Etalon Group Delivers 580 ths sqm of NSA in 2014

11 January 2015

 

Etalon Group Limited (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has delivered 580 ths sqm of net sellable area (“NSA”) at its residential real estate development projects during 2014, exactly in line with the Company’s guidance and construction programme for the year.

Etalon Group delivered NSA at the following six projects in 2014:

ProjectDeliveries, NSA ths sqm
Emerald Hills133
Molodejny107
Rechnoy111
Tsar’s Capital107
Swallow’s Nest83
Galant39
Total580

Etalon Group CEO Anton Evdokimov said: “With 580 ths sqm of deliveries in 2014, we met the guidance we provided to the investment community and we set a new Company record for delivery volumes, achieving year-on-year growth of 24% from 468 ths sqm in 2013.  Etalon Group enters 2015 with a well-diversified portfolio of projects concentrated in Russia’s two most affluent regions, no immediate need to acquire new projects in order to implement its construction programme, a strong financial position and an excellent reputation among its customers as a reliable company that delivers high-quality projects on schedule.”

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 27-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 3.9 million sqm. The Company is currently implementing its post-IPO construction programme, which is on track to achieve fourfold growth in construction volumes between 2010 and 2016 (from 209 ths sqm to 800 ths sqm).  Etalon Group’s CAGR for deliveries in 2010-2013 was 31%.

Etalon Group’s strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for ongoing projects while maintaining a secure liquidity position: net cash as of 30 June 2014 was USD 10 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 4,500 people, and its nationwide sales and marketing network covers 36 Russian cities.

As of 31 December 2013, Etalon Group’s portfolio comprised 28 projects, with a total of 3.44 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at USD 2,727 million, a 15% increase in the market value from YE 2012.

For the year ended 31 December 2013, Etalon Group's new contract sales totalled 356 ths sqm, or RUB 30,227 million. Deliveries in 2013 totalled 468 ths sqm. The Company recorded revenue of RUB 39.9 billion and EBITDA of RUB 9.4 billion, with an EBITDA margin of 24% for the year ended 31 December 2013.

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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12 January 2015