1. Poland Stocks

  2. •

    Finance

  3. •

    Real estate development
Cavatina Holding SA

Cavatina Holding SA

GGPW:CAV
12.70
PLN
+0.10
(+0.79%)
0.97EPS
14.41P/E
355.96MMarket Cap
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.77
1.41
2.37
3.67
3.26
6.09
5.2
11.41
14.7
Basic EPS, GAAP
6.08
6.4
5.85
9.16
1.07
3.56
0.43
0.13
0.97
Free Cash Flow per Basic Share
-1.22
-0.2
-5.75
-6.72
-5.19
-1
2.54
-3.18
-0.63
Dividend per Share
- -
0.4
0.16
- -
- -
- -
- -
- -
- -
Book Value per Share
15.2
21.27
26.89
42.33
42.52
46.08
46.51
46.64
46.85
Tangible Book Value per Share
11.88
17.94
23.57
39.01
39.27
42.83
43.26
43.39
43.61
Basic Weighted Avg Shares
25
25
25
21
25
25
25
25
25
Sales/Revenue/Turnover
19
35
59
76
83
155
132
290
372
Operating Margin (%)
-58.46
-19.89
21.5
-4.44
-21.33
-1.68
18.91
33.6
29.83
Depreciation Expense
1
1
2
4
6
8
7
6
6
Net Income, GAAP
151
159
146
190
27
91
11
3
25
Effective Tax Rate (%)
19.56
19.62
27.06
19.44
22.25
20.3
12.28
40.24
24.31
Profit Margin (%)
789.6
453.83
246.88
249.64
32.83
58.42
8.19
1.15
6.61
Working Capital
-102
-212
-88
-21
-61
12
-184
765
804
LT Debt
433
619
491
1,001
1,102
1,484
1,551
1,954
2,013
Total Equity
378
530
670
1,054
1,081
1,172
1,182
1,186
1,191
Return on Invested Capital (%)
- -
15.17
14.16
11.36
2.7
4.3
2.71
2.31
4.39
Return on Capital (%)
- -
15.62
12.64
12.28
2.18
5.89
3.22
2.19
4.43
Return on Common Equity (%)
- -
35.1
24.3
22.01
2.54
8.04
0.92
0.28
2.07

Capital Structure

PLN

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
189
314
293
LT Borrowings
1,941
1,904
1,950
LT Finance Leases
51
50
63
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
25
25
25
Market Capitalization
306
341
356

Working Capital

PLN

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1,375
1,476
1,506
Cash, Cash Equivalents & STI
124
154
129
Accounts Receivable, Net
41
24
66
Inventories
1,170
1,241
1,267
Total Current Liabilities
551
711
702
Payables & Accruals
- -
- -
- -
ST Debt
189
314
293
Deferred Revenue
- -
- -
- -

Growth Rates

PLN

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
13.91%
0.28%
Free Cash Flow
- -
-133.91%
-225.11%
Net Income, GAAP
- -
4.13%
-69.16%
Sales/Revenue/Turnover
- -
45.9%
119.22%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
29
32
36
35
132
2025
32
100
84
73
290
2026
115
- -
- -
- -
- -

Quarterly Earnings Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
0.62
0.15
-0.45
0.43
2025
-0.62
1.18
- -
-0.43
0.13
2026
0.22
- -
- -
- -
- -

Quarterly Dividends Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Rafal Malarz
Full Time Employees
81
Sector
Finance
Industry
Real estate development
Address
20 Wielicka Street Kraków MA Poland 30-552
IPO Date
Jul 23, 2021
Website
cavatina.pl
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Business
Cavatina Holding Spólka Akcyjna develops, constructs, commercializes, and manages premium Class-A office buildings and residential properties in Poland; its core services encompass land acquisition, architectural and interior design, general contracting via subsidiary Cavatina GW Sp. z o.o., leasing, marketing, fit-out, and property management, with projects featuring sustainable certifications including BREEAM and WELL; the company also operates shared office spaces through Quickwork Sp. z o.o. and maintains over 30 special-purpose vehicles for individual developments. Founded in 2017 and headquartered at ul. Wielicka 28B in Kraków, the firm targets major regional cities such as Kraków, Wrocław, Łódź, Katowice, and Warsaw, serving corporate tenants, businesses, and residential buyers with city-forming projects that integrate into urban fabric. In recent developments, Cavatina Holding secured a €270 million refinancing loan in October 2025 from a consortium of international banks including Erste Group Bank AG, Berlin Hyp, and Raiffeisenlandesbank Niederösterreich-Wien AG for 11 office buildings, marking one of Poland's largest such transactions; the group expanded into residential development, selling 620 apartments in the first nine months of 2025 across projects like WIMA Widzewska Manufaktura in Łódź and others totaling over 950 units under construction or planned, while pursuing a strategic shift toward residential alongside office portfolio stabilization aiming for 1 million sq. m. GLA by year-end.