In This Article:
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Total Gross Sales: BRL574 million in Q4 2024; BRL2 billion for the year, 33% increase from 2023.
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Helbor's Share of Sales: 56% of total sales.
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VSO (Sales Velocity): 20.5% in Q4 2024; 52% for the year.
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New Developments Launched: Three in Q4 2024 with a PSV of BRL50 billion, 80% Helbor's share.
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Cash Generation: BRL263 million in Q4 2024; BRL135 million for the year.
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Net Debt Over Shareholders' Equity: 56%, a reduction from the end of 2023.
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Land Bank: BRL11.5 billion, with 40% in Sao Paulo.
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Contracted Sales Increase: 35% increase from Q4 2023 to Q4 2024.
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Total Inventory: BRL2.4 billion, with 97% in the Southeast region.
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Deliveries in 2024: Almost BRL2 billion, with 91% of units sold.
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Debt Management: 50% of total debt is self-liquidating.
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Net Debt Reduction: From 70% in Q4 2023 to 56% in Q4 2024, a decrease of 13.2 percentage points.
Release Date: March 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Helbor Empreendimentos SA (BSP:HBOR3) reported a 33% increase in total gross sales for 2024 compared to 2023, reaching BRL2 billion.
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The company successfully launched three new developments in Q4 2024, contributing to a PSV of BRL50 billion, with 80% belonging to Helbor's share.
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Helbor achieved a significant reduction in leverage, with net debt over shareholders' equity decreasing to 56% by the end of 2024.
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The company's land bank is valued at BRL11.5 billion, with a strong concentration in Sao Paulo, aligning well with client offerings.
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Helbor's cash generation was robust, with BRL263 million generated in Q4 2024 and BRL135 million for the entire year, indicating strong financial health.
Negative Points
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Despite the positive sales performance, Helbor faced challenges with high interest rates and labor scarcity, impacting operational efficiency.
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The company continues to deal with legacy inventory issues from 2015-2016, although this is nearing resolution.
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Helbor's strategy to launch fewer developments in 2024 may limit growth opportunities in a competitive market.
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The company anticipates a challenging year ahead due to macroeconomic conditions, which could affect future performance.
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There is no immediate plan to increase the percentage of net profit distributed to shareholders, as the focus remains on deleveraging.
Q & A Highlights
Q: Congratulations on your results. We saw an expressive improvement in the backlog margin of the company, increasing by 3.2 percentage points. Can you detail the factors that contributed to this improvement? Also, could you discuss the perspectives for launches in 2025? A: The increase reflects the launches during the third and fourth quarters and the sales backlog. The sales accumulated over this time, enhancing the backlog margin's representativeness. Projects from previous years were smaller, explaining the 3.2 percentage point increase. Regarding 2025 launches, we have many interesting possibilities but remain attentive to the market. We will continue to be disciplined and strategic in our launches, considering macroeconomic conditions.