REG - Etalon Group PLC - Etalon Announces Record Monthly Performance

EtalonAnnouncement

07/12/2023 09:30

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RNS Number : 0263W  Etalon Group PLC  07 December 2023

7 December 2023

 

Etalon Group Announces Record-Setting Monthly Performance

 

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest
and longest-established development and construction companies, announces that
its new contract sales in November amounted to RUB 14.8 billion, a new record
for monthly sales since its IPO. In terms of floor space, sales amounted to 73
ths sqm, the Company's best monthly result in the last three years.

Commenting on the Company's performance in November 2023, Etalon Group CEO
Gennadiy Shcherbina said:

 

"We are pleased to note that sales continue to grow. Moreover, November was a
record-setting month for us in terms of the total value of new contract sales
and one of our best months when it comes to the amount of floor space sold.

 

"We believe our robust operational performance has been due primarily to our
timely and rapid expansion into regional markets, where sales have increased
severalfold. An additional factor driving performance is the movement of some
buyers from the secondary to the primary market following the increase in the
key rate and in interest rates for market-based mortgage programmes.

 

"In addition to expanding the geography and scale of our business, we focused
on resolving the trading-infrastructure issue our for GDR holders: we obtained
primary listing status on Moscow Exchange and put the issue of redomiciliation
to Russia to a shareholder vote. Our current capitalisation is well below our
assets' market value of RUB 288 billion, and we expect that the removal of
infrastructure-related risks and restrictions will help us put an end to the
Company's substantial undervaluation."

 

This and other announcements are available on the Etalon Group website:
https://www.etalongroup.com/investor-relations/investor-news/
(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 (mailto: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 8.9 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 were listed on the Main Market of the London Stock
Exchange on 20 April 2011 and have been 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.

 

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