– RUSSIA, Moscow / CYPRUS, Nicosia – Etalon Group Plc (MOEX: ETLN | LON: ETLN | FRA: 2ET), one of Russia’s largest and longest-established development and construction companies, today announced the appointment of Vitaly Pyltsov to its Board as an independent director.
Vitaly Pyltsov has also joined the Audit Committee as Chairman.
About Vitaly Pyltsov
Vitaly Pyltsov has 30 years of experience in finance, audit, and management, including strategy development at Russian and international companies. For more than 20 years Vitaly worked at the Russian and international offices of Ernst & Young in several positions including COO for the CIS region and Audit Partner. From 2013 to 2015 he was COO of the Russian Direct Investment Fund and Co-COO of the Russia-China Investment Fund, established by the RDIF and China Investment Corporation. Vitaly is an independent director and head of the Audit Committee at PJSC Renaissance Insurance Group.
Vitaly graduated with distinction from the Moscow Institute of Finance (now the Financial University Under the Government of the Russian Federation) in international economic relations, including study at Humboldt University in Berlin.
About Etalon Group
Founded in 1987, Etalon Group is one of the largest development and construction companies in Russia. The Company focuses on middle-class residential real estate in the Moscow and St Petersburg metropolitan areas. In 2021, the Company began a regional expansion program and has already launched new projects in Omsk, the Novosibirsk region as well as Ekaterinburg and Tyumen. With a 35-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7.9 million sqm of real estate.
Thanks to its integrated business model, Etalon Group can create added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.
Etalon Group’s total assets comprise 27 projects under development, unsold inventory at completed residential complexes and commercial properties, with a total unsold NSA of 6.0 million sqm, as well as a construction and maintenance division. Colliers International valued the Company’s total assets at RUB 270 billion as of 31 December 2021.
In 2021, Etalon Group’s new contract sales totaled 446 ths sqm, or RUB 84.4 billion. The Company’s revenue in 2020 amounted to RUB 78.7 billion, with an EBITDA of RUB 12.6 billion.
For more information: https://www.etalongroup.com/
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