PHN had PLN 185.6 mln net profit, PLN 44.9 million of adjusted EBITDA in Q1 ‘25
In Q1 2025, Polski Holding Nieruchomości (PHN) reported a PLN 185.6 million net profit, a sharp turnaround from a PLN 26.2 million loss the previous year. This record result was largely driven by a VAT refund. Operating profit reached PLN 101.9 million, while EBITDA rose to PLN 104.1 million. Revenue increased to PLN 223.8 million.
PHN is actively investing in commercial, residential, logistics, and renewable energy sectors. Key developments include the VENA office building in Warsaw and residential projects in Warsaw, Bydgoszcz, Kraków, Łódź, Gdynia, and Wrocław, totaling over 500 new apartments. PHN is one of Poland’s largest commercial real estate groups and has been listed on the Warsaw Stock Exchange since 2013.
