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PIK Group

October 11, 2018

PIK Group 9M2018 trading update

MOSCOW, October 11, 2018 — PIK Group, the leading Russian residential real estate developer, released today its trading update for the nine months ended September 30, 2018 (9M2018).

9M2018 key operational highlights:

·                                 New sales contracts to customers increased by 6.4% to 1 309 th sqm

 

(9M2017: 1 231 th sqm).

 

·                                 Value of new sales contracts to customers increased by 10.1% to RUB 139.6 billion (9M2017: RUB 126.8 billion).

·                                 Total cash collections increased by 15.2% to RUB 156.3 billion (9M2017: RUB 135.6 billion).

 

 Cash collections from sale of real estate increased by 16.6% to RUB 147.9 billion (9M2017: RUB 126.8 billion).-
 Cash collections from construction services and other operations decreased by 4.5% to RUB 8.4 billion, (9M2017: RUB 8.8 billion) or 5.4% of total cash collections.-

·                                 In 9M2018, PIK put on sale 12 new projects compared to 10 new projects in 9M2017.

·                                 In 9M2018, PIK put on sale 72 new buildings compared to 76 new buildings in 9M2017. 1 808 th sqm were launched to the market, up 10.8% year-on-year (9M2017: 1 633 th sqm).

·                                 Completions decreased by 6.9% to 853 th sqm (9M2017: 917 th sqm), which is completely in line with current construction schedule.

·                                 Share of mortgage sales reached 65% in 9M2018.

Sergei Gordeev, President and Chairman of the Management Board, said:
«Strong operational results and their positive dynamics for the first 9 months of 2018 allow us to fully reiterate previously announced guidance for the full year sales contracts and cash collections. We continue to actively work to further improve the efficiency of the company and to increase the supply of high-quality product in the housing market. In the third quarter of 2018 alone, we launched sales of 10 new projects and 36 new buildings.»

2018 Outlook

PIK Group intends to maintain a leading position in the residential real estate market and provides the following guidance for 2018:

·                                 Total new sales to customers between the range of 1.7 — 1.9 million sqm

·                                 Total cash collections of RUB 180 — 200 billion

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