MLP Group increased its revenue and net profit after three quarters of 2024

The MLP Group continues its dynamic development in key markets. Faced with increasing demand for warehousing space, it strengthens its position through strategic investments and a flexible approach to managing its property portfolio.

• Revenues reaching 278.3 million PLN (+4% YoY), 64.7 million EUR (+10% YoY)
• Rental income of 161.3 million PLN (+8% YoY), 37.5 million EUR (+15% YoY)
• Increased value of investment properties to 5,225.8 million PLN (+15% as of 31st December 2023), 1,221.2 million EUR (+17% as of 31st December 2023)
• Net Asset Value (NAV) of 2,640.1 million PLN (+10% compared to 31st December 2023), 617 million EUR (+12% compared to 31st December 2023)
• NAV per share: 110 PLN (+10% compared to 31st December 2023), 25.7 EUR (+12% compared to 31st December 2023)
• EBITDA excluding revaluations at 141.4 million PLN (+4% YoY), 32.9 million EUR (+11% YoY)
• FFO (Funds From Operations) at 54.0 million PLN (-26% YoY), 12.6 million EUR (-21% YoY).
• Net profit of 265.1 million PLN; 61.6 million EUR

In the first three quarters of this year, MLP Group’s consolidated revenue improved by 4% year on year to 278.3 million PLN. Counting only the rent from investment properties, it increased by 8% to 161.3 million PLN. The value of investment properties increased by 15% to over 5.2 billion PLN. The net asset value (NAV) increased by 10% to over 2.6 billion PLN.

In the first half of October, MLP Group issued bonds with a total nominal value of 300 million EUR. The bonds were listed on the Official List of the Luxembourg Stock Exchange and admitted to and introduced to the Euro MTF alternative trading system run by the exchange.

“We assess the situation in the industry positively in all serviced markets. The funds obtained from the bond issue will be mainly used for further development, including a large part for investments made on the German market, where we will allocate around 60% of the raised amount. Recently, we purchased a plot near Düsseldorf for a data center project. This is one of our significant development directions. We are also starting the implementation of several ventures, including in Schalke, Frankfurt, or Spreenhagen near Berlin. Of course, we want to continue to develop strongly on our domestic Polish market. In the near future, we plan to acquire attractive land in Rzeszów near the border with Ukraine. We plan to implement a logistics center there, attracting investments that will serve our eastern neighbors. We also have planned purchases of plots in other parts of our country. We will continue to focus on expansion in Austria and Romania as well. We want to be in Amsterdam in the near future. However, it is Poland and Germany that will make up the majority, about 80-90% of the portfolio” – said Radosław T. Krochta, President of the Management Board of MLP Group S.A.

MLP Group is dynamically developing activities in the Polish, German, Austrian, and Romanian markets. The Group currently runs 23 logistics parks. The strategic objective remains to broaden the warehousing offer as part of urban logistics development projects and Big Box-type buildings. At the end of the past quarter, the Group had nearly 1.2 million sqm of ready space. Another approximately 260,000 sqm was either under construction or in preparation. The construction potential on owned land reaches 1.9 million sqm.

In accordance with the “build & hold” strategy, the MLP Group, after the construction of logistic parks, keeps them in its portfolio and manages them independently. All projects implemented by the Group are also distinguished by the very attractive location of logistic parks, the use of built-to-suit solutions, and support for the lessee during the lease agreement.