PJSC PIK Group
PIK GROUP 1Q 2017 Trading Update
PJSC PIK Group / 1st Quarter Results
MOSCOW, April 24, 2017 – PIK Group (LSE: PIK), the leading Russian residential developer, released today its trading update for the three months ended March 31, 2017 (1Q2017). The operational and financial data are based on management assessment only and have not been reviewed by external auditors. 1Q2017 key operational highlights: – Total cash collections increased by 118.9% to RUB 44.9 billion (1Q2016: RUB20.5 billion). – Cash collections from sale of real estate to individuals increased by 127.6% to RUB 39.3 billion (1Q2016: RUB 17.3 billion). – Cash collections from construction services and others increased by 72.1% to RUB 5.6 billion (1Q2016: RUB 3.3 billion) – New sales contracts to customers increased by 86.3% to 380 th. sqm. – In 1Q2017, PIK launched 16 new projects compared to 14 new projects in 1Q2016. – New sellable area in the buildings put on sale increased by 40.9% to 379 th. sq. meters (1Q2016: 269 th. sq. meters). – Share of mortgage-backed sales reached 55.0% in 1Q2017. Sergei Gordeev, President and Chairman of the Management Board, said: ‘High operational performance of the first quarter reflects the increased business scale of PIK Group in the light of acquisitions made last year, and proper diversification of the company’s portfolio of projects in the segment of comfort class housing. During this year we plan to further accelerate our business growth rates and increase market share in the key segments and regions of presence.’ 2017 Outlook – PIK Group intends to maintain a leading position in the residential real estate market and provides the following guidance for 2017: – Total new sales to customers between the range of 1.7 – 1.9 million sq. m – Total cash collections of RUB 190 – 200 billion Table 1 – Cash collections summary
Table 2 – New sales contracts to customers
Table 3 – New sales contracts to customers by region
Table 4 – Pre-sales launches summary table
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Language: | English |
Company: | PJSC PIK Group |
19 bld 1 Barrikadnaya Street | |
123242 Moscow | |
Russia | |
Phone: | +7 (495) 505 97 33 |
Fax: | +7 (495) 229 90 11 |
E-mail: | ir@pik.ru |
Internet: | www.pik-group.ru |
ISIN: | US69338N2062, RU000A0JP7J7 |
WKN: | A0MSSL |
Listed: | Foreign Exchange(s) London, Moscow |
Category Code: | QRF |
TIDM: | PIK |
Sequence No.: | 4086 |
End of Announcement | EquityStory.RS, LLC News Service |