Cyrela and EzTec release balance sheets for 4Q21 and the financial statements for 2021

Cyrela has a net profit of R$218 million

Cyrela Brazil Realty S.A. Empreendimentos e Participações, which works with the development of residential projects, announced that it got R$218 million in net income in 4Q21, with cash generation of R$ 100 million in the period.

In comparison with 4Q20, net income decreased 16.7% and considering the end of 2021, the profit was 48% lower than that recorded in 2020, closing 2021 at R$914 million.

In 4Q21, Cyrela launched 17 projects, closing at a volume of R$2,555 million, 11% lower than that recorded in 4Q20 (R$2,873 million). The highlights of the period were the launches of Le Jardin Cyrela by Yoo, in Pinheiros, São Paulo, and Living Wish Norte, in Rio de Janeiro.

According to the balance sheet, in 2021, the General Sales Value launched was 22% higher than 2020, totalling R$7.1 billion in 54 projects. Gross margin reached 34.8% in 2021, 2.8 p.p. above the previous year, and net income for the year closed at R$ 914 million.

EzTec reports the highest net profit since 2015

The company ended 2021 with R$430 million in net income, a positive variation of 6.1% compared to 2020 and the highest recorded since 2015. In 4Q21, EzTec closed with R$72.4 million in net income, down 48% from the same period in 2020.

According to the balance sheet, 2021 represented the resumption of more significant volumes of deliveries from projects launched in 2018. Eight projects were delivered in total, totalling 2,380 units and R$ 854 million in PSV, most of which were above 95% sold. During the year, R$ 1.91 billion worth were launched in new projects, closing the 20-21 biennium with an accumulated amount of R$ 3.1 billion.

The management report highlights that 4Q21 was the best quarter of sales since the beginning of the impacts from the Covid-19 pandemic.