20 октября 2016
MOSCOW, October 20, 2016 - PIK Group (LSE: PIK) released today its trading update for the nine months ended September 30, 2016 (3Q2016). The operational and financial data are based on management assessment only and have not been reviewed by external auditors.
9M2016 key operational highlights:
· Total cash collections increased by 49.3% to RUB 67.9 billion (9M2015: RUB 45.5 billion.
- Cash collections from sale of real estate increased by 65.9% to RUB 58.7 billion (9M2015: RUB 35.4 billion).
- Cash collections from construction services and others decreased by 9.3% to RUB 9.1 billion (9M2015: RUB 10.1 billion)
· New sales contracts to customers increased by 55.7% to 632 th. sqm.
(9M2015: 406 th. sq. meters).
· In 9M2016, PIK launched 33 new projects, (9M2015: 32 new projects). New sellable area in the buildings put on sale increased by 5.6% to 644 th. sq. meters (9M2015: 610 th. sq. meters).
· Share of mortgage-backed sales reached 50.0% in 3Q2016.
Table 1 - Cash collections summary
(in RUB MM) | 3Q2015 | 3Q2016 | Change, % | 9M2015 | 9M2016 | Change, % | |
15 510 | 26 080 | 68.1% | 45 484 | 67 889 | 49.3% | ||
TOTAL GROSS CASH COLLECTIONS | |||||||
Including: | 12 379 | 22 997 | 85.8% | 35399 | 58 744 | 65.9% | |
Cash collections from sale of real estate | 3 131 | 3 083 | (1.5%) | 10 085 | 9 145 | (9.3%) |
Table 2 - New sales contracts to customers
in '000 sq. meters | 3Q2015 | 3Q2016 | Change, % | 9M2015 | 9M2016 | Change, % | |
New sales contracts to customers | 178 | 227 | 27.5% | 406 | 632 | 55.7% | |
Value of retail contracts for apartments and ground floors | 16 286 | 24 719 | 51.8% | 36 240 | 62 981 | 73.8% |
Table 3 - Pre-sales launches summary table
9M2015 | 9M2016 | Change | ||
New sellable area, 000' sqm | 610 | 644 | 5.6% | |
Number of buildings launched for sale | 32 | 33 | +1 |
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.
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PIK Group OJSC published this content on 20 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 October 2016 08:53:02 UTC.
Original documenthttp://pik-group.com/media/our-news/all/?news_id=5797
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