Lavvi Empreendimentos Imobiliarios Ltda
BOVESPA:LAVV3
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Lavvi Empreendimentos Imobiliarios Ltda
BOVESPA:LAVV3
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Lavvi Empreendimentos Imobiliarios Ltda
Lavvi Empreendimentos Imobiliários SA engages with the development and construction of residential and non-residential real estate properties. The company is headquartered in Sao Paulo, Sao Paulo. The company went IPO on 2020-09-02. The Firm acts in high standard segment, offering apartments with exclusive services. The firm is a joint venture formed between Cyrela and RH Empreendimentos Imobiliarios Ltda.
Lavvi Empreendimentos Imobiliários SA engages with the development and construction of residential and non-residential real estate properties. The company is headquartered in Sao Paulo, Sao Paulo. The company went IPO on 2020-09-02. The Firm acts in high standard segment, offering apartments with exclusive services. The firm is a joint venture formed between Cyrela and RH Empreendimentos Imobiliarios Ltda.
Launches: Lavvi launched BRL 1.8 billion PSV in 4Q and sold BRL 1.4 billion; notable launches include Casa Cerâmica, Novvo Anália Franco, Zen in Moema and the second phase of Novvo Vila Prudente.
Financials: 4Q net revenue was BRL 530 million (down 8% vs. 4Q'24); full-year revenue rose 14% YoY to a record; adjusted gross margin was 35.5% in 4Q and 37% for the year.
Profitability: Net income was BRL 105 million in 4Q and BRL 414 million for the year (net margin 23.5%); ROE stated at 28%.
Cash & land spending: Company burned BRL 45 million in cash in the quarter (BRL 119 million in the year) driven by land investments; would have generated BRL 372 million excluding land buys; net debt ended at BRL 394 million.
Pipeline & marquee project: Hípica (São Paulo) is the largest upcoming launch: >BRL 1.3 billion PSV and ~1,060 units; management aims to sell ~25% of Hípica by July.
Inventory & deliveries: Backlog grew 19% YoY to BRL 2.8 billion (37.5% margin implied); management is closely monitoring ready inventory (Versace highlighted) and is prepared to adjust price if needed to monetize stock.
Market & construction constraints: Management flagged labor shortages and permit/demolition delays as the main operational headwinds; My Home My Life demand remains strong.
Capital return: First dividend installment scheduled for March 27; company has paid >BRL 1 billion to shareholders since 2021.
