REG - Etalon Group Limited - Etalon Group Launches Sales for Samotsvety <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

29/10/2014 15:04

RNS Number : 9636P
Etalon Group Limited
26 August 2014
26 August 2014
Etalon Group Launches Sales for Samotsvety
Etalon Group Limited ("Etalon Group" or "the Company", LSE ticker: ETLN), one of Russia's largest and longest-established residential real estate developers, is pleased to announce that it has launched sales for its Samotsvety residential development project in St. Petersburg.
Samotsvety will consist of four residential buildings of up to 10 stories situated in central St. Petersburg on an eight-hectare land plot bordering the Smolenka river embankment in the Vasileostrovskiy district. The project has a total planned NSA of 189 ths sqm, which includes 2,015 flats and 1,654 parking places. 
Construction work at the site is already at an advanced stage, which the Company believes will make the project even more attractive to potential buyers. The poured concrete stage for the first building is nearly completed, with work on the roof already underway. On the second building, concrete pouring is completed up to the 6th floor.
Etalon Group expects to complete the project in 2016.
Etalon Group President Viacheslav Zarenkov said: "With the launch of sales at Samotsvety we are delivering further diversification of our portfolio with another prime-location project. Samotsvety, combined with the two other new projects we plan to launch in the second half of the year, should have a positive effect on sales in 2H 2014 and beyond."
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: +7 916 306 6112
vanderlip@em-comms.com
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest residential real estatedevelopers. 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 27-year history, Etalon Group has one of the longest and most successful track records in the Russian realestate industry.
Since its inception, Etalon Group has commissioned 3.9 million sqm. The Company is currently implementing its post-IPO construction programme, which is on track to achieve fourfold growth in construction volumes between 2010 and 2016 (from 209 ths sqm to 800 ths sqm). Etalon Group's CAGR for deliveries in 2010-2013 was 31%.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for ongoing projects while maintaining a secure liquidity position: net debt as of 31 December 2013 was just USD 6 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 4,500 people, and its nationwide sales and marketing network covers 36 Russian cities.
As of 31 December 2013, Etalon Group's portfolio comprised 28 projects, with a total of 3.44 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at USD 2,727 million, a 15% increase in the market value from YE 2012.
For the year ended 31 December 2013, Etalon Group's new contract sales totalled 356 ths sqm, or RUB 30,227 million. Deliveries in 2013 totalled 468 ths sqm. The Company recorded revenue of RUB 39.9 billion and EBITDA of RUB 9.4 billion, with an EBITDA margin of 24% for the year ended 31 December 2013.
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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