30 Aug 2016 07:00
LSR Group announces 1H 2016 financial results
In the first half of 2016 LSR Group generated
RUB 31,618m of revenues and RUB 4,486m of EBITDA
· Sales revenue increased by 10%, up to RUB 31,618m
· EBITDA decreased by 22%, down to RUB 4,486m
· EBITDA margin was 14%
· Profit for the period decreased by 72%, down to RUB 1,100m
· Earnings per share amounted to RUB 10.87
· Net debt/EBITDA ratio was 1.09
Andrey Molchanov, CEO and Chairman of the Executive Committee of LSR Group comments:
The first half of 2016 brought many positive changes for us. The real estate market demonstrated recovery on the back of bottoming out economic environment and mortgage subsidy program. We have successfully expanded our presence in Moscow and saw increasing demand in our projects in the capital. We have strengthened our reputation as a reliable homebuilder of mass-market and elite projects in the home region. We have implemented a number of important organizational and structural changes, including the approval of the new financial strategy, which are focused on delivering sustainable predictable growth over the long term. We are open to change, and are committed to maximizing shareholder value.
Full version of the press-release is available in pdf-formathttp://www.rns-pdf.londonstockexchange.com/rns/3572I_-2016-8-29.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 real estate development, prefab construction and production of building materials. LSR Group's main operations are located in St. Petersburg, Moscow and Yekaterinburg. As of December 31, 2015 (according to Knight Frank), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 9.3m m2 with the market value of RUB 136bn. In 2015, the sales revenue of LSR Group amounted to RUB 86,830m (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
E-mail: press@lsrgroup.ru
www.lsrgroup.ru
LSR Group Investor Relations
E-mail: ir@lsrgroup.ru