REG - Etalon Group - Etalon Group Completes 3rd Building at Etalon City <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

30/06/2017 07:30

RNS Number : 6305J
Etalon Group Public Company Limited
30 June 2017
30 June 2017
Etalon Group Completes 3rd Building at Etalon City
ETALON GROUP PUBLIC COMPANY LIMITED ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has delivered the third residential building at its Etalon City project in Moscow. The building has a total NSA of 63ths sqm, which includes 1,012apartments.
When completed, the complex will consist of nine residential buildings situated on a 14.9-hectare land plot in the South Western administrative district of Moscow, bordering Starokrymskaya Street. 
The project site is situated in an area with well-developed infrastructure and is approximately 800 metres from the Skobelevskaya metro station. It is located about 10 minutes' drive from a MEGA shopping mall, and has numerous other supermarkets and shopping centres located even closer. The development benefits from excellent environmental conditions, with the Butovskiy Forest Park in close proximity to the property. 
Etalon Group expects to complete the project in 2018.
This and other recent announcements are available on the Etalon Group website: http://www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip 
T: +44 7554 993 032
T: +7 499 918 3134
E: vanderlip@em-comms.com
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.

This information is provided by RNS
The company news service from the London Stock Exchange
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