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Unidevelopment: corporate bonds on Catalyst

Unidevelopment has 1 bond series listed on Catalyst with an issue value of PLN 55m. Next maturity: UDV0928, PLN 55m, 13 September 2028. Net debt / EBITDA: 2.76× (2025 annual report).

Key figures

2025 annual report (unidevelopment.pl) · as at 11 Nov 2026
Next maturityPLN 55mUDV0928 · 13 Sep 2028 (in 672 days)
Cash · end 2025PLN 52.2mmaturities in 12 months: 0
Net debt / EBITDA · 20252.76×Unidevelopmentmedian of 22 companies: 2.13×
Interest cover · 20252.71×EBITDA / interestUnidevelopmentmedian of 20 companies: 4.12×
Watch out forNo warning signsevents and reports from the last 12 months
Revenue · 2025PLN 224.1m−25% y/ynet profit PLN 13.3m

Data on series and maturity dates come from GPW Catalyst. This page describes the company’s data and is not an investment recommendation.

Sector: Residential developersBonds on Catalyst: 1 seriesNominal value at issue: PLN 55 millionNext maturity: 13 September 2028 (UDV0928)Website: unidevelopment.pl

Unidevelopment S.A., based in Warsaw, is a residential developer building housing estates in Warsaw, Gdańsk and Radom and running the Fama Jeżyce joint venture in Poznań. It is a subsidiary of Unibep S.A., and its shares are not listed. Its bonds on Catalyst are unsecured. The company has made loans to its partner JB Investment and is in a court dispute with it.

Financial results

PLN million, consolidated figures; figures from the company’s reports. A dash (–) means the figure is not in our database.

Item2023202420256M 2026
Revenue315.8p299.0224.153.7*
Operating profit (EBIT)55.8p171.628.5−1.27*
Net profit30.2*p71.313.3−5.50*
Total assets790.4p799.6p772.2767.1
Equity333.1p452.8p472.9467.8
Total liabilities457.3p346.8p299.3299.3
Cash and cash equivalents124.9p62.952.263.0
Net debt–77.488.0*–

* Figure matches the company document (half-year report for H1 2026; annual report for 2024; annual report for 2025) but has not yet been confirmed by a later report.

p Figure taken from the comparative column of a later company document (2023: annual report for 2024; 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 2024, 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.

Ratio202320242025
Interest cover (how many times operating profit covers interest expense)–13.64× (EBITDA)2.71× (EBITDA)
Net debt / EBITDA (years of operating profit before depreciation needed to cover the debt)–0.44×2.76×
Net debt / equity (net debt relative to shareholders’ equity)–0.17×0.19×
Equity / total assets (share of assets financed by equity)42.1%56.6%61.2%
Operating cash flow − capital expenditure (PLN million, cash from operations after investment)–−51.330.8

Sources: 2023 annual report, 2024 annual report.

Bonds on Catalyst

SeriesMaturityInterest rateRate typeMarginSecurityYield to maturity
UDV092813 Sep 20288.66%Floating (6M WIBOR)+4.80 ppUnsecured8.12%

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 Unidevelopment bonds

How many Unidevelopment bond series are listed on Catalyst?

Unidevelopment has one bond series listed on Catalyst, with a nominal value of PLN 55 million. It matures on 13 September 2028.

When does the next Unidevelopment bond mature?

The next maturity is series UDV0928 on 13 September 2028 (nominal value PLN 55 million). An early redemption at the issuer’s request can change these dates.

How is the interest on Unidevelopment bonds set?

The series pays a floating rate: 6M WIBOR plus a margin of 4.80 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.

Are Unidevelopment 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 Unidevelopment are on the Polish-language issuer page.

This material is for information purposes only and does not constitute investment advice.

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