OREANDA-NEWS. August 28, 2014. Sales revenue increased by 55%, up to RUB 32,408m

EBITDA increased by 87%, up to RUB 5,357m

EBITDA margin was 17%

Total comprehensive income was RUB 1,116m

Earnings per share amounted to RUB 10.22

Total debt increased by 4%, up to RUB 35,315m

Net debt/EBITDA ratio decreased from 2.40 to 1.46

Aleksandr Vakhmistrov, CEO and Chairman of the Executive Committee of LSR Group comments:

During the first six month of this year the company saw the increase of all our key financial indicators. Our revenue increased by 55%, up to RUB 32,408m. EBITDA grew by 87%, up to RUB 5,357m. EBITDA margin was 17%. The company’s total comprehensive income amounted to RUB 1,116m. Net debt decreased by 26% to RUB 20.7bn. Net debt/EBITDA ratio decreased from 2.4 to 1.46.

Starting from January 1, 2014 we implemented a new accounting policy on recognition of the real estate development sales revenue. According to the new policy revenue for the full value of the real estate already contracted is recognised on the date when commissioning certificate for the building is issued. To ensure data comparability we restated the previously issued financial statement for 1H 2013.

We are happy with the results achieved in 1H 2014 and definitely optimistic about our future.