Etalon Group Limited (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, is pleased to announce that it has launched sales for its Moscow Gates residential development project in St. Petersburg.
Moscow Gates will consist of six residential buildings of up to 18 stories situated on a 12.8 hectare land plot in the prestigious Moskovskiy district of St. Petersburg. The project is located in an area with well-developed infrastructure close to Moskovskiy prospect and within a five-minute walk from the Moscow Gates metro station.
The project has a total planned NSA of 227 ths sqm, which includes 2,496 flats and 884 parking places. Etalon Group expects to complete the project in 2017.
Etalon Group President Viacheslav Zarenkov said: “I am very pleased to announce the start of sales for yet another project this year. We have made excellent progress at significantly diversifying our portfolio since 2013, and Moscow Gates will help to further improve the product mix we offer customers going forward. All of our residential real estate projects, including Moscow Gates, are focused on the comfort class segment, which we believe enjoys significantly more sustainable demand through economic cycles.”
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
T: +7 916 306 6112
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 27-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 3.9 million sqm. The Company is currently implementing its post-IPO construction programme, which is on track to achieve fourfold growth in construction volumes between 2010 and 2016 (from 209 ths sqm to 800 ths sqm). Etalon Group’s CAGR for deliveries in 2010-2013 was 31%.
Etalon Group’s strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for ongoing projects while maintaining a secure liquidity position: net cash as of 30 June 2014 was USD 10 million.
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 over 4,500 people, and its nationwide sales and marketing network covers 36 Russian cities.
As of 31 December 2013, Etalon Group’s portfolio comprised 28 projects, with a total of 3.44 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at USD 2,727 million, a 15% increase in the market value from YE 2012.
For the year ended 31 December 2013, Etalon Group's new contract sales totalled 356 ths sqm, or RUB 30,227 million. Deliveries in 2013 totalled 468 ths sqm. The Company recorded revenue of RUB 39.9 billion and EBITDA of RUB 9.4 billion, with an EBITDA margin of 24% for the year ended 31 December 2013.
Etalon Group Limited’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.