7R: corporate bonds on Catalyst
7R has 4 bond series listed on Catalyst with an issue value of PLN 285.9m + EUR 25.4m. Next maturity: SIR0228, PLN 150m, 4 February 2028.
Key figures
2025 annual report (7rsa.pl) · as at 11 Nov 2026Not shown yet: net debt / EBITDA. We only show figures verified against the company’s report, and these have not been confirmed yet.
Data on series and maturity dates come from GPW Catalyst; sources of the other figures are given in the tabs. This page describes the company’s data and is not an investment recommendation.
7R S.A. is one of the largest developers of warehouse and logistics space in Poland, specialising in energy-efficient buildings certified under BREEAM. Its shares are not listed on the Warsaw Stock Exchange; since April 2025 its green bonds have been listed on Catalyst. The Nordic investor NREP holds a majority of its shares and has operated under the Urban Partners brand since 2026.
Financial results
PLN million, consolidated figures; figures from the company’s reports. A dash (–) means the figure is not in our database.
| Item | 2023 | 2024 | 2025 | 6M 2026 |
|---|---|---|---|---|
| Revenue | 333.9 | 83.4p | 114.9 | 46.5 |
| Operating profit (EBIT) | −46.0 | −96.7p | −110.6* | −0.71* |
| Net profit | −9.78 | −140.4p | −160.6 | −11.8 |
| Total assets | 1,730.6 | 1,395.8p | 1,671.1 | 1,705.6 |
| Equity attributable to owners of the parent | 917.7 | 934.9p | 761.3 | 749.7 |
| Total liabilities | 802.9 | 460.6p | 909.6 | 931.3 |
| Cash and cash equivalents | 137.6* | 431.6* | 247.6 | 202.2 |
| Net debt | – | – | 275.2* | – |
* Figure matches the company document (annual report for 2025; half-year report for H1 2026; annual report for 2023) but has not yet been confirmed by a later report.
p Figure taken from the comparative column of a later company document (2024: annual report for 2025). The company may have restated the earlier period, for example after a change in accounting policies.
Sources: annual report for 2023, annual report for 2025, half-year report for H1 2026, annual report for 2025, half-year report for H1 2026.
Debt and repayment capacity
Ratios based on annual reports (consolidated), using only figures verified against the company’s filings. A dash (–) means the figure is not available; a negative interest cover means an operating loss.
| Ratio | 2024 | 2025 |
|---|---|---|
| Interest cover (how many times operating profit covers interest expense) | −1.57× (EBITDA) | −4.35× (EBITDA) |
| Operating cash flow − capital expenditure (PLN million, cash from operations after investment) | −316.9 | 65.9 |
Sources: 2024 annual report, 2024 annual report (2).
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| SIR0228 | 4 Feb 2028 | 8.64% | Floating (6M WIBOR) | +4.80 pp | Guaranteed | 8.24% |
| SIR0628 EUR | 3 Jun 2028 | 7.99% | Floating (6M EURIBOR) | +5.50 pp | Unsecured | 7.46% |
| SIR0928 | 15 Sep 2028 | 8.66% | Floating (6M WIBOR) | +4.80 pp | Unsecured | 8.30% |
| SIR0329 | 31 Mar 2029 | 8.14% | Floating (6M WIBOR) | +4.25 pp | Secured (other) | 8.17% |
Series codes link to the series pages in Polish. Yield to maturity is calculated by the Polish brokerage DM BDM, before tax and commissions; for floating-rate bonds it assumes the reference rate (WIBOR or EURIBOR) stays at its current level. “No quote” means no recent price.
Questions about 7R bonds
How many 7R bond series are listed on Catalyst?
7R has 4 bond series listed on Catalyst with a total nominal value of PLN 286 million and EUR 25 million (amounts in different currencies are shown separately). Their maturity dates range from 4 February 2028 to 31 March 2029.
When does the next 7R bond mature?
The next maturity is series SIR0228 on 4 February 2028 (nominal value PLN 150 million). The following ones are SIR0628 (3 June 2028) and SIR0928 (15 September 2028). An early redemption at the issuer’s request can change these dates.
How is the interest on 7R bonds set?
All 4 series pay a floating rate: 6M WIBOR (3) or 6M EURIBOR (1) plus a margin of 4.25 to 5.50 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are 7R bonds secured?
Security by number of series: guaranteed: 1, unsecured: 2, secured (other): 1. Secured or guaranteed series give bondholders an additional source of repayment if the issuer cannot pay.
Source: our database of Catalyst series, terms and conditions of the bonds and company announcements.
Our full analysis, financial results and news on 7R are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.