ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, was among 160 businesses to receive a rating in RAEX’s ESG ranking of Russian companies.
Having released its first-ever ESG report this year, detailing its strategy and performance in the three main areas of the sustainability agenda, Etalon Group obtained a high rating of BB and was among the top 50 companies in the ranking.
Companies were evaluated on the basis of more than 200 criteria relating to compliance with best practices in the areas of environmental protection (E), social initiatives (S) and corporate governance (G). Of these, around 150 criteria applied to every company regardless of the nature of its business, while the remainder were industry-specific.
Commenting on the Company’s high ranking, Etalon Group CEO Gennadiy Shcherbina said:
“We are developing our ESG efforts as a practical tool to improve our business processes at the design, construction and operations stages, as well as those processes that support various functions within the Company. In 2022, we delivered excellent sustainability results and published our first stand-alone ESG report, leading to our high position in the ranking and a rating of BB. Inclusion in the ranking reflects a high regard for social responsibility, compliance with best practices in terms of environmental protection and a high level of corporate governance.
“We plan to further develop our ESG initiatives: to increase the transparency of corporate governance; to expand programmes to support local communities, given our expansion into new regions; to develop our collaboration with universities to train personnel to work in the construction industry; and to further reduce our carbon footprint thanks to the development of 15-minute-city projects, the incorporation of resource-efficient solutions, the optimisation of logistics chains and the development of state-of-the-art modular housing construction technology.”
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
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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. In 2021, the Company began a regional expansion programme and has already launched new projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With a 35-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 delivered 8.6 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group is able to create added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs more than 5,800 people, and its nationwide sales network covers 35 regions of Russia.
Etalon Group’s assets comprise 38 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.4 mln sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2022 was RUB 288 billion.
In 2022, Etalon Group’s new contract sales totalled 292 ths sqm, or RUB 58.7 billion, not including accumulated new contract sales at YIT Russia as of its acquisition.
The Company's revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB 16.5 billion.
Etalon Group’s GDRs have been listed on the Main Market of the London Stock Exchange since 20 April 2011 and included in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN. In July 2023, the Company completed the process of changing the basis for its listing on Moscow Exchange.