PJSC PIK Group
PIK GROUP FY 2016 Trading Update
PJSC PIK Group / Statement re
MOSCOW, January 18, 2017 – PIK Group (LSE: PIK) released today its trading update for the twelve months ended December 31, 2016 (FY2016). The operational and financial data are based on management assessment only and have not been reviewed by external auditors.
FY2016 key operational highlights: – Total cash collections increased by 47.2% to RUB 101.2 billion (2015: RUB 68.7 billion). – Cash collections from sale of real estate increased by 58.9% to RUB 87.4 billion (RUB 55.0 billion). – Cash collections from construction services and others increased by 0.4% to RUB 13.8 billion (2015: RUB 13.7 billion) – New sales contracts to customers increased by 52.0% to 950 th. sqm. – In 2016, PIK Group put on sale 12 new projects, the same amount as in 2015. In 4Q2016 alone 7 new projects were put on sale, which contributed to the increase in sales in 4Q2016 – In 2016, 63 new buildings were put on sale, (2015: 50 new buildings). – New sellable area in the buildings put on sale increased by 27.4% to 1 158 th. sq. meters (2015: 909 th. sq. meters). – Share of mortgage-backed sales reached 50.0% in 2016.
– 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 Sergey Gordeev, PIK Group’s President commented: ‘In 2016 PIK has demonstrated record growth by all indicators. The acquisition of Morton Group was a new important step for the evolution of PIK Group. The synergies from combining the two largest real estate companies opens great opportunities for business growth. In 2017, we plan to become the industry leader in terms of operational results and market capitalization, develop the most beautiful and innovative homes and significantly improve the quality of client services.’ Table 1 – Cash collections summary
* Increase of new sales to customers in December was due to a larger number of new projects put on sale (total of 6 new projects were put on sale) and doesn’t include sales in Morton’s projects which amounted to 40 th. sq. meters) Table 5 – New sales contracts to customers by region
Table 6 – Pre-sales launches summary table
Enquiries:
Some of the information in this press release may contain guidance, projections or other forward-looking statements regarding future events or the future financial performance of PIK Group. You can identify forward-looking statements by terms such as ‘expect,’ ‘believe,’ ‘anticipate,’ ‘estimate,’ ‘intend,’ ‘will,’ ‘could,’ ‘may’ or ‘might,’ or the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. PIK Group does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in PIK Group’s projections, guidance or forward-looking statements, including, among others, general economic and market conditions, PIK Group’s competitive environment, risks associated with operating in Russia, rapid market change, and other factors specifically related to PIK Group and its operations.
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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: | STR – – |
TIDM: | PIK |
Sequence No.: | 3763 |
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