Setl Group Publishes IFRS Financial Results
2019 may 06
Based on the 2018 results, the Setl Group holding’s IFRS consolidated revenue was 92.2 billion rubles, and its net profit, 5.8 billion rubles. The holding notes the growth of several important indicators of consolidated statements, and in particular: · the corrected EBITDA was 15.5 billion rubles for 2018, increasing by 16.7%, · the Setl Group equity grew 1.5 times in 2018, amounting to 8.9 billion rubles, · the gross profit margin calculated as gross profit to revenue ratio was 22.5% for 2018 against 19.6% for 2017. The statements audit was carried out by KPMG. AS recommended by the auditors, the holding changed the approach of revenue recognition by the construction materials supply block in 2018. The Group decided to show the revenue from construction materials sales and the appropriate part of contract work in aggregated form, as required by the standard IFRS 15. It is to be recalled that in 2018, the Setl Group holding increased its housing sales by 32.8% in monetary terms and by 27.8% in terms of contracts signed as compared to 2017. The total area of commissioned Setl Group projects was 1.289 million sq. m.
Companies of Setl Group holding