◆ Inside the Latest Results (H1 2026)

Dom Development (DOM) — the variant view

A record half for sales, at a lower margin, paid for with half the net cash.

📈 DOM valuation, revenue & earnings — P/E, P/S, revenue, EPS →

Dom Development's first half of 2026 was its best half-year for sales1, and it earned a little more, at a lower margin.

H1 2026 against H1 2025 (% change)+24%Deliveries+21%Revenue+17%Net sales+5%Net profitDom Development H1 2026 management report
Volumes grew a fifth or more; profit grew 5%.

Net sales were 2 382 units, up 17%: Warsaw 1 081 (up 24%), the Tricity 611 (up 22%), Kraków 287 (up 26%) and Wrocław 403 (down 8%)2. Deliveries rose 24% to 1 976 units, and consolidated revenue rose 21% to 1 560,9 million złoty3.

Profit grew less than revenue. Net profit was 259 million złoty against 246 million, and the gross margin fell to 31% from 35%4.

The pipeline is the largest the company has had: 5 606 units sold but not yet delivered, worth 4 398 million złoty, and 9 402 units under construction5. The land bank, by contrast, shrank 6% to 17 844 units, with Wrocław down 38%, and Dom entered Poznań, its fifth market, with a first site for 228 units6.

Building that pipeline used cash. Net cash was 432 million złoty at 30 June against 870 million a year earlier, and operating activities absorbed 164,4 million7. Shareholders approved a record dividend of 14 złoty a share, paid on 2 July8.

The number to carry forward is the gross margin, 31% in the half. A further fall would mean the land Dom bought cheaply in the downturn is no longer covering today's construction costs.

References
  1. ReportedDom Development's first half of 2026 was its best half-year for sales.
    Dom Development H1 2026 sales — 2 382 net units sold, up 17% year on year and the best half in the company's history; Q2 sales of 1 221 net units marked an eighth consecutive quarter above 1 000 units — H1 2026 · publ. 2026 · source ↗
  2. ReportedNet sales were 2 382 units, up 17%: Warsaw 1 081 (up 24%), the Tricity 611 (up 22%), Krakow 287 (up 26%) and Wroclaw 403 (down 8%).
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
  3. ReportedDeliveries rose 24% to 1 976 units, and consolidated revenue rose 21% to 1 560,9 million złoty.
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
  4. ReportedNet profit was 259 million złoty against 246 million, and the gross margin fell to 31% from 35%.
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
  5. Reported5 606 units sold but not yet delivered, worth 4 398 million złoty, and 9 402 units under construction.
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
  6. ReportedThe land bank shrank 6% to 17 844 units, with Wroclaw down 38%, and Dom entered Poznan with a first site for 228 units.
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
  7. ReportedNet cash was 432 million złoty at 30 June against 870 million a year earlier, and operating activities absorbed 164,4 million.
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
  8. ReportedShareholders approved a record dividend of 14 złoty a share, paid on 2 July.
    Dom Development management report for the six months ended 30 June 2026 - sales, deliveries, stock, units under construction and land bank by city; revenue, net profit, gross margin, net cash, deferred income, dividend; entry into Poznan — H1 2026 · publ. 2026 · source ↗
Sources
Generated September 24, 2026