PJSC LSR Group (LSRG)
PJSC LSR Group: LSR Group reports its operating results for the first
quarter of 2020
13-May-2020 / 11:00 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
LSR Group reports its operating results for the first quarter of 2020
Strong sales performance with new contract sales up 19% year-on-year in RUB
terms
and the average price growth of 13% year-on-year.
St. Petersburg, Russia - 13 May 2020 - 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 first quarter ended 31 March 2020.
Q1 2020 Highlights:
? New contract sales increased by 19% to RUB 23 billion, or 198 th. sqm;
? Average price per sqm increased by 13% year-on-year reaching RUB
127,000;
? Share of mortgage sales amounted to 51%, compared to 49% in the first
quarter of 2019;
? Completions reached 54 th. sqm of net sellable area, up 33% year-on-year
and in line with the project schedule;
? New 101 th. sqm of net sellable area launched in the reporting period;
? Solid performance of the building materials segment;
? LSR Group announced a buyback programme in the amount of up to RUB 5
billion.
Andrey Molchanov, CEO of PJSC LSR Group, commented:
"LSR Group delivered strong results in the first quarter of 2020. New
contract sales on the group level increased by 19% year-on-year as a result
of our well-structured market offer that meets customer needs and
requirements. Price growth continued, with the average price increasing 13%
year-on-year.
Saint Petersburg development business unit performed exceptionally well,
with sales up 32% year-on year, while Moscow business unit continued to
deliver strong results, achieving a 24% sales increase in the business
market segment."
***
Full version of the press release is available in PDF-format (link below)
and on www.lsrgroup.ru [1]
***
For more information please contact:
Igor Tsoy
Director of Investor Relations and Sustainable Development
E-mail: IR@lsrgroup.ru
About LSR Group:
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 production of building materials and real estate
development and construction. LSR Group's main operations are located in St.
Petersburg and the Leningrad Region, Moscow and the Moscow region and
Yekaterinburg. As at 31 December 2019 (according to Knight Frank), the net
sellable area of projects in LSR Group's real estate portfolio amounts to
7.6 million m2 with the market value of RUB 207 billion.
In accordance with its audited IFRS consolidated financial statements for
2019, LSR Group reported revenue of RUB110.4 billion, Adjusted EBITDA of
RUB21.0 billion and Net Profit of RUB7.5 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).
www.lsrgroup.ru [1]
Attachment
Document title: LSR Operating results Q1 2020
Document: https://eqs-cockpit.com/c/fncls.ssp?u=ILXXEPMRBC [2]
ISIN: US50218G2066
Category Code: QRF
TIDM: LSRG
LEI Code: 25340067LEEMJ79K8X43
OAM Categories: 2.2. Inside information
Sequence No.: 63395
EQS News ID: 1043351
End of Announcement EQS News Service
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2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=e501efadf02cd9c46f873bc4cfefaf22&application_id=1043351&site_id=vwd&application_name=news
(END) Dow Jones Newswires
May 13, 2020 05:00 ET (09:00 GMT)
