REG - Etalon Group Limited - Etalon launches sales for project in St Petersburg <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

23/08/2016 10:46

RNS Number : 8330H
Etalon Group Limited
23 August 2016
23 August 2016
Etalon Group launches sales for new project in St. Petersburg
Etalon Group Limited ("Etalon Group" or "the Company"), one of Russia's largest and longest-established development and construction companies, has launched sales for a new project with total NSA of 42 ths sqm in the Kalininskiy district of St. Petersburg.
The new development will consist of a 20-storey residential building, a parking garage and a pre-school for 80 children. It is expected to have 765 flats and 476 parking places.
The project is located on Obruchevykh street, within walking distance of the Polytekhnicheskaya and Akademicheskaya metro stations. It is situated in an established residential district of the city, with shopping facilities, entertainment and fitness centres all in close proximity, as well as schools and kindergartens. The Sosnovka and St. Petersburg Polytechnic University parks are both within walking distance of the development.
Etalon Group acquired the project in July 2016, and has already started construction works - a good example of the Company's strategic focus on effective capital recycling. The project is planned to complete in 2019, with construction of the key buildings scheduled for completion 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 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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