Archicom (ARH) Q3 2025 earnings summary

Executive summary

• Achieved 1,781 units sold in 9M 2025, a 21% year-over-year increase, leading the market in sales growth among major developers.

• Focused on residential real estate development in major Polish cities, with a strategic shift away from commercial projects.

• Diversified land bank covers 11,908 units, supporting future growth and aiming for a 50% sales volume increase in 2–3 years.

• Over half of the Q3 2025 offering was in the popular segment, aligning with market demand.

• 92% of units in completed projects sold by end of Q3 2025.

Financial highlights

• Revenue for 9M 2025 was PLN 523.4 million, down from PLN 567.6 million year-over-year.

• Net profit for 9M 2025 was PLN 4.8 million, a significant decrease from PLN 77.6 million in 9M 2024.

• Gross profit from sales reached PLN 194.1 million, with a gross margin of 37.1% (down from 38.1%).

• Basic EPS was PLN 0.08, down from PLN 1.33 year-over-year.

• Net cash from operating activities was PLN -52.0 million, improved from PLN -270.1 million year-over-year.

Outlook and guidance

• Targeting 2,800–3,000 units sold and 2,400 handovers in 2025.

• Building a sales pipeline for 2026 with a goal of 4,000 units sold annually.

• Group expects further improvement in sales driven by lower interest rates and stable construction costs.

• Expecting strong sales in Q4 2025, with October sales already surpassing full-year 2024.

• Key internal drivers include handover of apartments in major projects in Q4 2025, cost control, and asset revaluations.