Monday, 17 March 2025
Develia Group has reported exceptional growth in its financial and operational performance for the first three quarters of 2024, achieving a net profit of PLN 215.6 million, a remarkable 72.8% increase compared to the same period last year.
The group’s sales revenues surged to PLN 1,037.6 million, a 32% jump from PLN 786.2 million in the corresponding period of 2023. Develia’s strong performance was bolstered by robust sales in its residential segment, with 2,700 units sold under development and preliminary agreements between January and September, marking a 31% increase from the 2,059 units sold last year. By the end of October, the developer had reached 2,933 unit sales, meeting its annual sales target two months ahead of schedule.
In terms of handovers, Develia transferred 1,797 units to clients during the first nine months of 2024, up 38% from 1,298 units in the same period last year. The company also launched and initiated construction on 3,482 new units during this period. Key projects driving this growth included Centralna Park and City Vibe in Kraków and Bemosphere in Warsaw.
Strengthening Market Position and Sustainability Goals
Commenting on the results, Develia’s President, Andrzej Oślizło, emphasized the company’s commitment to sustainable development and operational excellence. “Our sales results to date and those anticipated for the remainder of 2024 will further bolster Develia’s market share and strengthen our position at the forefront of the industry. In the final weeks of the year, we will focus on unit handovers and prepare new investments for next year,” Oślizło said.
Develia has continued its commercial property divestment strategy, concentrating efforts on the residential market. This strategy saw the company formally conclude operations at Arkady Wrocławskie in Q3 2024, with demolition scheduled following legal approval. The sale of Arkady Wrocławskie is targeted for completion by August 2025.
In August, Develia signed a preliminary agreement for the sale of its Kolejowa Street property in Wrocław to a subsidiary of AFI Europe for PLN 50.5 million net. A conditional sale agreement was finalized in November, with the transaction expected to close by year-end.
Financial Stability Amid Growth
Despite its aggressive expansion, Develia reported a strong cash position of PLN 586.4 million as of September 30, 2024, compared to PLN 703.4 million at the end of 2023. The group’s financial liabilities stood at PLN 950.3 million, reflecting an increase from PLN 883.9 million at the end of last year.
Vice President Paweł Ruszczak highlighted the company’s ability to deliver strong financial results while scaling its operations. “After three quarters, we see continued improvement in our financial performance compared to last year’s record results. Our solid financial position enables us to expand operations, increase market share, and distribute profits to shareholders. The accumulation of housing handovers in Q4 will further enhance our annual results,” he said.
With the completion of several key projects and strong sales momentum, Develia is poised to maintain its trajectory of growth and innovation, cementing its position as a leader in Poland’s residential real estate market.
