19th Dec 2016 07:30
19 December 2016
Etalon Group Acquires New Project in St. Petersburg
Etalon Group Limited ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has acquired a land plot in the Vyborgskiy district of St. Petersburg for the development of a new business-class residential project.
The project, situated on Krapivniy Pereulok, will comprise a 9-storey building with 110 apartments, an 83-place parking garage, and a pre-school. The expected NSA of the project is 14 ths sqm.
The site is located near the historic centre of St. Petersburg and the Neva embarkment, on a quiet side street on the border of the Vyborgskiy and Petrogradskiy districts. This is a well-developed area of the city, with educational, medical and sporting facilities, as well as shops, banks and cafes all in close proximity. The project is surrounded by parks, with Grenaderskiy Sad and Sampsonievskiy Sad just around the corner. Vyborgskaya metro station is within 5-minutes' walk. The project has easy access to major transport routes, including Vyborgskaya Embarkment, Bolshoy Sampsonievskiy Prospect, and Lesnoy Prospect.
The construction permit for this project has already been acquired, and construction is expected to start in 1H 2017, with delivery due in 2019.
Since the start of 2016, Etalon Group has acquired the rights to seven new projects in Moscow and St. Petersburg, with a total planned NSA of 586 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
EM
Sam VanDerlip
T: +44 7554 993 032
T: +7 499 918 3134
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 29-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry.
Since its inception, Etalon Group has commissioned 5 million sqm. Etalon Group's CAGR for deliveries in 2010-2015 was 19%.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2015 was RUB 7,397 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 5,000 people, and its nationwide sales and marketing network covers 37 Russian cities.
As of 31 December 2015, Etalon Group's portfolio comprised 28 projects, with a total of 2.72 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 104,384 million.
For the year ended 31 December 2015, Etalon Group's new contract sales totalled 385 ths sqm, or RUB 35,080 million. Deliveries in 2015 totalled 502 ths sqm.
The Company recorded revenue of RUB 42.4 billion and EBITDA of RUB 7.7 billion for the year ended 31 December 2015.
Etalon Group Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.
Related Shares:
ETLN.L