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LSR Group

July 17, 2019

LSR Group reports its operating results for the first half of 2019

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 second quarter and the first half ended 30 June 2019.

1H 2019 Highlights:

  • New contract sales reached RUB 38 billion, up 6% year-on-year, or 368 th. sqm;
  • Average price per sqm increased by 18% year-on-year reaching RUB 114,000.;
  • Share of mortgage sales amounted to 48%;
  • Completions reached 160 th. sqm of net sellable area, up 31% year-on-year, in line with the project schedule;
  • New 603 th. sqm of net sellable area launched in the reporting period;
  • In line with LSR’s strategy to diversify its development assets in the Moscow region, the Company sold a 50% stake in its ZILYUG redevelopment project;
  • Launched sale of apartments in a new business-class residential estate ‘Morskaya Naberezhnaya’ in St. Petersburg. Located in a 34-hectare land plot, the residential complex has a total area of 886 th. sqm, with a living space of just over 503 th. sqm;
  • Signed a strategic partnership agreement with PJSC Rostelecom to promote smart information services in the construction industry.

Andrey Molchanov, CEO of PJSC LSR Group, commented:

«LSR Group has delivered strong set of results in the first six months of 2019 underlying strengths of our businesses and product offering.

In the reporting period, our new contract sales increased by 6% year-on-year to RUB 38 billion or 368 thousand square meters. This mainly reflects the success of our Moscow business and our well-structured offer that meets customer demand.

A great deal of forward planning has been carried out since the new housing legislation was introduced last year and LSR has successfully risen to the challenge and responded to its demands. As a result of these efforts, LSR is well placed for a smooth transition to operate in the new regulatory environment.

Looking ahead, we believe we are well positioned to execute on our strategy and maintain our leading market positions in key regions.»

Full version of the press release >>

For further information please contact:
Igor Tsoy
Director of Investor Relations and Sustainable Development

Media Relations

LSR Group Press Service
Tel.: +7 (812) 333 11 11 



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