PJSC LSR Group (LSRG)
LSR Group reports its operating results
for the fourth quarter and twelve months of FY 2020
The Group's sales increased by 12% YoY in monetary terms due to strong performance in St. Petersburg where sales up 27% YoY
St. Petersburg, Russia - 25 January 2021 - 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 fourth quarter and the twelve months ended 31 December 2020.
FY 2020 Highlights:
Key events during and after the reporting period:
Andrey Molchanov, CEO of PJSC LSR Group, commented:
"We delivered strong operating results for 2020, which were in line with our plans. Our sales increased by 12% in monetary terms, thanks to our unique product offering as well as a state-backed mortgage rate subsidy programme.
I am particularly pleased with the results in St. Petersburg, where sales were up 12% in square meters and 27% in monetary terms compared to the previous year. Our projects Tsvetnoy Gorod and Civilization demonstrated notable sales growth year-on-year in both the third and the fourth quarters, continuing to enjoy a high demand from customers.
Our further focus on profitability in the Moscow business-unit helped us to achieve solid sales in monetary terms despite a planned decline in square meter sales. In particular, we are pleased with the sales of our flagship project ZILART, where we recently launched two new buildings of premium segment and which was justly recognized as the best residential complex in Russia last year.
Overall, the results achieved and our leading position in the market allow us to look with confidence at the business prospects in 2021".
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 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 RUB 110.4 billion, Adjusted EBITDA of RUB 21.0 billion and Net Profit of RUB 7.5 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).
2.2. Inside information
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