REG - Etalon Group Limited - Etalon Group Delivers 502 ths sqm of NSA in 2015 <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

11/01/2016 07:30

RNS Number : 3696L
Etalon Group Limited
11 January 2016
11January 2016
EtalonGroupDelivers 502 ths sqm of NSA in 2015
Etalon Group Limited ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it delivered 502 ths sqm of net sellable area ("NSA") at its residential real estate development projects during 2015, in line with the Company's guidance and construction programme for the year. This includes 14 residential buildingscomprising around 6,000 apartments.
Etalon Group delivered NSA at the following six projects in 2015:
Project
Deliveries, NSA ths sqm
Tsar's Capital
160
Samotsvety
128
Moscow Gates
66
Emerald Hills
65
Etalon City
43
Swallow's Nest
40
Total
502
Etalon Group CEO Anton Evdokimov said: "We delivered over 500 ths sqm of NSA in 2015, in line with the guidance we provided to the market at the beginning of the year. Despite complicated macroeconomic conditions, our new sales performance improved in the third and fourth quarters of 2015 compared to the first half of the year, and when we report our results on January 19th, I expect that Etalon will beat the guidance we gave the market a year ago. Record volumes of NSA launched for sales during the year supported this performance, and we expect to see this impact to continue into 2016. 
"Looking ahead, Etalon continues to enjoy sufficient land bank to implement our construction plan for several years to come. With one of the strongest financial positions in the industry, we are well placed to continue successful development in the current market environment."
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 28-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.

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