Warimpex Finanz- und Beteiligungs AG achieved a consolidated profit of €0.8 million in the first six months of 2026. The result was driven by higher revenue from the Polish office assets as well as valuation gains, which mitigated the impact of increased financing costs.
“We were able to build on last year’s momentum in the first half of this year and return to profitability for the first time in some while,” says Warimpex CEO Franz Jurkowitsch. “Whilst the economic environment remains characterised by a cautious economic outlook in the EU, as well as rising inflation and associated interest rate hikes, our core market of Poland continues to perform above average. This is thanks to a strong domestic market, a well-educated workforce and investments in infrastructure.”
The results received a further boost from strategic lettings successes during the reporting period: Warimpex extended lease agreements in Kraków with both an anchor tenant at the Mogilska 43 office and the tenant of the Mogilska 41 office. These contract extensions confirm tenant satisfaction with the properties on offer and ensure the stability of income for the coming years.
Half-year results in detail
Revenue from the letting of office properties increased by 12% to €7.8 million. This was primarily due to the full letting of the Mogilska 35 office building, which was completed at the end of 2023, but also to the positive performance of the co-working facilities in Łódź and Kraków. Despite a slight decline in performance at the hotel in Darmstadt, where Warimpex is currently establishing a new brand, ibis Styles, total revenue rose by 9% year-on-year. With expenses down by 5%, EBITDA improved significantly from EUR 0.6 million to €2.1 million.
Following the replanning and revaluation of a development site in Kraków, the result from depreciation, amortisation and remeasurement stood at a surplus of €3.2 million; in the first six months of 2025, the figure was still €-0.6 million from scheduled depreciation and amortisation. This resulted in a clearly positive EBIT of €5.3 million, following a flat zero in the corresponding period of the previous year.
The financial result changed from €-2.9 million to €-3.7 million due to higher interest rates and debt. Overall, this results in a profit for the period for the Group of €0.8 million, whereas a loss had to be recorded in the corresponding period of the previous year.
Current developments with a focus on Kraków
Warimpex’s first residential development in Poland, Mogilska 31 (MOG31) in Kraków, is progressing according to plan and construction is in full swing. Demand remains encouraging: contracts have already been signed with prospective buyers for 57 of the 145 condominiums. The building will have a total area of 8,000 sqm, including a retail area on the ground floor. Completion is scheduled for 2028. A co-living project is also in the planning stage in Kraków.
Outlook
“The current figures confirm we are on the right track: high-quality, modern and sustainable developments with a focus on office and residential properties, as well as on our existing portfolio,” Jurkowitsch explains. In the second half of the year, the focus will therefore be on continuing construction work at MOG31, further strengthening hotel operations in Darmstadt, and building on the ongoing marketing successes in the office and residential segments.
“Based on developments in the first half of the year and the current budget figures, the operational outlook for 2026 remains positive. Subject to further valuation results and the overall economic conditions, we are also aiming to remain in the black for the 2026 financial year,” concludes Franz Jurkowitsch.
