Etalon Group increased revenue under IFRS by 10% in 2023 – Kommersant
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At the end of 2023, the developer Etalon Group increased its revenue under IFRS by 10% in annual terms, to RUB 88.8 billion. The developer received a net loss of 3.370 billion rubles. against 13 billion rubles. net profit a year earlier, reports Interfax with reference to company data.
EBITDA increased by 10%, to RUB 18.1 billion. Consolidated gross profit increased by 6% to RUB 30 billion. The group’s net corporate debt amounted to RUB 37 billion. against 14.5 billion rubles. in 2022.
“Aggressive business growth is associated with high capital investments, which, against the backdrop of high interest rates, puts temporary pressure on net profit. At the same time, we expect that regional expansion will allow us to significantly increase business volumes in the coming years,” commented Chief Executive Officer Gennady Shcherbina.
In October 2023 “Etalon” signed agreement to change the depositary bank, transferring the GDR program under the management of Luxembourg RCS Issuer Services S.AR.L. In the same month the company added two vice presidents to the management team. Group Chief Executive Officer Gennady Shcherbina saidthat overall 2023 “was the best year in the company’s history in terms of sales.”
About the developer’s revenue last year – in the Kommersant material “The developers have placed their bets”.
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