Gafisa S.A. reported consolidated and company sales results for the fourth quarter and year ended December 31, 2013. On company basis, basis, for quarter launches totaled BRL 1.6 billion, an increase of 224.9% compared to third quarter of 2013, and 8.7% versus fourth quarter of 2012. Fourth-quarter 2013 consolidated pre-sales totaled BRL 1.3 billion, an increase of 206.0% compared to third quarter of 2013, and 45.0% versus fourth quarter of 2012.

For the full year 2013, launches totaled BRL 2.9 billion, a decrease of 2.2% compared to 2012. The volume launched is within the annual guidance range of BRL 2.7 to BRL 3.3 billion. Sales from launches represented 60% of the total, while sales from inventory comprised the remaining 40%.

Fourth-quarter 2013, on consolidated pre-sales totaled BRL 1.3 billion, an increase of 206.0% compared to third quarter of 2013, and 45.0% versus fourth quarter of 2012.

On consolidated basis, Sales from launches represented 60% of the total, while sales from inventory comprised the remaining 40%.