PIONEER announced the publication of consolidated financial statements for 2023.
Revenue and income from the sale of the company's investment property in 2023 amounted to RUB 42.5 billion, which is 75% higher than in 2022.
The growth in the share of premium projects in the revenue structure had a positive impact on the company's gross profitability, which in the reporting period amounted to 30% (in 2022 – 29%). The company also remained at a high level in terms of EBITDA and net profit margins (21% and 5% in 2023 and 20% and 6% in 2022, respectively).
EBITDA for the reporting period amounted to RUB 8.4 billion, showing an increase of 71% compared to the 2022 result. The company’s net profit at the end of 2023 also increased and amounted to 2.2 billion rubles. (1.4 billion rubles for 2022).
“PIONEER finished 2023 confidently, showing growth in revenue and profitability, which was also due to the high stage of construction readiness of the facilities and the growth in the implementation of both residential and commercial projects of the company. The company’s low debt burden and high liquidity provide a sufficient margin of safety for the timely fulfillment of obligations in the future,” said PIONEER CFO Alexandra Solntseva.
In 2023, the company placed two issues of digital bonds for a total amount of RUB 1.1 billion. The developer also confirmed a high credit rating from leading rating agencies ACRA, Expert RA and NKR. High profitability is ensured by increased sales in the company's premium projects HIGH LIFE and PRIDE.
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