Etalon Group Declares Interim Dividend

08 November 2015

 

Etalon Group Limited ("Etalon Group" or the "Company"), one of Russia's largest and longest established development and construction companies, announces that the Board of Directors of the Company has declared an interim dividend of USD 0.03 per share for 1H 2015 on 6 November 2015.  The dividend represents 25% of the Company's consolidated net profit for the period (based on the official Central Bank of Russia exchange rate on 6 November 2015).<br/>

The ex-dividend date for holders of the Company's Global Depositary Receipts ("GDRs") was set as 19 November 2015, and the record date is 20 November 2015. Dividends are to be paid on 15 December 2015.

Etalon Group Chairman of the Board of Directors Viacheslav Zarenkov said: "The 6M 2015 dividend represents 25% of Etalon Group's net profit for the period, in line with our previous pay-outs and with the Company's dividend policy. The Board's decision reflects the fact that Etalon Group continues creating value for its shareholders, while maintaining a strong financial position. After a challenging first half of the year, we reported strong operating results in the third quarter of 2015, and I am pleased to say that this trend has continued into October."

This and other recent announcements are available on the Etalon Group website: www.etalongroup.com/investors/news/

Etalon Group IR Team

T: +44 20 8123 1328<br/> E: info@etalongroup.com

EM

Sam VanDerlip<br/>T: +44 7554 993 032<br/>T: +7 499 918 3134<br/>E: vanderlip@em-comms.com

 

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 LenSpetsSMU subsidiaries. With a 28-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 4.5 million sqm. Etalon Group's CAGR for deliveries in 2010-2014 was 29%.

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 2014 was RUB 636 million.

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 over 5,000 people, and its nationwide sales and marketing network covers 36 Russian cities.

As of 31 December 2014, Etalon Group's portfolio comprised 29 projects, with a total of 3.11 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at RUB 104,286 million, a 17% increase in the market value from YE 2013.

For the year ended 31 December 2014, Etalon Group's new contract sales totalled 457 ths sqm, or RUB 39,961 million. Deliveries in 2014 totalled 580 ths sqm.

The Company recorded revenue of RUB 51.5 billion and EBITDA of RUB 10.6 billion, with an EBITDA margin of 21% for the year ended 31 December 2014.

Etalon Group Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.

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9 November 2015