Gafisa S.A. reported preliminary, unaudited operating results for the fourth quarter and year ended December 31, 2015. For the quarter, the company's total launches were BRL 682,905,000 compared to BRL 241,549,000 a year ago. Net consolidated pre-sales totaled BRL 482.6 million during fourth quarter 2015, reflecting an increase of 58.8% year-on-year.

For the year, the company's total launches were BRL 2,085,257,000 compared to BRL 1,636,311,000 a year ago. Despite the challenges faced in the macroeconomic environment, the company reached BRL 1.9 billion in net pre-sales in 2015, an increase of 60.0% year-on-year.