Trisul Reports Mixed Q1 2025 Results with Strong Launches Despite Sales Slowdown
Trisul S.A. (TRIS3) a leading Brazilian real estate developer released its operational preview for the first quarter. Analysis from The Rio Times.
tionTrisul S.A. (TRIS3), a leading Brazilian real estate developer, released its operational preview for the first quarter of 2025 on April 10.
The report showed mixed performance as the company navigates challenging market conditions. The report reveals significant project launches despite slower net sales compared to previous quarters.
The company launched two new projects in Q1 2025 with a combined Potential Sales Volume (PSV) of R$456 million ($77.3 million), representing a 50.6% decrease from the R$924 million ($156.6 million) launched in Q4 2024.
These new developments include Elev Park Sacomã Phase 2 with 606 units valued at R$169 million ($28.6 million) and The Collection Vila Mariana with 717 units worth R$287 million ($48.6 million).
Gross sales reached R$339 million ($57.5 million) in Q1, showing a modest 3.3% increase year-over-year. However, cancellations surged to R$46.8 million ($7.9 million), representing a 119.7% increase compared to the same period last year.
This spike in cancellations pushed net sales down to R$292.1 million ($49.5 million), a 4.8% decrease from Q1 2024. The company’s sales velocity, measured by Sales over Supply (SoS), stood at 13.1% for the quarter.
This marks a decline from 14.5% in the same period last year and is significantly lower than the 29.6% achieved in Q4 2024. In addiTrisul sold 627 units during the quarter, a 34.8% increase from Q1 2024 but 34.6% lower than the previous quarter.
Trisul Leverages Robust Landbank Amid Market Headwinds
Trisul maintains a substantial landbank valued at R$4.8 billion ($813.6 million) as of March 31, 2025, positioning the company for future growth despite current market challenges.
The inventory stood at 2,986 units with a total value of R$1.94 billion ($328.8 million) at the end of the quarter. Financial analysts maintain cautious outlooks on Trisul.
The company is forecast to grow earnings by 16.1% annually with EPS expected to increase by 15.8% per year. Return on equity is projected to reach 14% within three years, according to analyst reports.
Trisul will release its complete financial results for Q1 2025 on May 8, followed by a conference call on May 9. The company’s stock closed at R$6.28 ($1.06) on the most recent trading day, representing a 2.94% decrease.
Despite current challenges, Trisul continues to execute its strategic expansion plan with diverse project launches across different market segments.
The company faces headwinds from increased cancellations and slower sales velocity but maintains strong launch momentum and a robust landbank for future development.
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