MHML projects by acquiring two lots located in the Midwest and signing an option agreement for a lot in São Paulo, which combined represent potential sales value (PSV) of R$424 million;
- General and administrative expenses were R$10.1 million in 3Q18, down 5% from 2Q18. In the year to date, G&A expenses were R$17.5 million, 37% lower than in 9M17;
- The financial restructuring supported a significant increase in net financial income for the year, which came to R$10.8 million, compared to R$1.1 million in 9M17;
- Bolstered by the non-recurring recognition of the sale of a lot, net income in 3Q18 was R$2.7 million. In the year to date, the net loss was 75% lower than in 9M17
- 3Q18 marks the seventh straight quarter of cash generation, which amounted to R$18 million in the year. The Net debt/Equity ratio ended the quarter at 32.2% (-7p.p. vs. 3Q17)
Click here to access the Earnings Release
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)
November 8th, 08:00 am EST
Brazil: + 55 (11) 3127-4971
USA and Other Countries: (+1) 929-378-3440
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 November 8th through November 15th. For access, please dial +55 (11) 3127-4999, and type the conference code for the replay in English: 47361910 or Portuguese: 30314336 or access our IR website at www.ri.rni.com.br.
Phone: 55 (11) 2505-7676