Robyg Group had PLN 119 million of net profit, PLN 143.5 million of EBIT in the first half of 2022

The Robyg Group recorded PLN 119 million of net profit attributable to the shareholders of the parent company in H1 2022, sales revenue of PLN 368.3 million, and EBIT: PLN 143.5 million, the company announced. In the first half of 2022, the Robyg Group signed 1,241 development and preliminary agreements and 1,083 reservation agreements in Warsaw, Tricity, Poznań and Wrocław. The company recognized 785 premises in revenues.

In the first half of 2022, the Robyg Group introduced the next stages of housing estates in Warsaw: Royal Residence in Wilanów, Sady Ursynów, Jutrzenki, Praga Piano, Modern City, Rytm Mokotowa and Moje Ursus; in the Tri-City: Wiśniowa Aleja, Wendy, Vista, Szumilas, Porto, Zielony Widok, Moment i Lagom and 5 new stages of the Robyg Jagodno estate, Osiedle nad Widawą and the Dożynkowa estate in Wrocław.

"Our position is strong in terms of sales and finances, construction works are going according to schedule, although high inflation and the war in Ukraine translate into higher costs. We have over 97% of the apartments due for completion this year, and next year is also secured in As far as the results for this and next year are concerned, we are optimistic about the results in terms of operations and financial flows. We also do not expect a decline in house prices," said Group vice president Robyg Eyal Keltsh.

"A small part of developers may temporarily reduce prices to maintain the pace of sales - but these will not be any significant reductions, a maximum of 3-5%. Already at the end of this year the situation should stabilize in this respect, and next year I do not expect the prices to Investments are now based on land that has already been bought at higher prices, inflation drives material and labor costs, so it's hard to imagine new projects being launched at significantly lower prices. Large developers are unlikely to panic and wait this time, because today it makes no sense to sell under pressure, as demand will return next year.In addition, we have an influx of refugees from Ukraine, according to various estimates, from 0.75-1 million people will stay in Poland - among them there are many potential buyers of flats, which means the need for an additional 250-300 thousand flats, which is an even greater structural deficit," he added.

Source: Robyg and ISBnews
Photo: Robyg - Moj Ursus