LenSpetsSMU issues IFRS consolidated statements for 6M2011

28.09.2011

Main indices according to the results for 6M2010:

­ Total assets of LenSpetsSMU Group stand at 35.1 billion rub (+2.4% for 31.12.2010),

­ Equity attributable to majority shareholders of the Group increased by 18.3% over half a year from 10.2 billion rub to 12.0 billion rub, while the Total equity of the Group (incl. Minority interests) reached 13.2 billion rub,

­ Financial debt (credits and loans) remained approximately the same (9.2 billion rub),

­ Net financial debt (credits and loans less cash, deposits, monetary funds and their equivalents) decreased by 2.1 % to 6.3 billion rub,

­ Revenue for the 6M2011 stands 7.1 billion rub (-17.3% for 6M2010),

­ EBITDA decreased from 3.7 billion rub in 1H2010 to 2.4 billion rub in 1H2011,

­ Net profit decreased by 24.3% from 2.5 to 1.9 billion rub.

For 6M2011 Group's Financial debt increased by less than 1%, the financial soundness ratios demonstrate a positive trend and are among the best in the industry: the Net financial debt decreased by 2.1%, the ratio of Financial debt to Equity decreased from 0.81 to 0.70, while the total Equity share in Total assets of the Group during the same period increased from 32.8% to 37.5%. EBITDA margin (34.5%) and net margin (27.1%) also remained at a high level.

The ratio of financial debt to EBITDA and the ratio of EBITDA to Interest payable (calculated on an annual basis) stand at 2.07 and 12.14, respectively.

Index

6M2011

2010

Change, %

Assets, thousand rub

35 111 416

34 294 937

+2.4%

Financial debt, thousand rub

9 244 405

9 163 955

+0.9%

Net financial debt, thousand rub

6 280 943

6 412 669

-2.1%

Advances received on principal activities, thousand rub

9 698 465

10 019 434

-3.2%

Equity, thousand rub

13 181 323

11 259 586

+17.1%

Financial debt / Equity

0.70

0.81

-

Financial debt / Assets

26.3%

26.7%

-

Equity / Assets

37.5%

32.8%

-

Index

6M2011

6M2010

Change, %

Revenue, thousand rub

7 080 786

8 557 867

-17.3%

Gross profit, thousand rub

3 090 668

3 982 640

-22.4%

Interest payable, thousand rub

151 225

390 478

-61.3%

Net profit, thousand rub

1 921 737

2 539 070

-24.3%

EBITDA, thousand rub

2 441 681

3 667 510

-33.4%

EBITDA margin

34.3%

42.9%

-

Net margin

27.1%

29.7%

-

Financial debt to EBITDA (annual basis)

2.07

0.89

-

EBITDA / Interest payable (annual basis)

12.14

7.71

-

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

CONTACT DETAILS:

Elena Kazakova, Head of Public Relations

tel. (812) 348-21-25, e-mail: Elena.Kazakova@etalongroup.com

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: Viktor.Vasenev@etalongroup.com