Robyg posted a net profit of PLN 354.2 million in 2022

Net profit attributable to shareholders of Robyg Group's parent company amounted to PLN 354.2 million in 2022, and sales revenue amounted to PLN 1.5 billion, up 16% y/y, the company reported. EBIT amounted to PLN 438.8 million in the aforementioned period.

In 2022, the Robyg Group signed 2,144 development and preliminary contracts in Warsaw, the Tri-City, Poznań and Wrocław. The company finalized 2,114 reservation agreements during the period and handed over about 3,500 units to customers. The company maintains its sales target for 2023 at over 2,400-2,500 units. Robyg maintains stable margins, has a large land bank, and is also looking for land in new locations and does not rule out entering more cities, it stated.

"The year 2023 will certainly be a challenging year for the entire economy, including in the residential construction sector. That's why we are focusing on building synergies within the large, strong TAG Immobilien Group. As a result, we have a stable situation, a large land bank and can prepare for more difficult times in the economy with confidence. Regardless, we hope that both those in power and the financial sector will focus on building the availability of financing for Poles. Because the demand for housing in Poland is very high - and the main roadblock is precisely the ability to take out a loan. Since the beginning of 2023, the situation in the mortgage market has been improving - as confirmed by BIK (Credit Information Bureau) data. We can see more and more loan applications compared to December 2022, and it can be assumed that this trend will continue to be positive in the coming months. In most banks, customers' creditworthiness has increased, which allows them to make more flexible decisions regarding the purchase of an apartment," said Robyg Group Supervisory Board Chairman Oscar Kazanelson.

The Robyg Group builds and sells apartments, and also carries out general contracting of Robyg and Vantage Development investments. Vantage Development, under the Vantage Rent brand, operates exclusively in the PRS segment - that is, apartments for rent. Each company is financed independently. Robyg was listed on the main market of the Warsaw Stock Exchange from 2010 to 2018.

Source: Robyg Group and ISBnews