ETALON GROUP PLC (the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has completed the Schastye na Maslovke project in the northern part of Moscow. The project has a total NSA of 7 ths sqm, including 5 ths sqm of residential area.
Schastye na Maslovke is a 7-storey business-class project with two-level underground parking and a private area surrounding the building. The project is located in the well-developed Savelovskiy district in the north of the capital. There are many shops, schools, sports and shopping centres within walking distance of the project. Petrovskiy and Timiryazevskiy parks as well as other natural recreation areas, are in the immediate vicinity. Dynamo metro station is located only one kilometre away and there is convenient access to Leningradskiy Prospekt and the Third Ring Road, which makes transport easily accessible.
With the completion of the Schastye na Maslovke, Etalon Group has now delivered 320 ths sqm of NSA since the beginning of 2019.
The Schastye na Maslovke project became part of Etalon Group’s portfolio following Etalon’s acquisition of Leader-Invest, one of the largest developers in Moscow, in 2019.
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 207 002 7859
About Etalon Group
Founded in 1987, Etalon Group is one of Russia’s largest development and construction companies. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 6.3 million sqm of real estate.
Etalon Group’s traditionally conservative approach to managing its financial position, solid cash generation and strict working capital management support a secure liquidity position: net cash as of 31 December 2018 was RUB 2.2 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as maintain best-in-class profitability. Etalon Group employs over 5,000 people, and its nationwide sales and marketing network covers 58 Russian cities.
In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow’s largest residential developers by size of land bank and number of projects currently available for sale.
Etalon Group’s total assets, including the aforementioned consolidation and 100% ownership of ZIL-Yug project, comprise 53 projects under development, completed residential and commercial properties, as well as a construction and maintenance division, with total unsold NSA of 4.0 million sqm. Knight Frank valued the Company’s total assets at RUB 206,071 million as of 31 December 2018.
For the year ended 31 December 2018, Etalon Group’s new contract sales totalled 628 ths sqm, or RUB 68,731 million. Deliveries in 2018 amounted to 479 ths sqm.
The Company recorded revenue of RUB 72.3 billion and EBITDA of RUB 5.7 billion for the year ended 31 December 2018.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.