Page 151 - RusRPTOct22

9.2.4 Construction & Real estate corporate news
Etalon released 1H22 IFRS results, impacted by one-off gain from YIT Russia acquisition, yet other lines reflected impact from high mortgage rates and limited supply.
Revenues were affected by lower offering and reached Rb32.7bn (-18% y/y), while residential revenue was at Rb27.7bn (-16% y/y), with growth in St Petersburg and a decrease in Moscow. Pre-PPA adj residential gross margin stayed strong in 1H22 – 35%, while declined to 32% in total.
EBITDA pre PPA declined to Rb6.2bn (-44% y/y) with margin yet strong at 19%.
YIT contributed Rb1.0bn to revenue and -Rb22mn loss from date of acquisition to 30 June (1 month). YIT Russia mostly focuses on mid-market with 19 projects in five different Russian regions: the Moscow metropolitan area, St Petersburg, the Sverdlovsk region, Kazan and Tyumen with UNSA of 0.6mn sqm.
Financial position remains strong post YIT acquisition with Net corporate debt/Pre-PPA EBITDA at 0.15x in 1H22 and Rb96.6bn total debt (Rb41.7bn corporate, Rb54.9bn project debt).
9.2.5 Retail corporate news
• X5 Group
X5 Group plans to enter the Far Eastern market and open around 100 stores in 2023, the retailer’s president Ekaterina Lobacheva told TASS at the Eastern Economic Forum (EEF). "X5 is not represented in the Far East so far. We plan to get here shortly. We have signed an agreement with the Russian Far East and Arctic Development Corporation and we plan to open stores in four regions: in Primorye, the Khabarovsk and Zabaikalye Regions, as well as in the Amur Region. In total it is planned to open around 100 stores in 2023," she said.
9.2.7 TMT corporate news
151 RUSSIA Country Report October 2022 www.intellinews.com
● Yandex
Russian internet major Yandex is boosting the capacity of its express grocery delivery service Yandex.Lavka in the Moscow districts by launching darkstores with up to 500 square metres (sqm), Vedomosti daily reported. This would more than double the average darkstore area of 150-200 sqm.