Etalon Group Limited (“Etalon Group” or “the Company”), one of Russia’s largest and longest-established development and construction companies, has launched sales for its Fusion project in the Vyborgskiy district of St. Petersburg.
The new business-class residential project, situated on Krapivniy Pereulok, will comprise a 9-storey building with 110 apartments, an 83-place parking garage, and a pre-school. The expected NSA of the project is 14 ths sqm.
The site is located near the historic centre of St. Petersburg and the Neva embankment, on a quiet side street on the border of the Vyborgskiy and Petrogradskiy districts. This is a well-developed area of the city, with educational, medical and sporting facilities, as well as shops, banks and cafes all in close proximity. The project is surrounded by parks, with Grenaderskiy Garden and Sampsonievskiy Garden just around the corner. Vyborgskaya metro station is within 5-minutes’ walk. The project has easy access to major transport routes, including Vyborgskaya Embankment, Bolshoy Sampsonievskiy Prospect, and Lesnoy Prospect.
Etalon Group acquired the project in December 2016 and expects to complete it in 2019.
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 LenSpetsSMU subsidiaries. With a 29-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 5.4 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 5,000 people, and its nationwide sales and marketing network covers 49 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 Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.