ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has signed a cooperation agreement with the Omsk regional government to implement investment projects in Omsk. Etalon Group’s entry into new regions is in line with its business development strategy to 2024.
Omsk will be the Company’s third region of operations, after St Petersburg and the Moscow region, where Etalon Group already occupies leading positions. With a population of over a million, Omsk is one of Russia’s main industrial centres and home to major companies in the oil-refining, chemical and high-tech industries. Thanks to its favourable location, Omsk offers excellent potential from the point of view of logistics: developed water- and motorways as well as major railways, including the Trans-Siberian, pass through the city. In addition, Omsk has outstanding investment potential and occupies a leading position in terms of the dynamics of investments in fixed assets.
By the end of this year, Etalon Group plans to launch its first project in Omsk.
Commenting on the Company’s expansion into a new region, Etalon Group CEO Gennadiy Shcherbina said:
“The signing of a cooperation agreement with the Omsk regional government and our entry into a new market is an important occasion for Etalon Group. Omsk is the first city outside St Petersburg and the capital region where we plan to carry out development projects. With its developed industry and infrastructure, municipal development programmes for the city and business support provided by the city administration, Omsk has great potential for investors.
“I am confident that our expansion into Omsk will be a starting point for Etalon on our journey to becoming a leading nationwide player, and that it will enable us to scale up our business while also improving efficiency, thereby increasing returns for Etalon Group’s current shareholders and future investors.”
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/.
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 207 002 7859
About Etalon Group
Founded in 1987, Etalon Group is one of the largest development and construction companies in Russia. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7.5 million sqm of real estate.
Thanks to its integrated business model, Etalon Group is able to create 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 over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.
Etalon Group’s total assets comprise 20 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 2.8 million sqm, as well as a construction and maintenance division. Colliers International valued the Company’s total assets at RUB 204 billion as of 31 December 2020.
In 2020, Etalon Group’s new contract sales totalled 538 ths sqm, or RUB 79.9 billion. Deliveries in 2020 amounted to 540 ths sqm.
The Company’s revenue in 2020 amounted to RUB 78.7 billion, with EBITDA of RUB 12.6 billion.
Etalon Group’s GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.