PIK GROUP 2018 Trading Update - новости ПИК от 22 января 2019
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22 января 2019

PIK GROUP 2018 Trading Update

MOSCOW, January 22, 2018 — PIK Group, the leading Russian residential real estate developer, released today its trading update for the twelve months ended December 31, 2018 (2018).

2018 key operational highlights:

  • New sales contracts to customers increased by 5.6% to 1,941 th sqm

(2017: 1,839 th sqm).

  • Value of new sales contracts to customers increased by 10.9% to RUB 210.6 billion (2017: RUB 189.9 billion).
  • Average retail selling price of real estate increased by 5.5% to 108,896 RUB per sqm.
  • Total cash collections increased by 20.4% to RUB 245.0 billion (2017: RUB 203.4 billion).
    • Cash collections from sale of real estate (including collections to the escrow accounts) increased by 17.0% to RUB 221.1 billion (2017: RUB 189.1 billion).
    • Cash collections from construction services and other operations increased by 66.9% to RUB 23.9 billion, (2017: RUB 14.3 billion).
  • In 2018, PIK put on sale 13 new projects compared to 11 new projects in 2017. In 2018 PIK Group entered two new regional markets — Yekaterinburg and Tyumen.
  • In 2018, PIK put on sale 102 new buildings compared to 99 new buildings in 2017.
  • In 2018, 2,503 th sqm were launched to the market, up 16.8% year-on-year (2017: 2,143 th sqm).
  • Completions decreased by 3.8% to 1,980 th sqm (2017: 2,059 th sqm). Completions of social infrastructure amounted to 82 th sqm. Completions of parking amounted to 5 380 parking units.
  • Share of mortgage sales reached 65% in 2018.

Commenting on the results, Sergei Gordeev, PIK Group’s President, said:
«2018 was a successful year for the Company. Strong operational figures and their positive dynamics are fully in line with our forecasts announced earlier. The company has entered 2 new regional markets — Yekaterinburg and Tyumen. In October, we were the first company to conclude the largest transaction in Russia on project financing using escrow accounts. During the year, the Company has completed 10 social infrastructure objects with a capacity for more than 5,000 people and delivered apartments to more than 35,000 customers. Due to the implementation of proprietary IT solutions for automatization and digitalization, we have achieved a significant acceleration and optimization of business processes. New customer satisfaction data collection platform launched this year allowed us to improve client experience and service, as well as product and construction quality. In 2019, the company will continue to actively work to further improve efficiency and increase the supply of high-quality housing provided with all the necessary social infrastructure.»

2019 Outlook

  • PIK Group intends to maintain a leading position in the residential real estate market and provides the guidance for 2019 maintaining the levels of 2018:
    • Total new sales to customers between the range of 1.7 — 1.9 million sqm
    • Total cash collections of RUB 200 — 220 billion