Moscow, August 28, 2015 - PIK Group (LSE: PIK), (“The Group” or “PIK”), one of the leading Russian residential developers, today announces its unaudited Consolidated Financial Statements prepared in accordance with IFRS, for the 6 months ended June 30, 2015.
1H2015 Financial Highlights:
- Total cash collections increased by 10.0% to RUB 30.0 billion (1H2014: RUB27.3 billion);
- New sales contracts to customers increased by 4.6% to 228 th. sqm.
(1H2014: 218 th. sq. meters);
- Total revenue decreased by 23.0% to RUB22.1 billion (1H2014: RUB28.6 billion). Revenue from sale of real estate decreased by 25.3% to RUB18.6 billion
(1H2014: RUB24.9 billion);
- Transfers of real estate to customers decreased by 30.8% to 191,000 square meters (1H2014: 276,000 square meters);
- Gross profit margin amounted to 39.4% (1H2014: 26.0%);
- Adjusted EBITDA increased by 19.3% to RUB7.1 billion (1H2014: RUB5.9 billion). Adjusted EBITDA margin amounted to 32.0% (1H2014: 20.7%);
- Net profit for the year amounted to RUB4.1 billion
(1H2014: RUB1.5 billion);
- Free cash flow increased amounted to to RUB3.6 billion (1H2014: RUB1.8 billion);
- Net debt as of June 30, 2015 decreased by RUB3.9 billion to RUB6.3 billion (December 31, 2014: RUB10.2 billion);
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Additional documents:
The Consolidated Financial Statements, prepared in accordance with IFRS, for 6 months ended June 30, 2015 can be found under the following link:
https://pik-group.com/investors/financial-statements/2015/
Conference Call Dial-In Details:
PIK Group’s Management will host a conference call for investors and analysts followed by a Q&A session.
Date: Monday, August 31, 2015
Time: 12:00 Moscow / 10:00 London / 5:00 New York
Title: PIK Group 1H2015 IFRS Results
Conference ID (Russian line): 5320487
Domestic line: +7(495) 705-94-50
UKinternational tel.: +44 20 3427 1915
Enquiries:
PIK Group
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Investors |
Media |
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Polina Kurshetsova |
Natalia Mikhna |
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Tel: +7 495 505 97 33
ext. 1315 |
Tel: +7 495 505 97 33
ext. 1403 |
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E-mail: ir@pik.ru |
E-mail: pressa@pik.ru |
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