Etalon Delivers Record Amount Real Estate in 2022
13 January 2023
Etalon Delivers Record Amount of Real Estate in 2022
Etalon Group (the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it delivered 735 ths sqm of net sellable area ("NSA") at 19 projects in 2022, a 74% increase year-on-year and a record for the Company.
A breakdown of deliveries by project is provided below:
2022 deliveries, NSA ths sqm
Schastye na Lomonosovskom
Schastye na Semeyonovskoy
Moscow Gates II
House on Blyukhera
Total, St Petersburg
Sverdlovsk region: Baltym Park
Total, other regions
Commenting on the high amount of NSA delivered, Etalon Group CEO Gennadiy Shcherbina said:
"In 2022, we completed the construction of almost 735 ths sqm of NSA, setting a new record for deliveries and considerably bolstering our position among Russia's five largest developers. Over the past few years, we have expanded our project portfolio and geographic footprint considerably: we are building new projects in five promising regional markets, and in May 2022 we completed a lucrative deal to acquire YIT Russia. Thanks to intense organic and inorganic growth, we were able to deliver a record amount of real estate by the end of the year, including in new regions - Kazan, Ekaterinburg and the Sverdlovsk region. We expect our efforts to improve business efficiency in our key markets and our successful launch in regions beyond Moscow and St Petersburg to provide the impetus for further expansion and to enable us to achieve our ambitious strategic goals."
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
T: +44 (0) 20 8123 1328
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. 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 commissioned 8.6 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 assets comprise 27 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.0 mln sqm, as well as a construction and maintenance division. Colliers International valued the Company's total assets at RUB 270 billion as of 31 December 2021.
In 2021, Etalon Group's new contract sales totalled 446 ths sqm, or RUB 84.4 billion. The Company's revenue in 2021 amounted to RUB 87.1 billion, with EBITDA of RUB 17.9 billion.
Etalon Group's GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.