All news

PIK GROUP reports 1H2020 consolidated financial results

Moscow, August 31, 2020 — PIK Group, the leading Russian homebuilder, today announces its unaudited Consolidated Financial Statements prepared in accordance with IFRS for the six months ended June 30, 2020.

1H2020 Financial Highlights:

  • Total revenue increased by 33,7% to RUB 138.5 billion (in 1H2019 — RUB 103.6 billion), of which 77% can be attributed to revenue from sale of real estate (in 1H2019 — 87%), and 23% — to revenue from other operations (in 1H2019 — 13%)
  • Revenue from sale of real estate recognized under historical value increased by 28.2% to RUB 79.8 billion (in 1H2019 — RUB 62.3 billion). Revenue from sale of real estate recognized under fair value decreased by 2.6% to RUB 27.2 billion (in 1H2019 — RUB 27.0 billion);
  • Gross profit margin amounted to 25.2% (in 1H2019 — 20.0%). Gross profit margin from sale of real estate amounted to 26.7% (in 1H2019 — 20.4%); Gross profit margin from sale of real estate recognized under historical value amounted to 30.0%;
  • EBITDA increased by 81.4% to RUB 27.5 billion (in 1H2019 — RUB 15.1 billion). EBITDA margin amounted to 19.8% (1H2019: 14.6%);
  • Net income for the period increased by 87.1% amounted to RUB 18.0 billion (in 1H2019 — RUB 9.6 billion);
  • Corporate net debt as of June 30, 2020 amounted to negative RUB 21.9 billion (as of December 31, 2019 — negative corporate net debt of RUB 3.7 billion).

Additional documents:

The Consolidated Financial Statements, prepared in accordance with IFRS, for 6 months ended June 30, 2020 can be found under the following link


Enquiries:

PIK Group

Investors: Polina Kurshetsova, Tel: +7 495 505 97 33 ext. 3785, E-mail: ir@pik.ru

Media: E-mail: media@pik.ru