MOSCOW, October 5, 2017- PIK Group (LSE: PIK), the leading Russian residential developer, released today its trading update for the nine months ended September 30, 2017 (9M2017). The operational and financial data are based on management assessment only and have not been reviewed by external auditors. 

9M2017 key operational highlights:

·       Total cash collections increased by 113.4% to RUB 144.9 billion (9M2016: RUB 67.9 billion).

               -           Cash collections from sale of real estate to individuals increased by 115.9% to RUB 126.8 billion (9M2016: RUB 58.7 billion).

               -           Cash collections from construction services and others increased by 97.4% to RUB 18.1 billion (9M2016: RUB 9.1 billion)

·       New sales contracts to customers increased by 94.8% to 1 231 th. sqm.
(9M2016: 632 th. sq. meters).

·       In 9M2017, 76 new buildings were put on sale compared to 33 new buildings in 9M2016.

-       New sellable area in the buildings put on sale increased by 153.6% to 1 633 th. sq. meters (9M2016: 644 th. sq. meters).

·       In 9M2017, PIK Group put on sale 10 new projects compared to 4 new projects in 9M2016

·       Completions increased by 131.6% to 917 th. sqm. (9M2016: 396 th. sqm.)

·       Share of mortgage-backed sales reached 59% in 9M2017.

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

Commenting on the operating results, Sergei Gordeev, President of PIK Group, said:

"In the third quarter of 2017 PIK retained positive dynamics of all operational indicators. Consistent high results of our activity allow us to reiterate expectations for the year and be confident in the effectiveness of the company's chosen development strategy. "

Enquiries:

PIK Group