PJSC LSR Group (LSRG)
St. Petersburg, Russia - 13 March 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 audited consolidated IFRS results for the full year ended 31 December 2019.
Other FY 2019 Highlights:
Andrey Molchanov, CEO of PJSC LSR Group, commented:
"LSR Group continues to demonstrate strength of its business and its market position as Russia's leading real estate developer.
Our sound financial position was further supported by strong operating cash flow generation of RUB 24.7 billion, driven by solid sales and cash collections.
With a substantial cash balance of RUB 66.9 billion, and the ability to develop a significant part of our current land bank without switching to escrow-backed sales, we secured a smooth transition to new legislative environment and expect the LSR Group to profit from new opportunities in light of ongoing market consolidation.
I am delighted to report a 15% increase in the sqm value of our land bank, now strengthened with new acquisitions that help further diversify and support our market offering.
We entered 2020 with optimism, clarity and financial strength while continuing to execute our strategy, thus securing leading market position in our key segments and regions."
Full version of the press release is available in PDF-format (link below) and on www.lsrgroup.ru
For further information, please visit www.lsrgroup.ru or contact:
Director of Investor Relations and Sustainable Development
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 Leningrad Region, Moscow and Moscow region and Yekaterinburg. As of 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).
 Adjusted cash flow from operations before income taxes and interest paid, including cash in escrow accounts received during the reporting period
 Cash balance, including cash in escrow accounts
 Including cash in escrow accounts
Document title: LSR Group financial results for the full year 2019
|OAM Categories:||1.1. Annual financial and audit reports|
|EQS News ID:||997025|
|End of Announcement||EQS News Service|