AB: corporate bonds on Catalyst
AB has 2 bond series listed on Catalyst with an issue value of PLN 190m. Next maturity: ABE0227, PLN 80m, 18 February 2027. Net debt / EBITDA: 0.26× (2025 annual report).
Key figures
2025 annual report (ab.pl) · as at 11 Nov 2026Data 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.
AB S.A., based in Magnice near Wrocław, is a wholesale distributor of IT equipment, consumer electronics and software in Poland, the Czech Republic and Slovakia. The company is listed on the Warsaw Stock Exchange and its financial year ends on 30 September. Its bonds on Catalyst are unsecured.
Financial results
PLN million, consolidated figures; figures from the company’s reports. A dash (–) means the figure is not in our database.
| Item | 2023/24 | 2024/25 | 2025 | 9M 2026 |
|---|---|---|---|---|
| Revenue | 14,658.2* | 14,931.2* | – | 13,560.5* |
| Operating profit (EBIT) | 285.7* | 267.0* | – | 289.5* |
| Net profit | 174.7 | 173.9 | 173.9p | 191.1 |
| Total assets | 3,875.8 | 4,220.0 | – | 4,767.0 |
| Equity | 1,392.2 | 1,528.6 | – | 1,607.6 |
| Total liabilities | 2,483.6 | 2,691.3 | – | 3,159.4 |
| Cash and cash equivalents | 143.6 | 134.6 | – | 63.1* |
* Figure matches the company document (company data (ab.pl); quarterly report for Q2 2026; annual report for the financial year to 30 September 2024; annual report for the financial year to 30 September 2025) but has not yet been confirmed by a later report.
p Figure taken from the comparative column of a later company document (2025: half-year report for the half-year to 31 March 2026). The company may have restated the earlier period, for example after a change in accounting policies.
Sources: company data (ab.pl), quarterly report for Q2 2026, annual report for the financial year to 30 September 2024, annual report for the financial year to 30 September 2025, half-year report for the half-year to 31 March 2026, quarterly report for Q2 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) | 4.85× (EBITDA) | 6.66× (EBITDA) |
| Net debt / EBITDA (years of operating profit before depreciation needed to cover the debt) | 0.32× | 0.26× |
| Net debt / equity (net debt relative to shareholders’ equity) | 0.07× | 0.05× |
| Equity / total assets (share of assets financed by equity) | 35.9% | 36.2% |
| Operating cash flow − capital expenditure (PLN million, cash from operations after investment) | 228.1 | 104.5 |
Sources: 2024 annual report, 2024 annual report (2), 2024 annual report (3).
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| ABE0227 | 18 Feb 2027 | 6.44% | Floating (6M WIBOR) | +2.60 pp | Unsecured | 6.20% |
| ABE0730 | 15 Jul 2030 | 5.46% | Floating (6M WIBOR) | +1.60 pp | Unsecured | 5.55% |
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 AB bonds
How many AB bond series are listed on Catalyst?
AB has 2 bond series listed on Catalyst with a total nominal value of PLN 190 million. Their maturity dates range from 18 February 2027 to 15 July 2030.
When does the next AB bond mature?
The next maturity is series ABE0227 on 18 February 2027 (nominal value PLN 80 million). The following one is ABE0730 (15 July 2030). An early redemption at the issuer’s request can change these dates.
How is the interest on AB bonds set?
All 2 series pay a floating rate: 6M WIBOR plus a margin of 1.60 to 2.60 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are AB bonds secured?
None of the 2 series is secured: bondholders have no priority claim on any specific asset of the company.
Source: our database of Catalyst series, terms and conditions of the bonds and company announcements.
Our full analysis, financial results and news on AB are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.