Financial results for 2023

In 2023, the ROBYG Group recorded sales revenues of PLN 1.8 billion, while the gross margin on sales amounted to over PLN 460 million. EBIT amounted to app. PLN 460 million, and the net result attributable to shareholders of the parent company amounted to app. PLN 370 million.

In 2023, ROBYG Group signed over 2800 preliminary and development agreements and an additional 680 reservation agreements. ROBYG handed close to 3360 units. In total TAG Group in Poland sold 3,600 residential and commercial units, completed and handed over 4,300 units, of which 3,800 units were handed over to customers and 500 were put out for rent. The Group's land bank includes the potential to build approximately 20,000 units across Poland. In 2024, ROBYG plans to sell over 2300 apartments.

The ROBYG Group is in a very good liquidity situation. The Group’s cash position at the end of 2023 amounted to tclose to PLN 560 million (including funds accumulated in escrow accounts), and the net debt to equity ratio was negative – i.e. at the end of the year, the Group had more cash than financial debt. Such a strong cash position allows us to be optimistic about the possibilities of acquiring new plots and should influence on attractive levels of servicing costs for new financing.

"2023 was a very good year for ROBYG and for the entire TAG Group in Poland. We managed to achieve our goals and effectively introduce new investments to our offer. We focused on matching the proposed apartments to the expectations of customers – especially in terms of technological and environmental requirements. For many years, we have been intensively expanding our housing estates with elements related to environmental protection, energy saving, air quality improvement, etc. We also prepared a comprehensive offer responding to government support programs for the purchase of apartments. We assume that 2024 will also be a very rewarding year. We see a huge space and still a lot of demand for housing. The biggest barrier is still too slow permit procedures – I believe that this is the most urgent problem to be solved at the level of both central and local government administration. This is a key issue that blocks supply and increases housing prices," pointed out Oscar Kazanelson, Chairman of the Board of Directors of ROBYG and Vantage.

"In 2024, we plan to introduce several thousand new units to our offer in all markets where we operate – i.e. in Warsaw, the Tri-City, Wrocław, Poznań and Łódź. We are also working intensively on the expansion of our land bank – which is already one of the largest in Poland – that includes the potential to build around 20,000 apartments. Our financial stability and strong cash position are very important – advantages that ROBYG has been systematically presenting for many years. As a result, we are a reliable partner in the financial and capital markets," said Eyal Keltsh, CEO of ROBYG and Vantage.

ROBYG has over 30,000 units sold and over 90,000 satisfied customers.

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