Análise dos indexadores de desempenho de incorporadoras imobiliárias na B3 entre 2017 e 2020

Analysis of performance indicators of real estate developers at B3 between 2017 and 2020

Abstract

The civil construction sector is relevant to the national economy, both in terms of its 6.48% share in the Gross Domestic Product (GDP) and in the generation of more than 2.2 million direct jobs, reaching its peak in 2012. The current health crisis caused by the pandemic resulting from Sars-CoV-2 or Covid-19 seems to have aggravated the drop in performance and reduced the sector's share of GDP in 2020 compared to 2019. This work sought to highlight the impact of the current health pandemic on liquidity, profitability and indebtedness of companies in the real estate development sector, listed on the São Paulo stock exchange and also headquartered in the state of São Paulo, comparing the results of nine analyzed indexes, obtained from standardized accounting information available, in relation to calendar years 2017 to 2020. The results were consistent, based on the verified Pearson correlation, using the Kolmogorov-Smirnoff test and the Wilcoxon test. However, due to the limitation of this study, a more detailed examination of macro and microeconomic hypotheses (causes) and their long-term impacts on the analyzed sector (immediate consequences) is necessary, as the pandemic does not seem to have been an obstacle to the evolution of the performance indicators analyzed. , with the sample showing a significant evolution in terms of profitability, with the exception of some companies that already differed from the average in the real estate sector, as they presented extremely negative (and opposite) results to the other companies.