Dom Development (DOM) Q1 2025 earnings summary

Executive summary

• Net sales exceeded 1,000 units in Q1 2025, up 2% year-over-year, maintaining market leadership in Poland.

• Net profit reached PLN 148.4 million, an 8% increase year-over-year, with a gross margin of 34.2%.

• Revenue for Q1 2025 reached PLN 742 million, up 5% year-over-year.

• 5,029 units sold but not yet delivered, representing PLN 3.8 billion in future revenue.

• Cash transactions accounted for 47% of total sales, highlighting strong investment demand despite high mortgage rates.

Financial highlights

• Revenue for Q1 2025 was PLN 742 million, up 5% year-over-year.

• Net profit: PLN 148.4 million, up from PLN 137.4 million year-over-year.

• EPS increased by 8% to PLN 5.75.

• Cash and cash equivalents: PLN 488 million as of March 31, 2025.

• ROE for the last 12 months reached 36%, up from 28% as of March 2024.

Outlook and guidance

• High revenue potential in coming quarters with 5,029 units sold but not delivered.

• 3,870 units scheduled for handover in Q2–Q4 2025.

• Management expects continued expansion of the project pipeline, supported by stable construction costs and resilient demand.

• Land bank and project pipeline support sustained sales and development activity.

• No financial forecasts published beyond regulatory requirements for bondholders.