Tenda Achieves R$21.3 Million Profit in Q4 2024, Announces First Dividends Since Recovery
Brazilian construction firm Construtora Tenda S.A. reported a R$21.3 million ($3.55 million) profit for the fourth quarter of 2024.
The company shared these results in a financial report released Wednesday. Tenda successfully reversed the R$19.6 million loss recorded in the same quarter of 2023.
The company’s consolidated net revenue reached R$850.6 million ($141.77 million), growing 12.7% compared to the previous year. This revenue includes both the main Tenda brand and Alea, its prefabricated housing division.
Tenda announced a dividend distribution of R$21 million ($3.5 million) to shareholders. This payment consists of R$15 million ($2.5 million) in mandatory minimum dividends and R$6 million ($1 million) in interim dividends.
The core Tenda brand met all its financial projections for 2024. Alea, however, fell short of expected net sales and adjusted EBITDA targets for the year. The company sold a 6.97% stake in Alea to a fund managed by Good Karma Partners during the quarter.
Tenda’s Strong Performance and Growth Projections
Tenda launched 23 new housing projects in Q4 2024, two more than during the same period in 2023. The total launched value grew significantly to R$1.6 billion ($266.67 million), representing a 39.8% year-over-year increase.
Net sales for the quarter totaled R$984 million ($164 million), rising 16.9% compared to Q4 2023. This performance contributed to Tenda’s record annual net sales of R$4.5 billion ($750 million) for full-year 2024.
The company focuses primarily on affordable housing development through Brazil’s “Minha Casa, Minha Vida” government program. This strategic positioning allows Tenda to capitalize on strong demand for low-income housing across the country.
Looking ahead, Tenda projects continued growth with ambitious targets for 2025. The company forecasts a net profit of up to R$380 million ($63.33 million) for the Tenda brand and R$20 million ($3.33 million) for Alea.
Revenue growth expectations remain strong at approximately 17% annually over the next three years. This projection exceeds the Brazilian Consumer Durables industry forecast of 12% growth during the same period.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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