ETALON GROUP: 2Q17/1H17 Trading Update: Looking Good Overall
The 2Q17 results look fine. Etalon Group reported a solid 2Q17 trading update yesterday. Its new contract sales increased 10% YoY to RUB11.3bn in 2Q17 driven by a 22% increase in volumes to 122,427 sqm, and a 9% decline in average pricing to RUB92,676/sqm. Prices were under pressure due to changes in the sales mix: an increasing share of commercial real estate and parking plots, while the average apartment price declined 2.3% YoY and QoQ to RUB109,390/sqm. The share of mortgaged purchases jumped to 33% vs 22% for 1Q17 – an impressive shift, which is a result of falling mortgage rates and the new company sales team. Cash collections were flat YoY at RUB9.3bn.
Since its inception in 1991, ATON has built a reputation for combining in-depth local knowledge of the Russian market with the highest international standards in research, sales and trade execution. As a result, we have been able to attract many of the leading domestic and international institutional fund management groups as our clients. As one of the leading independent investment banks in Russia, we offer the full range of institutional brokerage service, including:
- Detailed fundamental analysis of economics, sectors and companies, with the widest coverage universe in Russia and the CIS;
- Timely trading ideas to help clients take advantage from short-term pricing discrepancies;
- Competitive prices and prompt execution of trades;
- An on-line platform providing easy access to all our research products and tools.
- Client-focused Service
- We employ state-of-the art technology to ensure the highest quality of investment services as well as the highest level of data protection.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.