Etalon Group - Expanding Portfolio for Robust Growth
B 1Grou
Solid trading results in 1H 2011
New sales contracts are 41% up Y-o-Y
Indication of solid revenue for 2011
126
122
272
278
86
104
192
+41%
YOY
147
+10%
YOY
2H 2010
Transferred to customers, ths sqm
1H 2010
2H 2010
1H 2011
1H 2010
New sales, ths sqm
New sales, mn USD
Source: management accounts
Source: management accounts
Significant increase in deliveries
413
323
2008
2009
209
2010
59
+113%
YOY
150
124
1H 2010
2H 2010
1H 2011
Delivered NSA, ths sqm
Source: management accounts
Average USD/RUB fx rate 6 m 2010
30.05
Average USD/RUB fx rate 6 m 2011
28.56
114
1H 2011
In 2Q 2011 Etalon continued to make solid progress with new sales
contracts
Etalon believes that the primary driver for increase in new sales is
continued recovery in residential mass market segment in target
cities, combined with high level of consumer confidence associated
with Etalon brand and its long term track record
Exit of no-name or small-scale developers post-crisis also driving
consistently improving sales
In 2Q 2011 additional efforts made on large apartments (3 rooms/2
bedrooms) with lower-than-average selling prices per sqm. Large
apartments were harder to sell during the crisis, but improving market
conditions enabled Etalon to convert inventories into sales and cash
flow
Transfers to customers demonstrated solid growth both in 1Q and 2Q
and are indicative both of construction and pre-sales processes
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