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PJSC PIK Group / Statement re
PIK GROUP FY 2016 Trading Update
18-Jan-2017 / 15:54 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*PIK GROUP FY 2016 Trading Update*
MOSCOW, January 18, 2017 - PIK Group (LSE: PIK) released today its trading
update for the twelve months ended December 31, 2016 (FY2016). The
operational and financial data are based on management assessment only and
have not been reviewed by external auditors.
*FY2016 key operational highlights:*
- Total cash collections increased by 47.2% to RUB 101.2 billion (2015: RUB
68.7 billion).
- Cash collections from sale of real estate increased by 58.9% to RUB 87.4
billion (RUB 55.0 billion).
- Cash collections from construction services and others increased by 0.4%
to RUB 13.8 billion (2015: RUB 13.7 billion)
- New sales contracts to customers increased by 52.0% to 950 th. sqm.
(2015: 625 th. sq. meters).
- In 2016, PIK Group put on sale 12 new projects, the same amount as in
2015. In 4Q2016 alone 7 new projects were put on sale, which contributed to
the increase in sales in 4Q2016
- In 2016, 63 new buildings were put on sale, (2015: 50 new buildings).
- New sellable area in the buildings put on sale increased by 27.4% to 1 158
th. sq. meters (2015: 909 th. sq. meters).
- Share of mortgage-backed sales reached 50.0% in 2016.
*- *
*2017 Outlook*
*- *PIK Group intends to maintain a leading position in the residential real
estate market and provides the following guidance for 2017:
- Total new sales to customers between the range of 1.7 - 1.9 million sq. m
- Total cash collections of RUB 190 - 200 billion
*Sergey Gordeev, PIK Group's President commented:*
'In 2016 PIK has demonstrated record growth by all indicators. The
acquisition of Morton Group was a new important step for the evolution of
PIK Group. The synergies from combining the two largest real estate
companies opens great opportunities for business growth. In 2017, we plan to
become the industry leader in terms of operational results and market
capitalization, develop the most beautiful and innovative homes and
significantly improve the quality of client services.'
_Table 1 - Cash collections summary_
*Change *Change,
_(in RUB MM)_ *4Q2015* *4Q2016* , %* *2015* *2016* %*
*TOTAL GROSS *68 *101
CASH *23 220* *33 263* *43.3%* 704* 152* *47.2%*
COLLECTIONS*
_Including:_
*Cash
collections 19 590 28 634 _46.2%_ 54 989 87 378 _58.9%_
from sale of
real estate*
*Cash
collections
from 3 630 4 629 _27.5%_ 13 715 13 774 _0.4%_
construction
services and
others*
_Table 2 - New sales contracts to customers _
_in
'000
sq.
meters_ *4Q2015* *4Q2016* *Change, %* *2015* *2016* *Change, %*
*New
sales
contrac *218* *318* *45.9%* *625* *950* *52.0%*
ts to
custome
rs*
Value
of
retail
contrac
ts for
apartme 20 310 33 386 _64.4%_ 56 550 96 367 _70.4%_
nts and
ground
floors
(in RUB
mn)
_Table 3 - New sales contracts to customers quarterly_
_in '000 sq. meters_ *1Q* *2Q* *3Q* *4Q* *YTD*
*2016* 204 201 227 318 950
*2015* 110 118 178 218 625
*Change, %* _85.5%_ _70.3%_ _27.5%_ _45.9%_ _52.0%_
_Table 4 - New sales contracts to customers in Q4 monthly _
_in '000 sq. meters_ *October* *November* *December** *4Q2016*
*2016* 95 80 143 *318*
*2015* 66 65 87 *218*
_* Increase of new sales to customers in December was due to a larger number
of new projects put on sale (total of 6 new projects were put on sale) and
doesn't include sales in Morton's projects which amounted to 40 th. sq.
meters) _
_Table 5 - New sales contracts to customers by region_
_in '000
sq. *Change,
meters_ *4Q2015* *4Q2016* *Change, %* *2015* *2016* %*
*Moscow* 84 160 _90.5%_ 197 420 _113.2%_
*Moscow 97 127 _30.9%_ 318 410 _28.9%_
region*
*Other 37 31 _(16.2%)_ 110 120 _9.1%_
regions*
*Total* *218* *318* *45.9%* *625* *950* *52.0%*
_Table 6 - Pre-sales launches summary table _
*2015* *2016* *Change*
New sellable area, _000' sqm_ 909 1 158 *27.4%*
*Number of buildings launched for sale* 50 63 *+13*
*Enquiries:*
*PIK Group *
_Investors_ _Media_
Polina Kurshetsova Natalia Mikhna
Tel: +7 495 505 97 33 ext. 3785 Tel: +7 909 913 14 70
E-mail: ir@pik.ru E-mail: pressa@pik.ru
Some of the information in this press release may contain guidance,
projections or other forward-looking statements regarding future events or
the future financial performance of PIK Group. You can identify
forward-looking statements by terms such as 'expect,' 'believe,'
'anticipate,' 'estimate,' 'intend,' 'will,' 'could,' 'may' or 'might,' or
the negative of such terms or other similar expressions. These statements
are only predictions and actual events or results may differ materially. PIK
Group does not intend to or undertake any obligation to update these
statements to reflect events and circumstances occurring after the date
hereof or to reflect the occurrence of unanticipated events. Many factors
could cause the actual results to differ materially from those contained in
PIK Group's projections, guidance or forward-looking statements, including,
among others, general economic and market conditions, PIK Group's
competitive environment, risks associated with operating in Russia, rapid
market change, and other factors specifically related to PIK Group and its
operations.
_This document does not constitute or form part of any offer or invitation
to sell or issue, or any solicitation of any offer to purchase or subscribe
for, any securities of PIK Group, nor shall any part of it nor the fact of
its distribution form part of or be relied on in connection with any
contract or investment decision relating thereto, nor does it constitute a
recommendation regarding the securities of PIK Group._
The EquityStory.RS, LLC Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de/ukreg
Language: English
Company: PJSC PIK Group
19 bld 1 Barrikadnaya Street
123242 Moscow
Russia
Phone: +7 (495) 505 97 33
Fax: +7 (495) 229 90 11
E-mail: ir@pik.ru
Internet: www.pik-group.ru
ISIN: US69338N2062, RU000A0JP7J7
WKN: A0MSSL
Listed: Foreign Exchange(s) London, Moscow
Category Code: STR - -
TIDM: PIK
Sequence No.: 3763
End of Announcement EquityStory.RS, LLC News Service
537455 18-Jan-2017
(END) Dow Jones Newswires
January 18, 2017 09:54 ET (14:54 GMT)
