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UBM Development (UBS) investor relations material
UBM Development Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary27 Nov, 2025
Executive summary
Residential sales increased 25% year-over-year for the first three quarters of 2025, with 355 apartments sold and a pipeline of 2,800 units supporting future growth in major European cities.
Achieved a second consecutive profitable quarter in Q3 2025, with earnings before tax of €1.9 million and revenue for the first nine months reaching €97.3 million.
Strong balance sheet with an equity ratio of 30% and successful capital market activity, including €166.5 million raised and a full transition to green bond financing.
Business model improvements and a climate transition plan are underway, focusing on timber construction and decarbonization.
High pre-sale levels in Vienna and Prague provide forward visibility and resilience in core markets.
Financial highlights
Q3 2025 earnings before tax reached €1.9 million, marking the second consecutive profitable quarter.
Revenue for the first nine months of 2025 totaled €97.3 million, reflecting continued sales momentum.
Net debt stands at €583.2 million; balance sheet total is €1.164 billion.
Equity amounted to €348.9 million at quarter-end, with an equity ratio of 30%.
Cash and cash equivalents at the end of Q3 2025 were €142.3 million.
Outlook and guidance
2025 is expected to be significantly better than 2024, with continued profitability and growth in residential and a potential recovery in hotels.
Apartment sales projected to exceed 450 units for the year, a 10% increase year-over-year.
2026 is expected to remain challenging but will lay the foundation for future profits, with survivors benefiting from market consolidation.
Continued focus on liquidity and cautious project starts, especially in the office segment, requiring pre-leases above 25%.
Q4 is anticipated to be a logical continuation of Q3, with a full-year result around break-even.
Residential pipeline execution strategy
Impact of 100% green bond financing on UBM?
Liquidity management with increasing net debt?
When will doubled resi margins impact P&L?
Hotel asset strategy for 5 'on the shelf' properties?
Office market adaptation and liquidity management plans?
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Next UBM Development earnings date
Q4 202527 Mar, 2026
Next UBM Development earnings date
Q4 202527 Mar, 2026
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Frequently asked questions
UBM Development AG is an Austria-based real estate development company. The company specializes in the development, planning, and management of commercial and residential properties, with a primary focus on hotel, office, and residential projects. It operates across several European countries, offering comprehensive real estate solutions from initial concept to project completion. The company is headquartered in Vienna, Austria, and its shares are listed on the Vienna Stock Exchange.
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