REG - Etalon Group PLC - Etalon Launches Project on Chernigovskaya Street

EtalonAnnouncement

15/10/2019 15:30

RNS Number : 9771P
Etalon Group PLC
15 October 2019
 


 
15 October 2019
 
Etalon Launches Project on Chernigovskaya Street
 
ETALON GROUP PLC (the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has launched sales at its business class project on Chernigovskaya Street in the Moskovskiy District of St Petersburg.
 
The residential complex will consist of four 8-storey and two 12-storey buildings, including two built-in kindergartens as well as one above-ground and two underground garages for 1,005 cars. It is expected to have a total NSA of 136 ths sqm, including 91 ths sqm of residential area. The project will feature French balconies and loggias with panoramic windows, as well as increased ceiling heights on the upper floors. The well-planned ergonomics of the living areas and spacious lifts with access to underground parking will make the complex more comfortable for residents.
 
The project is located near the Moscow Triumphal Gate, in an area with a well-developed residential and transportation infrastructure. The area in the immediate vicinity of the complex offers a variety of stores, schools, kindergartens and athletic centres, as well as several parks and public gardens. The project also has good access to public transportation: it is within a 5-minute walking distance from several public transportation stops and the Moskovskie Vorota metro station. In addition, the residential complex has convenient exits onto Moskovskiy and Ligovskiy Prospekts as well as the Obvodniy Canal embankment.
 
The project on Chernigovskaya Street was obtained in mid-2018 as part of the Company's strategy to acquire high-quality projects with a launch time of 6-18 months from the date of purchase.
 
Etalon Group plans to complete the project 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 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 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 100% ownership of 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 posted a record 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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