ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has delivered four residential buildings with 17 ths sqm of NSA at its Golden Star project in Moscow.
The four buildings that have been completed range from 6 to 24 storeys high and contain 264 apartments with a total residential NSA of 13 ths sqm. An additional 3 ths sqm of NSA is attributable to an underground parking garage with spaces for 107 cars.
Golden Star is located on a 3.6 hectare plot of land in the Sokolinaya Gora district in the Eastern Administrative Division of Moscow. It is situated in an area with well-developed infrastructure and is approximately 800 metres from Izmaylovsky Park, one of Moscow’s largest parks. The total NSA of the project is 85 ths sqm, including residential buildings, parking and social infrastructure.
With these recently completed buildings at Golden Star, Etalon Group has now delivered 188 ths sqm of NSA at its projects in St Petersburg and the Moscow Metropolitan Area since the beginning of 2017, and is well on track to achieve its FY 2017 deliveries target of more than 420 ths sqm of NSA.
This and other recent announcements are available on the Etalon Group website: www.etalongroup.com/investors/news/
Etalon Group IR Team
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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 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 5.6 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 2016 was RUB 7.8 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 52 Russian cities.
As of 31 December 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 million.
For the year ended 31 December 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.