21 Jan 2016 14:07
PIK GROUP 2015 Trading Update
MOSCOW, January 21, 2016 - PIK Group (LSE: PIK) released today its trading update for the twelve months ended December 31, 2015. The operational and financial data are based on management assessment only and have not been reviewed by external auditors.
2015 key operational highlights:
· Total cash collections increased by 11.4% to RUB 68.7 billion (2014: RUB 61.7 billion)
- Cash collections from sale of real estate increased by 7.9% to RUB 55.0 billion (2014: RUB 51.0 billion);
- Cash collections from construction services and others were up by 28.0% to RUB 13.7 billion (2014: RUB 10.7 billion);
· New sales contracts to customers stayed flat and amounted to 625 th. sq. meters (2014: 620 th. sq. meters).
· In 2015, PIK put on sale 50 new buildings compared to 43 buildings in 2014. New sellable area in the buildings put on sale rose by 40.8% to 908 th. sq. meters (2014: 645 th. sq. meters)
· Share of mortgage backed sales in 2015 amounted to 39.1% (2014: 36.2%)
Detailed information on key operating results based on management accounts
Table 1 - Cash collections summary
in RUB MM | 4Q2014 | 4Q2015 | Change, % | 2014 | 2015 | Change, % | ||
| ||||||||
TOTAL GROSS CASH COLLECTIONS | 22,523 | 23,220 | 3.1% | 61,666 | 68,704 | 11.4% | ||
Including:
Cash collections from sale of real estate | 19,461 | 19,590 | 0.7% | 50,951 | 54,989 | 7.9% | ||
Cash collections from construction services activities others | 3,062 | 3,630 | 18.5% | 10,715 | 13,715 | 28.0% | ||
Table 2 - New sales contracts to customers
in '000 sq. meters | 4Q 2014 | 4Q 2015 | Change, % | 2014 | 2015 | Change, % | |
New sales contracts to customers | 258 | 218 | (15.5%) | 620 | 625 | 0.8% | |
Value of retail contracts for apartments and ground floors(in RUB mn) | 22,260 | 20,310 | (8.8%) | 54,026 | 56,550 | 4.7% |
Table 3 - Pre-sales launches summary table
2014 | 2015 | Change | ||
New sellable area, 000' sqm | 645 | 908 | 40.8% | |
Number of buildings launched for sale | 43 | 50 | +7 |
PIK Group
Investors | Media |
Polina Kurshetsova
| Natalia Mikhna |
Tel: +7 495 505 97 33 ext. 1315 | Tel: +7 (909) 913 14 70 |
E-mail: ir@pik.ru | E-mail: pressa@pik.ru |
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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.
PIK.L (PIK)