BBI Development: corporate bonds on Catalyst
BBI Development has 1 bond series listed on Catalyst with an issue value of PLN 44.7m. Next maturity: BBI0227, PLN 44.7m, 24 February 2027.
Key figures
2025 annual report (bbidevelopment.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. This page describes the company’s data and is not an investment recommendation.
BBI Development S.A., based in Warsaw, is a developer listed on the Warsaw Stock Exchange. It operates as a holding company: projects are run by special purpose companies, mostly with partners, and the group earns mainly from management and design services for them. Its main projects are the completed Centrum Praskie Koneser on Ząbkowska Street, the Roma Tower residential high-rise under construction on Emilii Plater Street and the planned Rybaki-Łańsk project in Warmia. 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 | 2024 | 2025 | 6M 2026 |
|---|---|---|---|---|
| Revenue | 24.4 | 13.9 | 21.9 | 9.68 |
| Operating profit (EBIT) | 52.9 | 0.22 | −2.02 | 2.78 |
| Net profit | 50.9 | −3.37 | −8.45 | −1.02 |
| Total assets | 264.0 | 245.7 | 254.7 | 254.1 |
| Equity | 166.9 | 163.5 | 154.9 | 153.7 |
| Total liabilities | 97.1 | 82.2 | 99.8 | 100.5 |
| Cash and cash equivalents | 6.70 | 1.92 | 16.6 | 3.79* |
* Figure matches the company document (half-year report for H1 2026) but has not yet been confirmed by a later report.
Sources: annual report for 2023, company data (bbidevelopment.pl), annual report for 2025, half-year report for H1 2026, 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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| Interest cover (how many times operating profit covers interest expense) | 6.31× (EBITDA) | – | – |
| Net debt / EBITDA (years of operating profit before depreciation needed to cover the debt) | 1.08× | – | – |
| Net debt / equity (net debt relative to shareholders’ equity) | 0.35× | – | – |
| Equity / total assets (share of assets financed by equity) | 63.2% | 66.5% | 60.8% |
| Operating cash flow − capital expenditure (PLN million, cash from operations after investment) | −15.1 | – | – |
Sources: 2023 annual report, 2024 annual report, 2024 annual report (2).
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| BBI0227 | 24 Feb 2027 | 11.59% | Floating (6M WIBOR) | +7.75 pp | Unsecured | 10.01% |
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 BBI Development bonds
How many BBI Development bond series are listed on Catalyst?
BBI Development has one bond series listed on Catalyst, with a nominal value of PLN 45 million. It matures on 24 February 2027.
When does the next BBI Development bond mature?
The next maturity is series BBI0227 on 24 February 2027 (nominal value PLN 44.7 million). An early redemption at the issuer’s request can change these dates.
How is the interest on BBI Development bonds set?
The series pays a floating rate: 6M WIBOR plus a margin of 7.75 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are BBI Development bonds secured?
The series is unsecured: 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 BBI Development are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.