The total value of the Etalon Group's assets reached RUB 303 billion (against RUB 288 billion as of December 31, 2022), which is equivalent to RUB 789 per global depositary receipt (GDR) of the company. This is stated in the company's message.
The total selling area of the Etalon Group's project portfolio amounted to 5.9 million square meters. m at the end of 2023. The market value of real estate in 32 current projects, completed residential and commercial facilities, as well as the value of land plots were estimated by Nikoliers at 286 billion rubles (against 272 billion rubles as of December 31, 2022).
The perimeter of asset valuation also includes the combined production unit of the Etalon Group, which includes its own general contracting and subcontracting organizations, service businesses, as well as IT companies and manufacturing enterprises, including the production of modules. The market value of the production unit amounted to 16.5 billion rubles.
The Etalon Group was founded in 1987. The Group focuses on residential real estate for the middle class in Moscow, the Moscow region and St. Petersburg. In 2021, the company launched a regional expansion program and entered the market of Omsk, Novosibirsk region, Yekaterinburg, Tyumen and Kazan with new projects.
JSC GC Etalon, as of the end of 2022, belongs to the Cyprus Etalon Groupe PLC, the largest shareholder of which is AFK Sistema (48.8%).
The revenue of Etalon Group PLC at the consolidated level for 2023 increased by 10% to 88.8 billion rubles. Gross profit at the consolidated level increased by 6% to RUB 30 billion. Earnings before interest, taxes and depreciation (EBITDA) amounted to RUB 18.1 billion, an increase of 10%. The net loss before the distribution of the cost of acquisition of assets (PPA) amounted to 2.3 billion rubles.
