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Etalon profits grow by 60 pct

Rafał Ostrowski 09 April 2018

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał is a journalist at ‘Eurobuild CEE’. Previously he worked for Wydawnictwo Murator and for Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and published photo-reportages from his travels to Asia, where lived and worked for some time. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. He enjoys sailing, travelling and family life. For ‘Eurobuild CEE’ he specialises in eastern European markets and is responsible for the film direction of Eurobuild TV.

RUSSIA Etalon Group has recorded a profit of RUB 7.9 bln (EUR 108,000 mln) for 2017, up 61 pct y-o-y.
The gross profit grew by 47 pct to RUB 18 bln, while the consolidated revenue increased by 44 pct to RUB 70.6 bln. The company achieved record sales in 2017 in both volume and monetary terms with 512,000 sqm sold and revenues of RUB 50 bln. “Etalon Group achieved outstanding results in 2017, with revenue increasing by 44 pct year-on-year setting a new record for the company. The profit growth was even more impressive, with EBITDA and net income up by 81 pct and 61 pct y-o-y respectively,” said Viacheslav Zarenkov the Etalon Group CEO “I believe that today Etalon Group is well positioned to reward our shareholders with attractive dividends. The record net profit of RUB 6.679 bln for 2H 2017 will serve as the basis for a dividend recommendation under the company’s dividend policy, which aims to pay out between 40 pct and 70 pct of net profit,” he added.

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