Mexico City, Mexico, February 24th, 2022 – Vinte Viviendas Integrales S.A.B. de C.V. (BMV: VINTE), a leading home builder in the development and commercialization of sustainable homes in Mexico, announced its earnings results for the fourth quarter and full year of 2021. The figures in this report are expressed in nominal Mexican pesos and are based on internal non-audited financial statements, they were prepared in accordance with IFRS and current interpretations and may include minor differences due to rounding.
- Vinte achieved a 29.3% total revenue growth in 4Q’21 and 13.9% in the full year, record levels in the history of the Company. EBITDA and Net Income for the period increased 32.7% and 30.9%, respectively compared to 4Q’20. For the full year EBITDA increased 10.9% and Net Income grew 8.2%, compared to the previous year.
- Vinte decreased its Net Debt / EBITDA leverage to 2.82x from 3.50x in 3Q’21, due to the increase in EBITDA, generation of operating cash flow, and a decrease in net debt.
- Net Debt decreased 11.6% compared to 3Q’21. The average debt maturity was 3.6 years. Also, 83% of Vinte’s debt was at a fixed rate and 75% was sustainable.
- In 4Q’21, operating cash flow was 440 million pesos, a quarterly record. Likewise, operating cash flow generated for the full year was 221 million pesos.
- Average price for the fourth quarter of 2021 was 1.1 million pesos, the first time it has been above 1 million pesos in the Company’s history.
- Vinte invested approximately 3,200 million pesos during 2021 in infrastructure, urbanization, acquisition of land reserves, and housing construction. These investments are expected to increase by 16% in 2022 given the solid fundamentals of the housing sector in Mexico.
- As part of the Company’s digital strategy focused on Proptech, Vinte:
- Continued to strengthen its sales through digital media, making up 39% of Vinte’s total sales in 2021, which amounts to more than 5,000 houses in the first 5 years.
- Achieved the first 190 down payments with 100% digital billing in 2021.
- Made the first 3 strategic investments in Technology First companies in early 2022, including a technology platform focused on home rentals, a rent-to-own platform and a digital mortgage granting platform, with the objective of creating shared synergies.
- Started Xante in 2022, Vinte’s own platform under the iBuying concept, focused on the sale of used VINTE housing.
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