Direcional Engenharia Sees Growth of 50% in its 2009 Contract Sales

News provided by

Direcional Engenharia S.A.

Mar 25, 2010, 02:27 ET

SAO PAULO, March 25 /PRNewswire/ -- Direcional Engenharia, one of the country's largest developers and builders, ended 2009 with a record in contract sales of R$ 660.7 million and 7,824 units, a growth of 49.7% and 149.7%, respectively, as compared to 2008.

Throughout the year, 9,360 units were launched, a 74.7% higher volume than the 5,359 units launched in 2008. As a result of the focus on large-scale lower-income housing projects (over 1,000 units on the same lot), the average number of launched projects increased from 233 in 2008 to 493 in 2009, a surge of 111.4%.

The higher volume of construction units and the increase in contracted sales resulted in a 43.5% rise in net revenue, which soared from R$ 263.2 million in 2008 to R$ 377.6 million in 2009. Operating profit as measured by EBITDA had an increase of 35.2% totaling R$ 105.8 million, while the adjusted net profit was R$ 85.1 million compared to R$ 64.4 million in 2008.

Direcional Engenharia's release of fourth quarter results and the year 2009 can be accessed at: http://www.globalri.com.br/comum/direcional/DIRR3_release_resultados_4T09_%20E ng_FINAL.pdf

The results teleconference discussing released results will be held on Thursday, at 12:00 p.m. by telephone at (11) 4688-6361 or via Internet at the www.direcional.com.br/ir site.

About Direcional Engenharia:

Direcional Engenharia S.A. is one of Brazil's largest developers and builders, focusing on large-scale lower-income projects primarily in the North and West-Central regions of Brazil. These regions have a large housing deficit and this is where, currently, 63.1% of the company's landbank is concentrated. In 2009, 78.5% of the units launched were geared to the lower-income segment (homes priced up to R$ 130 thousand), as compared to 47.3% in 2008. In 4Q09, 100% of the units launched were geared towards this segment.

Direcional also has its own sales team, Expert Consultoria Imobiliaria, with 270 agents who specialize in the company's products and are located in the cities of Manaos, Brasilia, Belem, Porto Velho, Belo Horizonte and Maraba.

Listed on the new BM&FBovespa stock exchange since November 2009, Direcional shares are traded under the DIRR3 ticker symbol.

    Investor Relations Contact:
    Daniel Amaral - CFO
    Paulo Tropia - IR Manager
    55(31) 3235 - 1502

    Contact:
    For additional information:
    Ester Rossi
    Global IR
    55(11)3254-6710 / 55(11) 8377-0296

SOURCE Direcional Engenharia S.A.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED