CJSC SSMO LenSpetsSMU issues Q3 2011 RAS statements

27.10.2011

CJSC SSMO LenSpetsSMU, Etalon Group’s flagship real estate developer, has issued its financial statements for Q3 2011 in line with Russian Accounting Standards.

Year-on-year, the company’s assets have increased by 2.9% to 40.4bn roubles, with credits and loans increasing 2.3 times. The leverage ratio in the asset value remains at almost the same level (1.2 in Q3 2011 vs. 1.1 in Q3 2010). Over the same period, equity has increased from 4.8bn roubles to 10bn roubles (+108.0%).

The revenue for 9M2011 amounted to 13.3 bn rub., 1.4 times as much as the same index for 9M2010.

Profitability indices are close to record levels with the gross margin for the reporting period at 47.8% and the net margin at 22.7% (37.2% and 20.3% for 9M2010, respectively).

Index

Q3 2011

Q3 2010

Change, %

Assets, thousand rub

40 392 887

39 269 728

+2.9

Construction in progress, thousand rub

8 898 965

8 473 494

+5.0

Cash and cash equivalents, thousand rub

727 521

1 716 055

-57.6

Credits and loans, thousand rub

12 053 187

5 296 582

+127.6

Net debt, thousand rub

11 325 666

3 580 527

+216.3

Capital and reserves, thousand rub

9 984 578

4 800 381

+108.0

Leverage, times

1.2x

1.1х

-

Credits and loans / Assets

29.8%

13.5%

-

Revenue, thousand rub

13 269 111

9 375 630

+41.5

Gross profit, thousand rub

6 340 352

3 483 615

+82.0

Net profit, thousand rub

3 016 785

1 904 356

+58.4

Gross margin

47.8%

37.2%

-

Net margin

22.7%

20.3%

-

All statements are available on the corporate website.

CONTACTDETAILS:

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