Etalon Group PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has acquired the rights to a 1.5-ha land plot in St Petersburg’s prestigious Petrogradskiy district for the development of a new residential project.
The site is situated on Aptekarskiy Prospekt. This is a well-established central neighbourhood, with extensive residential, business and entertainment infrastructure located nearby, as well as cultural sites. The project is close to the picturesque Aptekarskaya Embankment, the St Petersburg Botanical Garden and a number of historical sites, and will have excellent views of celebrated St Petersburg landmarks.
The new complex will have excellent transport access to major transport routes, including Bolshoy Prospekt and the Aptekarskaya and Vyborgskaya Embankments.
Etalon Group plans to develop a business-class project on the site, with a total NSA of 47 ths sqm. This will include 28 ths sqm of residential space, commercial premises and a garage for 363 cars. As most of the permit documentation has already been obtained, Etalon Group plans to begin construction and launch sales in the next six months.
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 Etalon LenSpetsSMU subsidiaries. With a 30-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 5.5 million sqm.
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 2016 was RUB 7.8 billion.
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 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 million.
For the year ended 31 December 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.