Archicom (ARH) Q4 2025 earnings summary

Executive summary

• Achieved record residential sales and handovers in 2025, with over 2,850 apartments sold and more than 2,100 handovers, nearly doubling year-over-year, and a strategic focus on residential market expansion.

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

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

• Paid a record dividend of PLN 330 million in Q4, reflecting strong cash flow and commitment to shareholder returns.

• Continued expansion in key Polish cities, with a focus on Warsaw, Wrocław, Kraków, Poznań, and plans to enter Tri-City via a major acquisition.

Financial highlights

• 2025 consolidated revenue reached PLN 961.7 million, up from PLN 742.0 million year-over-year, driven by 1,320 flat handovers.

• Gross profit was PLN 320.6 million, with a gross margin of 33.3%, within the targeted 30%-40% range.

• 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: PLN 2.3 billion.

Outlook and guidance

• Targeting 3,200–3,500 apartment sales and 3,000–3,200 handovers in 2026, aiming to become a top-three developer in Poland.

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

• Strategic focus on growth in liquid market segments, operational efficiency, and expansion into Trójmiasto.

• Ongoing asset disposals in commercial segment, with two more Brain Park buildings and other office projects slated for sale in 2026.

• Continued focus on operational efficiency, scalable growth, and further debt reduction.