Investor Presentaiton
At a glance
Presence in
rapidly
growing
markets
Dominant player in "comfort class"
in Russia
◉ Leader in St Petersburg* real estate
market with ca. 11% market share (1)
Strong presence in Moscow* real
estate market
Liquidity
and credit
ratings
☐
Secure liquidity position supported
by pre-sales cash collections
Low leverage: 0.6x Net debt /
EBITDA as of 31.12.2010(3), Net
cash US$120 mln as of
31.12.2011
Credit rating by S&P's: B/Stable/B
(3)
Strong
delivery
3 mln sqm delivered since inception
in 1987
track record
24 years of construction &
development experience
◉ All stages of development cycle
Rapidly
expanding
projects
portfolio
☐
True
vertical
integration
◉ Large-scale multi-phase projects
Corporate
governance
◉ Country-wide sales network
Ticker
ETLN:LI
Market
capitalization
US$ 1,380 mln (23.01.2012)
Share price
US$ 4.68 (23.01.2012)
Portfolio composition
Total unsold NSA breakdown
14%
■ Projects portfolio focused on cash-
flow generation
Sufficient land bank to support
future recurring income. Land bank
secured to 2x delivery volume by
2012 and 4x by 2014
31%
55%
SPMA as of 31.12.2010 MMA as of 31.12.2010
Acquired in 2011
Fully accomplished Board of
Directors with appropriate
representation of interests of all
investor groups
■ Quarterly trading updates and
semi-annual financial reporting
14%
39%
45%
Residential under construction
Acquired in 2011
Residential design stage
Completed residential
Standing commercial
Source: JLL report as of 31.12.2010,
Company press releases
* St Petersburg metropolitan and Moscow metropolitan areas respectively
(1) Average annual market share of total residential completions in the private sector (excluding individual construction) between 2000 and 2010 in St. Petersburg; (2) Net debt as of
31.12.2010, EBITDA for 2010; based on audited consolidated IFRS accounts of Etalon Group; (3) 'B' long-term & 'B' short-term corporate credit ratings of SSMO LenSpets SMU with
'Stable' outlook (last reconfirmed on 10.01.2012);
on 10.0
②Etalon Group
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