11/08/2018 | Press release | Distributed by Public on 11/08/2018 07:21
ETALON GROUP PLC ('Etalon Group' or the 'Company'), one of Russia's largest and longest-established development and construction companies, comments on recent speculation regarding the sale of a significant stake by one of its shareholders.
Etalon Group is aware of recent media speculation regarding potential transactions with the Company's shares. It is the Company's policy not to comment on market rumours. The Company has not received any notification from its shareholders regarding the sale of a significant stake in the Company.
In the event of such notification, in compliance with legal requirements and corporate governance standards adopted by the Company, an appropriate disclosure will be made as soon as such information has been received.
This and other recent announcements are available on the Etalon Group website:
Etalon Group IR Team
T: +44 20 8123 1328
E: [email protected]
T: +44 7554 993 032
T: +7 499 918 3134
E: [email protected]
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 Etalon LenSpetsSMU subsidiaries. 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 inception, Etalon Group has commissioned 5.8 million sqm.
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 2017 was RUB 9.7 billion.
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 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 30 June 2018, Etalon Group's assets comprised 39 projects, with a total of 2.73 million sqm of unsold net sellable area, and a construction and maintenance division. Knight Frank valued the Company's assets at RUB 132,487 million.
For the year ended 31 December 2017, Etalon Group's new contract sales totalled 512 ths sqm, or RUB 50,240 million. Deliveries in 2017 amounted to 423 ths sqm.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.
8 November 2018