ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that the value of new contracts in January 2024 amounted to RUB 12.5 billion (up 285% compared with January 2023), while sales in terms of floor space reached 51.1 ths sqm (up 175% compared with January 2023), which is higher than January figures from previous years.
Commenting on the results for January 2024, Etalon Group CEO Gennadiy Shcherbina said:
“Despite the challenging environment because of the high key rate, our sales in January beat the market and our own targets. The value of new contracts quadrupled year-on-year and, contrary to seasonal trends, exceeded the monthly average from the second half of last year by 5%. We enjoyed a severalfold increase in housing sales in regional markets and in our largest Moscow projects.
“Our strong results at the beginning of the year were driven by regional diversification, the variety of housing classes on offer and a comprehensive set of government mortgage subsidy programmes. We see potential in maintaining a diversified portfolio and in further regional expansion.”
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
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Etalon Group
IR Team
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About Etalon Group
Founded in 1987, Etalon Group is one of Russia’s largest federal players in development and construction field. Since 2021, the Company has been actively developing in the regional markets of Russia and has been building large-scale projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With a 37-year history and active regional expansion, Etalon Group keeps one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has delivered 9.0 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group creates 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 nearly 6,000 people, and its nationwide sales network covers 35 regions of Russia.
Etalon Group’s assets comprise 38 projects at the design and construction stages in 8 regions, 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 2023, Etalon Group’s new contract sales totalled 547 ths sqm, or RUB 105.6 billion.
The Company’s revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB 16.5 billion.
Etalon Group’s GDRs are traded on Moscow Exchange (ticker ETLN), where they are included in the Level 1 quotation list.