NEW YORK--(BUSINESS WIRE)--
Casas Javer, a leader in the development and sale of housing in Mexico, has reported notable financial results for the first quarter of 2024, marking a strong start to the year. In a challenging economic environment, Javer has achieved significant progress, highlighting a double-digit growth trend in its main indicators, including a 15% increase in gross profit and a 25.2% rise in EBITDA compared to the same period last year.
The company has achieved these results thanks to a strategy focused on optimizing its product mix and maximizing profitability. In the first quarter, net income amounted to 92.6 million pesos, representing an increase of 55.2% compared to the first quarter of 2023, demonstrating the effectiveness of its management and operational tactics.
Despite an 11.7% decrease in units sold, due to improvements in the product mix, Javer has continued to reorient its offering towards higher-value units, resulting in a 16.2% increase in the average selling price, nearing the milestone of 800,000 pesos per unit. This strategy has enabled it to increase its margins and enhance the quality of its real estate portfolio, increasingly orienting it towards the residential segment, which now represents a more significant part of its revenue.
René Martínez, CEO of Javer, underscored the importance of these results in the context of the company's long-term goals. "We began 2024 with operational continuity and outstanding financial stability," commented Martínez. He added that these results reflect the strength and resilience of the company's business model, even in the face of macroeconomic challenges and the electoral processes that often complicate the acquisition of permits and approvals.
Furthermore, the company has maintained its commitment to sustainability, highlighted by obtaining EDGE certification for 1,051 homes in the quarter, demonstrating its dedication to responsible and efficient construction. This focus not only contributes to a reduced environmental impact but also offers its clients more efficient and economically sustainable homes in the long term.
In summary, the first-quarter results of Casas Javer tell a success story that combines solid operational execution with a conscious and future-oriented business strategy. With a strong financial base and a balance with sustainability, Javer once again positions itself as an undisputed leader in the Mexican real estate market.
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