REG - Etalon Group Limited - Etalon Group Acquires New Project in Moscow <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

07/11/2016 07:30

RNS Number : 4375O
Etalon Group Limited
07 November 2016
7 November 2016
Etalon Group Acquires New Project in Moscow
Etalon Group Limited ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has signed a contract to acquire the rights toa new residential development project in Moscow.
The expected NSA of the new project is 173 ths sqm, including 105 ths sqm of residential area, 1,500 parking places, a pre-school and a school.
The 6.6 hectare land plot is located in the Perovoregion of the Eastern administrative district of Moscow. It is situated in an area with well-developed infrastructure, and is approximately 1 km from Izmaylovsky park. The project will have good transport accessibility: central Moscow can be reached in 20 minutes by car or by metro from the nearest station, Shosse Entuziastov, which is within just 10 minutes' walk.
Etalon Group plans to begin construction and launch sales at the new project in the first half of 2018.
This new project is similar in concept and location to Golden Star, which has demonstrated excellent performance: launched in early November 2015, the project already accounted for 7% of Etalon Group's total new contract sales for 4Q 2015. Today, after 12 months since the launch of sales, over 50% of the residential and commercial area of Golden Star are presold.
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 LenSpetsSMU subsidiaries. With a 29-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 million sqm. Etalon Group's CAGR for deliveries in 2010-2015 was 19%.
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 2015 was RUB 7,397 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 5,000 people, and its nationwide sales and marketing network covers 37 Russian cities.
As of 31 December 2015, Etalon Group's portfolio comprised 28 projects, with a total of 2.72 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 104,384 million.
For the year ended 31 December 2015, Etalon Group's new contract sales totalled 385 ths sqm, or RUB 35,080 million. Deliveries in 2015 totalled 502 ths sqm.
The Company recorded revenue of RUB 42.4 billion and EBITDA of RUB 7.7 billion for the year ended 31 December 2015.
Etalon Group Limited'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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