18 Apr 2016 09:25
PIK GROUP 1Q 2016 Trading Update
MOSCOW, April 18, 2016 - PIK Group (LSE: PIK) released today its trading update for the three months ended March 31, 2016 (1Q2016). The operational and financial data are based on management assessment only and have not been reviewed by external auditors.
1Q2016 key operational highlights:
· Total cash collections increased by 19.8% to RUB 20.5 billion (1Q2015: RUB17.1 billion.
- Cash collections from sale of real estate to individuals increased by 28.9% to RUB 17.3 billion (1Q2015: RUB 13.3 billion).
- Cash collections from construction services and others decreased by 12.8% to RUB 3.3 billion (1Q2015: RUB 3.9 billion)
· New sales contracts to customers increased by 85.5% to 204 th. sqm.(1Q2015: 110 th. sq. meters).
· In 1Q2016, PIK launched 14 new projects compared to 6 new projects in 1Q2015. New sellable area in the buildings put on sale increased by 228.0% to 269 th. sq. meters (1Q2015: 82 th. sq. meters).
· Share of mortgage-backed sales reached 45.0% in 1Q2016 compared to 39.1% in 2015.
Table 1 - Cash collections summary
(in RUB MM) | 1Q2015 | 1Q2016 | Change, % |
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TOTAL GROSS CASH COLLECTIONS (2) | 17 134 | 20 521 | 19.8% |
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Including: |
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Cash collections from sale of real estate | 13 394 | 17 260 | 28.9% |
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Cash collections from construction services activities and others | 3 740 | 3 262 | (12.8%) |
Table 2 - New sales contracts to customers
in '000 sq. meters | 1Q 2015 | 1Q 2016 | Change, % | |
New sales contracts to customers | 110 | 204 | 85.5% | |
Value of retail contracts for apartments and ground floors(in RUB mn) | 9 977 | 19 238 | 92.8% |
Table 3 - Pre-sales launches summary table
1Q 2015 | 1Q 2016 | Change | ||
Number of buildings launched for sale | 82 | 269 | 228,0% | |
New sellable area, 000' sqm | 6 | 14 | +8 |
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 |
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.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of PIK Group, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of PIK Group.