Participants will be hearing the corporation speech, and then we will open for Q&A. Before we move forward, I would like to mention that all the statements that are going to be made during this conference and the businesses of the 2Q, financial statements are all the lease of the institution and based and available. We also have risks involved and assumptions, and depending on the following circumstances that might or might not occur. We also have general conditions of the organization that can affect the development of the organization itself, and also results that are different than what should be implemented. Now I would like to start our presentation itself. Mr. Augusto.
Thank you, Renato. Good morning, ladies and gentlemen. I hope you are well. I would like to thank you for your participation in our 2Q results conference, and we will be talking about the second quarter of the year. Before we move forward to our agenda, I would like to briefly comment about some key points in this first semester and the second quarter. In the last assembly that we had on June 28, we elected two new members of the administrative council, Mr. Luis and Mrs. Natalia. They are independent members. Luis, Gustavo, and Natalia, they have a very wide experience in a high level and blue collar. So they will have a very good contribution considering the recovery and retake of the organization. In the long term, as we've been talking in the last quarters, we have been improving meaningfully the experience of our customers.
The results can be seen in customer satisfaction research and also specialized websites considering consumer manifestations. Our CSAT research has an average level of 85% and can also state that we have a very good satisfaction level of the customer. So we are still having our ESG agenda, and through the third quarter, we will be informing the first ESG report. We also had a credit conversion in actions, assets, as it was foreseen in our recovery plan. As for the credit, we have BRL 439 million, with a private emission of 74.563.882 actions, and the emission of BRL 5.89 per action. We will also be having the assembly for the approval of the asset. As for slide number two, and then the next slide number four, I will be highlighting the period.
In the quarter, we had a VSO of 10.5% at ix. Tatuapé. We also registered a reduction of 36% of the distress in the comparison between the first semester of this year and the last year, comparing the second quarter 2023 and the second quarter 2022. We registered a reduction of 9% in SG&A, and we've had a raw profit adjusted to BRL 20.6 million in the second quarter 2023. Through the presentation, I will be commenting about these results. In June, we also acquired a very important step for the recovery of our launches. We bought land located in a very good region of São Paulo City, approximately 800 sq m. The vision B, BRL 65 million. We are also prospecting, analyzing the buying process of other lands, and we are also in line with our recovery plan.
As for our subsequent events, slide number five, we have got great news. In this month of August, we anticipated the works of ix. Tatuapé that were foreseen for October, and we also started Tapumi. Tapumi has been developed in order to provide a better space for our customers and a space. This is a moment that we need to celebrate, considering all the works that we have been having so far. As I have said, ix. Tatuapé is for medium size. We have 147 units. As for the slide number six, we also have a very good launching. Our next launching will be for the fourth quarter this year for medium income of BRL 100 billion. We also have our launching agenda with a lot of cautious planning.
As for the operational and financial results on slide number eight, we also have the development, the performance of the sales of the organization. Second quarter, our raw sales, BRL 18.3 million, 47%, and we had BRL 37.3 million, 34%. Although we had this comparative reduction, the result is in line with the established milestone. The ix. Tatuapé has been very positive. VSO 10.5%. Although July has been a very good month, we are very optimistic considering the second semester of 2023 with the beginning of the works, and it is going to boost our sales. During the seconde quarter of 2023, the dispatch summit of BRL 14.6 million. Six first months of the year, the dispatch totaled 28.8%, 36%. The dispatch is a very important leverage in order to boost the volume of units available for sales.
The net sales totaled BRL 3.7 million in the second quarter of 2023, 75% below the second quarter of 2022, BRL 8.5 million, 22% below six months 2022. The indicators of the organization sales are the raw sales given our stock. In the first six months, we also had 105 units, BRL 11.2 million reduction of 65% considering the last year. Although the volume has been impacted by the reduction of the sales, the result is in line with the projections of the organization. We are still having a very quick process according to a very cautious credit process. As for the stock, slide number nine, our total had BRL 1.3 billion, registering an increase of 1% in relation to the second quarter of 2022. Our concluded stock registered a reduction of 23% in comparison to the second quarter of 2023. We also have some units that are ready.
Our concluded stock, we had BRL 291.3 million, representing 22% of our whole stock. Considering the stock, we have 44% located in São Paulo, our main market, and 57% for residentials. On slide number nine, we have the general expenses, the administrative and commercial. They were reduced in 7% considering the quarter, and increased 50% considering the semester. That was due to the expense with service providers. Commercial expenses were reduced 11%, in comparison to the quarter, and 23% of the semester comparison. We have a unit, 9% and 5% in the semester comparison. We concluded the quarter with a total of 143 collaborators. On the following slide, number 11, we have the variation of the debts of the organization of our extra commercial debt increased 48%, and BRL 162 million in accumulated of the semester. That was due to the interest rate of the period.
Our commercial debt increased to 43%, and also the new credits for the judicial recovery. Considering the organization, we have amortization of BRL 1.1 billion in commercial debts. We want to improve our process to increase the capital that is going to be working this next semester. That is essential for the acceleration and the leverage of our organization and also in order to fulfill the recovery plan of the organization. On slide number 12, we have the extra commercial debts. We also had this leverage extended to BRL 4.8 billion. Some very important points about this. The balance, BRL 1.3 billion of the commercial debt can also be amortized due to actions. The extra commercial debts are being negotiated and can also be applied to our judicial recovery plan so that we can have a more positive effect. We are still seeking for viable alternatives for the work.
Once we find it, we want to reduce all the debt. Considering the accumulation of the year registered 4% reduction in the total passive. Although we still have got a lot to do, we can observe very positive results. Therefore, slide number 13, we have a demonstration of the results and the effects of the demonstration of the results of the period. We have a raw profit, BRL 19.7 million and BRL 20.4 million according to the reduction of the cost and the reversion for the[inaudible]. We registered a financial loss of BRL 139.9 million, and that is maybe due to the interest rate in the extra commercial debts.
The organization had a BRL 131.8 million loss in comparison to the profit of BRL 350.9 million and BRL 395.9 million, six months, 2022. It is important to emphasize that in 2022, even considering the debts that were extra commercial debts and were issued for our recovery plan, in fact, positively impacted our financial results and we have these two periods. On slide 14 and finishing my presentation, I would like to mention that on August 2, our brand ix. Corretora completed its first year remodeling the way we think and also seeking to simplify the buying process of our customers and also having the purpose. It has been an ongoing development year that is well aligned, and it makes ix. Corretora better.
We are very proud, and it is important to emphasize that even though we had the judicial recovery, the organization are still going through some issues due to pandemic, political issues. Even though we are taking into consideration our board of objectives, we are efficient in order to have better customer experience. We also identified our diversity practices because then we are sure that we can have a foundation above our recovery plan. We know that the business recovery, it is important and flexible. It can be adapted. We also have the quality, we have the transparency and the risk management. It has been essential, everything that we have had. We are then being prepared in order to fulfill PDG issues. Reinforcing our learnings strategies, the ix. PDG is slide number 15.
I would like to share a very curious news that we were elected as a Great Place to Work 2023. In order for us to have this certification and all the challenges that the organization has been facing, we are very proud. We also have some relevant data in order to introduce ix. And GPTW with 90 points of trust index. This indicator is the average of 60 affirmative questions that we conduct. Key acknowledgment points, client, work, teamwork, and collaboration. ix. is in the excellence zone for the education. We also have a diversity and inclusion, 59, and the opening of diversity, our grade is 96 out of 100. This acknowledgment emphasizes our willingness and efforts, which is really good for our team. I would like to finish the presentation, and I open for Q&A.
Thank you, Augusto. We are now going to start questions and answer session. You can send it on the chat. I will start as for the first question that comes from Rogério who asks, good morning. Thank you for your meaningful queries. How are the financing for the project? We also have a second question. Is the company facing difficulties to obtain the funding?
Thank you, Rogério, for your question. Of course, the organization has been consolidating and is very committed to all the passes for the restoration of the organization. However, it is somewhat difficult, considering our financing and the market, but we still have a very positive opening. We've had some financial vehicles, and it's good to have this evolution, I would say.
Even though we are not having access to the traditional lines, we were then able to have the access of some alternative lines as we had our ix. Tatuapé first launching, and this year that we are discussing. Basic assumption of the organization for the funding, ix. Tatuapé, and it's going to be the same for the second one.
Thank you, Augusto. Hi, Bruno, Itaú BBA. Thank you for the presentation. We would like to understand the plans and the territory for the future of launches. How is it going to be the G&A in order to support those launches?
Thank you, Bruno, for your acknowledgment. We have such a victory for this recovery process. The organization has a very important linking and all the territories and locations will be used for the recovery plan. We also have some plans that we have at this, the difficulty of approval.
As I mentioned before, we have a new plan in order to have raw material for our recovery plan. I would say that for 2024, we have all the plans. We have all the plans correctly, and we are also working for 2025. Also for the perspective. As for the D&A, we should not have many increases as if we check out on the numbers, we are stable. The way we have the personnel structure, we believe that all the structuring will be very positive for new launches. We are prepared for the next two years.
Thank you, Augusto. Next question. Cecílio. What does the organization awaits for sales for second semester 2023?
Cecílio, thank you for your question. I confess that the first semester had been very concerning. As we've commented, July has been very positive even though we have a niche improvement which helps us on the market. We have a good expectation, a slightly better expectation, which is in line for the projection of sales. No reductions, but the opposite. We are very optimistic for our last quarter. The reduction of interest rate. We are able to have a signalization of a better scenario.
Thank you. There is a question from João. Does the organization foresee to increase launches for 2024? How is the digital journey in the future of the organization? Congratulations for the results.
Hi, João. For 2024, our expectation is to follow the projection of five years. Not very aggressive, but we want to improve the launching volume.
As for the digital journey, this has been a very strategic plan for the organization. It started back in the pandemic. If we can say that the pandemic brought something positive, then that's it. Today it is a very strategic plan and is the foundation of what we were proposing to do in order to create ix. brand. We understand that in order to buy, we also have a digital journey, and it's quite important for us. It's the fourth year, and I'm pretty sure that we will be in a different level once we evolve it. This is something that we are using. It's very dynamic, and I'm pretty sure that it's going to be the foundation of this work that we have started.
Next question from Sérgio GS. Congratulations for the Great Place to Work. How does the organization think that it can impact from now on for this certification?
First, for us, it is something very important because it's about the perception of our team, considering the whole work that the organization has been conducting in order to have a very healthy environment. We want to be dedicated and as for a recovery organization, even considering the risks, having this certification shows that we are on the right pathway. It's the acknowledgment of our staff. This is extremely important for us. We have been working, and we are very concerned with that because our staff is the foundation of everything. Yes, it is important, and we have an additional tool in order to have better people on the market and also, obviously, to keep our staff. We are very proud for that.
Sérgio has a second question. How are the debts outside the plan, the debts of the organization?
That's very harmful for the demonstration of the results. We know that this is very concerning for the organization and talking with the creditors, it's a very important moment. On the other hand, we have approached it in the recovery process, so we have this whole dynamic defined in order to deal with that. Obviously, we need to have a conversion. As we had last year comparison of the results, the first semester, we can see the difference of an extra commercial debt. There is a trend, and every time it is materialized, we then can improve the scenario, and it's a trend following this flow.
Thank you, Augusto. For those of you who have got questions, you can send on the chat. Last question from Sérgio. Does PDG still with [inaudible]? Or is this arm of the organization?
Yes. We have this intelligence arm, which is our attempt of this tool. All the engineering part of it is under operation, and we have this domain. It has been very important for the organization. A very important result we have our building intelligence tool. It's going to be really good for the organization throughout the time. That's our objective.
No more questions. I will hand over to Mr. Augusto for the final considerations. Even though if you've got any additional questions, please, you can contact us through our email, ri@pdg.com.br. Mr. Augusto, final considerations, please.
Thank you, Renato, for the support and all of you who sent the questions. It is always important to have this exchange, and it's good to know that people are acknowledging our work, our recovery. Once again, we are very proud to have the Great Place to Work. We are on the right pathway. We are very respected, and that's the foundation of our recovery. It is a differential environment, people, respect, transparency, and undoubtedly, that is the foundation for the organization to go through difficult times and the recovery process.
Okay. Thank you very much for your participation, and see you on our next call.
Thank you very much.
PDG results teleconference is finished. Thank you for your participation, and have a great week ahead.