Lavvi (LAVV3) posted net sales of BRL 233.1 million in Q1, up 43% year-on-year

Lavvi (LAVV3) reported net sales of R$233.1 million in the first quarter of 2023 (1Q23), a growth of 43% compared to the first quarter of 2022 (or +60% of Lavvi’s share).

In turn, velocity of sale (VSO) reached 13% for the quarter and 53% over the trailing 12 months.

Launches totaled BRL 436.1 million between January and March this year, an increase of 89% compared to the same period in 2022, reflecting the opening of a residential tower at the Eden Park by Dror (Eden) project in March 2023 , in which Lavvi has a 45% stake.

There were cancellations of R$17.6 million, representing 20 units, of which 13 units were already sold during the quarter.

Inventories totaled R$1.5 billion in Q1 23 with only 1.2% being finished inventories.

The Landbank (Landbank) reached the value of R$ 4.0 billion (100% view).

Cash generation for the first quarter of 2023 totaled R$10 million (or a R$38 million generation on the extraterrestrial view).

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