Dom Development (DOM) Q4 2024 earnings summary

Executive summary

• Achieved record net sales of 4,269 units, up 9% year-over-year, consolidating a leading position in the Polish residential market.

• Delivered a record 3,916 units, plus 300 units to an institutional PRS investor.

• Net profit reached PLN 569 million, a 24% increase year-over-year, with a gross margin of 32%.

• Maintained robust balance sheet with PLN 577 million in cash and no bank debt.

• Land bank supports five years of sales at current rates.

Financial highlights

• Revenue increased by 24% year-over-year to PLN 3,168 million.

• Net profit margin stable at 18%; EPS rose 23% to PLN 22.07.

• Gross profit on sales up 25% to PLN 1,019 million; operating profit up 25% to PLN 697 million.

• ROE reached 39%, with gearing reduced to 1.9%.

• Dividends paid totaled PLN 577 million.

Outlook and guidance

• 7,657 units under construction, with 3,776 units available for sale at year-end 2024.

• High revenue potential with 4,980 units sold but not yet delivered, representing PLN 3,697 million to be recognized.

• 4,548 units scheduled for handover in 2025 across multiple markets.