1. Poland Stocks

  2. •

    Finance

  3. •

    Real estate development
Develia S.A.

Develia S.A.

GGPW:DVL
8.40
PLN
-0.07
(-0.83%)
1.27EPS
8.28P/E
4.89BMarket Cap
Nov 19Next Earn
Develia S.A.
GPW:DVL
(Warsaw Stock Exchange)

Recent

price

8.40

P/E

ratio

8.28

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
PLN
0.35
0.33
0.39
0.47
0.8
1.01
1.22
1.58
1.78
1.83
1.16
2.04
2.39
3.59
3.95
4.52
6.97
Revenue per Share
0.11
0.14
0.15
0.16
0.17
0.24
0.25
0.18
0.36
0.26
-0.31
0.34
0.52
0.62
0.84
0.96
1.28
Basic EPS, GAAP
0.11
-0.1
-0.05
0.03
0.33
0.13
0.44
0.37
0.7
-0.2
0.13
0.19
0.37
0.22
0.65
0.38
0.74
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.18
0.07
0.24
0.27
0.1
0.17
0.45
0.4
0.5
0.58
- -
Dividend per Share
2.11
2.25
2.41
2.65
2.8
3.05
3.12
3.24
3.35
3.33
2.94
3.11
3.19
3.46
3.75
4.16
4.15
Book Value per Share
2.11
2.25
2.41
2.65
2.8
3.05
3.12
3.24
3.35
3.33
2.94
3.11
3.19
3.3
3.59
3.88
3.87
Tangible Book Value per Share
448
448
448
448
448
448
448
448
448
448
448
448
448
448
453
460
462
Basic Weighted Avg Shares
156
147
176
209
359
450
547
706
797
819
517
912
1,068
1,608
1,790
2,077
3,217
Sales/Revenue/Turnover
35.96
27.98
22.82
22.7
33.53
29.9
31.33
30.13
31.15
32.82
27.9
23.96
26.79
22.15
24.87
25.39
23.03
Operating Margin (%)
1
1
1
1
1
1
1
1
1
1
2
2
2
3
7
9
12
Depreciation Expense
50
61
69
74
76
109
113
80
160
117
-139
154
231
276
380
443
589
Net Income, GAAP
31.01
17.64
7.05
12.97
23.77
13.58
25.58
21.19
20.5
22.29
- -
23.67
15.14
19.25
20.57
18.21
20.76
Effective Tax Rate (%)
31.73
41.79
39.27
35.18
21.27
24.21
20.68
11.36
20.13
14.33
-26.84
16.88
21.63
17.14
21.25
21.35
18.31
Profit Margin (%)
728
749
772
649
704
663
585
576
659
1,286
926
804
1,033
1,630
2,011
2,210
2,471
Working Capital
198
306
418
680
814
857
912
897
1,083
906
618
515
396
616
863
661
972
LT Debt
971
1,033
1,079
1,185
1,255
1,365
1,396
1,448
1,498
1,492
1,318
1,394
1,427
1,548
1,717
1,928
1,924
Total Equity
4.32
6.53
3.49
4.36
5.22
5.99
6.35
2.8
7.7
5.04
- -
7.38
11.09
11.46
13.48
15.11
21.43
Return on Invested Capital (%)
4.94
5.45
5.19
4.55
4.48
5.9
5.52
4.09
7.16
5.44
- -
7.46
11.01
12.82
15.05
16.36
21.98
Return on Capital (%)
5.39
6.29
6.65
6.5
6.26
8.32
8.2
5.64
10.89
7.85
-9.88
11.35
16.37
18.54
23.31
24.36
33.14
Return on Common Equity (%)

Capital Structure

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
300
117
118
LT Borrowings
647
816
956
LT Finance Leases
15
17
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
463
463
463
Market Capitalization
3,915
4,105
4,893

Working Capital

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,675
4,655
4,534
Cash, Cash Equivalents & STI
317
425
676
Accounts Receivable, Net
12
18
21
Inventories
3,875
3,769
3,388
Total Current Liabilities
2,464
2,071
2,063
Payables & Accruals
- -
- -
- -
ST Debt
300
117
118
Deferred Revenue
- -
- -
- -

Growth Rates

PLN

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.72%
7.96%
12.26%
Free Cash Flow
28.1%
51.58%
-40.23%
Net Income, GAAP
-25.74%
-17.39%
16.63%
Sales/Revenue/Turnover
20.08%
34.27%
16.06%
Total Cash Common Dividend
- -
53.46%
17.4%

Quarterly Revenue

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
402
247
389
752
1,790
2025
254
495
567
761
2,077
2026
892
997
- -
- -
- -

Quarterly Earnings Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
0.14
0.15
0.36
0.84
2025
0.14
0.24
0.29
0.29
0.96
2026
0.38
0.31
- -
- -
- -

Quarterly Dividends Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.5
2025
- -
- -
- -
- -
0.58
2026
- -
- -
- -
- -
- -
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Business
Develia SA (DVL.WA), formerly LC Corp SA, is a Poland-based holding company that engages in real estate development and rental services; it develops and sells residential apartments and commercial properties including retail, office, and service spaces; and manages a portfolio of rental properties across segments of Rental Services, Development Activity, and Holding Activity. The company operates in major Polish cities such as Warsaw, Wroclaw, Krakow, Katowice, Gdansk, Poznan, and Lodz, targeting residential and commercial customers with sustainable, infrastructure-supported communities emphasizing green spaces and energy efficiency. Founded in 2006 and headquartered in Wroclaw at ul. Gen. Romualda Traugutta 45, Develia has delivered nearly 21,000 apartments totaling close to 1 million square meters. Recent developments include a preliminary agreement in August 2025 to acquire 100% of Bouygues Immobilier Polska for EUR 66.5 million to expand residential units and land bank in Warsaw, Poznan, and Wroclaw, expected to close by June 2025 pending regulatory approval; a joint venture cooperation agreement with funds managed by Rockbridge TFI SA and Derby Investments for a 90,000 square meter residential and service project in Gdynia Leszczynki; and an October 2025 acquisition of real property by a subsidiary.