MOSCOW, April 9, 2019 - PIK Group, the leading Russian residential real estate developer, released today its trading update for the three months ended March 31, 2019 (1Q2019).
1Q2019 key operational highlights:
- Value of new sales contracts to customers increased by 14.4% to RUB 50.7 billion (421 th sqm) compared to RUB 44.3 billion (430 th sqm) in 1Q2018.
Total cash collections amounted to RUB 57.0 billion, which is in line with 1Q2018.
- Cash collections from sale of real estate (including collections to the escrow accounts) amounted to RUB 51.1 billion.
- Cash collections from construction services and other operations amounted to RUB 5.9 billion.
- In 1Q2019, PIK put on sale 1 new project compared to 1 new projects in 1Q2018 as well.
- In 1Q2019, PIK put on sale 24 new buildings compared to 21 new buildings in 1Q2018.
- In 1Q2019, 436 th sqm were launched to the market, down 25.7% year-on-year (1Q2018: 587 th sqm).
- Completions amounted to 229 th sqm (1Q2018: 69 th sqm).
- Share of mortgage sales reached 64% in 1Q2019.
PIK confirms the guidance for 2019:
- Total new sales to customers between the range of 1.7 – 1.9 million sqm
- Total cash collections of RUB 200 - 220 billion
PIK Group will host a conference call for 1Q2019 operational results:
Date: April 9, 2019
Time: 17:00 Moscow / 15:00 London / 10:00 New York
Title: PIK Group 1Q2019 operational results
Domestic line: +7 495 646 93 15
UK international tel.: +44 207 194 37 59
Investors: Polina Kurshetsova, Tel: +7 495 505 97 33 ext. 3785, E-mail: firstname.lastname@example.org
Media: E-mail: email@example.com