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Explainer
Develia in 2026: the former LC Corp after the 2019 rebrand, a Wrocław-based residential developer in the mWIG40, a four-member management board on ul. Traugutta 45
Develia S.A. (KRS 0000253077), headquartered at ul. Gen. Romualda Traugutta 45 in Wrocław, is one of Poland's largest residential developers listed on the WSE. The company has operated under the "Develia" brand since 2019 (previously as LC Corp, part of Leszek Czarnecki's group). Listed on the WSE since 2007, it is an mWIG40 constituent with a four-member management board and a seven-member supervisory board. Per the 2025 financial statements: PLN 2.08bn revenue (+16% YoY) and PLN 443.5m net profit.
Explainer
Dom Development in 2026: Poland's leading residential developer, an mWIG40 issuer at prestigious Plac Piłsudskiego, a five-member management board
Dom Development S.A. (KRS 0000031483), headquartered at Plac Piłsudskiego 3 in the heart of Warsaw, is the leader of Poland's residential development market. Founded in 1996 by Jerzy Ślusarski and listed on the WSE since 2006, the company is an mWIG40 constituent. Its 2025 financial statements show revenue of PLN 3.26bn and net profit of PLN 654m (up 15% year on year). Active in four main markets: Warsaw (its core), Tricity, Wrocław and Kraków. A five-member management board and an eight-member supervisory board.
Explainer
Echo Investment in 2026: the only mWIG40 mixed-use developer, headquartered in Kielce, controlled by Pimco and Oaktree after the Sołowow buyout
Echo Investment S.A. (KRS 0000007025), headquartered at Al. Solidarności 36 in Kielce, is the only mWIG40 Polish developer combining three segments: residential, office and retail. Founded in the 1990s by Michał Sołowow, the company has been listed on the WSE since 1996 (one of the longest-listed Polish developers). Since 2016 control has been held by US funds Pimco and Oaktree. Its 2025 financial statements show revenue of PLN 2.01bn and a net loss of PLN 33.5m. A five-member management board and an eight-member supervisory board.
News
Erbud 2026: the Onde renewables segment earned PLN 45m, but wood-modular and traditional construction lost PLN 82m – strategic review in 2026, PLN 1.68 per-share dividend
Warsaw-based Erbud S.A. (KRS 0000268667) – a general contractor with three business legs (traditional construction, Onde renewables, a wood-modular factory) – closed 2025 with consolidated revenue of PLN 3.23bn (-16% YoY) and net profit of PLN 10m (+20%). Backlog: PLN 2.55bn. The Onde renewables segment (PLN 45.3m EBIT, +171% YoY) and foreign industrial services (PLN 23.5m, +127%) were the winners; the wood-modular factory (-PLN 35m), domestic traditional construction (-PLN 25m) and foreign traditional construction (-PLN 22m) all lost money. The board announced a strategic-options review for 2026. Dividend: PLN 1.68 per share (PLN 20m), under a policy of 30–70% of consolidated profit.