AOW Faktoring: corporate bonds on Catalyst
AOW Faktoring has 5 bond series listed on Catalyst with an issue value of PLN 47m. Next maturity: AOW0227, PLN 5m, 22 February 2027. Net debt / equity: 2.96× (2025 annual report).
Key figures
2025 annual report (gpwcatalyst.pl) · as at 11 Nov 2026and 6 more
- AOW0528: covenant close to the limit (annual report)
- AOW0529: covenant close to the limit (annual report)
- AOW1027: covenant close to the limit (annual report)
- AOW1028: covenant close to the limit (annual report)
- interest cover 2025: 1.2×, below 1.5×
- maturities in the next 12 months exceed cash
Data on series and maturity dates come from GPW Catalyst. This page describes the company’s data and is not an investment recommendation.
AOW Faktoring S.A., based in Częstochowa, is a factoring company independent of banks that has been buying invoices from micro, small and medium-sized businesses since 2011. Its shares are not listed on a stock exchange, and the majority shareholder is its chief executive. Its bonds on Catalyst are secured by a registered pledge on a pool of receivables.
Financial results
PLN million, standalone figures; figures from the company’s reports. A dash (–) means the figure is not in our database.
| Item | 2024 | 2025 | 6M 2026 |
|---|---|---|---|
| Revenue | 8.79p | 12.4 | 7.72* |
| Operating profit (EBIT) | 4.85 | 6.60 | 7.78* |
| Net profit | 0.60p | 0.61 | 3.54* |
| Total assets | 79.2p | 97.9 | 106.6 |
| Equity | 22.4 | 21.1 | 24.7 |
| Total liabilities | 56.7p | 76.8 | 81.9 |
| Cash and cash equivalents | 0.48 | 0.67 | 0.30* |
* Figure matches the company document (half-year report for H1 2026) 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 2025, half-year report for H1 2026.
Debt and repayment capacity
Ratios based on annual reports (standalone), 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. As a financial company, it uses its debt to fund portfolios of receivables, so we do not show net debt / EBITDA.
| Ratio | 2024 | 2025 |
|---|---|---|
| Interest cover (how many times operating profit covers interest expense) | 1.16× (EBIT) | 1.20× (EBIT) |
| Net debt / equity (net debt relative to shareholders’ equity) | 2.04× | 2.96× |
| Equity / total assets (share of assets financed by equity) | 28.4% | 21.6% |
Sources: 2024 annual report.
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| AOW0227 | 22 Feb 2027 | 9.38% | Floating (3M WIBOR) | +5.50 pp | Secured (pledge) | 8.96% |
| AOW1027 | 23 Oct 2027 | 8.89% | Floating (3M WIBOR) | +5.00 pp | Secured (pledge) | 7.39% |
| AOW0528 | 25 May 2028 | 8.64% | Floating (3M WIBOR) | +4.80 pp | Secured (pledge) | 7.62% |
| AOW1028 | 24 Oct 2028 | 8.71% | Floating (3M WIBOR) | +4.80 pp | Secured (pledge) | 7.56% |
| AOW0529 | 20 May 2029 | 8.43% | Floating (3M WIBOR) | +4.60 pp | Secured (pledge) | 7.71% |
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 AOW Faktoring bonds
How many AOW Faktoring bond series are listed on Catalyst?
AOW Faktoring has 5 bond series listed on Catalyst with a total nominal value of PLN 47 million. Their maturity dates range from 22 February 2027 to 20 May 2029.
When does the next AOW Faktoring bond mature?
The next maturity is series AOW0227 on 22 February 2027 (nominal value PLN 5 million). The following ones are AOW1027 (23 October 2027) and AOW0528 (25 May 2028). An early redemption at the issuer’s request can change these dates.
How is the interest on AOW Faktoring bonds set?
All 5 series pay a floating rate: 3M WIBOR plus a margin of 4.60 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 AOW Faktoring bonds secured?
Security by number of series: secured (pledge): 5. 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 AOW Faktoring are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.