Etalon Group Acquires new Project in St PetersburgSource: RNS
13 September 2021
Etalon Group Announces the Acquisition of a Project in St Petersburg
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 land plot for residential development in the Moskovskiy district of St Petersburg. The project's planned NSA will be 31 ths sqm, including 24 ths sqm of residential space.
The construction site is located in an area adjacent to the historical centre, just 1 km from Obvodniy Canal and 5 km from Nevskiy Prospekt. Future residents will have access to developed infrastructure in the area, including schools and preschools, shops and supermarkets, medical centres, several sports complexes, a swimming pool, Moskovskiy Stadium, several business centres and numerous cafes. The project is located near Moskovskiy Prospekt, one of St Petersburg's main thoroughfares, and there are two metro stations within walking distance. Etalon Group is already developing two other popular projects not far from the site: the Galactica residential complex and the Project on Chernigovskaya Street. In 2Q 2021, new contract sales at these two projects accounted for 16% of the Company's total sales volume in square metres.
Etalon Group plans to launch sales in the new residential complex in 4Q 2022 and to complete the project by the end of 2025.
Earlier this year, the Company acquired two land plots in St Petersburg. Since the beginning of the year, the Company has acquired new projects with a total NSA of 239 ths sqm. As part of the implementation of its business development strategy, Etalon Group plans to add several more projects to its portfolio in St Petersburg and the Moscow Metropolitan Area by the end of 2021. Funds from the Company's secondary placement of securities carried out in May of this year will provide one of the sources of financing for the new acquisitions.
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
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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.