Archicom (ARH) Q4 2025 earnings summary

Executive summary

• Achieved record residential sales and handovers in 2025, with Archicom delivering 1,320 flats, selling over 2,850 units, and marking a 30% year-over-year sales growth; focus shifted entirely to residential market.

• Significant commercial asset disposals, including Brain Park, Libero Shopping Center, and City2 office building, with total disposals valued at around EUR 300 million.

• Paid a record dividend of PLN 330 million in Q4, maintaining a stable dividend policy despite high CapEx; 2025 dividend not yet declared.

• Recognized with the MIPIM Awards 2025 for Best Urban Regeneration Project (Fuzja, Łódź) and for sustainable development initiatives.

• Continued investment in land bank and new project launches, with 32 projects in the pipeline and a focus on Warsaw, Wrocław, Kraków, and expansion into Trójmiasto.

Financial highlights

• 2025 consolidated revenue reached PLN 961.7 million, up from PLN 742.0 million year-over-year, driven by strong residential handovers.

• Gross profit was PLN 320.6 million, with a gross margin of 33.3%, down from 38.6% in 2024 due to delivery mix.

• Net profit for 12M 2025 was PLN 84.0 million, compared to PLN 107.2 million in 2024; Q4 net profit exceeded PLN 100 million, reversing a prior-year loss.

• SG&A per unit sold decreased by 10% year-over-year.

• Value of sold but not yet recognized units reached PLN 2.3 billion.

Outlook and guidance

• Ambition to become a top-three developer in Poland, with 2026 sales targets of 3,200–3,500 units and handovers of about 3,000–3,200 units.

• Planned land acquisition expenditure of PLN 600–700 million in 2026.

• Continued focus on operational excellence, scalable growth, and expansion into Tri-City via larger acquisitions.

• Ongoing reduction of corporate and bond debt, with no plans to issue new debt and a long-term debt/equity target below 0.5.