PIK anounces IFRS financial results for 6 months ended june 30, 2013 - новости ПИК от 25 сентября 2013
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25 сентября 2013

PIK anounces IFRS financial results for 6 months ended june 30, 2013

(LONDON, September 25 2013) - PIK (LSE: PIK), a leading Russian residential developer, today announces its audited consolidated IFRS financial results for the 6 months ended June 30 2013.

1H13 financial summary:

  • Total revenues were up by 72.4% to RUB25.0 billion (1H12: RUB14.5 billion)
  • Revenues from the sale of apartments grew by 118.9% to RUB20.8 billion (1H12: RUB9.5 billion)
  • Continued cost control lead to 12.5% decrease in administrative and distribution expenses resulting RUB1.4 billion (1H12: 1.6 billion)
  • Gross profit margin reached 28.4% up by 7ppt from 1H12
  • Adjusted EBITDA grew more than three times to RUB6.3 billion (1H12: RUB2.1 billion)
  • Net positive cash flow from operating activities reached RUB4.6billion (1H12: negative net cash flow of RUB0.4billion)
  • Net income amounted to RUB2.6 billion (1H12: loss of RUB0.9 billion)
  • Total assets as of June 30 2013 increased to RUB138.5 billion (December 31 2012: RUB126.5 billion)
  • In line with the Group’s deleveraging strategy and as a result of the successful SPO completed in June 2013, net debt as of June 30 2013 decreased by RUB14.0 billion to RUB22.8 billion (December 31, 2012: RUB36.8 billion)

 

Enquiries:

Investors

PIK Group                                                        Tel: +7 495 505 97 33 ext. 1358 / 1315

 

Media

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

 

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