Archicom (ARH) Q4 2025 earnings summary

Executive summary

• Revenue reached 962 mln PLN for 2025, up from 742 mln PLN year-over-year, with net profit at 84 mln PLN, down from 107 mln PLN.

• 5,568 units were under construction and 1,322 units delivered; 453,520 sqm in preparation.

• Strategic focus shifted entirely to residential development, with commercial activities discontinued.

• Major asset sales included the City 2 office building in Wrocław for 31 mln EUR.

Financial highlights

• Operating profit was 143 mln PLN, down from 160 mln PLN year-over-year.

• Gross margin from sales was 33.5%, up from 38.6% year-over-year.

• EBITDA reached 154 mln PLN, with net debt to EBITDA at 4.93 (vs. 3.73 prior year).

• Cash flow from operations was 56 mln PLN, a significant improvement from -120 mln PLN year-over-year.

• Dividend payout for 2024 was 3.37 PLN per share, with 1.96 PLN paid in 2025.

Outlook and guidance

• The group aims to sell 3,000–4,000 apartments annually, supported by a land bank worth 381 mln PLN.

• Strategic focus is on residential projects in major Polish cities, with no further commercial investments planned.