Stock Exchange Releases

Technopolis to Expand its Russian Operations

TECHNOPOLIS PLC         STOCK EXCHANGE RELEASE         February 1, 2012 at 7:50 PM

 

Technopolis to Expand its Russian Operations

In the fall 2011, Technopolis released its strategic objectives for 2012–2016. One of its key objectives is to increase annual net sales outside Finland to EUR 50 million by 2016. In order to reach this objective, Technopolis will start the construction of the second phase of the Pulkovo Airport Campus in St. Petersburg, Russia.

The total investment in Pulkovo phase II is estimated to be EUR 42 million. The European Bank for Reconstruction and Development (EBRD) will finances half of the project costs, with Technopolis covering the remaining costs. The total area of the office premises is approximately 18,750 square meters and the gross building area is 22,700 square meters. The construction of Pulkovo phase II will be started in February 2012, and it is estimated to be completed in September 2013. Technopolis will apply for the LEED Silver environmental certificate for the site. Lemminkäinen will acts as the principal contractor.

By expanding the Pulkovo Campus, Technopolis aims to double its net sales and nearly triple its EBITDA in 2014. The EBITDA improvement is due to scale-related benefits in maintenance costs, and restaurant and meeting services.

Technopolis feels that the current market conditions in St. Petersburg support launching the project at this point. Constructions costs are currently at reasonable level, and there is demand for Technopolis’ services. The first phase of the Pulkovo center had a 100% occupancy rate at the end of 2011.

 

Technopolis Plc
Keith Silverang
CEO
Tel. +358 40 566 7785

 

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www.technopolis.fi