Cyrela Brazil Realty S.A. Empreendimentos e Participações (CYRBY) Q4 2024 Earnings Call Transcript

Cyrela Brazil Realty S.A. Empreendimentos e Participações (OTCPK:CYRBY) Q4 2024 Earnings Conference Call March 21, 2025 10:00 AM ET

Company Participants

Raphael Horn – Chief Executive Officer
Miguel Maia Mickelberg – Chief Financial and Investor Relations Officer

Conference Call Participants

Pedro Lobato – Bradesco BBI
Elvis Credendio – BTG
Fanny Oreng – Santander
Ygor Altero – XP
Tainan Costa – UBS
André Mazini – Citibank
Carla Graca – Bank of America
Rafael Rehder – Safra
Mariangela de Castro – Itaú BBA
Jorel Guilloty – Goldman Sachs
Marcelo Motta – JPMorgan

Operator

Good morning, ladies and gentlemen, and welcome to Cyrela Brazil Realty S.A.’s Fourth Quarter of 2024 Earnings Call. Today with us are Mr. Raphael Horn, CEO; and Mr. Miguel Mickelberg, CFO and IRO.

This call is being recorded and simultaneously translated into English. [Operator Instructions] You can also find the slide deck in English on the company’s Investor Relations website at www.ri.cyrela.com.br. [Operator Instructions]

We would like to inform you that any statements that may be made during the call related to Cyrela’s business perspectives, operating and financial targets are projections made by the company’s management that may or may not occur. Investors should understand that political, macroeconomic and other operating factors may affect the future of the company and lead to results that differ materially from those expressed in such forward-looking statements.

To open Cyrela’s 4Q ’24 Earnings Call, I’d like to turn it over to Mr. Raphael Horn, CEO. Mr. Horn, you may proceed.

Raphael Horn

Good morning.

We finished 2024 with operating and financial results that surpassed Cyrela’s historical landmarks, thanks to excellent execution. Despite the sectors unfavorable macroeconomics bringing deteriorating expectations and asset prices in the second half of the year, the company grew in launches, resilience in sales and margins, in addition to positive generation.