ROBYG Group Financial results 2016

Transcription

1 ROBYG Group Financial results 2016 Warsaw, March 16th 2017

2 HIGHTLIGHTS HIGHLIGHTS 2016 * Assuming the continuation of the proportional consolidation for JV projects, ** Including amounts kept on individual escrow accounts and in Mutual Funds. 2

3 Agenda I. Summary II. Presales and hand-overs III. Financial results IV. Plans of ROBYG Group V. Appendices 3

4 ROBYG - Team Oscar Kazanelson Chairman of the Supervisory Board Zbigniew Wojciech Okoński President of the Board Eyal Keltsh Vice-President of the Board, COO Artur Ceglarz Vice-President of the Board, CFO 4

5 Summary

6 Financial results of 2016 Revenues PLN 517 million (PLN 766 million*) Operating profit PLN 123 million Net profit attributable to equity holders of the parent PLN 109 million Net cash flows from operating activities PLN 191 million (excl. purchase of new plots) PLN -39 million (incl. purchase of new plots) Strong cash position**: PLN 402 million * Assuming the continuation of the proportional consolidation for JV projects, ** Including amounts kept on individual escrow accounts and units in Mutual Funds. 6

7 ROBYG Group- investments and financial activities 2016* BONDS LOANS NEW PLOTS- Warsaw NEW PLOTS- Gdańsk* Redemption of PLN 105 million: - I series (PLN 84 million), - K1 series (PLN 6 million), - K2 series (PLN 15 million). Issuance of PLN 120 million: - R series (PLN 20 million), - S series (PLN 100 million). Total new facilities: PLN million: ROBYG Marketing i Sprzedaż - investment loan (PLN 50 million), ROBYG Construction - construction loan (with the limit of PLN 20 million), ROBYG S.A. - investment loan (with the limit of PLN million), - revolving loans (with the total limit of PLN 50 million), Stacja Nowy Ursus: - investment loan (with the limit of PLN 18.3 million), - construction loan (with the limit of PLN 20 million). Apartamenty Villa Nobile: - construction loan (with the limit of PLN 15 million). Zajezdnia Wrzeszcz: - investment loan (with the limit of PLN 22.3 million), - construction loan (with the limit of PLN 15 million). Green Mokotów: - investment loan (with the limit of PLN 28.4 million), - construction loan (with the limit of PLN 15 million). Nowa Letnica: - investment loan (with the limit of PLN 32.4 million). Total investment app. PLN million: with the potential for construction of app units. PLN 16 million (plot areaapp. 1.1 ha)- purchase of the plots on Praga district with the potential for construction of app. 260 units. PLN 7 million (plot area- app. 1.5 ha)- purchase of the shares and loans regarding the plot on Ursynów district with the potential for construction of app. 400 units. PLN 13.6 million (plot areaapp. 1.8 ha)- purchase of the plots on Mokotów district with the potential for construction of app. 300 units. PLN 46 million (plot areaapp. 2.5 ha)- purchase of the stocks in the entity owns the plot on Wola district with the potential for construction of app. 800 units. PLN 25.8 million (plot areaapp. 4.6 ha)- purchase of the plots on Białołęka district with the potential for construction of app. 700 units. Total investment app. PLN 65.3 million: with the potential for construction of app units. PLN 53.4 million (plot areaapp. 6 ha)- purchase of the plots on Letnica district, has potential for construction of app units. PLN 11.9 million (plot areaapp. 0.9 ha)- purchase of the plots on Wrzeszcz district, has potential for construction of app. 300 units. * The specification includes also the transactions performed after 31 December 2016 till the date of the presentation (marked in blue). ** In addition, the Group has signed the agreements obliging to purchase of: the plot with the total area of app. 4.6 ha located in Gdańsk, Śródmieście district with the potential for construction of residential and service area with total usable area of about sqm and the plots with the total area of app. 4,2 ha located in Warsaw, Włochy district with the potential for construction of residential and service area with total usable area of about sqm 7

8 Agenda I. Summary II. Presales and hand-overs III. Financial results IV. Plans of ROBYG Group V. Appendices 8

9 ROBYG Group number of presold units Presold units in units (+27% Y/Y) 12% 56% 22% 10% 27% 9% 9

10 ROBYG Group Presale structure 2016 Presold units in units (+27% Y/Y) District City % Wilanów Warsaw 21% Bemowo Warsaw 16% Ursus Warsaw 5% Wola Warsaw 4% Mokotów Warsaw 3% Żoliborz Warsaw 1% Piecki-Migowo Gdańsk 17% Jasień Gdańsk 15% Wrzeszcz Gdańsk 7% Zaspa Gdańsk 6% Letnica Gdańsk 4% Przymorze Gdańsk 1% 100% 10

11 ROBYG Group units on offer 11

12 ROBYG Group hand-overs (as at 31 December 2016) * Takes into account the units recognised for the projects, which are treated as JV projects. The results of these projects in accordance with the terms for the consolidation of results in ROBYG Group are presented in the line Post-tax share of the profit or loss of the joint ventures accounted for using the equity method. Recognition potential of units in revenues Units not presold and not recognised: 2240 Completed: 80 Under construction: 907 Which construction has not started yet, but included in pre-sales process: 1253 Units presold and not recognised: 2583 Completed: 227 Under construction: 1874 Which construction has not started yet, but included in pre-sales process:

13 Number of units to be completed in and also (contracted) / delivered until 31 December 2016 App. 6,500 units potential for delivery for (incl. app units already contracted) () number of contracted units Total Królewski Park, Park Wola Residence, Green Mokotów, Villa Nobile (all: 51%) - Warsaw 619 (617)/ (564) 202 (23) (587) Młody Wilanów, Modern Żoliborz Residence (all: 100%) - Warsaw 320 (317)/ (62) 75 (62) Lawendowe Wzgórza/Stacja Nowy Gdańsk (100%)- Gdansk 137 (137)/ (539) 648 (539) Słoneczna Morena (100%), MoreNova (all: 100%) Gdansk 269 (264)/ (149) 722 (190) 915 (339) Albatross Towers, Zajezdnia Wrzeszcz, Mila Baltica (all 100%)- Gdansk 307 (298)/ (303) 237 (52) 596 (355) Osiedle Kameralne, Osiedle Kameralne II (100%) - Warsaw 161 (147)/ (14) 112 (41) 152 (55) Young City (51%), Young City 2 (51%), Stacja Nowy Ursus (51%)- Warsaw 446 (441)/ (126) 314 (139) 697 (265) Nowa Letnica (100%) - Gdansk 238 (111) 238 (111) Forum Wola (100%) - Warsaw 160 (43) 160 (43) Percentages in brackets indicate Group s share in the project. The projects marked on blue are accounted in line with the equity method. Presented numbers of units reflect 100% of the potential (regardless of the ownership structure). * Completed in prior years but not delivered till ** In 2017 the Group is planning to start the construction of additional units to be completed in 2017 / (2 221)/ (1 757) (599) (2 356) * +852 (810) /797 ** +14 ** (3 031)/ (1 757) (599) (2 356) -307 (227) +307 (227) (227) (2 804)/ (1 984) (599) (2 583) 13

14 Number of units to be completed in 2017* Project City Total no. of units to be completed in 2017 On 31 Dec 2016 Out of which: Not on 31 Dec 2016 Osiedle Kameralne Warsaw Młody Wilanów Warsaw Green Mokotów Warsaw Stacja Nowy Ursus Warsaw Apartamenty Villa Nobile Warsaw Lawendowe Wzgórze/ Stacja Nowy Gdańsk Gdańsk Słoneczna Morena Gdańsk Mila Baltica Gdańsk MoreNova Gdańsk Zajezdnia Wrzeszcz Gdańsk Total 2,545 2, * Estimation of the planned investments may change. 14

15 Number of units to be completed in 2018* Project City Total no. of units to be completed in 2018 On 31 Dec 2016 Out of which: Not on 31 Dec 2016 Osiedle Kameralne Warsaw Forum Wola Warsaw Green Mokotów Warsaw Stacja Nowy Ursus Warsaw Young City II Warsaw Young City III Warsaw Życzliwa Białołęka Warsaw Lawendowe Wzgórze/ Stacja Nowy Gdańsk Gdańsk Słoneczna Morena Gdańsk Nowa Letnica Gdańsk MoreNova Gdańsk Zajezdnia Wrzeszcz Gdańsk Total 3,593 1,985 1,608 * Estimation of the planned investments may change. 15

16 Agenda I. Summary II. Presales and hand-overs III. Financial results IV. Plans of ROBYG Group V. Appendices 16

17 Financial results Statement of Comprehensive Income (PLN thousands) Change Revenues % Cost of sales ( ) ( ) (0.6%) Post-tax share of the profit or loss of JV % Selling and marketing expenses (21 992) (16 262) 35.2% Administrative expenses (31 368) (28 014) 12.0% Other (2 519) (4 249) (40.7%) Operating profit % Finance income % Finance costs (14 336) (16 169) (11.3%) Profit before tax % Income tax expense (13 219) N/A Net profit % Net profit attributable to equity holders of the parent % Operating profit margin 23.8% 12.3% Net profit margin 20.1% 17.0% 17

18 Gross profit on sales- proforma* Statement of Comprehensive Income (PLN thousands) Change Revenues % Cost of sales ( ) ( ) 15.4% Gross profit on sales % Gross profit margin on sales 25.6% 19.8% * The table shows the Group s Financial Results calculated based on the proportional consolidation of JV projects. 18

19 Revenues by projects and activity in 2016 Activity Total revenues (PLN thousands) Projects Sales revenues in the given project (PLN thousands) Margin (%) Gross profit on sales Property development activities (Warsaw, Gdańsk) Młody Wilanów % Słoneczna Morena % Lawendowe Wzgórza % Albatross Towers % Modern Żoliborz % Mila Baltica % Osiedle Kameralne II % Other projects % TOTAL TOTAL property development activities % Other revenues Other revenues* % TOTAL % Young City % JV projects Osiedle Królewskie jointly with Królewski Park % Park Wola Residence % TOTAL JV % GRAND TOTAL % * Including revenues from construction services, management services, sales activities etc. performed for JV projects. 19

20 Financial condition Statement of Financial Position (PLN thousands) Change Q Total assets, including: % Non-current assets, including: % Investment properties and investment properties under construction % Land designated for development (0.7%) Investments in joint ventures (9.1%) Inventories % Trade and other receivables (22.7%) Amounts kept on individual escrow accounts and Mutual Funds % Cash and cash equivalents (5.8%) Equity % Total liabilities, including: % LT interest liabilities % Current interest liabilities % Advances received from clients % Net debt ratio** ROE 18.5% 15.6% %* * Annualized ** Net debt ratio= net debt *** / equity *** Net debt = interest bearing liabilities intercompany loans cash and cash equivalents amounts kept on individual escrow accounts up to PLN thousand 20

21 Statement of cash flow in 2016 Cash flows (PLN thousands) Net cash flows from operating activities, including: (39 042) Expenditures for the purchase of new plots ( ) ( ) Net cash flows from investing activities (42 189) (14 522) Net cash flows from financing activities, including: Proceeds from issue of bonds Repayment of bonds (99 000) (86 000) Proceeds from loans and borrowings Repayment of loans reclassified from non-controlling interest - (20 930) Repayment of bank and other loans ( ) ( ) Paid dividend (52 618) (28 940) Interest and commissions paid (26 092) (23 778) Net change in cash and cash equivalents (19 935)

22 Debt financing* (nominal value and maturity of bank credit facilities and bonds) as at December 31th, 2016 <1 year 1-2 years 2-3 years 3-4 years 4-5 years Total BANK CREDIT FACILITIES* million 66,18 million 50,01 million 69,29 million 9,75 million 292,10 million BONDS million million million million million TOTAL million million million million million million * Including the nominal value of lease payments relating to sale and leaseback transaction of the office building. 22

23 Dividend Since its IPO on the Warsaw Stock Exchange in 2010, ROBYG S.A. has been regularly distributing profits among its shareholders. Insofar, the Company has distributed as dividends: Dividend per share in (in PLN) * Management Board recommendation Management Board approved the Dividend Policy, according to which MB intends to recommend the payment of a dividend for 2017 at the level of 65% to 80% of the consolidated net profit. 23

24 Agenda I. Summary II. Presales and hand-overs III. Financial results IV. Plans of ROBYG Group V. Appendices 24

25 Strategic goals Sales of app units in 2017 Launching over 4000 units in 2017 Estimated net profit in 2017*: 90M Significant increase in net profit in 2018 Start of activities in Wrocław Maintain the level of the land bank Continuation of dividend policy * Attributable to equity holders of the parent 25

26 Investments in 2017* Stages introduced for sale as of 31 December 2016 Introduced for sale in 2017 Construction's start in 2017 Total Construction Project Stage Number of units Start End Osiedle Kameralne II (7) Q Q 2018 Green Mokotów Residence (1b) 1b Q Q 2018 Green Mokotów Residence (5) Q Q 2018 Morenova (R2,R3) Q Q 2018 Stacja Nowy Ursus (DE) Q Q 2018 Stacja Nowy Ursus (FGH) Q Q 2017 Young City 2 (AB) Q Q 2018 Zajezdnia Wrzeszcz (C,D) Q Q 2018 Nowa Letnica Q Q 2018 Nowa Letnica Q Q 2018 Forum Wola (2) Q Q 2018 Construction's start in 2017, introduced for sale in Construction Project Stage Number of units Start End Lawendowe Wzgórze/ Stacja Nowy Gdańsk (C12) Q Q 2018 Lawendowe Wzgórze/ Stacja Nowy Gdańsk (D3, D4) Q Q 2018 Lawendowe Wzgórze/ Stacja Nowy Gdańsk (D5) Q Q 2018 Lawendowe Wzgórze/ Stacja Nowy Gdańsk (C13C14) Q Q 2018 Lawendowe Wzgórze/ Stacja Nowy Gdańsk (D6D7) Q Q 2019 Lawendowe Wzgórze/ Stacja Nowy Gdańsk (C17C18) Q Q 2019 Słoneczna Morena (C) Q Q 2017 Słoneczna Morena (D1, D2, D3) Q Q 2017 Osiedle Kameralne II (3) Q Q 2018 Osiedle Kameralne (6) Q Q 2019 Green Mokotów Residence (4A,4B) Q Q 2018 Green Mokotów Residence Q Q 2019 Green Mokotów Residence Q Q 2019 Morenova (R1) Q Q 2018 Stacja Nowy Ursus Q Q 2018 Stacja Nowy Ursus Q Q 2019 Young City Q Q 2018 Young City Q Q 2019 Young City Q Q 2018 Zajezdnia Wrzeszcz Q Q 2019 Nowa Letnica Q Q 2019 Nowa Letnica Q Q 2018 Nowa Letnica Q Q 2019 Mińska Q Q 2019 Forum Wola (1) Q Q 2018 Życzliwa Białołęka Q Q 2018 Construction's start in 2017, introduced for sale in Construction Project Stage Number of units Start End Green Mokotów Residence Q Q 2019 Stacja Nowy Ursus Q Q 2019 Young City Q Q 2019 Zajezdnia Wrzeszcz Q Q 2019 Forum Wola (3) Q Q 2019 Planned construction's start in 2018, introduction for sale in * Estimation of the planned investments may change. 26

27 Land bank* Total land bank units units on offer = units** ROBYG has also land in WROCŁAW approximately for 300 units (the sale has not started yet) * Units which presale has already begun (as at 31 December 2016) not included. ** In addition, the Group has signed the agreements obliging to purchase of: the plot with the total area of app. 4.6 ha located in Gdańsk, Śródmieście district with the potential for construction of residential and service area with total usable area of about sqm and the plots with the total area of app. 4,2 ha located in Warsaw, Włochy district with the potential for construction of residential and service area with total usable area of about sqm 27

28 Agenda I. Summary II. Presales and hand-overs III. Financial results IV. Plans of ROBYG Group V. Appendices 28

29 Description of investments- completed (1) Nowa Rezydencja Królowej Marysieńki City: Warsaw District: Wilanów No. of stages: 10 No. of units: 1350 units Total sellable area: thousand sqm Start of construction: Q Completion date: Q Szczęśliwy Dom City: Warsaw District: Ochota No. of stages: 3 No. of units: 304 units Total sellable area: 18.1 thousand sqm Start of construction: Q Completion date: Q Osiedle Zdrowa City: Warsaw District: Wilanów No. of stages: 5 No. of units: 865 units Total sellable area: 57.0 thousand sqm Start of construction: Q Completion date: Q

30 Description of investments- completed (2) City Apartments City: Warsaw District: Żoliborz No. of stages: 6 No. of units: 1190 units Total sellable area: 88.0 thousand sqm Start of construction: Q Completion date: Q Osiedle Królewskie City: Warsaw District: Wilanów No. of stages: 6 No. of units: 640 units Total sellable area: 38.0 thousand sqm Start of construction: Q Completion date: Q Park Wola Residence City: Warsaw District: Wola No. of stages: 1 No. of units: 317 units Total sellable area: 16.9 thousand sqm Start of construction: Q Completion date: Q

31 Description of investments- completed (3) Modern Żoliborz City: Warsaw District: Żoliborz No. of stages: 1 No. of units: 138 units Total sellable area: 7.9 thousand sqm Start of construction: Q Completion date: Q Albatorss Towers City: Gdańsk District: Przymorze No. of stages: 5 No. of units: 860 units Total sellable area: 42.6 thousand sqm Start of construction: Q Completion date: Q Królewski Park City: Warsaw District: Wilanów No. of stages: 6 No. of units: 528 units Total sellable area: 27.4 thousand sqm Start of construction: Q Completion date: Q

32 Description of investments- completed (4) Young City City: Warsaw District: Bemowo No. of stages: 9 No. of units: 1302 units Total sellable area: 65.2 thousand sqm Start of construction: Q Completion date: Q

33 Description of investments- under construction (1) Lawendowe Wzgórza/ Stacja Nowy Gdańsk City: Gdańsk District: Jasień No. of stages: app. 42 Stages completed: 14 Stages under construction*: 6 Słoneczna Morena City: Gdańsk District: Piecki-Migowo No. of stages: app. 23 Stages completed: 16 Stages under construction*: 4 Osiedle Kameralne City: Warsaw District: Bemowo No. of stages: 5 Stages completed: 2 Stages under construction*: 1 No. of units: app units (completed: 1245 units) Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q No. of units: app units (completed: 1458 units) Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q *Including stages in presale which construction has not begun yet (as at 31 December 2016). No. of units: app. 550 units (completed: 243 units) Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q

34 Description of investments- under construction (2) Młody Wilanów City: Warsaw District: Wilanów No. of stages: 3 Stages completed: 2 Stages under construction*: 1 No. of units: app. 260 units (completed: 182 units) Total sellable area: app thousand sqm Osiedle Kameralne II City: Warsaw District: Bemowo No. of stages: 3 Stages completed: 1 Stages under construction*: 1 No. of units: app. 400 units (completed: 161 units) Total sellable area: app thousand sqm Mila Baltica City: Gdańsk District: Zaspa No. of stages: 2 Stages completed: 1 Stages under construction*: 1 No. of units: app. 280 units (completed: 128 units) Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q Start of construction: Q Planned completion date: Q *Including stages in presale which construction has not begun yet (as at 31 December 2016). Start of construction: Q Planned completion date: Q

35 Description of investments- under construction (3) Apartamenty Villa Nobile City: Warsaw District: Wilanów No. of stages: 3 Stages under construction*: 3 Green Mokotów City: Warsaw District: Mokotów No. of stages: 12 Stages under construction*: 5 MoreNova City: Gdańsk District: Piecki-Migowo No. of stages: 3 Stages under construction*: 2 No. of units: app. 625 units No. of units: app. 755 units No. of units: app. 525 units Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q *Including stages in presale which construction has not begun yet (as at 31 December 2016). Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q

36 Description of investments- under construction (4) Stacja Nowy Ursus City: Warsaw District: Ursus No. of stages: 6 Stages under construction*: 3 No. of units: app units Total sellable area: app thousand sqm Zajezdnia Wrzeszcz City: Gdańsk District: Wrzeszcz No. of stages: 5 Stages under construction*: 2 No. of units: app units Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q Start of construction: Q Planned completion date: Q *Including stages in presale which construction has not begun yet (as at 31 December 2016). 36

37 Description of investmentson offer which construction has not started Young City 2 Nowa Letnica Forum Wola City: Warsaw District: Bemowo City: Gdańsk District: Letnica City: Warsaw District: Wola No. of stages: 3 Stages in presale: 1 No. of stages: 10 Stages in presale: 2 No. of stages: 4 Stages in presale: 1 No. of units: app. 580 units No. of units: app units No. of units: app. 950 units Total sellable area: app thousand sqm Total sellable area: app thousand sqm Total sellable area: app thousand sqm Start of construction: Q Planned completion date: Q Start of construction: Q Planned completion date: Q Start of construction: Q Planned completion date: Q

38 Presale: Investments under construction on offer - Warsaw (1) Units under construction on offer (Warsaw): 1086 in 9 stages Incl. presold units as at 31 December 2016: 763 (70%) Osiedle Kameralne Stage: 3 40 units Planned completion date: Q Total sellable area: 2,273 sqm Location: Bemowo Apartamenty Villa Nobile Stages: 1, 2, units Planned completion date: Q2 2017, Q4 2017, Q Total sellable area: 39,001 sqm Location: Wilanów Presold: 14 35% Presold: % 38

39 Presale: Investments under construction on offer - Warsaw (2) Units under construction on offer (Warsaw): 1086 in 9 stages Incl. presold units as at 31 December 2016: 763 (70%) Młody Wilanów Stage: 3 75 units Planned completion date: Q Total sellable area: 3,746 sqm Location: Wilanów Stacja Nowy Ursus Stage: units Planned completion date: Q Total sellable area: 7,083 sqm Location: Ursus Presold: 62 83% Presold: % 39

40 Presale: Investments under construction on offer - Warsaw (3) Units under construction on offer (Warsaw): 1086 in 9 stages Incl. presold units as at 31 December 2016: 763 (70%) Green Mokotów Stages: 1a, 2, units Planned completion date: Q4 2017, Q3 2017, Q Total sellable area: 13,757 sqm Location: Mokotów Presold: % 40

41 Presale: Investments under construction on offer - Gdańsk (1) Units under construction on offer (Gdańsk): 1695 in 13 stages Incl. presold units as at 31 December 2016: 1111 (66%) Lawendowe Wzgórze/ Stacja Nowy Gdańsk Stages: 15, 16, 17, 18, 19, units Planned completion date: Q1 2017, Q2 2017, Q4 2017, Q4 2017, Q4 2017, Q Total sellable area: 27,897 sqm Location: Jasień Presold: % Słoneczna Morena Stages: 16, 17, 18, units Planned completion date: Q1 2017, Q1 2017, Q1 2018, Q Total sellable area: 27,522 sqm Location: Piecki-Migowo Presold: % 41

42 Presale: Investments under construction on offer - Gdańsk (2) Units under construction on offer (Gdańsk): 1695 in 13 stages Incl. presold units as at 31 December 2016: 1111 (66%) Mila Baltica Stage: units Planned completion date: Q Total sellable area: 7,889 sqm Location: Zaspa MoreNova Stage: units Planned completion date: Q Total sellable area: 8,412 sqm Location: Piecki-Migowo Presold: % Presold: % 42

43 Presale: Investments under construction on offer - Gdańsk (3) Units under construction on offer (Gdańsk): 1695 in 13 stages Incl. presold units as at 31 December 2016: 1111 (66%) Zajezdnia Wrzeszcz Stage: units Planned completion date: Q Total sellable area: 10,053 sqm Location: Wrzeszcz Presold: % 43

44 Presale: Investment on offer which construction has not started yet: Warsaw (1) Units on offer which construction has not started yet (Warsaw): in 7 stages Osiedle Kameralne II Stage: units Planned start date: Q Planned completion date: Q Total sellable area: 5,777 sqm Location: Bemowo Green Mokotów Stages: 1b, units Planned start date: Q2 2017, Q Planned completion date: Q3 2018, Q Total sellable area: 13,720 sqm Location: Mokotów Presold: 41 37% Presold: 23 11% 44

45 Presale: Investment on offer which construction has not started yet: Warsaw (2) Units on offer which construction has not started yet (Warsaw): in 7 stages Young City 2 Stage: units Planned start date: Q Planned completion date: Q Total sellable area: 10,285 sqm Location: Bemowo Stacja Nowy Ursus Stage: 2, units Planned start date: Q1 2017, Q Planned completion date: Q4 2017, Q Total sellable area: 17,082 sqm Location: Ursus Presold: % Presold: 21 6% 45

46 Presale: Investment on offer which construction has not started yet: Warsaw (3) Units on offer which construction has not started yet (Warsaw): in 7 stages Forum Wola Stage: units Planned start date: Q Planned completion date: Q Total sellable area: 9,740 sqm Location: Wola Presold: 43 27% 46

47 Presale: Investment on offer which construction has not started yet: Gdańsk (1) Units on offer which construction has not started yet (Gdańsk): 702 in 4 stages Zajezdnia Wrzeszcz Stage: units Planned start date: Q Planned completion date: Q Total sellable area: 11,946 sqm Location: Wrzeszcz Presold: 52 22% Nowa Letnica Stages: 1, units Planned start date: Q1 2017, Q Planned completion date: Q2 2018, Q Total sellable area: 11,087 sqm Location: Letnica Presold: % 47

48 Presale: Investment on offer which construction has not started yet: Gdańsk (2) Units on offer which construction has not started yet (Gdańsk): 702 in 4 stages MoreNova Stage: units Planned start date: Q Planned completion date: Q Total sellable area: 11,295 sqm Location: Piecki-Migowo Presold: 70 31% 48

49 Ownership structure Oscar Kazanelson & Managing Team 9.96% 9,96% PZU OFE 9.08% Others 39.17% 9,08% 39,17% 8,25% Aegon OFE 8.25% 9,51% Aviva OFE 9.51% Nationale- Nederlanden OFE 8.10% 8,10% 8,74% PKO BP Bankowy OFE 8.74% 7,19% Generali OFE 7.19% *According to Consolidated Financial Statements for the year ended 31 December

50 HIGHTLIGHTS Please contact us: Investor Relations ROBYG SA tel. (22) * Assuming the continuation of the proportional consolidation for JV projects, ** Including amounts kept on individual escrow accounts and in Mutual Funds. 50