Develia (DVL) Q4 2025 earnings summary

Executive summary

• Achieved record residential sales of 3,345 units in 2025, surpassing the annual target and marking a 70% year-on-year increase compared to 2024.

• Delivered 2,959 residential units in Q4 2025, exceeding the delivery target for the year.

• Expanded land bank to 15,972 units, including significant acquisitions and joint ventures.

• Finalized divestment of commercial assets, notably Arkady Wrocławskie for EUR 43 million.

• Entered major partnership and joint venture agreements, including a PPP with Gdańsk and acquisition of Bouygues Immobilier Polska.

Financial highlights

• Consolidated revenue reached PLN 2,076.9 million in 2025, up 16.1% year-over-year.

• Consolidated net profit was PLN 442.6 million, a 16.7% increase from 2024.

• Adjusted net profit (excluding revaluation effects) rose 26.8% to PLN 447.5 million.

• ROE (adjusted net profit) stood at 21.5% in 2025.

• Dividend payout for 2025 was PLN 265.5 million, with a payout rate of 75.3%.

Outlook and guidance

• 2026 sales target set at 3,600–3,800 units; delivery target at 3,750–3,950 units.

• Plan to add 4,350–4,550 new units to the offer in 2026.

• Long-term strategy aims for 4,500 annual sales by 2028 and a land bank for 15,800 units.