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 44 ths sqm of NSA with the completion of another residential building at its Emerald Hills project in the Moscow Metropolitan Area (“MMA”).
The completed residential building consists of five sections ranging from 20-25 storeys high and contains 882 flats with a total residential NSA of 38 ths sqm.
Emerald Hills is Etalon Group’s first project in the Moscow Metropolitan Area, and remains the largest of the Company’s 11 projects in the region that are now either under construction or in design stage, including those recently acquired in 2017. With 11 active projects in the MMA, Etalon Group’s portfolio is now balanced between St Petersburg and Moscow.
The Emerald Hills project has a total NSA of 856 ths sqm and includes 20 residential buildings, of which 16 have now been delivered and one building is currently under construction. The project is located 8 km from the Moscow Ring Road in an area surrounded by green forests. The micro-district has social infrastructure that includes four pre-schools, a primary school, a secondary school and an art school for children. Landscaped areas and walking paths, as well as playgrounds and sports equipment have also been built as part of the project.
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
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 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 5.5 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.