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ETLN - Etalon News Story

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Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £340.8m
Enterprise Value £584.7m
Revenue £879.1m
Position in Universe 612th / 1819

Etalon Group PLC - Etalon Delivers 89 ths sqm at Normandy Project

Thu 2nd April, 2020 7:30am
RNS Number : 4715I
Etalon Group PLC
02 April 2020
 

2 April 2020

 

Etalon Delivers 89 ths sqm at Normandy Project

 

ETALON GROUP PLC ("Etalon Group" or "the Company"), one of Russia's largest and longest-established development and construction companies, has completed the first stage of its Normandy project in Moscow. The total NSA of the first phase of the project is 89 ths sqm, including 69 ths sqm of residential space. The first stage of the project includes three residential buildings and underground parking.

 

Normandy is a comfort-class residential project comprising five residential buildings of up to 24 stories each, underground parking facilities and commercial premises. The total NSA area of the entire complex is 124 ths sqm. The project has enjoyed strong demand, with 80% of the apartments in the first phase of the project sold by the time it was delivered.

 

The project is located in Moscow's Losinoostrovsky district, which has well developed infrastructure including educational and healthcare facilities, shopping malls and cafes. It is one of Moscow's greener neighbourhoods, with the Losiny Ostrov National Park comprising an area of 12 ths ha located less than 3 km away from the complex, and Torfyanoy and Tayezhny Parks within a 10-minute walk. The district lies in close proximity to the Moscow Ring Road and has easy access to major transport routes. The complex is within walking distance of two metro stations, Medvedkovo and Babushkinskaya.

 

Etalon Group plans to complete the second phase and the entire Normandy project in 2021.

 

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, Etalon Group is one of Russia's largest development and construction companies. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7 million sqm of real estate.

 

The Company is vertically integrated, which helps it to control costs, quality and timing, as well as maintain best-in-class profitability. Etalon Group employs over 5,000 people, and its nationwide sales and marketing network covers 58 Russian cities.

 

In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow's largest residential developers by size of land bank and number of projects currently available for sale.

 

Etalon Group's total assets comprise 33 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 3.3 million sqm, as well as construction and maintenance division. Colliers International valued the Company's total assets at RUB 188 billion as of 31 December 2019.

 

For the year ended 31 December 2019, Etalon Group's new contract sales totalled 630 ths sqm, or RUB 77.6 billion. Deliveries in 2019 amounted to 622 ths sqm.

 

The Company recorded revenue of RUB 72.3 billion and EBITDA of RUB 5.7 billion for the year ended 31 December 2018.

 

Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 List of Moscow Exchange since 31 January 2020 under the ticker ETLN.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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