Even Construtora e Incorporadora (EVEN3) BofA Securities Real Estate Conference Presentation summary
Event summary combining transcript, slides, and related documents.
BofA Securities Real Estate Conference Presentation summary
16 Sep, 2026Key financial indicators
Launches totaled R$694 million in 6M26, down 60% year-over-year.
Net sales reached R$408 million in 6M26, a 41% decrease from 6M25.
Adjusted gross margin improved by 7.5 p.p. to 33.4% in 6M26.
Net income dropped 40% to R$77 million in 6M26.
ROE LTM stood at 11.1% in 2T26.
Operational performance
One project delivered in 2T26, totaling R$122 million VGV and 153 units.
Inventory at market value was R$3.5 billion, with 8.3% completed and 91.7% under construction.
80% of 2026 deliveries already sold; luxury/high-end segment dominates inventory.
Landbank valued at R$5.3 billion, with 84% in luxury/high-end segments.
Upcoming launches
Pipeline includes high-end projects in prime São Paulo neighborhoods, with VGVs ranging from R$49 million to R$405 million per project.
Projects in development include ESA Itaim, República do Líbano Moema, Primavera Jardins, Janô Itaim Bibi, and Praça Morungaba Jardins.
Latest events from Even Construtora e Incorporadora
- São Paulo-focused launches lifted margins and sales as the Melnick divestment reshaped reported earnings.EVEN3
Q4 2024 - Melnick exit hit Q3 earnings as São Paulo revenue and margins grew.EVEN3
Q3 2024 - Sales rose 3% and adjusted gross margin reached 35.6%, despite lower net income.EVEN3
Q1 2026 - São Paulo Bay sold 50% at launch as Q3 attributable net income reached R$90m.EVEN3
Q3 2025 - Comprehensive income reached R$81m as cash generation and inventory sales strengthened.EVEN3
Q1 2025 - Q2 sales reached R$737m; adjusted margin excluding Faena was 29.8%.EVEN3
Q2 2025 - H1 revenue fell as margins improved, alongside a R$54.5m project-stake sale.EVEN3
Q2 2026 - Revenue rose 78% as reporting shifted to São Paulo after Melnick’s deconsolidation.EVEN3
Q2 2024 - Record attributable launches and sales supported 14.4% ROE amid a cautious 2026 outlook.EVEN3
Q4 2025