JSC Open Investments
JSC Open Investments: JSC OPIN announces quarterly sales results for 9 months 2011
JSC Open Investments / Key word(s): Quarter Results/Quarter Results THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA JSC OPIN ANNOUNCES SALES RESULTS FOR NINE MONTHS ENDED 30 SEPTEMBER 2011 Joint Stock Company ‘Open Investments’ (JSC ‘OPIN’ or the ‘Company’) (BLOOMBERG: RTS – OPIN.RU; MICEX – OPIN.RM) the first publicly traded real estate developer in Russia, today announces its sales results for the nine months ended 30 September 2011. Highlights – For nine months the Company signed 233 contracts for 29,000 sq. m of residential real estate and 2,920 are (100 sq. m) of land all totalling US$120.7 million. In Q3 the total of 83 contracts were signed totalling US$45.0 million and accounting for 37% of the YTD volume. Out of total contracted revenue Pavlovo brought US$63.8 million, Pestovo US$31.2 million and Martemyanovo US$25.7 million – Significantly increased the number of mortgage deals due to initiation of special lending programs for customers with a number of banks. During 9 months the Company signed 36 mortgage contracts totalling US$13.8 million, which represented 11% of total YTD sales. Share of mortgage deals in Q3 2011 accounted for 22% (23 contracts signed) of total sales for the quarter and was equal to US$10.7 million – For 9 months the share of contracts with deferred payment terms (on average equal to six months) was 22% of total sales dropping to 14% in Q3 2011 Full version of report can be found In English at: http://opin.ru/eng/investors/finance/reports.html In Russian at: http://opin.ru/investors/finance/reports.html For further information, please contact: Investors: Media: About OPIN Established in 2002, JSC OPIN is one of the leading real estate development companies operating in Russia. OPIN is focused on the development of master-planned multi-format residential communities and the operation of high-quality commercial properties in Moscow and the Moscow Region. Having completed nearly 200,000 sq. m of commercial space and 500 ha of developed master-planned communities, today OPIN is a well-recognised brand in the domestic market, known for the market-leading quality of the projects it delivers. Through its property expertise and successful track record, the Company’s strategic goal is to become a platform for the consolidation of assets in the real estate industry in Russia. As of 30 June 2011, OPIN’s total assets were US$1.86 billion comprising predominantly of residential developments, land bank and commercial real estate. In 2010 OPIN recorded total revenue of US$151 million and during first six months of 2011 – US$115 million. The Company’s majority shareholder is ONEXIM Holdings Ltd, a major private investment group in the CIS region with a diversified portfolio of assets in mining, real estate, financial services, media, energy production and high-tech. In November 2004 OPIN was successfully admitted to the RTS stock exchange and since then has carried out six secondary public offerings, raising nearly US$2 billion. Further details can be found on the OPIN website at www.opin.ru End of Corporate News 17.10.2011 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. EquityStory.RS, LLC’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | JSC Open Investments | |
Tverskoy blvr, 13/1 | ||
123104 Moscow | ||
Russia | ||
Phone: | + 7 495 363 22 11 | |
E-mail: | info@opin.ru | |
Internet: | www.opin.ru | |
ISIN: | RU000A0DJ9B4 | |
End of News | EquityStory.RS, LLC News-Service |
142349 17.10.2011 |