Портал закупок Subscriprion
Choose apartment

Media center

LSR Group announces financial results for the full year 2018

19 March 2019

PJSC LSR Group («LSR» or the «Company») (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces its audited consolidated IFRS results for the full year ended 31 December 2018.


FY2018 Financial Highlights:

• Operating cash flow of RUB 30,248 million, a nine-fold increase year-on-year;
• Land bank valued at RUB 186 billion with a 10% year-on-year increase in assessed value per sqm to RUB 23.7 thousand;
• Net debt/ adjusted EBITDA ratio decreased from 1.17 in 2017 to 0.83 in 2018;
• Net debt decreased by 30% year-on-year to RUB 30,290 million (total debt: RUB 86,088 million);
• Sales revenue increased by 6% year-on-year to RUB 146,376 million;
• Adjusted EBITDA totaled RUB 36,400 million, remaining at the same level as in 2017, with an adjusted EBITDA margin of 25%;
• Profit for the year up 2% year-on-year to RUB 16,230 million;
• Earnings per share increased by 3% year-on-year to RUB 159.33.

Other Highlights:

• New contract sales totaled 1,002 th. sqm, up 44% year-on-year, reaching RUB 93 billion in value, an increase of 38% year-on-year.
• Total completions of 1,009 th. sqm of net sellable area, of which 144 th. sqm were completions relating to the ZILART project in Moscow.
• January 2019 sales volume reached RUB 5.3 billion, increasing by 38% compared to January last year, while February sales amounted to RUB 6.5 billion.
• The sale of 100% of LSR. Construction — Moscow and the sale of 100% of JSC PO Barrikada, a reinforced concrete production facility in the Leningrad region. The assets disposal reflects the Company’s strategy to refocus efforts on a more profitable business.
• The only Russian construction company to release a Sustainability Report in line with international GRI guidelines. In February 2019, LSR Group became the first Russian real estate developer to join the UN Global Compact. The move reflects LSR’s focus on aligning sustainable long-term growth with the highest levels of ethics.
• Approval of a new Long-Term Motivation Programme for key employees aimed at helping LSR Group achieve its long-term financial and strategic objectives, while aligning the core management team’s interests with those of LSR’s shareholders.
• Maxim Sokolov appointed CEO of the Company, with Andrey Nesterenko appointed as Independent Director, increasing the number of independent directors on the Board from three to four, thus, forming a majority representation.

Andrey Molchanov, Chairman of the Board of Directors of PJSC LSR Group, commented:

«2018 was a milestone year for us — not only did LSR Group celebrate its 25th anniversary, we also delivered a solid set of results on the back of record high new contract sales of over one million square meters valued at RUB 93 billion. Other key highlights included a more profitable product mix and strong cash collections. Our strong financial position was bolstered by a 30% reduction in net debt to RUB 30.3 billion, and a net debt/ adjusted EBITDA ratio of 0.83. We are also delighted to report a 10% increase in the value per square metre of our landbank, as a result of a higher quality portfolio.

We are looking ahead to 2019 with optimism given our strategic product offering, the strength of our balance sheet and our flexible capital resources which will help us capture growth and new development opportunities.»

 
Full version of the press release is available in PDF-format (link below) and on www.lsrgroup.ru 

For further information please contact:

Igor Tsoy
Director of Investor Relations and Sustainable Development
E-mail: IR@lsrgroup.ru 

Media Relations

LSR Group Press Service
Tel.: +7 812 333-11-11
E-mail: press@lsrgroup.ru 
www.lsrgroup.ru 

«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.



© 2013-2021 LSR Group. All rights reserved.
Warning request

В вашей версии Internet Explorer работа данного сайта не поддерживается.
Обновите Internet Explorer до последней версии.


© 2007-2019 LSR Group
x

News subscribe

Комменты отключены в стилях
*


*

















*


*

















* required fields
x
Комменты отключены в стилях
*


*

















x

DISCLAIMER – IMPORTANT

THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE IN GOOD FAITH AND ARE FOR INFORMATION PURPOSES ONLY.

THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS IN THE UNITED STATES, OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION.


The materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan or in any jurisdiction in which such offers or sales are unlawful. Any securities issued in connection with an offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state, province, territory, county or jurisdiction of the United States, Australia, Canada or Japan. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States.

The materials are only addressed to and directed at persons in member states of the European Economic Area who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) ("Qualified Investors"). In addition, in the United Kingdom, the materials are being made available only to, and are directed only at, Qualified Investors who are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or who are high net worth entities falling within Article 49(2)(a)-(d) of the Order and other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which the materials relate is available only to relevant persons in the United Kingdom and Qualified Investors in any member state of the European Economic Area other than the United Kingdom, and will only be engaged with such persons. Other persons should not rely or act upon the materials or any of their contents.

If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage. These materials must not be, released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan or any jurisdiction in which such offers or sales are unlawful. Persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from the United States, Australia, Canada or Japan.

Confirmation of understanding and acceptance of disclaimer

I warrant that I am not located in the United States and am not resident or located in Australia, Canada, Japan or any other jurisdiction where accessing these materials is unlawful, and I agree that I will not transmit or otherwise send any materials contained in this website to any person in the United States, Australia, Canada, Japan or any other territory where to do so would breach applicable local law or regulation.

I have read and understood the disclaimer set out above. I understand that it may affect my rights and I agree to be bound by its terms. I confirm that I am permitted to proceed to electronic versions of the materials.

 
 
x

ACCESS LIMITATION

We regret that, due to regulatory restrictions, we are unable to provide you with access to this section of our website.

 
 
x

IMPORTANT INFORMATION

You have indicated that you are located in the United States. These materials are not intended for, directed at or accessible by persons located in the United States. However, persons located in the United States that make the below certifications can access these materials. Please read the certifications below carefully and provide the information requested in order to access these materials. If you cannot make the below certifications, please exit this page.

Certifications

“We are a “qualified institutional buyer” (a "QIB") as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Further, if we are acting as a fiduciary or agent for one or more investor accounts, (a) each such account is a QIB, (b) we have investment discretion with respect to each account, and (c) we have full power and authority to make the representations, warranties, agreements and acknowledgements herein on behalf of each such account.”

“We acknowledge that the materials relate to a transaction that is not subject to, or is only available in the United States pursuant to an exemption from, the registration requirements of the Securities Act.”

By clicking “I AGREE” below, you are certifying that the certifications and information provided are accurate and that you would like to access the materials. You agree that the materials you access are for your own use and will not be distributed to any person outside of your organisation.