Even announces its 4Q14 results

Even posts record receivables from clients of R$2.5 billion, with cash generation of R$98.5 million in 2014

São Paulo, March 10, 2015 - Even Construtora e Incorporadora S.A. - EVEN (Bovespa: EVEN3), with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais and focus on residential developments with unit value above R$250,000 announces its results of the fourth quarter of 2014 (4Q14). Except where stated otherwise, the consolidated financial and operating information herein is presented in Brazilian real (R$).

Net income of R$252 million in 2014;

36 projects delivered in 2014 with PSV of R$2.3 billion, Even‘s share (considering sales price at the time of launch);

Cash generation of R$98.5 million (ex-dividends and share buyback) in 2014;

Gross margin (ex-financing) stood at 34.6% in 2014, 1.2 p.p. up on 2013;

• Accounts receivable from clients totaled R$2.5 billion in 2014;

We reached 100% of the share buyback program initiated in February 2014, after the acquisition of 5.1 million shares in 4Q14 and 409,100 shares in early 1Q15.

In order to download the 4Q14 Earnings Release, please click here.

Even, aiming to ensure the fair disclosure of its results, also invites for the Conference Call:

Conference Call in Portuguese with simultaneous translation into English

March 11, 2015

10:00 a.m. (New York time)
11:00 a.m. (Brasília time)
2:00 p.m. (London time)

Phone: +1 516 3001066
Code: EVEN

Replay: +55 11 3127 4999
Code: 17825967
Webcast: Click here

2014Participants are requested to connect 15 minutes prior to the schedule.

Replay: A conference call replay facility will be available until March 18h, 2015

In order to access the replay, dial mentioned numbers above.

Cordially,

Dany Muszkat
CFO and IRO

Ivan Bonfanti
IR Manager

IR Contact:
Phone: +55 11 3377-3777
Fax: +55 11 3377-3780
E-mail:ri@even.com.br
www.even.com.br/ir