OREANDA-NEWS. July 19, 2012. LSR Group (LSE: LSRG; MICEX-RTS: LSRG), one of the leading real estate developers and building materials producers in Russia, is publishing the trading update for the first half of 2012, reported the press-centre of LSR Group. 

In 1H 2012 in all regions of operations, we signed new contracts for the sale of 198 th m2, up 68% on 1H 2011. The total value of the contracts signed with our customers for the sale of apartments and other premises amounted to RUB 17.2bn, up 87% against 1H 2011.

In 1H 2012 in all regions of operations we completed 31 th m2 and transferred to customers 80 th m2.

Elite Real Estate in St. Petersburg
In 1H 2012, in the elite real estate segment in St. Petersburg, we entered into new contracts with customers for the sale of 34 th m2 of net sellable area of apartments and other premises, up 76% on 1H 2011. The total value of contracts for the sale of apartments and other premises in the first half of this year was RUB 6.2bn, up 97% on 1H 2011. In 1H 2012 we also sold 5 th m2 of commercial real estate.

During the reported period we transferred to our customers 3 th m2 of net sellable area of apartments and other premises and 5 th m2 of commercial real estate. There were no housing completions in 1H 2012 due to the projects schedule.

Mass market Real Estate in St. Petersburg
In 1H 2012 we entered into new contracts for the sale of 86 th m2 of mass market real estate, up 43% on our sales in 1H 2011. The total value of the contracts was RUB 6.7bn, up 58% year-on-year. The share of mortgage sales was 32% in the total number of contracts.

In 1H 2012 we transferred to our customers 50 th m2. There were no housing completions in 1H 2012 due to the projects schedule.

Real Estate in Moscow
In 1H 2012, in Moscow, we entered into new contracts with customers for the sale of 40 th m2 of net sellable area, up 375% on 1H 2011. The total value of the signed contracts was RUB 2.4bn, up 335% year-on-year. The share of mortgage sales was 45% in the total number of contracts.

We completed 24 th m2 of properties during the reported period in the residential complex Novoe Nakhabino. In 1H 2012 we transferred to our customers 7 th m2 of net sellable area.

Real Estate in Yekaterinburg
In 1H 2012, in Yekaterinburg, we entered into new contracts with customers for the sale of 33 th m2 of net sellable area (+25%). The total value of the signed contracts grew by 52% against 1H 2011 reaching almost RUB 2bn. The share of mortgage sales was 30% in the total number of contracts.

Over the period we transferred to the customers 15 th m2 and completed 6.7 th m2 in the residential complex "Perspektiva".

In 1H 2012, our business units in St. Petersburg, Moscow and Yekaterinburg transferred to customers 311 th m2 of panel housing (including sales of reinforced concrete panels in Yekaterinburg and Moscow), which is in accordance with the projects’ schedule.

Building Materials

Reinforced Concrete
In 1H 2012, we sold 204 th m3 of reinforced concrete products, up 14% on the same period of 2011. In particular, we sold 167 th m3 in St. Petersburg, 5 th m3 - in Moscow region and 33 th m3 - in Yekaterinburg.
In St. Petersburg we mainly supplied our reinforced concrete to industrial and infrastructure projects, including Western High-Speed Diameter and new terminal of Pulkovo Airport as well as to residential projects.

Ready-Mix Concrete
Ready-mix concrete sales were 659 th m3, up 16% on 1H 2011. In particular, we sold 444 th m3 in St. Petersburg and 216 th m3 - in Moscow region.
In 1H 2012, we supplied our ready-mix concrete mainly to large residential projects both in St. Petersburg and in Moscow region.

Bricks
Our bricks sales amounted to 84m units, up 1% against 1H 2011. In particular, in St. Petersburg we sold 76m units, in Moscow region – 8m units.

We continue construction of our new brick plant in the Kirovsky district of the Leningrad region. The land plots previously occupied by the obsolete production facilities are used for development of mass-market real estate.

In the end of June 2012 we launched our brick plant in Pavlovsky Posad (Moscow region). The plant’s designed capacity is 70 million bricks per annum. The product range includes bricks of 10 colours and 5 textures under the trade mark RAUF. We intend to supply our brick to the Central, Southern and North-West Federal districts, in particular to St. Petersburg, Moscow, Vladimir, Ryazan, Volgograd and Belgorod regions.

Aerated Concrete
Aerated concrete sales amounted to 522 th m3 in 1H 2012 (+24%). In particular, we sold 213 th m3 in St. Petersburg and 310 th m3 - in Ukraine.
The sales growth in St. Petersburg was primarily due to the increased volume of individual housing construction. We also supplied our aerated concrete to large high-rise residential projects.
In Ukraine, we increased our sales by 25% year-on-year. Our aerated concrete was mainly supplied for the construction of commercial and residential projects in Kiev region.

Cement
In 1H 2012, we sold 425 th tonnes of cement. We mainly supplied our cement to ready-mix concrete and
reinforced concrete producers.

Aggregates

Sand
Sand sales in 1H 2012 amounted to 5.2m m3, up 7% on 1H 2011.
In 1H 2012 we supplied our sand for construction of large infrastructure projects, including Western High Speed Diameter. We also supplied our sand to industrial, civil and commercial projects, including construction of the international Convention and Exhibition Centre Expoforum.

Crushed Granite
In 1H 2012, we sold almost 3m m3 of crushed granite, up 56% against 1H 2011.
Growth of sales was primarily due to the increased construction activity at large infrastructure and civil projects, including construction of Western High-Speed Diameter, Zenit Stadium and railway construction near Ust-Luga, Leningrad region.