REG - Etalon Group PLC - Etalon Group Acquires 35% Stake in QB Technology

EtalonAnnouncement

16/08/2021 07:30

RNS Number : 6700I
  
Etalon Group PLC
  
16 August 2021
  
 

16 August 2021
 
Etalon Group Acquires 35% Stake in QB Technology 
 
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces the acquisition of a 35% stake in QB Technology (hereinafter the "Transaction"), with an option to further increase its ownership share.
QB Technology is an innovative UK-based high-tech modular construction company that provides a full range of services for the design, installation and finishing of residential and commercial modular buildings. The technology used by the company enables the construction of buildings of various formats and functional purposes, including housing projects, build-to-rent housing, hotels and student dormitories.
The acquisition of a stake in QB Technology is in line with Etalon Group's strategy for the digital and technological transformation of its business through proprietary solutions and innovation in collaboration with other companies. The development of modern technology for modular housing construction is one of the Company's priorities in terms of improving its product. The Transaction gives Etalon Group access to this technology and makes it possible to adapt the technology as efficiently as possible for use in the Russian market on the basis of its partner's experience.
 
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
 
Contact Information
 
Etalon Group
IR Team
T: +44 (0) 20 8123 1328
E: ir@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 the largest development and construction companies in Russia. 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 delivered 7.5 million 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 over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.
Etalon Group's total assets comprise 20 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 2.8 million sqm, as well as a construction and maintenance division. Colliers International valued the Company's total assets at RUB 204 billion as of 31 December 2020.
In 2020, Etalon Group's new contract sales totalled 538 ths sqm, or RUB 79.9 billion. Deliveries in 2020 amounted to 540 ths sqm.
The Company's revenue in 2020 amounted to RUB 78.7 billion, with EBITDA of RUB 12.6 billion.
Etalon Group's GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.

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