LenSpetsSMU issues statements according to IFRS for 2009

17.05.2010

Main indices according to the results for 2009:

- Total assets of LenSpetsSMU Group stands at 34.2 billion rub (-5.1% for 31.12.2008 – 36.1 billion rub),

- Financial debt (credits and loans) decreased by 8.2 % – from 6.6 billion rub (31.12.2008) to 6.1 billion rub (31.12.2009),

- Net financial debt (credits and loans less deposits, monetary funds and their equivalents) decreased by 24.9 % – from 5.2 billion rub to 3.9 billion rub for the same period,

- Equity increased 2.1 times over the year from 3.0 billion rub to 6.4 billion rub (+111.1%),

- Revenue for the 12 months of 2009 increased by 39.5 % compared with previous year and amounts to 18.2 billion rub.,

- Gross profit increased by 67.2 %,

- EBITDA increased by 59.4% (3.9 billion rub in 2008 against 6.2 billion rub in 2009),

- Net profit increased 1.9 times.

A marked decrease in Assets and Advances received on principal activity was caused by a revenue recognition according to the full completion method for those projects commissioned and delivered in 2008 (413 thousand m2) and partially in 2009 (324 thousand m2). As a result, the revenue in 2009 increased by almost 40 % (to 18.2 bn rub), and EBITDA increased by 60 % (up to 6.2 bn rub), whereas the EBITDA margin reached 33.9%.

The audit report, confirming that the consolidated financial statements present a fair view of the financial situation of the Group as of 31st December 2009, and of its financial performance results and its cash flow for the previous12 months in accordance with International Financial Reporting Standards was attached to the statements.

Index

2009

2008

Change, %

Assets, thousand rub

34 226 826

36 055 120

-5.1%

Financial debt, thousand rub

6 078 828

6 619 439

-8.2%

Net financial debt, thousand rub

3 921 073

5 219 935

-24.9%

Advances received on principal activities, thousand rub

15 167 357

20 078 920

-24.5%

Equity, thousand rub

6 433 105

3 048 046

+111.1%

Revenue, thousand rub

18 169 818

13 023 577

+39.5%

Gross profit, thousand rub

7 090 374

4 240 100

+67.2%

Interests payable, thousand rub

806 971

577 441

+39.1%

Net profit, thousand rub

3 576 295

1 839 264

+94.4%

EBITDA, thousand rub

6 159 835

3 863 394

+59.4%

EBITDA margin

33.9%

29.7%

-

Financial debt / EBITDA

0.99

1.71

-

Net financial debt / EBITDA

0.64

1.35

-

EBITDA / Interests payable

7.63

6.69

-

The statements are available on the company’s financial website.

CONTACT DETAILS:

Natalia Menzel, Head of Public Relations

tel. (812) 348-21-25, e-mail: menzel_n@lenspecsmu.ru

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru