Robyg (ROB2) Company presentation summary

Company overview and market position

• Over 25 years of activity with 37,000 pre-sales and 34,000 handovers since inception, focusing on major Polish metropolitan areas.

• Holds a landbank of approximately 17,700 units for 2025, with about 50% of activity in Warsaw.

• Recognized as a top-tier residential developer with a vertically integrated business model combining development and construction services.

• Strategic expansion into Krakow and continued consolidation in Warsaw and Tri-City, with selective activity in Poznan, Wroclaw, and Lodz.

• Backed by TAG Immobilien AG, providing institutional support and governance expertise.

Financial performance and capital structure

• 2025 sales revenues projected at PLN 1.5bn, with a reported gross profit of PLN 378m and net profit of PLN 331m.

• Gross profit margin on residential and commercial sales at 31%, with an adjusted margin of 38%.

• Net debt to equity ratio at 22% for 2025, reflecting a robust capital structure.

• Dividend payout policy targets at least 70% of earnings from 2026, subject to listing and liquidity requirements.

• Construction services to Vantage provide incremental, asset-light revenue without straining development capacity.

Operational model and growth strategy

• Vertically integrated, pre-sales-led model ensures efficient project delivery and customer satisfaction.

• Land acquisition strategy focuses on early identification, disciplined sourcing, and risk-managed purchases, with PLN 1.6bn contracted in 2024-2025.

• High efficiency in sell-out speed, with most units pre-sold during construction and minimal finished unsold stock.

• Plans to achieve annual presales of 5,000 units in the mid-term, leveraging a scalable landbank and operational excellence.

• Flexible, centralized financing model based on equity, bonds, and corporate-level facilities enhances liquidity and reduces refinancing risk.