Archicom: corporate bonds on Catalyst
Archicom has 4 bond series listed on Catalyst with an issue value of PLN 620.6m. Next maturity: ARH0627, PLN 168m, 1 December 2026. Net debt / EBITDA: 4.96× (2025 annual report).
Key figures
2025 annual report (archicom.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.
Archicom S.A., based in Wrocław, is a residential developer listed on the Warsaw Stock Exchange (ticker ARH). It is part of the Echo Investment group, where it is responsible for flats for sale in Wrocław, Warsaw, Poznań, Łódź, Kraków and Katowice. Its bonds on Catalyst are unsecured and are not guaranteed by Echo Investment.
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 | 1,101.1p | 742.0 | 961.7 | 624.5* |
| Operating profit (EBIT) | 309.7p | 160.4 | 142.6 | 99.7* |
| Net profit | 255.8p | 107.2 | 84.0 | 74.4 |
| Total assets | 2,446.6p | 2,826.4p | 3,739.6p | 4,116.6 |
| Equity | 1,268.2p | – | 1,245.7p | 1,214.9 |
| Total liabilities | 1,178.4p | 1,570.9p | 2,493.8p | 2,901.7 |
| Cash and cash equivalents | 511.0p | 113.6 | 136.2 | 230.0* |
| Net debt | – | 631.5p | 757.5p | – |
* 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 (2023: company data (money2.wpcdn.pl); 2024: quarterly report for Q3 2025; 2025: quarterly report for Q1 2026; 2023: annual report for 2024). The company may have restated the earlier period, for example after a change in accounting policies.
Sources: company data (money2.wpcdn.pl), annual report for 2024, annual report for 2025, half-year report for H1 2026, quarterly report for Q3 2025, quarterly report for Q1 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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| Interest cover (how many times operating profit covers interest expense) | – | 6.37× (EBITDA) | – |
| Net debt / EBITDA (years of operating profit before depreciation needed to cover the debt) | – | 3.74× | 4.96× |
| Net debt / equity (net debt relative to shareholders’ equity) | – | – | 0.61× |
| Equity / total assets (share of assets financed by equity) | 51.8% | – | 33.3% |
| Operating cash flow − capital expenditure (PLN million, cash from operations after investment) | – | −134.4 | 52.1 |
Sources: 2023 annual report, 2023 annual report (2), 2024 annual report, 2024 annual report (2) and 1 more.
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| ARH0627 | 1 Dec 2026 | 7.08% | Floating (3M WIBOR) | +3.25 pp | Unsecured | 7.03% |
| ARH0628 | 19 Jun 2028 | 6.94% | Floating (3M WIBOR) | +3.10 pp | Unsecured | 6.71% |
| ARH0329 | 14 Mar 2029 | 6.38% | Floating (3M WIBOR) | +2.55 pp | Unsecured | 6.43% |
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 Archicom bonds
How many Archicom bond series are listed on Catalyst?
Archicom has 3 bond series listed on Catalyst with a total nominal value of PLN 478 million. Their maturity dates range from 1 December 2026 to 14 March 2029.
When does the next Archicom bond mature?
The next maturity is series ARH0627 on 1 December 2026 (nominal value PLN 168 million). The following ones are ARH0628 (19 June 2028) and ARH0329 (14 March 2029). An early redemption at the issuer’s request can change these dates.
How is the interest on Archicom bonds set?
All 3 series pay a floating rate: 3M WIBOR plus a margin of 2.55 to 3.25 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are Archicom bonds secured?
None of the 3 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 Archicom are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.