Robyg (ROB2) Q4 2024 earnings summary

Executive summary

• Revenues for 2024 reached PLN 1,301 million, with a strong cash position of PLN 363 million and operating cash flow of PLN 497 million (excluding plot purchases).

• 1,891 developer and preliminary agreements were signed in 2024, with 2,331 units recognized in revenues and a total land bank of 21,449 units.

• Units on offer at year-end totaled 1,777, with 3% as finished goods.

Financial highlights

• Net profit for 2024 was PLN 258.1 million, down 29.9% year-over-year; gross profit on sales was PLN 326 million, a 29.5% decrease.

• Gross profit margin on sales was 25.1%, compared to 27.0% in 2023.

• Total assets increased to PLN 3,566 million, with equity at PLN 1,814 million.

• Net cash flows from operating activities were PLN 64 million, down from PLN 516 million in 2023.

Outlook and guidance

• Strategic goals include residential sales of approximately 2,600 units in 2025, maintaining margins, expanding in Warsaw, Wroclaw, and Tricity, and sustaining the land bank level.

• Continued realization of ESG strategy and increased sales in coming years.