27 Aug 2015 14:12
LSR Group announces 1H 2015 Financial results
In the first half of 2015 LSR Group generated RUB 28,741m of revenues and RUB 5,767m of EBITDA
· Sales revenue decreased by 11%, down to RUB 28,741m
· EBITDA increased by 8%, up to RUB 5,767m
· EBITDA margin increased from 17% to 20%
· Profit for the period increased by 274%, up to RUB 3,944m
· Earnings per share amounted to RUB 38.67
· Total debt decreased by 6%, down to RUB 25,822m
· Net debt/EBITDA ratio was 0.31
Andrey Molchanov, CEO and Chairman of the Executive Committee of LSR Group comments:
The first half of 2015 was a tough period for us, especially the first quarter when February saw the sharp decrease in new-contract sales, when the mortgage lending system was knocked out, when we faced the deficit of housing available for sale due to the abnormal demand of the Q4 of 2014. Today we see that things are getting back to normal and face the future with confidence. At this point the company has a very solid financial position and a reputation for reliability that we have been building for many years. We actively launch new projects to the market, which are attractive to customers and long awaited. We ensure their massive marketing support. We pay close attention to our project's timing and strive to fulfill our obligations even ahead of the schedule.
In 1H 2015, our revenue amounted to RUB 28.7bn, down 11% year-on-year. EBITDA grew by 8%, up to RUB 5.8bn. EBITDA margin reached 20%. The company's profit increased by 274%, up to almost RUB 4bn. The Net debt/EBITDA ratio was 0.31.
Full version of the press-release is available in pdf-format
http://www.rns-pdf.londonstockexchange.com/rns/3307X_-2015-8-27.pdf
Notes to Editors:
PJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and prefab construction. LSR Group's main operations are located in St. Petersburg, Moscow and Yekaterinburg. As of December 31, 2014 (according to Colliers International), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 10m m2 with the market value of RUB 135bn. In 2014, the sales revenue of LSR Group amounted to RUB 92,347m (IFRS). LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MOEX.
For more information please contact:
LSR Group Press Service
Tel.: +7 812 333 11 11
Fax: +7 812 458 83 72
E-mail: press@lsrgroup.ru
www.lsrgroup.ru