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LSR Group reports its operating results for the first quarter of 2019

15 April 2019

PJSC LSR Group (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces its operating results for the first quarter ended 31 March 2019. New contract sales increased by 22% YoY in RUB terms with Moscow sales surging 90% YoY.

 

Q1 2019 Highlights:

 

· New contract sales reached RUB 19 billion, up 22% year-on-year, or 187 th. sqm;

· Average price per sqm increased by 20% year-on-year reaching RUB 113,000;

· Share of mortgage sales amounted to 49% compared to 54% in Q1 2018;

· Completions reached 40 th. sqm of net sellable area, up 160% year-on-year, in line with the project schedule;

· New 194 th. sqm of net sellable area launched in the reporting quarter, representing a 39% year-on-year increase;

· New contract sales in Moscow reflect robust year-on-year sales growth of 90%, underpinned by the performance of LSR’s ZILART project (+86% year-on-year), while in Saint-Petersburg, new contract sales grew by 2% year-on-year, reflecting higher demand in the high-end residential complex «Russky Dom» (+61% year-on-year), as well as in the «Civilisation» residential complex (+52% year-on-year) and «Novaya Okhta» residential complex (+125% year-on-year);

· Solid performance by the Building Materials business segment: sales of ready-mix concrete and bricks grew by 14% year-on-year and 17% year-on-year, respectively.

 

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

 

«We have started the year with solid performance, which is down to our well-structured offer that meets market needs and customer requirements.

In the first quarter, our new contract sales grew by 22% year-on-year to RUB 19 billion or 187 thousand square meters. This mainly reflects the success of our ZILART project in Moscow, as well as the Company’s strategic product offering. Our Building Materials business segment yet again demonstrated solid results, with an increase in sales of ready-mix concrete and bricks.

Looking ahead, we believe we are well positioned to execute on our strategy and maintain our leading market positions in key regions.»

 

Full version of the press release >> >>

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
E-mail: press@lsrgroup.ru
Tel.: +7 (812) 333 11 11 
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.



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