REG - Etalon Group Limited - Etalon Group Delivers 107 ths sqm at Molodejny <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

08/12/2014 07:11

RNS Number : 0538Z
Etalon Group Limited
08 December 2014
08 December 2014
Etalon Group Delivers 107 ths sqm of NSA at Molodejny
Etalon Group Limited ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has delivered a residential building with underground parking at its Molodejny project. The 24-story building contains 1,412 flats. The total NSA of the building is 107.1 ths sqm.
Project Molodejny is situated in the Nevsky district of St. Petersburg on a 3.6 hectare land plot bordering the Neva River and Prospect Obukhovskoy Oborony. The project is located in an area with well-developed infrastructure, including several kindergartens and schools, a shopping centre and the Kurakina Dacha park. The project site is also within a five-minute walk from Proletarskaya metro station. 
The building was completed in line with Etalon Group's 2014 construction plan, which envisions total deliveries of 580 ths sqm, representing a 24% year-on-year increase over 2013. In addition to Molodejny, the Company has already delivered six residential buildings at Emerald Hills and Galant in 2014, with total delivered NSA at these three projects of 266.7 ths sqm.
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 27-year history, Etalon Group has one of the longest and most successful track records in the Russian realestate industry.
Since its inception, Etalon Group has commissioned 3.9 million sqm. The Company is currently implementing its post-IPO construction programme, which is on track to achieve fourfold growth in construction volumes between 2010 and 2016 (from 209 ths sqm to 800 ths sqm). Etalon Group's CAGR for deliveries in 2010-2013 was 31%.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for ongoing projects while maintaining a secure liquidity position: net cash as of 30 June 2014 was USD 10 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 over 4,500 people, and its nationwide sales and marketing network covers 36 Russian cities.
As of 31 December 2013, Etalon Group's portfolio comprised 28 projects, with a total of 3.44 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at USD 2,727 million, a 15% increase in the market value from YE 2012.
For the year ended 31 December 2013, Etalon Group's new contract sales totalled 356 ths sqm, or RUB 30,227 million. Deliveries in 2013 totalled 468 ths sqm. The Company recorded revenue of RUB 39.9 billion and EBITDA of RUB 9.4 billion, with an EBITDA margin of 24% for the year ended 31 December 2013.
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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