MRV Engenharia Announces Its 4Q07 and FY07 Results
BELO HORIZONTE, Brazil, March 12 /PRNewswire-FirstCall/ -- MRV Engenharia e Participacoes S.A. (Bovespa: MRVE3), Brazil's largest real estate developer and homebuilder in the low-income residential segment, announces today its results for the fourth quarter and full year of 2007. The Company recorded operating revenue of R$160.9 million in the quarter and R$441.4 million in the year, 176.7% up on 2006. The gross margin stood at 42.4% in the 4Q07.
The main quarterly highlights included PSV of R$513.2 million from the launch of 4,531 units, 255.7% up year-on-year. Contracted sales came to R$249.8 million, 30.8% more than in the previous quarter and 330.2% up on the 4Q06. In annual terms, contracted sales moved up 247.7%. The Company's land bank totaled R$10.4 billion on February 29, 2008, 62.0% higher than on October 31, 2007. The adjusted EBITDA margin stood at 24.3% in 2007, 8.3 p.p. up on the year before. Adjusted net income totaled R$45.4 million in the 4Q07, accompanied by an adjusted net margin of 35.2%. Annual adjusted net income totaled R$107.7 million. MRV continues to expand geographically and was present in 56 cities in February 2008, according to the Company's own figures.
The Company will hold its 4Q07 results conference call on Thursday, March 13 in Portuguese and English. In order to view MRV's disclosure documents and find out how to access the calls, please visit our Investor Relations website: www.mrv.com.br/ri. First Call Analyst:
CONTACT: Investor Relations, +55-31-3348-7171, ri@mrv.com.br Web site: http://www.mrv.com.br/ri
2008-03-12 20:41:00 0311361 PRNEWSWIRE
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