REG - Etalon Group PLC - Etalon Announces Strengthening of Management Team

EtalonAnnouncement

06/10/2023 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231006:nRSF9619Oa&default-theme=true

RNS Number : 9619O  Etalon Group PLC  06 October 2023

 

6 October 2023

Etalon Group Announces Strengthening of Management Team

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest
and longest-established development and construction companies, announces the
strengthening of its management team.

In connection with the rapid scaling-up of the business and the active
development of a strategic focus on internal efficiency, two new vice
presidents have joined the management team: Mikhail Buzulutsky and Stanislav
Kondratyev.

As Vice President of Sales and Marketing, Mikhail Buzulutsky oversees the
development of sales and the commercial function at the Company. Mikhail has
over 20 years' professional experience in real estate and construction. Prior
to joining Etalon Group he managed the commercial function at several leading
real estate development companies, including Ingrad, Seven Suns Development,
and Glavstroy St. Petersburg.

Stanislav Kondratyev joined the management of Etalon Group in October 2023 as
Vice President for Product. He will be responsible for developing the product
and increasing its availability. Stanislav graduated from the Moscow Institute
of Economics, Politics and Law, and prior to joining Etalon Group he held the
position of Senior Vice President at PIK Group, and also previously worked as
Vice President at Sminex.

Commenting on the new appointments, Gennadiy Shcherbina, Chief Executive
Officer of Etalon Group, said:

"I'm delighted to welcome Mikhail Buzulutsky and Stanislav Kondratyev to the
management team. The addition of Mikhail Buzulutsky to the team has
strengthened our expertise in terms of building an effective sales system in
our traditional markets as well as in new regions for the company,
contributing to significant sales growth in Q3 2023. I'm confident that
Stanislav Kondratyev's many years of experience and extensive expertise in
product development will help us to increase product availability through cost
control and attain leading positions in regional markets. Working together to
support the further scaling-up of the business through product enhancement and
cost optimisation, including by increasing business cost efficiency, will
enable us to successfully deliver on our ambitious strategic goals of
geographic expansion and business growth."

This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/ru/investoram/novosti/
(https://www.etalongroup.com/ru/investoram/novosti/) .

Contact information

 

Etalon Group

IR Team

T: +44 (0) 20 8123 1328

E: ir@etalongroup.com

 

EM

E: etalon@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. In 2021, the
Company began a regional expansion programme and has already launched new
projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With
a 35-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 delivered 8.6 mln sqm of real estate.

Thanks to its integrated business model, Etalon Group is able to create added
value for customers and shareholders at every stage of development, from land
plot analysis and acquisition to the operation and maintenance of existing
properties. Etalon Group employs more than 5,800 people, and its nationwide
sales network covers 35 regions of Russia.

Etalon Group's assets comprise 38 projects at the design and construction
stages, unsold inventory at completed residential complexes and commercial
properties, with total unsold NSA of 6.4 mln sqm, as well as a construction
and maintenance division. According to Nikoliers, the value of Etalon Group
assets as of 31 December 2022 was RUB 288 billion.

In 2022, Etalon Group's new contract sales totalled 292 ths sqm, or RUB 58.7
billion, not including accumulated new contract sales at YIT Russia as of its
acquisition.

The Company's revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB
16.5 billion.

Etalon Group's GDRs have been listed on the Main Market of the London Stock
Exchange since 20 April 2011 and included in the Level 1 quotation list of
Moscow Exchange since 31 January 2020 under the ticker ETLN. In July 2023, the
Company completed the process of changing the basis for its listing on Moscow
Exchange.

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEQLBBXBLEFBQ