LSR Group publishes its 2018 Sustainability Report
St. Petersburg, Russia - 25 July 2019 - PJSC LSR Group ("LSR" or the "Company") (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces that it has published its Sustainability Report, for the year ended 31 December 2018, on its website https://www.lsrgroup.ru/en/sustainability-reports.
Last year, LSR became a pioneer of Corporate and Social Responsibility in the Russian real estate sector with the publication of its first Sustainability Report, prepared in accordance with the GRI Global Reporting Initiative Standards. LSR Group has made an on-going commitment to report on its sustainability initiatives, which reflects the Company's focus on implementing best practice disclosure.
Dmitri Goncharov, Chairman of the Board of Directors of PJSC LSR Group, commented: "LSR Group provides high-quality and comfortable housing, to bring about a positive improvement to people's living standards. The principles of sustainable development are core to our business strategy, culture and activities and we see it as a means of securing the long-term development of LSR Group. At the heart of our approach is to provide high levels of transparency, to ensure that the interests of all stakeholders are considered during our course of business."
Igor Tsoi, Director of Investor Relations & Sustainable Development of PJSC LSR Group, commented: "We achieved a great deal of progress during 2018 and we expect to evidence even more progress during the course of the year, as we reach our targets, contribute to the achievement of Sustainable Development Goals, adopted by the United Nations General Assembly and fulfil our commitments as a United Nations Global Compact participant.
"We implemented a number of initiatives during the course of the year, and we are proud of the results achieved. We continue to improve the quality and safety of our working conditions, we foster ethical business activities, we invest in social and charitable projects in our communities and we are improving our environmental management practices.
"As an example, on occupational health and industrial safety, substantial progress was made with a 71% reduction in the occurrence of accidents to 10 incidents in 2018, with no fatalities. Meanwhile, we endeavour to achieve our goal which is to reach a zero-injury rate at our construction sites.
"We have also increased levels of transparency and strengthened our ethical approach to business by strengthening the independence of our Board and taking practical steps such as introducing an electronic procurement platform."
For more information please contact:
Director of Investor Relations
LSR Group Press Service
E-mail: [email protected]
About LSR Group:
PJSC LSR Group is one of Russia's leading residential real estate developers and building materials producers. Founded in 1993, the business of LSR Group is concentrated in the three largest regions of Russia - Moscow, St. Petersburg and Yekaterinburg. The main business areas of the Company are real estate development and construction and production of building materials. LSR Group carries out projects in all segments of residential real estate market: mass market, business and elite.
In accordance with its audited IFRS consolidated financial statements for 2018, LSR Group had revenue of RUB146.4 billion, Adjusted EBITDA of RUB36.4 billion and Net Profit of RUB16.2 billion. As of 31 December 2018 (according to Knight Frank), the net sellable area of projects in LSR Group's real estate portfolio amounted to 7.8 million m2 with a market value of RUB186 billion.
Ordinary shares of the Company are traded on the Moscow Exchange (MOEX: LSRG) and GDRs representing its ordinary shares are traded on the London Stock Exchange (LSE: LSRG).