Moscow, August 30, 2021 — PIK, the leading Russian residential developer, today announces its unaudited Consolidated Financial Statements prepared in accordance with IFRS for the 6 months ended June 30, 2021.
1H2021 Financial Highlights:
- Total revenue increased by 36.6% to RUB 189.3 billion (1H2020: RUB 138.5 billion)
- 74% of the revenue can be attributed to revenue from sale of real estate (1H2020: 77%), and 26% — to revenue from other operations (1H2020: 23%)
- Gross profit margin amounted to 24.3% (1H2020: 25.2%);
- EBITDA amounted to RUB 91.9 billion (1H2020: RUB 27.5 billion);
- Adjusted EBITDA increased by 38.8% to RUB 35.9 billion (1H2020: RUB 25.8 billion);
- Net income for the period amounted to RUB 69.4 billion (1H2020: RUB 18.0 billion);
- Adjusted net income increased by 52.4% to RUB 23.6 billion (1H2020: RUB 15.5 billion);
- Corporate net debt as of June 30, 2021 amounted to RUB 11.8 billion (December 31, 2020: negative net debt of RUB 27.7 billion).
Full version of the Consolidated Financial Statements, prepared in accordance with IFRS, for 6 months ended June 30, 2021 can be found under the following link.