MOSCOW, October 15, 2019- PIK Group, the leading Russian residential real estate developer, released today its trading update for the nine months ended September 30, 2019 (9M2019).
9M2019 key operational highlights:
• Value of new sales contracts to customers increased by 11.8% to RUB 156.1 billion (1 289 th sqm) compared to RUB 139.6 billion (1 309 th sqm) in 9M2018.
• In addition, as a part of fee development business segment value of new sales contracts to customers amounted to RUB 10.7 billion (79 th sqm)
• Total cash collections increased by 27.9% to RUB 199.9 billion, compared to RUB 156.3 billion in 9M2018.
− Cash collections from sale of real estate (including collections to the escrow accounts) amounted to RUB 154.9 billion.
− Cash collections from construction services and other operations amounted to RUB 45.0 billion.
• In 9M2019, PIK put on sale 2 new projects compared to 12 new projects in 9M2018.
• In 9M2019, PIK put on sale 62 new buildings compared to 72 new buildings in 9M2018.
• In 9M2019, 1 393 th sqm were launched to the market, down 23.0 % year-on-year (9M2018: 1 808 th sqm).
• Completions amounted to 1 202 th sqm (9M2018: 853 th sqm).
• Share of mortgage sales reached 65% in 9M2019.
PIK Group will host a conference call for 3Q2019 operational results:
Date: October 15, 2019
Time: 16:00 Moscow / 14:00 London / 09:00 New York
Title: PIK Group 3Q2019 operational results
Conference ID: 8047230
Domestic line: +7 495 646 9190
UK international tel.: +44 330 336 9411
Investors: Polina Kurshetsova, Tel: +7 495 505 97 33 ext. 3785, E-mail: firstname.lastname@example.org
Media: E-mail: email@example.com
PIK has been operating in the market since 1994 and specializes in sales of affordable housing. Since its inception, the company has built about 23 million sqm of residential real estate. Since 2007, PIK is present on the stock market. The company adheres to best international standards of corporate governance. By the decisions of the Government of the Russian Federation PIK is included in the list of strategic enterprises of the Russian economy.