News
20.05.2015

IN 2014 PIONEER GROUP TRIPPLED REVENUES FROM REAL ESTATE SALES

Pioneer Group has published consolidated financial statements for 2014. KPMG was the auditor.

The company’s revenue in 2014 amounted to 18.55 billion rubles, exceeding the 2013 performance almost three times (6.48 billion rubles). The net profit reached 859.2 million rubles (previous year – 22.8 million rubles.).

EBITDA for the covered period amounted to 1.89 billion rubles against 512 million in 2013. Liquidity improved, the ratio of net debt to EBITDA at the end of 2014 was 2.1 compared to 6.5 at the end of 2013.

The sales of flats in residential complexes in Moscow and St. Petersburg have brought the company12.4 billion rubles. Revenues from the sales of apartments amounted to 2.75 billion rubles, other commercial real estate – 873 million rubles. The services of individual decoration of apartments are in high demand from buyers, which generated the revenue of 1.1 billion rubles. The sales of car spaces have earned the company a little more than one billion rubles.

“Analysis of the key indicators of the company in 2014 shows a number of positive changes. The Group managed to achieve a record revenue growth and significantly improve the performance of the debt burden. In addition, in early May, the company successfully passed the offer on debut bond issue, and long-term project financing has been attracted for all of the major projects of Pioneer Group in Moscow and St. Petersburg,”- said the financial director of Pioneer Group, Andrei Tyutchenko.

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