MOSCOW, January 15, 2019 ¡ª PIK Group, the leading Russian residential real estate developer, released today its trading update for the twelve months ended December 31, 2019 (FY2019).
FY2019 key operational highlights:
¡ñ Value of new sales contracts to customers increased by 6.3% to RUB 223.8 billion (1 836 th sqm) compared to RUB 210.6 billion (1 941 th sqm) in 2018.
¡ñ In addition, as a part of fee development business segment value of new sales contracts to customers amounted to RUB 16.5 billion (120 th sqm)
¡ñ Total cash collections increased by 16.1% to RUB 284.5 billion, compared to RUB 245.0 billion in 2018..:
¡ª Cash collections from sale of real estate (including collections to the escrow accounts) amounted to RUB 225.3 billion.
¡ª Cash collections from construction services and other operations amounted to RUB 59.3 billion.
¡ñ In 2019, PIK put on sale 3 new projects compared to 13 new projects in 2018.
¡ñ In 2019, PIK put on sale 85 new buildings compared to 102 new buildings in 2018.
¡ñ In 2019, 1 841 th sqm were launched to the market, down 26.4% year-on-year (2018: 2 503 th sqm).
¡ñ Completions amounted to 2 024 th sqm (2018: 1 980 th sqm).
¡ñ Share of mortgage sales reached 66% in 2019.
PIK Group will host a conference call for 3Q2019 operational results:
Date: October 15, 2020
Time: 15:00 Moscow / 12:00 London / 07:00 New York
Title: PIK Group FY2019 operational results
Conference ID: 17430138#
Domestic line: +7 495 646 93 15
UK international tel.: +44 20 7194 37 59
Investors: Polina Kurshetsova, Tel: +7 495 505 97 33 ext. 3785, E-mail: email@example.com
Media: E-mail: firstname.lastname@example.org
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.