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Cyrela Brazil Realty SA Empreendimentos e Participacoes
BOVESPA:CYRE3

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Cyrela Brazil Realty SA Empreendimentos e Participacoes
BOVESPA:CYRE3
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Price: 32.54 BRL -7.08%
Market Cap: 12.2B BRL

Cyrela Brazil Realty SA Empreendimentos e Participacoes
Investor Relations

In the vibrant tapestry of Brazil's urban landscape, Cyrela Brazil Realty SA Empreendimentos e Participacoes stands as a cornerstone of real estate innovation and prowess. Founded in 1962 by Elie Horn, Cyrela has blossomed into one of the largest residential real estate companies in Brazil. Its portfolio spans high-end residences to versatile commercial properties, capturing the dynamic essence of Brazilian metropolitan life. The company is headquartered in São Paulo, the beating heart of Brazil's economic activity, and it navigates the complexities of property development with an adept understanding of local market demands, regulatory intricacies, and the unique cultural nuances of each area it serves.

Cyrela's revenue streams are strategically intertwined with key phases of property development and sales. The company primarily generates income through the sale of residential units, which are meticulously designed to meet the varied tastes and needs of its clientele. Additionally, Cyrela embraces joint ventures and partnerships, sharing risks and expanding its reach across different markets. This approach not only diversifies its financial exposure but also solidifies its reputation as a collaborative force in Brazil's real estate sector. By leveraging its expertise in construction efficiency, customer service, and market adaptation, Cyrela continues to sculpt the skylines of Brazil, one innovative project at a time. Through its commitment to quality and strategic flexibility, Cyrela not only builds homes but also lays the foundation for communities, contributing to the fabric of urban life in Brazil.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 14, 2025
AI Summary
Q3 2025

Strong Launches: Launches reached BRL 9.7 billion in the first 9 months of 2025, already surpassing the full-year 2024 volume, with Q3 launches up 19% quarter-on-quarter.

Sales Growth: Free sales grew 19% year-on-year to BRL 6.8 billion from January to September 2025; Q3 sales up 10% quarter-on-quarter.

Solid Financials: Net revenue hit BRL 6.2 billion with a gross margin of 32.7%, and net income reached BRL 1.3 billion year-to-date, all showing year-on-year growth.

Leverage Reduced: Leverage was lowered from 12.7% to 8.2% in Q3, supported by BRL 423 million in quarterly cash generation.

Dividend Outlook: Management is considering a likely extraordinary dividend payment, with a decision expected in December.

Inventory Focus: Inventory reached BRL 15 billion; finished units sales lagged, prompting targeted efforts to accelerate sales in this segment.

Upbeat Vivaz Performance: The Vivaz low-income segment is performing well and is expected to grow its share in upcoming launches.

Cautious but Positive Outlook: Management expects revenue and cash generation to improve in Q4 as delayed revenue is recognized and maintains a disciplined, project-by-project approach.

Key Financials
Launches
BRL 9.7 billion
Free Sales
BRL 6.8 billion
Net Revenue
BRL 6.2 billion
Gross Margin
32.7%
Net Income
BRL 1.3 billion
Adjusted ROE
19.9%
Cash Generation
BRL 423 million
Leverage (Adjusted Net Debt to Equity)
8.2%
SoS (Sales Over Supply, LTM)
50%
Total Inventory (100%)
BRL 15 billion
Finished Units at Market Price (Cyrela's Stake)
BRL 1.7 billion
Delivered Units (Q3)
BRL 2.25 billion
Delivered Units (Year-to-date)
BRL 4.9 billion
Other Earnings Calls

Management

Mr. Efraim Schmuel Horn
Co-President & Board of Executive Officers
No Bio Available
Mr. Raphael Abba Horn
Co-President & Member of the Board of Executive Officers
No Bio Available
Mr. Miguel Maia Mickelberg
CFO, Investor Relations Officer & Member of the Board of Executive Officers
No Bio Available
Mr. Felipe Russo de Almeida Cunha
Member of Board of Executive Officers
No Bio Available
Ms. Rafaella Nogueira de Carvalho Corti
Board of Executive Officers
No Bio Available
Mr. Celso Antonio Alves
Board of Executive Officer
No Bio Available
Ms. Renata Moura
Corporate Director of People
No Bio Available

Contacts

Address
SAO PAULO
Sao Paulo
Rua do Rocio,109,2 andar, Vila Olimpia
Contacts
+551145023153.0
www.cyrela.com.br