PIK GROUP REPORTS 2016 CONSOLIDATED FINANCIAL RESULTS AND PORTFOLIO VALUATION SUMMARY

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PJSC PIK Group / Annual Financial Report 
PIK GROUP REPORTS 2016 CONSOLIDATED FINANCIAL RESULTS AND PORTFOLIO 
VALUATION SUMMARY 
 
18-Apr-2017 / 11:21 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 REPORTS 2016 CONSOLIDATED FINANCIAL RESULTS AND PORTFOLIO 
VALUATION SUMMARY * 
 
Moscow, April 18 , 2017 - PIK Group (LSE: PIK), ('The Group' or 'PIK'), the 
leading Russian residential developer, today announces its audited 
Consolidated Financial Statements prepared in accordance with IFRS and 
Valuation Report in respect of the portfolio of its properties for the year 
ended December 31, 2016. 
 
*Corporate events occurred in the reporting period:* 
 
In December 2016, PIK acquired 'Morton' group of companies for 11.7 billion 
rubles Acquired assets have been fully operationally integrated into the PIK 
Group. Construction and sales are realized under the joint PIK brand. 
 
During 2016 PIK also purchased a number of other assets in the form of land 
plots, fixed assets and companies providing maintenance services of real 
estate. 
Taking into account these acquisitions the Group became a leader in the 
construction industry of the Russian Federation. 
 
The total income from the acquisitions amounted to 7.9 billion rubles due to 
utilization of favorable market environment for the transactions. 
 
*2016 Financial Highlights:* 
 
- Total revenue increased by 17.5% to RUB 60.1 billion (2015: RUB 51.1 
billion); revenue from sale of apartments increased by 25.8% to RUB 54.0 
billion (2015: RUB 42.9 billion); 
 
- Adjusted EBITDA decreased by 16.5% to RUB 11.4 billion (2015: RUB 13.7 
billion). Adjusted EBITDA margin amounted to 19.0% (2015: 26.8%); 
 
- Net profit for the year increased and amounted to RUB 20.5 billion 
(2015: RUB 11.4 billion); 
 
- Gross profit margin amounted to 30.9% (2015: 34.5%). Gross profit margin 
in the Real Estate Development segment amounted to 31.9% (2015: 38.9%); 
 
- Cash flow from operations before acquisition of development rights and 
prepayments for development rights increased by 97.2% to RUB 28.3 billion 
(2015: RUB 14.4 billion). Net cash flow from operations increased by 104.4% 
to RUB 18.8 billion (2015: RUB 9.2 billion); 
 
- Net debt as at December 31, 2016 amounted to RUB 40.7 billion (2015: 
negative net debt RUB (3.9) billion); 
 
- Transfers of apartments to customers increased by 24.8% to 608 th. square 
meters (2015: 487 th. square meters). 
 
*2016 Development Portfolio Valuation Summary:* 
 
- As of December 31, 2016, total net selling area amounted to approximately 
12.5 million square meters (5.5 million as of December 31, 2015) 
 
- The market value of the property portfolio increased 115.9% to RUB 217.1 
billion (RUB 100.6 billion as of December 31, 2015) 
 
- The market value per square meter decreased by 5.6% to RUB 17.35 thousand. 
 
*Sergei Gordeev, President and Chairman of the Management Board, said:* 
 
'In 2016, the PIK Group took many successive steps to implement its 
strategy. We have achieved good results for all key performance indicators 
and this year we will continue to increase financial and operational 
efficiency of the company. Due to the acquisition of new assets, the Group 
became the leader in terms of the volume of construction in Russia. Our task 
is to reach the next, better level of operational results in 2017'. 
*** 
*Additional documents:* 
The Audited Consolidated Financial Statements, prepared in accordance with 
IFRS, for the year ended December 31, 2016 can be found under the following 
link: 
http://pik-group.com/investors/financial-statements/2016 [1] 
 
*Conference Call Dial-In Details: * 
 
PIK Group's Management will host a conference call for investors and 
analysts followed by a Q&A session. 
 
Date: Tuesday, April 18, 2017 
Time: 15:00 Moscow / 13:00 London / 8:00 New York 
Title: PIK Group 2016 IFRS Results 
Main Conference ID (Russian line): 1258902 
Secondary Conference ID (English line): 8474994 
Domestic line: [phone] 
UK international tel.: [phone] 
 
*Enquiries:* 
 
*PIK Group * 
 
_Investors_                     _Media_ 
 
Polina Kurshetsova              Natalia Mikhna 
Tel: [phone] ext. 3785 Tel: [phone] 
E-mail: [e-mail]               E-mail: [e-mail] 
 
*Notice to readers* 
 
_The calculation of certain measures used in this announcement may be 
different from the calculation used by other companies and therefore 
comparability may be limited. Some of the measures (e.g. EBITDA, adjusted 
EBITDA, net debt) are not measures of financial performance under IFRS. _ 
 
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:         [phone] 
Fax:           [phone] 
E-mail:        [e-mail] 
Internet:      www.pik-group.ru 
ISIN:          US69338N2062, RU000A0JP7J7 
WKN:           A0MSSL 
Listed:        Foreign Exchange(s) London, Moscow 
Category Code: ACS 
TIDM:          PIK 
Sequence No.:  4072 
 
End of Announcement EquityStory.RS, LLC News Service 
 
565217 18-Apr-2017 
 
 
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April 18, 2017 05:22 ET (09:22 GMT)