Warimpex Faces Financial Challenges Amid Mixed Results

Warimpex Finanz- und Beteiligungsholding AG's recent performance has diverged from expectations. While the company's 9M/25 results showed improvement over the previous year, they fell short of analysts' full-year 2025 estimates. Positive aspects included strict cost management and strong office rentals in Poland, buoyed by wage growth and GDP expansion. However, Warimpex's hotel segment lagged, reportedly buoyed by fees from the City of Darmstadt for housing Ukrainian refugees.

The company's net debt rose to EUR 145 million, indicating financial pressure. Warimpex plans to finance 80% of its MOG31 residential project in Cracow through debt, a move seen as risky in the current Polish real estate climate. The project's completion is expected by 2027, but financial gains from it may only be realized in 2028.

For 9M/25, revenues reached EUR 14.8 million, though net financial results improved, thanks to cost control. Looking ahead, 2025 forecasts have been adjusted downward, reflecting cautious optimism amid uncertain market conditions.