Tenda Announces its Results for the Fourth Quarter and Full Year of 2008

Launches and Contracted Sales total R$ 1.9 billion and R$ 901.0 million, respectively, in 2008 


SAO PAULO, March 10  /PRNewswire-FirstCall/ -- Construtora Tenda S.A. (Bovespa: TEND3), the only residential real-estate developer with exclusive focus on the low-income segment and with its own sales force, announces today its results for the fourth quarter of 2008 (4Q08) and the full year 2008.

Operating and Financial Highlights:

Launches reached R$1.9 billion in 2008, practically stable compared to 2007. Launches of the quarter totaled R$216.4 million.

Pre-sales increased 28.1% y-o-y to R$901.1 million in 2008 from R$703.3 million in 2007. Units sold increased 20.2% reaching 11,429 units. Pre-sales reached R$167.8 million in 4Q08 from R$376.9 million in 4Q07.

Net Operating Revenues rose 79.6% y-o-y, increasing to R$484.9 million in 2008 from R$269.9 million (proforma) in 2007. In the quarter, Net Operating Revenues (proforma) was R$163.0 million for the fourth quarter.

2008 Adjusted EBITDA was a negative R$15.7 million (-3.2% EBITDA margin) - adjusted for R$40.4 million in non-recurring expenses. In this last quarter, adjusted EBITDA totaled R$0.9 million.

In 2008, Tenda had a Net Loss of R$38.2 million. In the fourth quarter, Net Profit was R$13.8 million.

  Backlog of results reached R$345.9 million in 2008, with a 33.1% margin.


  English Conference Call
  March 10, 2009
  08:45 a.m. US EDT
  09:45 a.m. Brasilia Time
  Phone: [phone]
  Code: Tenda

  Portuguese Conference Call
  March 10, 2009
  07:30 a.m. US EDT
  08:30 a.m. Brasilia Time
  Phone: [phone]
  Code: Tenda


DATASOURCE: Construtora Tenda S.A



CONTACT:  Gabriel Macarofq, IR Manager of Construtora Tenda S.A., +55 11

3040-6426, 



Web Site:  http://www.tenda.com.br/ir/ 

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