In the year ended 31 December 2009 LSR Group generated RUR 51,024m of revenue and 14,732m of EBITDA.

Key financial highlights:

• Revenue increased by 2% to RUR 51,024m
• EBITDA increased by 12% to RUR 14,732m
• EBITDA margin grew from 26% to 29%
• Normalised operating profit increased by 11% to RUR 12,327m
• Normalised net profit went up by 15% to RUR 6,071m
• Earnings per ordinary share went up by 158% to 50 RUR

Igor Levit, CEO of LSR Group commented:
“We demonstrated solid financial results in 2009 taking into account the market challenges our industry passed through. We maintained our leading market position, secured governmental orders for social housing, refinanced our debt, implemented cost reduction measures and continued the construction of our cement plant.
Today we see the signs of recovery of real estate market and our main task now is to ensure that the company will fully capture the opportunities of the market recovery. Currently we are implementing our "Lead The Growth" program aimed at ensuring the profitable growth of our business.
We believe that our company will be a leader in moving towards future strength and performance”.

Financial Results
In 2009, our revenue increased by 2% to RUR 51,024m, EBITDA increased by 12% to RUR 14,732m, and EBITDA margin grew from 26% to 29%.

In 2009 approximately 70% of our revenue and 84% of our EBITDA were generated by our Real Estate Development, Construction and Commercial Real Estate Division, and the share of our Building Materials, Aggregates and Construction Services Division was approximately 30% of the total revenues and 16% of the Group’s EBITDA.