News

August 24, 2017
ROBYG SA
ROBYG Group: PLN 215 million income in H1 2017

In the first half of 2017 ROBYG Group recorded income of PLN 215 million and over PLN 28 million of net profit attributable to shareholders of the parent company. For 2017 the Group expects to achieve PLN 105 million of net profit attributable to shareholders of the parent company and to recognize in its financial results ca. 2500 units. In H1 of 2017, the company contracted 1693 apartments net (after resignations) in Warsaw and Gdansk, that is 23% more than during the same period in 2016. At the same time, by June 30th 2017, the Company recognized 714 units in revenues and has a great potential for revenue recognition in the second half of the year.


ROBYG Group realizes housing investments in Warsaw in following districts: Bemowo, Mokotów, Ursus, Wilanów, Wola, Tarchomin and Żoliborz and plans to launch in 2017 additional investments in Włochy. In Gdańsk the company has investments in districts: Jasień, Letnica, Wrzeszcz, Morena together with a planned one in Śródmieście.


Financial results achieved in H1 by ROBYG Group are in accordance with expectations. PLN 215 million income and over PLN 28 million net profit attributable to shareholders of the parent company, proof that the predicted net profit of PLN 105 million in 2017 is, in the current market conditions, a realistic target. ROBYG plans to recognize in revenues ca. 2 500 units in 2017. According to construction and transfer schedules, Group expects a significant increase in recognitions in 2018. Continuous boom on the Polish real estate market – Eurostat data show that Poles buy the most apartments in Europe – reflects in company’s H1 results. 1693 units contracted during this period in Warsaw and Gdansk is 23% higher than in the same period last year. Achieved sale results allowed the company to once again be on the forefront of developers listed on the Warsaw Stock Exchange and thus confirm its strong market position” – said Oscar Kazanelson, Chairman of the Supervisory Board of ROBYG SA.


During the Q1 ROBYG Group achieved PLN 69,5 million income. In the 2017 company expects to recognize in its financial results ca. 2500 units and PLN 105 million of net profit attributable to shareholders of the parent company – the number has changed compared to previous prognosis due to the revaluation of the investment property in Gdańsk. With current market conditions, ROBYG Group forecasts contracting level to reach ca. 3 300 apartments.

 

Group’s Management Board is consistently implementing the company's development strategy. Warsaw and the Tricity, where ROBYG operates, are one of the fastest growing metropolitan areas in Poland. ROBYG Group considers an expansion into other attractive markets in Poland, among others Cracow and Wroclaw. For this purpose, the company is constantly expanding its land bank with new locations that will enable the launch of the next multi-stage projects. ROBYG Group has land bank that allows for the construction of 13 000 flats, which secure the company’s needs in the quarters to come” – adds Oscar Kazanelson. 

 


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