Financial highlights

  • Revenue for H1 2017 increased by 18% year-on-year to US$106.1 million, including proceeds from the sale of trading properties:

      - Rental and hotel operating income increased by 41% year-on-year to US$56.1 million

      - AFIMALL City contribution grew by 27% year-on-year to US$39.8 million (H1 2016: US$31.3 million)

      -  Sale of residential properties contributed US$49.8 million to total revenue

  • Gross profit increased by 9% year-on-year to US$29.7 million (H1 2016: US$27.2 million)   
  • Net profit for for H1 2017 amounted to US$7.9 million, compared to a loss of US$53.3 million in H1 2016
  • Total gross value of portfolio of properties stood at US$1.49 billion (no change compared to end-Q1 2017)
  • Cash, cash equivalents and marketable securities as of 30 June 2017 amounted to US$25.5 million (vs. US$29.6 million at end-Q1 2017)

Operational highlights

  • Construction and pre-sales at Bolshaya Pochtovaya and Botanic Garden, launched in late Q1 2017, are progressing well. As of 16 August 2017, 13 apartments have been pre-sold at Bolshaya Pochtovaya and 40 at Botanic Garden   
  • At Odinburg, construction and marketing of Building 6 started during Q2 2017. Delivery of apartments in Building 2 continued throughout the quarter. As of 16 August 2017, the number of sale contracts signed amounted to 717 (99% of total) in Building 1, 594 (84% of total) in Building 2 and 7 (3% of total) in Building 6
  • At the AFI Residence Paveletskaya residential development, construction works and pre-sale of apartments continue to plan; 270 units [1] have been pre-sold as for 16 August 2017
  • AFIMALL Citycontinues to demonstrate NOI growth, from US$24.6 million in H1 2016 to US$29.4 million in H1 2017
  • At the Aquamarine III office complex, a multi-year lease of circa 8,200 sq.m of office space was signed with Deutsche Bank in July 2017



[1] At AFI Residence Paveletskaya there are two types of residential units: fully residentially zoned units referred to as “flats” and commercially zoned units that, according to common market practice in Russia, are sold and referred to as “apartments” and can be used for permanent residence.

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