MOSCOW, July 14, 2017 - PIK Group (LSE: PIK), the leading Russian residential developer, released today its trading update for the six months ended June 30, 2017 (1H2017). The operational and financial data are based on management assessment only and have not been reviewed by external auditors. 

1H2017 key operational highlights:

·       Total cash collections increased by 125.9% to RUB 94.4 billion (1H2016: RUB41.8 billion).

               -           Cash collections from sale of real estate to individuals increased by 131.4% to RUB 82.7 billion (1H2016: RUB 35.7 billion).

               -           Cash collections from construction services and others increased by 93.4% to RUB 11.7 billion (1H2016: RUB 6.1 billion)

·       New sales contracts to customers increased by 90.4% to 771 th. sqm.
(1H2016: 405 th. sq. meters).

·       In 1H2017, 52 new buildings were put on sale compared to 22 new buildings in 1H2016.

-       New sellable area in the buildings put on sale increased by 170.7% to 1080 th. sq. meters (1H2016: 399 th. sq. meters).

·       In 1H2017, PIK Group put on sale 5 new projects compared to 2 new projects in 1H2016

·       Completions increased by 114.5% to 399 th. sqm. (1H2016: 186 th. sqm.)

·       Share of mortgage-backed sales reached 57.0% in 1H2017.

2017 Outlook

·       PIK Group intends to maintain a leading position in the residential real estate market and provides the following guidance for 2017:

               -           Total new sales to customers between the range of 1.7 – 1.9 million sq. m

               -           Total cash collections of RUB 190 - 200 billion

Enquiries:

PIK Group