Moscow, March 22, 2021 — PIK, the leading Russian residential developer, today announces its audited Consolidated Financial Statements prepared in accordance with IFRS for the year ended December 31, 2020.
2020 Financial Highlights:
- Total revenue increased by 35.5% to RUB 380.2 billion (2019: RUB 280.6 billion), of which 77% can be attributed to revenue from sale of real estate (2019: 83%), and 23% — to revenue from other operations (2019: 17%)
- Revenue from sale of real estate increased by 26.3% to RUB 294.6 billion (2019: RUB 233.3 billion). Revenue from other operations increased by 80.9% to RUB 85.6 billion (2019: RUB 47.3 billion);
- Gross profit margin amounted to 27.4% (2019: 27.0%); Gross profit margin from sale of real estate recognized under historical value amounted to 31.6%;
- EBITDA increased by 67.1% to RUB 112.0 billion (2019: RUB 67.0 billion). EBITDA margin increased to 29.5% (2019: 23.9%);
- Net income for the period increased by 91.7% to RUB 86.5 billion (2019: RUB 45.1 billion);
- Corporate net debt as of December 31, 2020 amounted to negative RUB 27.7 billion (December 31, 2019: negative net debt of RUB 1.9 billion).
Full version of the Consolidated Financial Statements, prepared in accordance with IFRS, for 12 months ended December 31, 2020 can be found under the following link.
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On March 22, 17:00 Moscow time PIK will host a Capital Markets Day where the company’s CEO Sergei Gordeev and top management will present financial results for 2020, share forecasts for 2021, and also discuss the company's strategy.
To participate please register.
Enquiries:
PIK Group
Investors: Polina Kurshetsova, Tel: +7 495 505 97 33 ext. 3785, E-mail: [email protected]
Media: E-mail: [email protected]