ROBYG, a company from the TAG Immobilien Group, has issued 250,000 PF series bonds with a total value of 250 million PLN as part of a bond issuance program with a maximum amount of 500 million PLN. In 2024, the TAG Immobilien Group concluded land acquisition agreements worth a total of approximately 1.1 billion PLN in Poland. Currently, the Group’s land bank in Poland includes potential for the construction of about 28,000 residential units.
In the first half of 2024, ROBYG recorded sales revenues of 705 million PLN, while the gross margin from sales exceeded 158 million PLN. EBIT amounted to around 114 million PLN, and the net income attributable to the shareholders of the parent company stood at 107 million PLN.
“The TAG Immobilien Group successfully completed several bond issues in the last year, which were very well received on both the Polish and European financial markets. TAG Immobilien raised 500 million Euros in Germany. It is worth highlighting that the TAG Group has very good ratings from agencies such as Moody’s, which upgraded its long-term credit rating to ‘investment grade, Baa3, stable outlook,’ and S&P Global – stable outlook. Similarly, ROBYG has been regarded by investors for years as a reliable and trustworthy partner in the capital markets. Once again, we successfully completed a bond issuance for a total amount of 250 million PLN. During the issuance process, we recorded oversubscription in the book-building phase, which clearly confirms the effectiveness of our strategy,” said Oscar Kazanelson, Chairman of the Supervisory Board of ROBYG and Vantage.
“The TAG Group, ROBYG, and Vantage have strengthened their investment potential in Poland by increasing their land bank with new plots worth a total of 1.1 billion PLN. This means we have strong prospects to enter new markets and strengthen our position where we are already operating. Our current land bank gives us construction potential for around 28,000 units, which means our activities are secured for the coming years. However, we plan further significant investments and the launch of new projects, both for sale and for rent. We continue to develop our PRS portfolio, which is managed by Vantage within the TAG Group,” said Eyal Keltsh, CEO of ROBYG and Vantage.
Key Data for ROBYG:
Year | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|
Developer and Preliminary Agreements | 2,738 | 4,308 | 2,144 | 3,488 |
Units Recognized in Revenue | 2,715 | 2,940 | 3,500 | 3,359 |
Revenues | 1.11 billion PLN | 1.3 billion PLN | 1.5 billion PLN | 1.8 billion PLN |