According to the report submitted to the BMV, Javer specializes in the development of entry-level housing, middle-income housing, and residential housing, as well as in the sale of commercial lots in its own developments. It has presence in the states of Nuevo Leon, Jalisco, Queretaro, Aguascalientes, State of Mexico, Tamaulipas, Quintana Roo, and Guanajuato; in the latter, the Company opened a subdivision during 2019 that is managed by the Queretaro office. It is currently marketing its second residential and vertical development in Mexico City. The homes developed by the Company are divided into three segments based on price:
- Affordable entry-level housing, which is housing priced at less than $300,000.
- Middle-income housing, which is housing priced between $300,000 and $850,000.
- Residential housing, which is housing priced above $850,000
2020 was a year with many highs and lows caused by the COVID-19 pandemic. The Company, specializing in affordable entry-level, middle-income, and residential housing, managed to deed 14,302 units, representing a decrease of 9.0% compared to the 15,716 units sold in 2019.
Fourth quarter 2020 net revenues increased 5.4% compared to fourth quarter 2019, thanks to a 10.8% increase in average sales price derived from an improved housing mix.
In addition, a total of 8 new projects were opened in 2020 in 6 different states.
The company reported net income of $139.7 million pesos for the 12 months of 2020, a big increase from the $8.5 million earned in 2019.
During the first quarter of 2021, CEO Rene Martinez commented "The financial and operating results of this first quarter are in line with what we expected for the beginning of this year, maintaining the positive trend observed during 2020, thus, achieving another quarter with growth and reaffirming the optimal mix of our products in the face of the current market conditions.”
The company had a better-than-expected first quarter of 2021, managing to deed a total of 3,434 homes sold, representing an increase of 1.8% compared to the 3,372 units in the same period of 2020. This result was thanks to the continuity of operations and the ease of acquiring new customers through media. These sales represented 60% of total units sold.
A relevant point is that the average selling price increased 7.4% in 2021 compared to the first quarter of the previous year, which caused the company's margins to increase significantly.
Net revenues increased 9.4% versus the same quarter last year, due to volume growth and an improved sales mix in the middle-income and residential segments.
EBITDA grew 30.9%, derived from savings in fixed selling and administrative expenses.
Net income was $16.1 million, representing a significant recovery from the net loss of $11.9 million in the first quarter of 2020, due to higher revenues and lower expenses.
The second quarter of 2021 was likewise a triumph for Javer; "Improved product mix has generated higher revenues, while tight control over SG&A expenses caused SG&A expenses to decrease 150 and 206 bps versus the second quarter and six-month period, respectively," said René Martínez, the company's CEO.
Housing developer Javer sold 3,453 units, an increase of 7.7% compared to the second quarter of 2020.
Net revenues grew 24.4% to $2,033.5 million during 2Q21, compared to $1,634.7 million in the second quarter of 2020, driven by increased volume and improved sales mix in the middle-income and residential segments.
EBITDA increased 28.5% to $320.8 million in the second quarter of 2021 compared to $249.7 million in the second quarter of 2020. This is due to the control of fixed administrative and selling expenses.
Javer also inaugurated the opening of two new housing projects in Nuevo Leon and the State of Mexico. The company expects revenue and EBITDA growth in the range of 3% to 5% and positive cash generation.
