APRI is a residential developer from Chelyabinsk building mass-market and comfort-class housing districts in the Urals and expanding into other regions.
Sector: Construction & Real Estate
RU_APRI
Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.
Shares: connector/market_inputs
Monetary columns are in B RUB, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.
| Date | Period | Status | RevenueB RUB | Operating profitB RUB | D&AB RUB | EBITDAB RUB | Net profitB RUB | Operating CFB RUB | Capex + M&AB RUB | AssetsB RUB | EquityB RUB | ROE (annualized) | Net debtB RUB | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | Q2 2026 (3M) | OK | 5.4 y/y 24.9% | 1.2 y/y 18.2% | 0.1 y/y 79.7% | 1.2 y/y 20.2% | -0.5 y/y -386.8% | -4.6 | -0.5 | 85.2 y/y 33.6% | 9.1 y/y 16.3% | -20.0% | 53.3 | Report (PDF) |
| 2026-03-31 | Q1 2026 (3M) | OK | 6.6 y/y 33.5% | 2.2 y/y 18.0% | 0.1 y/y -63.6% | 2.3 y/y 10.6% | 0.6 y/y -27.6% | -3.8 | -0.2 | 77.5 y/y 22.5% | 9.7 y/y 5.3% | 25.0% | 48.2 | Report (PDF) |
| 2025-12-31 | Q4 2025 (3M) | OK | 9.7 y/y 5.6% | 2.7 y/y 96.3% | -0.2 y/y 66.7% | 2.5 y/y 185.9% | 0.8 y/y -18.0% | -0.9 | -0.5 | 72.8 y/y 19.1% | 9.2 y/y 10.0% | 26.0% | 44.0 | Report (PDF) |
| 2025-09-30 | Q3 2025 (3M) | OK | 6.0 y/y 32.5% | 2.0 y/y 58.9% | 0.1 y/y 128.7% | 2.2 y/y 61.8% | 0.5 y/y 172.2% | -4.1 | -0.8 | 68.5 y/y 25.3% | 8.1 y/y 7.4% | 8.2% | 40.2 | Report (PDF) |
| 2025-06-30 | Q2 2025 (3M) | OK | 4.4 y/y 19.9% | 1.0 y/y -34.9% | 0.0 y/y 105.0% | 1.0 y/y -33.5% | 0.2 y/y -72.6% | 5.1 | -1.3 | 63.7 y/y 32.3% | 7.8 y/y 20.4% | 7.7% | 34.9 | Report (PDF) |
| 2025-03-31 | Q1 2025 (3M) | OK | 4.9 y/y -17.4% | 1.9 y/y 1.2% | 0.2 y/y -63.1% | 2.1 y/y -12.6% | 0.8 y/y 13.6% | -9.0 | -1.4 | 63.3 y/y 52.4% | 9.2 y/y 59.7% | 37.2% | 33.5 | Report (PDF) |
| 2024-12-31 | Q4 2024 (3M) | OK | 9.2 y/y 453.7% | 1.4 y/y — | -0.5 y/y -164.5% | 0.9 y/y 270.7% | 0.9 y/y — | 0.4 | -0.9 | 61.2 y/y 81.8% | 8.4 y/y 66.3% | 30.7% | 32.4 | Report (PDF) |
| 2024-09-30 | Q3 2024 (3M) | OK | 4.5 y/y 36.6% | 1.3 y/y -35.0% | 0.1 y/y -3.6% | 1.3 y/y -34.1% | 0.2 y/y -85.7% | 0.7 | 0.0 | 54.6 y/y — | 7.6 y/y — | 3.4% | 27.1 | Report (PDF) |
| 2024-06-30 | Q2 2024 (3M) | OK | 3.6 y/y 128.8% | 1.5 y/y 113.8% | 0.0 y/y — | 1.5 y/y 116.1% | 0.6 y/y 29.0% | -1.1 | -1.0 | 48.2 y/y — | 6.5 y/y — | 39.0% | 25.7 | Report (PDF) |
| 2024-03-31 | Q1 2024 (3M) | OK | 5.9 y/y 8394.3% | 1.9 y/y 706.7% | 0.5 y/y 0.0% | 2.4 y/y 220.9% | 0.7 y/y 1093.5% | -6.5 | -1.1 | 41.5 y/y — | 5.7 y/y — | 53.3% | 22.3 | Report (PDF) |
| 2023-12-31 | Q4 2023 (3M) | OK | 1.7 y/y — | 0.0 y/y — | 0.7 y/y — | -0.5 y/y — | 0.0 y/y — | -6.8 | -0.1 | 33.6 y/y — | 5.0 y/y — | — | 16.8 | Report (PDF) |
| 2023-09-30 | Q3 2023 (3M) | PARTIAL | 3.3 y/y — | 2.0 y/y — | 0.1 y/y — | 2.0 y/y — | 1.3 y/y — | 3.4 | 0.0 | — y/y — | — y/y — | — | 12.9 | Report (PDF) |
| 2023-06-30 | Q2 2023 (3M) | PARTIAL | 1.6 y/y — | 0.7 y/y — | — y/y — | 0.7 y/y — | 0.5 y/y — | -1.4 | 0.0 | — y/y — | — y/y — | — | 9.0 | Evidence |
| 2023-03-31 | Q1 2023 (3M) | PARTIAL | 0.1 y/y — | 0.2 y/y — | 0.5 y/y — | 0.7 y/y — | 0.1 y/y — | -1.4 | — | — y/y — | — y/y — | — | 5.0 | Evidence |
Quarterly values (₽ mln)
Year-over-year change
FCF (₽ mln)
Net debt / cash (₽ mln)
| year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| cash flow / profit | 15.78x | -0.21x | -3.54x | -2.66x | -4.01x |
| accruals, % of assets | -53.5% | 7.8% | 24.2% | 14.6% | 15.5% |
Our earnings breakdowns and investment notes on this issuer.
Developers fund construction with project financing and, under IAS 23, capitalize the interest into inventory (construction-in-progress) instead of expensing it. At a high key rate this understates the true interest burden in EBITDA and net profit. Below: earnings as if ALL interest were expensed.
ⓘ APRI expenses most of its interest (RUB 1,961mln finance costs in 2024, already in net profit) and additionally capitalizes some project-financing interest into inventory (IAS 23), but the capitalized amount is not separately disclosed — a precise ex-capitalization figure cannot be shown.
55 projects building · 0.08m m² · 1 526 flats
escrow accounts: 100%overdue delivery: 0matched SPVs: 12
Commissioning, m m²: actual 2022: 0.10 · 2023: 0.11 · 2024: 0.16 · 2025: 0.00 · 2026: 0.02 · planned 2026: 0.04 · 2027: 0.04
→ Commissioning: last full year -99% YoY · 2026 exp. 0.06m (+2953% — accelerating)
Pipeline MoM: 0.21→0.08 млн м² (-61.9%)
Geography (area): код 74 58k m² · Свердловская обл. 23k m²
Source: DOM.RF ЕИСЖС, snapshot 2026-09-12, updated monthly. Projects are matched by developer brand — groups whose SPVs use project names (notably PIK) are only PARTIALLY covered, so levels are a lower bound; read the month-over-month trend and ratios (escrow, timing, regions).
Value the company creates per year, as a % of market cap
Value created per year: -90.3%
| 1. EBITDA growth (latest quarter YoY, annualised) [EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30) = (1 234 − 1 026) × 6.82 | 354 |
| 2. Current EV/EBITDA (LTM) (Market cap + Net debt) ÷ EBITDA (LTM) = (17 535 + 53 330) ÷ 8 415 | 8.4x |
| 3. Target multiple (Current EV/EBITDA + 6.5) ÷ 2 = (8.4 + 6.5) ÷ 2 | 7.5x |
| 4. Cash flow (balance method, LTM) Net-debt reduction + dividends + buybacks − equity issuance = -18 468 + 0 + 0 − 0 | -18 468 |
| 5. Value created per year (EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap = (354 × 7.5 + -18 468) ÷ 17 535 | -90.3% |
Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.
Caveats:
No dividend rows found for this issuer.
Substantive mentions last 7 days: 0, last 30 days: 0 across tracked channels, broker research and shows.
Sources: Telegram channels (bloggers — blue chip, broker research — green), YouTube shows via transcripts (orange). Tone (▲/▼) is an automatic assessment in the stock's context. Quotes are fragmentary; authors' views are not our recommendations.
Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)
Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of APRI — from primary filings.
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