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PIK Group

August 28, 2015

PIK Group reports 1h2015 Consolidated Financial Results

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); 

***

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:

http://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

 

 

 

Investors

Media

Polina Kurshetsova

Natalia Mikhna

Tel: +7 495 505 97 33
ext. 1315

Tel: +7 495 505 97 33
ext. 1403

E-mail: ir@pik.ru

E-mail: pressa@pik.ru

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