Viver Announces its 4Q14 Results

São Paulo, March 31th, 2015 - Viver Incorporadora e Construtora S.A. (BM&FBOVESPA: VIVR3) announces its operating and financial results for 4Q14

Highlights:

  • Mortgage transfer process exceeded R$228 million in 2014 and cash generation totaled R$59 million.

  • Proven reduction in general and administrative expenses, which follow a downward trend and is and will remain at an annualized level of less than R$35 million.

  • Focus on project execution. The Company delivered 3 projects in 4Q14, totaling 10 projects delivered in 2014, equivalent to 2,636 units and a PSV of R$529 million (Viver's share).

  • Viver expects to deliver 10 projects over the next 12 months, adding approximately R$303 million to performing receivables and R$110 million to completed inventory.

  • Gross sales amounted to R$32.9 million in 4Q14, totaling R$148.9 million for the year. Net sales were R$15.3 million in 2014.

  • Conclusion of the Raposão land sale, with a consequent decrease of approximately R$130 million in corporate debt and the execution of an option for the sale of the Parque do Carmo land for the amount of R$35 million, which will allow the amortization of the debt linked to the asset.

  • Rollover of approximately R$160 million in corporate debt in 2014, adjusting the amortization flow to the receivable transfer schedule.
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