Lokum Deweloper (LKD) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2025 was PLN 51,015 thousand, a significant decrease from PLN 164,278 thousand year-over-year.

• Net profit attributable to equity holders was PLN 26,735 thousand, down from PLN 34,539 thousand in the prior year period.

• The period included a one-off gain from the sale of land in Kraków, which positively impacted results.

• The company distributed a dividend of PLN 0.50 per share in June 2025, totaling PLN 9,000 thousand.

Financial highlights

• Gross profit from sales was PLN 19,722 thousand, compared to PLN 63,104 thousand year-over-year.

• Operating profit was PLN 37,830 thousand, down from PLN 42,269 thousand.

• Net cash flow from operating activities was negative at PLN -83,334 thousand, compared to PLN -40,051 thousand in the prior year.

• Total assets increased to PLN 842,854 thousand from PLN 700,620 thousand at year-end 2024.

• Equity attributable to shareholders rose to PLN 549,091 thousand from PLN 533,193 thousand.

Outlook and guidance

• The market is in a phase of slower recovery, with demand for new housing rebuilding gradually.

• Rising costs due to public infrastructure investments and regulatory changes are expected to pressure margins.

• The company is focusing on cost discipline, operational efficiency, and diversifying funding sources.