ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has launched sales for the final stage of Normandy, a comfort-class project in Moscow. The total NSA of this stage, which consists of two buildings of 10-21 storeys and underground parking for 296 cars, amounts to 34.4 ths sqm, including 28.4 ths sqm of apartments.
A comfort-class residential project, Normandy will consist of five buildings with variable heights up to 24 storeys, underground parking, a pre-school for 125 children and commercial premises. The total NSA of the project is 123 ths sqm.
This project is located in Moscow’s Losinoostrovskiy district, which has well-developed infrastructure that includes schools, pre-schools, medical clinics, shopping centres and cafes. The district is known for its good environmental conditions, with the 12 ths-hectare Lossiniy Ostrov National Park located next the development, as well as the Torfyanka Park and Tayezhniy Square that are just 10-minutes’ walk away. The district is located near the Moscow Ring Road and offers convenient access to key transport arteries. The Medvedkovo and Babushkinskaya metro stations are both within walking distance.
Etalon Group plans to complete this phase and the entire project in 2020.
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 7554 993 032
T: +7 499 918 3134
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 6.3 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2017 was RUB 9.7 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 58 Russian cities.
As of 30 June 2018, Etalon Group's assets comprised 39 projects and a construction and maintenance division, with a total of 2.73 million sqm of unsold net sellable area. Knight Frank valued the Company’s assets at RUB 132,487 million.
For the year ended 31 December 2018, Etalon Group's new contract sales totalled 628 ths sqm, or RUB 68,731 million. Deliveries in 2018 amounted to 479 ths sqm.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.
13 February 2019