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PIK Group

April 24, 2017

PIK GROUP 1Q 2017 trading update

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.
(1Q2016: 204 th. sq. meters).

·       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

(in RUB MM)

 

1Q2016

1Q2017

Change, %

 

 

 

 

 

 

 

TOTAL GROSS CASH COLLECTIONS (2)

 

20 521

 44 890

118,9% 

 

Including:

 

 

 

 

 

Cash collections from sale of real estate

 

17 260

 39 276

 127,6%

 

Cash collections from construction services activities and others

 

3 262

 5 614

72,1% 

 

 

Table 2 – New sales contracts to customers

in ‘000 sq. meters

 

1Q 2016

1Q 2017

Change, %

New sales contracts to customers

 

204

380

86,3%

Value of retail contracts for apartments and ground floors
(in RUB mn)

 

19 238

38 880

102,1%

 

Table 3 – New sales contracts to customers by region

in ‘000 sq. meters

 

1Q 2016

1Q 2017

Change, %

Moscow

 

78

201

157,7%

Moscow region

 

92

154

67,4%

Other regions

 

34

25

(26,5%)

Total

 

204

380

86,3%

 

Table 4 – Pre-sales launches summary table

 

1Q 2015

1Q 2016

 

Change

Number of buildings launched for sale

269

379

 

40,9%

New sellable area, 000’ sqm

14

16

 

+2

Enquiries: 

PIK Group

Investors

Media

Polina Kurshetsova

Natalia Mikhna

Tel: +7 495 505 97 33 ext. 3785

Tel: +7 909 913 14 70

E-mail: ir@pik.ru

E-mail: pressa@pik.ru

 

 

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