This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gafisa Group Reports Results For 4Q12 And 2012

Gafisa S.A. (Bovespa: GFSA3; NYSE: GFA), Brazil’s leading diversified national homebuilder, has reported financial results for the fourth quarter and full year ended December 31, 2012.

Fourth quarter and full year financial results can be found on the Company’s website ( and with the Brazilian Comissao de Valores Mobiliarios (CVM).
  • Gafisa Group unit deliveries increased 43% y-o-y to 9,378 in 4Q12
  • 2012 unit deliveries increased 20% y-o-y and exceeded the upper end of full-year guidance
  • Consolidated free cash generation was positive at R$381 million in 4Q12
  • Operational consolidated cash flow reached R$1.04 billion in 2012, exceeding the upper end of increased full-year guidance of R$600 – R$800 million
  • Launches reached R$2.95 billion, in line with the upper end of guidance, while sales totaled R$2.63 billion in 2012
  • Consolidated sales velocity reached 20% in 4Q12, or 25% ex-Tenda

Duilio Calciolari, Chief Executive Officer, said: “Gafisa’s 2012 operational results exceeded guidance set in the turnaround strategy as we successfully executed significant structural and operational changes. Our main objective for the year was to generate cash through the delivery of units. I am pleased to report that operational consolidated operational cash flow of R$1.04 billion surpassed the increased 2012 guidance range set in the third quarter of R$600-800 million.”

“Operating results, as indicated in the preview published in January 2013, are not yet all reflected in the financial statements as margins continue to be impacted by the resolution of legacy projects and structural changes made to restore profitability. We expect to conclude the delivery of the Gafisa segment projects launched in non-core markets in 2013 and the majority of the remaining Tenda projects in 2013, with a small number slated for early 2014. The successful implementation of corrective measures, including the appointment of divisional executive officers responsible for improved profitability, has positioned the Company for long-term profitable growth.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.10%
FB $117.52 0.68%
GOOG $694.26 0.47%
TSLA $240.80 -2.80%
YHOO $36.66 0.19%


Chart of I:DJI
DOW 17,778.54 -52.22 -0.29%
S&P 500 2,063.56 -12.25 -0.59%
NASDAQ 4,771.9090 -33.3820 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs