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

EtalonAnnouncement

29/03/2016 07:30

RNS Number : 3233T
Etalon Group Limited
29 March 2016
29 March 2016
Etalon Group Launches Sales for New Project in Moscow
Etalon Group Limited ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, has launched sales at its Summer Garden project, which is located on Dmitrovskoye Highway in Moscow. 
With the launch of the first stage of Summer Garden, customers are being offered a selection of 628 flats in two residential buildings. The second stage of this project is due to be launched later this year.
Summer Garden is a new and attractive addition to Etalon Group's growing Moscow sales portfolio. The project will comprise eleven residential buildings of up to 24 stories, as well as commercial and social infrastructure. The total planned NSA of the project is 283 ths sqm, including 3,081 apartments and 1,181 parking spaces.
The project benefits from both good transport accessibility and proximity to parks. Summer Garden is situated in apleasant area close to the Park Angarsk Prudy, Dmitrovsky Park and the VeteranTheme Park. It is easily accessed from Yahromsky Passage and Dmitrovskoye Highway. Seligerskaya metro station, for which construction recently started, is just 1.5 km from the complex, and there are plans to build another metro station, Yubileinaya, adjacent to the site.
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
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 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 36 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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