Moscow, December 11, 2014 - PIK Group (LSE: PIK), one of the leading Russian residential developers, announces that PIK’s Board of Directors approved Group’s mid-term strategy for the years 2015-2017.
PIK Group’s main strategic goals:
To become the leading full-cycle developer with a business-model based on contemporary and effective management principles. To be a leader in the mass-market residential housing segment in Russia with a diversified and high-quality land bank.
PIK Group’s strategic objectives for the years 2015-2017:
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To become a leader in terms of quality and cost in the industrial and poured concrete housing construction in Russia.
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PIK Group is creating a fundamentally new industrial housing product. First generation of this product is expected to be launched in 2015, followed by the second generation in 2016 and the third in 2017;
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The upgrade of industrial housing manufacturing facilities at PIK-Industry should be completed by the end of 2015;
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The Group plans to build a new high-performance production facility in New Moscow with the annual manufacturing capacity of 350-400 th.sq. meters of industrial housing;
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An exclusive poured concrete product is being developed, which should become Russia’s benchmark in terms of construction cost, marketing potential, consumer and visual qualities;
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By 2017, the Group targets an equal share (50/50%) of industrial and poured concrete products in the affordable housing construction in the Moscow Metropolitan Area.
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Expand PIK Group’s development business in the most lucrative and fast-growing regions of Russia.
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Increase Group’s market presence in the affordable housing segment in Moscow.
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By 2017, PIK Group should become one of Russia’s leading developers in terms of income from its regional operations. At the same time, 40% of Group’s income should come from projects in Moscow and New Moscow, 35% - from projects in the Moscow region, 25% - from regional projects.
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Land bank diversification and expansion to the level which supports doubling from the current level of EBITDA from development in 2017 and beyond.
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Enhance Group’s performance and competitiveness by applying contemporary corporate management principles.
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Further capitalize on the PIK Group brand by maintaining the reputation of a reliable and socially responsible developer.