Financial highlights

  • Revenue for 9M 2017 increased by 25% year-on-year to US$142.7 million, including proceeds from the sale of trading properties:

      - Rental and hotel operating income increased by 39% year-on-year to US$85.5 million

      - Revenue generated from AFIMALL City increased by 23% year-on-year to US$59.2 million (9M 2016: US$48.2 million)

      - Sale of residential properties contributed US$57.0 million to total revenue, up 8% year-on-year

  • Gross profit increased by 15% year-on-year to US$44.2 million (9M 2016: US$38.6 million)  
  • Net profit for 9M 2017 amounted to US$0.6 million, compared to a loss of US$55.7 million in 9M 2016
  • Total gross value of portfolio of properties stood at US$1.50 billion at 30 September 2017 (a 1% increase compared to 30 June 2017)
  • Cash, cash equivalents and marketable securities amounted to US$67.7 million as of 30 September 2017 (vs. US$25.5 million at 30 June 2017)

Operational highlights

  • Construction and pre-sales at two recently launched projects, Bolshaya Pochtovaya and Botanic Garden, are progressing to plan. As of 14 November 2017, 48 apartments (26% of Phase I) are pre-sold at Bolshaya Pochtovaya and 78 apartments (10% of Phase I) at Botanic Garden.  
  • At Odinburg, construction and marketing of Building 3 started during Q3 2017. All pre-sold apartments in Building 2 have been delivered to customers. As of 14 November 2017, there were 715 (99% of total) signed sale contracts for Building 1, 641 (91% of total) for Building 2, 45 (20% of total) for Building 6 and 29 (3% of total) for Building 3.
  • At AFI Residence Paveletskaya, construction works and pre-sale of apartments continue to plan; 325 (51% of Phases I and II) residential units were pre-sold as of 14 November 2017.
  • AFIMALL City continues to demonstrate NOI growth, reaching US$44.4 million in 9M 2017 vs US$37.8 million in 9M 2016.
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