Archicom (ARH) Q4 2025 earnings summary

Executive summary

• Achieved record residential sales and handovers in 2025, with Archicom delivering 1,320 flats, Echo Group exceeding 1,000 units in Q4, and a total of 2,138 units handed over (+98% y/y), focusing on residential market expansion.

• Significant commercial asset disposals, including Brain Park, Libero Shopping Center, and City2 office building, with EUR 300 million in disposals and a continued focus on Warsaw CBD for new office projects.

• Resi4Rent platform signed a landmark deal to sell 18 projects, with plans to rebuild the portfolio to 5,000-6,000 units and repeat the cycle.

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

• Strong dividend payout of PLN 330 million in Q4, maintaining a consistent dividend policy despite high CapEx.

Financial highlights

• Revenue for 2025 reached PLN 961.7 million, up from PLN 742.0 million year-over-year, with a gross profit of PLN 320.6 million and gross margin of 33.3%.

• Operational profit was PLN 142.6 million; profit on continuing operations PLN 109.7 million.

• Net profit for 2025 was PLN 84.0 million, compared to PLN 107.2 million in 2024.

• Total assets grew over 30% to PLN 3.739 billion, with significant growth in client prepayments and inventory.

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

Outlook and guidance

• Ambition to become a top 3 developer in Poland, targeting 3,200–3,500 handovers and PLN 300–350 million in sales in 2026.

• Land acquisition budget for 2026 set at PLN 600–700 million.

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

• Ongoing reduction of corporate and bond debt, with no plans to issue new debt.

• Continued dividend payments expected, supported by asset disposals and residential growth.