business performance
Economic and Financial Performance
GRI 201-1, 201-4
The healthy management of the portfolio and deliveries of works within the planned period provided net revenue of R$2,3 billion at the end of the year. In this context, the Net Income reached R$104 million, equivalent to a Return on Equity (ROE) LTM of 5.5%.
At the end of the year, land acquisitions generated a total Operating Cash of R$976 million, with 7% Net Cash on Equity. The Financial Result, in turn, registered a net profit of R$104 million.
Gross Revenue Composition
| Direct economic value generated and distributed (R$ Thousands) | ||||
|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | |
| Direct economic value generated (Revenues) | 1,912,997 | 1,671,020 | 2,275,744 | 2,317,936 |
| Economic value distributed | 1,630,008 | 1,504,193 | 1,916,527 | 1,292,234 |
| Operating costs | 334,770 | 259,002 | 359,217 | 393,714 |
| Employee wages and benefits | -105,666 | -90,519 | -86,402 | -74,262 |
| Payments to providers of capital | -54,837 | -42,152 | -109,922 | -119,100 |
| Payments to government | -95,598 | -125,014 | -41,931 | -56,195 |
| Community investments | 99,504 | 131,826 | 226,536 | 754,363 |
| Economic value retained | 97,661 | 70,537 | 105,784 | 1,025,702 |
| Income Statement | Unit | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Net Operating Revenue | R$ thousands | 1,912,997 | 1,671,020 | 2,275,744 | 2,317,936 |
| Gross Income | R$ thousands | 475,776 | 482,438 | 632,042 | 522,486 |
| Ajusted Gross Margin | % | 30.7% | 31.9% | 29.0% | 24.5% |
| Net Profit | R$ thousands | 119,191 | 14,688 | 231,212 | 104,384 |
| Net Margin before Minority Interest | % | 7.5% | 3.2% | 12.6% | 8.4% |
| Balance Sheet | |||||
|---|---|---|---|---|---|
| Items | Unit | 2019 | 2020 | 2021 | 2022 |
| Total Assets | R$ thousands | 4,983,545 | 5,176,777 | 5,929,910 | 6,698,124 |
| Equity | R$ thousands | 1,877,442 | 2,481,417 | 2,592,338 | 2,727,424 |
| Return on equity (last 12 months) | |||||
| Items | Unit | 2019 | 2020 | 2021 | 2022 |
| ROE LTM | % | 7.2% | 12.6% | 13.0% | 5.5% |
| Debt Breakdown | |||||
| Items | Unit | 2019 | 2020 | 2021 | 2022 |
| Gross Debt | R$ thousands | 1,207 | 453 | 314 | 779 |