PHN Group closed the first quarter of 2025 with very good financial results. Net profit reached a historic high of PLN 185.9M, driven primarily by VAT refund. It is worth noting that operating profit for the period amounted to PLN 101.9M, an increase of 14.3% year-on-year.
In Q1 2025, PHN Group generated sales revenue of PLN 223.8M, which, after taking into account administrative and sales expenses, translated into a net sales profit of PLN 41.8M. This represents an increase of about 52% compared to the same period last year.
“The results of the reported quarter once again confirm the good condition of PHN Group as well as the effectiveness of its operations. Our financial and operational situation is improving, and the results generated show that we are consistently regaining growth momentum. We are intensifying our investment program in accordance with the “New Start” strategy for 2025-2030, adopted in March, which sets ambitious but realistic goals and allows us to look confidently into the future,” said Wiesław Malicki, President of the Management Board of Polski Holding Nieruchomości S.A.
In the first quarter of this year, EBITDA amounted to PLN 104.1M, compared to PLN 7.7M in the same period last year, and adjusted EBITDA rose to PLN 44.9M, compared to PLN 30.7M in the first quarter of 2024. PHN Group also generated significant growth from its development activities, as a result of commissioning a total of 73 units in three projects: KOLEJ na 19, Osiedle ŁAN in Wrocław and Osiedle Olimpijczyk II in Łódź.
“We have had a very successful quarter. We generated significant growth at the operating level, as evidenced by steadily increasing revenue and improving profitability of our assets and equity. In addition, we obtained cash, which strengthened PHN Group’s overall financial standing and improved our liquidity,” said Grzegorz Grotek, Member of the Management Board for Finance, Polski Holding Nieruchomości S.A.
PHN Group is consistently pursuing its investment program in the areas of commercial, residential, logistics and renewable energy properties. In the office sector, an important stage in the construction of the modern VENA office building at al. Prymasa Tysiąclecia 83 in Warsaw has recently been completed – the shell and core was closed and topped out, which is another milestone in the implementation of the A-class investment with an area of about 15,000 sqm. The construction is expected to be completed in the first quarter of 2026. Another office project in the capital is in the pipeline.
In the residential sector, PHN Group is currently developing four projects for sale: Młoda Białołęka II and Apartamenty Jana Pawła II 34 in Warsaw, Nowa Nakielska by PHN in Bydgoszcz, and Nowe Zabłocie in Krakow. In total, the estates currently under construction will deliver more than 500 apartments to the market in the three cities. In February this year, the second stage of the Osiedle Olimpijczyk project in Łódź was also completed. More residential projects are in the pipeline – a continuation of the prestigious Yacht Park estate in Gdynia, as well as new phases of Młoda Białołęka in Warsaw and Osiedle ŁAN in Wrocław.
In March, PHN Group announced its “New Start” strategy for 2025-2030, which aims for dynamic growth based on four pillars: Development, Rental, Construction and PRS. Among other things, the strategy envisages the construction of 3,200 apartments, 40,000 sqm of office space and 600,000 sqm of logistics space by 2030. At the same time, PHN Group has started investments in the area of renewable energy sources. Funding has been obtained for the construction of a photovoltaic farm with a capacity of about 18 MW in Owińska near Poznań. It is estimated that 70% of the energy produced will be used for PHN Group’s own properties, reducing the buildings’ carbon footprint and making rental more attractive to current and future tenants.
PHN Group continues to operate in line with its “New Start” strategy, focusing on long-term value growth, sustainable development and building a strong position as an integrator in the real estate market. The strong performance in the first quarter of 2025 lays a solid foundation for achieving ambitious goals for the following quarters.
***
ABOUT THE PHN GROUP
Polski Holding Nieruchomości S.A. is one of the largest groups in the Polish commercial property sector in terms of the market value of its portfolio. PHN Group has a diversified business profile – it is primarily active in the office, residential and logistics markets. PHN Group’s portfolio comprises more than 150 standalone properties with a market value of approx. PLN 3.5B. PHN Group provides comprehensive rental and management services – it currently manages more than 500,000 sqm of leasable space. PHN Group owns about 270 hectares of land earmarked for projects in various market segments. PHN Group is also active in the construction sector – by providing general contracting, subcontracting and design services, as well as in the development sector as an investor – by carrying out projects related to the construction and sale of residential units and the construction of commercial buildings. PHN Group’s main market is Poland. PHN’s activities in the rental segment are concentrated primarily in Warsaw and the largest regional cities, including the Tri-City, Poznań, Kraków, Katowice, Łódź and Wrocław. PHN has been listed on the Warsaw Stock Exchange since 13 February 2013.
Contact
Polski Holding Nieruchomości S.A.
Piotr Gołaszewski – Management Board Representative for Communications
Mob.: +48 506 324 523; E-mail: piotr.golaszewski@phnsa.pl
Contact
Polski Holding Nieruchomości S.A.
Piotr Gołaszewski – Management Board Representative for Communications
Mob.: +48 506 324 523; E-mail: piotr.golaszewski@phnsa.pl
