Summary of Q1-3 2025 in the Dekpol Group: Very good results in a volatile market

The DEKPOL Group, operating in the areas of general contracting, property development, and the production of buckets and accessories for construction machines, published its financial results for Q1–Q3 2025. The Group’s revenues for the period amounted to PLN 1.65 mln, representing a 30% y/y increase. The Group achieved EBITDA in the amount of PLN 123.7 million, which means a 41% y/y increase. The Group ended the nine-month period of 2025 with a net profit of PLN 76.8 million, marking growth by a 27% y/y.

As of the end of September 2025, net debt / EBITDA LTM ratio was at a safe level of 0.13.

 

General contracting segment

The general contracting segment (GW, Dekpol Budownictwo) is the DEKPOL Group’s largest business segment, accounting for 72% of revenues in Q1–Q3 2025. The GW segment’s revenues for the period amounted to PLN 913.4 million, an increase of 26% y/y, while operating profit reached PLN 56.4 million, representing a growth of over 55% y/y.

As of the end of September 2025, the company’s portfolio included contracts for external clients with a total contractual value of PLN 2,216 million net. Projects with a total value of approximately PLN 1,049 million net remained to be completed after reporting period. Additionally, within the GW segment, intra-group property development projects with a total value of over PLN 242 million are being carried out, with projects worth PLN 84 million remaining to be completed after reporting period.

Most contracts of the company Dekpol Budownictwo are carried out on behalf of private investors. Industrial and logistics projects constitute the largest share of the ordering portfolio — at the end of September 2025, they accounted for approximately 77% of the total portfolio.

 

Property development segment

In Q1–Q3 2025, property development segment generated revenues in the amount of PLN 222.6 million (over an 18% share in the Group’s revenues), and the operating profit amounted to PLN 58.3 million (+ 86% y/y and + 52% y/y, respectively). In financial results for Q1–Q3 of this year, the Dekpol Group recognized sales of 385 apartments from the property development segment (vs. 196 apartments in Q1–Q3 2024). Contracting in Q1–Q3 2025 (understood as preliminary, real-estate development, and reservation agreements) amounted to 527 apartments compared with 374 apartments in Q1–Q3 2024.

As of the end of September 2025, 683 apartments were available in the company’s sales offer.

 

Segment of production of buckets and accessories for construction machines

The segment of production of buckets and accessories for construction machines (Dekpol Steel) accounted for over 8% of the Group’s revenues in Q1–Q3 2025. The segment’s revenues for the period reached PLN 96.7 million (+6% y/y), while operating profit amounted to PLN 7.1 million (compared with PLN 10 million a year earlier). In the segment of production of buckets and accessories for construction machines, the Group continues to work intensively on rebuilding its ordering portfolio after challenges related to a decline in orders resulting from the war in Ukraine as well as disrupted logistics chains.

 

Commentary of Management Board to results for Q1-Q3 2025

We are pleased to say that the first nine months of this year have been operationally a very strong period for us. We have just closed the best three quarters in the DEKPOL Group’s history — so we are not slowing down the pace we set in the first half of the year. The results achieved are further proof of our growing efficiency and operational effectiveness in a still challenging market, made possible thanks to our professional team. They are also the result of consistent execution of adopted by DEKPOL strategy, focused on carrying out business tasks that deliver satisfactory margin levels, rather than merely securing revenues.

In the discussed period, the property development segment delivered expected results, recording over 86% growth in sales and a 52% y/y increase in operating profit. This confirms that Dekpol Deweloper has an offering well-suited to changing market conditions and effectively manages both, sales and execution processes of its projects, despite difficult macroeconomic and geopolitical circumstances.

General Contracting (GW) remains the foundation of our business operations – accounting for approx. 72% of the Group’s revenues in the first nine months of this year. Despite a demanding market, Dekpol Budownictwo continues to steadily scale up its operations: revenues increased by 26% y/y, while operating profit by 55% y/y. We consistently focus on project profitability, which translates into our achieved results. We aim for a diversified portfolio – the company is building technical competencies in construction areas in which it has not previously been active, which should positively support diversification of our ordering portfolio next year.

In the segment of production of buckets and accessories for construction machines, we continue to work intensively on rebuilding the portfolio after challenges related to the decline in orders resulting from the war in Ukraine and disrupted logistics chains.

To summarize – we have completed three quarters with stable results. Looking ahead, we take a realistic but moderately optimistic view, expecting an increase in the number of investments. As a Group, we will actively seek opportunities to participate in the extensive investment programme being implemented in Poland. – says Mariusz Tuchlin, President of Management Board of DEKPOL S.A.

 

We are very satisfied with the DEKPOL Group’s solid financial results for Q1–Q3 of this year, which provide significant support for our financial position in a still very demanding market. In order to maintain readiness for the implementation of further ambitious business tasks and to ensure safety as the scale of our operations grows, we continuously work on maintenance of an optimal financing structure. An example of this is signing in June of an investment loan agreement with PKO Bank Polski S.A. for PLN 150 million.

In such uncertain times, it is important for us to conduct business operations in a stable manner and to maintain a strong competitive position, thanks to consistently executed strategy and professionalism of our team, whose experience, commitment, and quick response to market changes genuinely strengthen organization’s resilience and allow us to maintain a competitive advantage. At the end of September, the net debt/EBITDA LTM ratio stood at a safe level of 0.13. The Group’s solid results and financial position allowed us once again to share profits with our Shareholders. In July, we paid out a dividend from the 2024 profit in the amount of PLN 28.8 million, or PLN 3.45 per share. – adds Katarzyna Szymczak-Dampc, Vice-President of Management Board, Financial Director of DEKPOL S.A.

 

Contact for media:

Katarzyna Sadowska

cc group

katarzyna.sadowska@ccgroup.pl

cellphone: +48 697-613-020

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Dekpol Capital Group is dynamically developing in construction and property development industry as well as in production of accessories for construction machines. The company was established in 1993. It owns a modern machine park and highly qualified staff. From the beginning of its business activities, it has ambition and determination to further dynamic development with usage of modern technologies. Business activities of the Dekpol Capital Group are based on three main segments. General Contracting services provide the largest share of the Group’s revenues. The offer covers a very wide range of activities. The company has extensive experience in implementation of industrial, logistic, commercial, public, sports and recreational facilities, as well as environmental protection facilities. It also carries out road, sanitary and hydrotechnical works. The company has an established leadership position in Northern Poland and is one of the largest general contracting companies for cubature facilities on a national scale. In turn, Dekpol Steel, the part of the Dekpol Capital Group, is a manufacturer of buckets and accessories for construction machines. It cooperates with the world’s largest manufacturers of construction machinery. The products are sold to Norway, Sweden, Germany, the USA, and Great Britain, and even to Morocco and Australia. The third dynamically developing segment of the Dekpol Capital Group is the property development activity, which, from the beginning of 2019, as a part of Dekpol Deweloper Sp. z o.o. offers flats, apartments, and commercial premises. Since January 2015, the shares of Dekpol S.A. are listed on the Warsaw Stock Exchange.

More information available at: https://dekpol.pl/