Etalon Group Limited (“Etalon Group” or “the Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has launched sales for Landyshi, the Company’s new project on Polyustrovskiy Prospect in St. Petersburg.
Landyshi will consist of two residential buildings of up to 16 storeys situated in the Kaliniskiy district. It will be within walking distance from the Lesnaya metro station, and four kilometres from central St. Petersburg. The total planned NSA of the project is 91 ths sqm, which includes 1,518 flats and 492 parking places. Etalon Group expects to complete the project in 2018.
Etalon Group President Viacheslav Zarenkov said:
“I am very pleased to note that we are launching sales and starting construction for Landyshi less than a year after the project was acquired in October 2014. With this new project, we will further diversify our portfolio, providing additional impulse for new sales from 2H 2015. Etalon Group’s significant landbank of high-quality projects, combined with our flexible business model, mean we have the ability to react quickly to changing demand by offering customers housing in a variety of locations around the city, widening our product portfolio – which is especially important in the current environment.”
This and 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: +7 499 918 3134
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 4.5 million sqm. Etalon Group's CAGR for deliveries in 2010-2014 was 29%.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2014 was RUB 636 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 5,000 people, and its nationwide sales and marketing network covers 36 Russian cities.
As of 31 December 2014, Etalon Group's portfolio comprised 29 projects, with a total of 3.11 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at RUB 104,286 million, a 17% increase in the market value from YE 2013.
For the year ended 31 December 2014, Etalon Group's new contract sales totalled 457 ths sqm, or RUB 39,961 million. Deliveries in 2014 totalled 580 ths sqm.
The Company recorded revenue of RUB 51.5 billion and EBITDA of RUB 10.6 billion, with an EBITDA margin of 21% for the year ended 31 December 2014.
Etalon Group Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.