PJSC LSR Group
PJSC LSR Group
- ISIN: US50218G2066
- Land: Russia
Nachricht vom 15.10.2019 | 12:15
PJSC LSR Group: LSR Group reports its operating results for the nine months of 2019
PJSC LSR Group (LSRG)
Strong performance in Moscow with sales up 22% YoY
and a 17% YoY increase in average price per sqm
St. Petersburg, Russia - 15 October 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 operating results for the third quarter and the nine months ended 30 September 2019.
9M 2019 Highlights:
Significant events after the end of the reporting period:
Andrey Molchanov, CEO of PJSC LSR Group, commented:
"LSR Group's results for the first nine months of 2019 reflect the strong sales performance of our Moscow portfolio, with sales up 22% in RUB terms. This was driven by robust sales in our flagship ZILART project, coupled with a revised pricing strategy which saw the average price increase by 17% year-on-year.
We are very pleased with the pace of our transition to the new housing legislation. To that end, we have launched sales under the new rules in Yekaterinburg and secured strong access to liquidity. We expect the changes in regulation to have a favourable impact on the competitive environment and we remain optimistic about our near and mid-term prospects."
The Company's operating results for the first nine months of 2019 will be discussed during the Q&A session following the publication of the FY2019 operating results, in January 2020. Dial in details will be provided prior to the call.
Full version of the press release is available in PDF-format (link below) and on www.lsrgroup.ru
For more information please contact:
Director of Investor Relations and Sustainable Development
About LSR Group:
PJSC LSR Group is one of Russia's leading residential real estate developers and building materials producers. Founded in 1993, the business of LSR Group is concentrated in the five largest regions of Russia - Moscow, St. Petersburg, Yekaterinburg, the Leningrad and Moscow regions. The main business areas of the Company are real estate development and construction and production of building materials. LSR Group carries out projects in all segments of residential real estate market: mass market, business and elite.
In accordance with its audited IFRS consolidated financial statements for 2018, LSR Group had revenue of RUB146.4 billion, Adjusted EBITDA of RUB36.4 billion and Net Profit of RUB16.2 billion. As of 31 December 2018 (according to Knight Frank), the net sellable area of projects in LSR Group's real estate portfolio amounted to 7.8 million m2 with a market value of RUB186 billion.
Ordinary shares of the Company are traded on the Moscow Exchange (MOEX: LSRG) and GDRs representing its ordinary shares are traded on the London Stock Exchange (LSE: LSRG).
 The year-on-year percentage change is provided for sales excluding parking lots
Document title: LSR Group 3q/9m Operating Results
|OAM Categories:||2.2. Inside information|
|EQS News ID:||890317|
|End of Announcement||EQS News Service|
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