RNI ANNOUNCES 4Q18 RESULTS
São José do Rio Preto, March 14, 2019: RNI Negócios Imobiliários S.A. (B3: RDNI3, Bloomberg RDNI3:BZ), announces its results for the fourth quarter of 2018 (4Q18).
- The fourth quarter registered the highest launch volume of the year, of R$183 million. In 2018, launches amounted to R$323 million, up 62% on the prior year. The My Home My Life (MHML) program accounted for 55% of total launches;
- Lowest volume of cancellations in any year since the IPO, of R$144 million in 2018, down 17% form 2017;
- Expansion of landbank allocated to MHML projects in 2018 with the acquisition/optioning of 10 phases/projects in the South, Southeast, Midwest and Northeast regions with combined potential sales value (PSV) of R$1.7 billion;
- Adjusted Gross Margin of 29.1% in 2018, expanding 13.4 p.p. from 2017;
- General and administrative expenses amounted to R$40.9 million in 2018, representing a reduction of 36%, or R$23.2 million, from 2017;
- The restructuring of leverage led the Net Debt (Ex-Production Debt) / Equity ratio to end the year at negative 1.8%, compared to positive 2.4% at the end of 2017;
- Net Financial result in the year of R$13.8 million, compared to R$2.0 million in 2017, reflecting the debt management efforts made by the company;
- Net loss improves by 72%, or R$67.1 million, to end the year at R$26.1 million;
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)
March 15th, 09:00 am EST
Brazil: + 55 (11) 3127-4971 or 3728-5971
USA and Other Countries: (+1) 929-378-3440 or 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 15th through March 22th. For access, please dial +55 (11) 3127-4999, and type the conference code for the replay in English: 94777322 or Portuguese: 33846984 or access our IR website at www.ri.rni.com.br.
Phone: 55 (17) 2137-1874