REG - Etalon Group PLC - Etalon Group Launches New Phase at Galactica

EtalonAnnouncement

18/11/2019 07:30

RNS Number : 6601T
Etalon Group PLC
18 November 2019
 


18 November 2019
 
Etalon Group Launches New Phase at Galactica
 
ETALON GROUP PLC (the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has launched sales for a new phase at Galactica, the largest development project in the central part of St Petersburg.
 
The new stage will consist of two residential buildings with heightened comfort, each with its own underground parking. The expected NSA of the new stage is 73 ths sqm, including 58 ths sqm of residential area. The new buildings will be situated on a separate territory that is conveniently located at the northern end of the Galactica project, in the immediate vicinity of the Baltiyskaya metro station and the Varshavskiy Express shopping mall.
 
The apartments in this new phase will offer unique open terraces, which will be a perfect place to unwind. They will also have higher ceilings and large windows, giving the apartments good natural lighting. Residents will enjoy additional comfort due to the well thought out ergonomics of living spaces and large lifts with access to the underground parking. The new stage has been named "Galactica Pro" due to its unique characteristics and good location.
 
The location of the new buildings stands out due to its proximity to the Obvodnoy Canal Embankment, giving the project good transport accessibility: it is just seven minutes' walk to several metro stations and public transport stops. The new stage also has convenient access to Moskovskiy Prospekt and the Western High-Speed Diameter highway (WHSD). St Petersburg's historical centre is also just 5-7 minutes away by car, while the airport can be reached in 15-20 minutes.
 
Etalon Group plans to complete this stage in 2023.
 
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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