3Q2012 Trading Update

(LONDON, October 16 2012) - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, is pleased to publish today a trading update for nine months ended September 30, 2012 based upon management accounts.

9M2012 key highlights:

For a full version please see PDF attached.

Enquiries:
Investors
PIK Group                               Tel: +7 495 505 97 33 ext. 1358 / 1315
Viktor Szalkay

Media
Natalia Ivanova                         Tel: +7 495 505 97 33 ext. 1010 /1014

• PIK enjoyed another quarter of consistent growth, building on the Group’s positive performance in 1H2012
• Total net cash collections up by 32.3% to RUB 41.6 billion (9M11: RUB 31.4 billion);
  • Cash collections from sale of apartments to individuals rose 50.3 % to RUB 29.4 billion (9M11: RUB 19.5 billion) driven by sales price growth and volume growth;
  • Cash collections from construction services remained steady at RUB 9.2 billion (9M11:RUB 9.0 billion);
• PIK launched 30 new projects of which 24 are in its core Moscow Metropolitan Area (MMA);
• New sales contracts to customers were up to 439,000 sq. meters (9M11: 343,000 sq. meters), up by 28% y-o-y driven by underlying fundamental demand for affordable housing;
  • 3Q12 new sales contracts to customers reached 169,000 sq. meters, which were 48% higher than those of previous year and 19% higher than in 2Q12; PIK has demonstrated sales growth in every quarter of 2012
• 3Q12 mortgage backed sales were slightly up to 29.0% of total sales

For more details: 3Q2012 trading update