ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that its new contract sales reached RUB 12.2 billion in July 2024, with cash collections rising to RUB 8.5 billion, marking the Company’s best July performance since going public. Sales in terms of floor space totalled 43.4 ths sqm, surpassing July figures from each of the previous three years.

Commenting on the sales results, Etalon Group Chief Financial Officer Ilya Kosolapov said:

“We enjoyed robust sales growth in July, achieving our best-ever results for the month, with new contract sales increasing by 52% year-on-year and exceeding RUB 12 billion.

“We attribute this impressive performance to the rapid expansion of our geographic footprint, the strategic diversification of our portfolio by region and price segment, and our wide range of financing options at a time when buyers are shifting from the secondary to the primary market. The percentage of sales backed by a mortgage remained low in July, comparable to first-quarter figures. In addition, the adaptation of our product and our sales system enabled us to drive sales growth even as the industry transitions to a new environment.”

This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/

IR Team
T: +44 (0) 20 8123 1328
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E: etalon@em-comms.com

Founded in 1987, today Etalon Group is one of the leading nationwide players in Russia’s development and housing construction sector. The Company has been actively developing in eight regions across Russia since 2021, with large-scale projects under way in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With 37 years of successful operations and ongoing regional expansion, the Company remains one of the largest players in the Russian real estate market. 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 across Russia.

Etalon Group’s assets comprise 32 projects at the design and construction stages in eight regions, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 5.9 mln sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2023 was RUB 303 billion.

In 2023, Etalon Group's new contract sales totalled 547 ths sqm, or RUB 105.6 billion.

The Company's revenue in 2023 amounted to RUB 88.8 billion, with EBITDA of RUB 18.1 billion.

Etalon Group’s GDRs have been traded on Moscow Exchange (ticker ETLN) since February 2020.