REG - Etalon Group Limited - Etalon Master Plan for Galactica Approved <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

17/03/2016 07:30

RNS Number : 3961S
Etalon Group Limited
17 March 2016
17 March 2016
Etalon Master Plan for Galactica Approved
Etalon Group Limited ("Etalon Group" or "the Company"), one of Russia's largest and longest-established development and construction companies, announces that the site master plan for its Galactica project has been approved by Government of St. Petersburg.
Galactica is Etalon Group's largest project in St. Petersburg, and it is one of the biggest residential developments ever to be launched in the centre of the city. This is one of the first major redevelopment projects in St. Petersburg, and it will create an entirely new, comfortable residential district.
Galactica will be built on a 38-hectare land plot, and will have a total net sellable area of 800 ths sqm. It is situated by Moskovsky Prospect and Naberezhnaya Obvodnogo Kanala, just south of central St. Petersburg, which makes it a prestigious location for both living and doing business. The nearest metro stations, Frunzenskaya and Moskovskiye Vorota, can be reached from the development by foot in just 10-15 minutes. 
According to the results of Etalon Group's landbank valuation conducted by JLL, as of 31 December 2015 the estimated market value of the Company's share in the project was RUB 10.8 billion. The potential income from sales was estimated at over RUB 70 billion.
Construction and pre-sales of the first stage of the project are scheduled to start in 2016.
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 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 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 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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