Etalon Group Limited (LSE: ETLN) (the "Company" or the “Group”), one of Russia's largest and oldest residential real estate developers, is pleased to announce that it has secured its 1,000th order this year with the sale of an apartment in the Company’s flagship Jubilee Estate project in St. Petersburg
St. Petersburg locals Victor Sazonov and Yulia Zhuravina completed the 1,000th order to Etalon this year, with the purchase of a 2-bedroom apartment, with a 100% down payment, and a price per square meter of 81,088 RUR. Sazonov and Zhuravina were repeat customers, as this represented an upgrade from the previous apartment they had also purchased from Etalon.
Commenting on this key milestone, Etalon Group President Vyacheslav Zarenkov said:
“This is of course a symbolic, but important and illustrative development for Etalon. We are delighted to have reached the 1,000 mark so early in the year, and once again this speaks to a broader positive trend in our industry, with continued recovery driven by the strengthening of consumer activity and demand, against the under-supply of quality space in our core “comfort class” segment. We are confident that this positive trend will continue throughout 2012.”
Etalon Group IR Team
T: +44 20 8123 1328
T: +7 495 663 8005
About Etalon Group
Founded in 1987, Etalon Group is one of Russia's largest residential real estate developers. The Company operates in both the St. Petersburg and Moscow Metropolitan Areas.
Etalon Group has a strong portfolio focused on large-scale residential complexes, with a dominant position in the "comfort class" (lower middle class and upper economy class) price segment, providing high quality living at affordable prices. The Company's portfolio comprised 31 projects, as of 31stDecember 2011, with a total of 3.25 million sqm of unsold net sellable area ("NSA") in the St. Petersburg and Moscow Metropolitan Areas. For the year ended 31st December 2010, the Company recorded revenues of RUB 20.3 billion (USD 669 million) and EBITDA of RUB 6.9 billion (USD 227 million), with an EBITDA margin of 34%.
Since 20th April 2011, Etalon Group Limited has had its GDRs traded on the Main Market of the London Stock Exchange.