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ROBYG Group Reports Strong Performance in 2023: Sales Revenue Reaches 1.8 Billion PLN

COMPANIESROBYG Group Reports Strong Performance in 2023: Sales Revenue Reaches 1.8 Billion PLN

In 2023, the ROBYG Group recorded sales revenues of 1.8 billion PLN, while the gross margin from sales exceeded 460 million PLN. EBIT amounted to around 460 million PLN, and the net result attributable to the shareholders of the dominant unit amounted to 370 million PLN.

In 2023, the ROBYG Group signed 2800 preliminary and development agreements and an additional 680 reservation agreements. ROBYG delivered about 3360 units. In total, the TAG Group in Poland sold 3600 residential and commercial units, completed and delivered 4300 units, of which 3800 units were transferred to customers, and 500 were leased. The Group’s land bank comprises potential for construction of around 20,000 units throughout Poland. In 2024, ROBYG plans to sell around 2300 apartments.

The ROBYG Group is in a very good liquidity position. The Group’s cash position at the end of 2023 reached almost 560 million PLN (including funds accumulated in trust accounts), while the net debt to equity ratio was negative – meaning that at the end of the year, the Group had more cash than financial debt. Such a strong cash position allows for optimism regarding the possibility of acquiring new plots, and should translate into attractive cost levels for new financings.

“2023 was a very good year for ROBYG and the entire TAG Group in Poland. We managed to achieve set goals and effectively introduce subsequent investments to the offer. We focused on tailoring the proposed apartments to customer expectations – especially in terms of technological and environmental requirements. We have been intensively expanding our settlements for years with elements related to environmental protection, energy saving, improving air quality, etc. We have also prepared a comprehensive offer to respond to government support programs for buying apartments. We assume that 2024 will also be very satisfying. We see a huge space and still a large demand for apartments. The biggest barrier is still too slow permitting procedures – I believe that this is the most urgent problem to be solved at both the government level and local level. This is a key issue that blocks supply and increases apartment prices,” pointed out Oscar Kazanelson, Chairman of the ROBYG and Vantage Supervisory Board.

“In 2024, we plan to introduce several thousand new units to the offer on all markets where we operate – that is in Warsaw, Tri-City, Wrocław, Poznań and Łódź. We are also actively working on expanding our land bank – which is already one of the largest in Poland – includes construction potential of around 20,000 apartments. Our financial stability and strong cash position are very important – advantages that ROBYG has consistently presented for many years. Thanks to this, we are a credible partner in the financial and capital market,” said Eyal Keltsh, CEO of ROBYG and Vantage.

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