Etalon Group Limited (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that its St. Petersburg operating company LenSpetsSMU has won a tender for the construction of the Yuzhnoye Depot for the St. Petersburg underground.
LenSpetsSMU won this new project, worth RUB 5.4 billion, in an open competition. The project is due to be completed in August 2018.
Etalon Group has a long track record of successful industrial construction projects in St. Petersburg, and it has earned a reputation for maintaining the highest standards of quality and project management. Etalon Group acted as general contractor on construction projects for ExpoForum, St. Petersburg's largest exhibition centre, and for leading international businesses in St. Petersburg such as Nissan. Other projects won by Etalon Group include work for the State Hermitage Museum (construction of part of the Restoration and Storage Centre), Zvezda-Reduktor (overhaul of production lines and renovation of administrative and service buildings) and Unipres (general contractor).
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
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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 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 2015, Etalon Group's portfolio comprised 28 projects, with a total of 2.72 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 104,384 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.
Etalon Group Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.