REG - Etalon Group PLC - Etalon Group Delivers Schastye na Volgogradke

EtalonAnnouncement

15/11/2019 07:30

RNS Number : 5004T
Etalon Group PLC
15 November 2019
 


15 November 2019
 
Etalon Group Delivers Schastye na Volgogradke
 
ETALON GROUP PLC (the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has completed the Schastye na Volgogradke residential complex in the south-east of Moscow. The project has a total NSA of 11 ths sqm, including 9 ths sqm of residential area.
 
Schastye na Volgogradke is a 16-storey comfort class building with two-level underground parking and a well-maintained closed courtyard territory. The residential complex is located in a well-developed area and is surrounded by parks, including the Fyodor Poletaev Public Garden, Kuzminki Park and the Kuskovsky Forest Park. Pre-schools, schools, a medical centre, stores and other social and commercial infrastructure are all located nearby as well. Schastye na Volgogradke has good transport accessibility: it is within walking distance of the Ryazanskiy Prospekt and Kuzminki metro stations, and has convenient access to Volgogradskiy and Ryazanskiy Prospekts, both of which connect with the Third Ring Road and the Moscow Ring Road.
 
With the completion of the Schastye na Volgogradke project, Etalon Group has now delivered 339 ths sqm of NSA since the beginning of 2019.
 
Schastye na Volgogradke became part of Etalon Group's portfolio following the acquisition of Leader-Invest, one of Moscow's largest developers, in 2019.
 
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
 
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
 
EM
Sam VanDerlip
T: +44 207 002 7859
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 6.3 million sqm of real estate.
 
Etalon Group's traditionally conservative approach to managing its financial position, solid cash generation and strict working capital management support a secure liquidity position: net cash as of 31 December 2018 was RUB 2.2 billion.
 
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, including the aforementioned consolidation and 100% ownership of ZIL-Yug project, comprise 53 projects under development, completed residential and commercial properties, as well as a construction and maintenance division, with total unsold NSA of 4.0 million sqm. Knight Frank valued the Company's total assets at RUB 206,071 million as of 31 December 2018.
 
For the year ended 31 December 2018, Etalon Group's new contract sales totalled 628 ths sqm, or RUB 68,731 million. Deliveries in 2018 amounted to 479 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.
 




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