Warimpex reported declining revenues but rising EBITDA in 2025's first nine months, with financial risks increasing due to high debt.

Warimpex Finanz- und Beteiligungsholding AG reported mixed results for the first nine months of 2025, with revenues down 6.2% to €14.8 million but EBITDA up 17.1% to €1 million. The investment properties segment performed well, driven by Poland’s office rental market, while the hotel and development segments underperformed. Despite improved cost control, net debt rose to €145 million and net gearing reached 212.1%, raising financial risk concerns. The company plans to finance 80% of its €80 million MOG31 residential project in Kraków with debt, with completion expected by 2026. Updated forecasts project 2025 full-year revenues of €19.1 million, EBITDA of €1.2 million, and a net loss of €5.9 million. The 12-month target price was lowered to €1.02.