Strategic Goals
for years 2024-2028
Financial forecast for 2024 – 2028
2023 | 2024e | 2025e | 2026e | 2027e | 2028e | |
---|---|---|---|---|---|---|
Actual | Planned strategic goals (min – max) | |||||
Revenue (in EUR mn) |
80 | 83-98 | 111-131 | 131-155 | 156-184 | 183-215 |
EBITDA without revaluation (in EUR mn) |
40 | 44-52 | 64-76 | 78-92 | 95-111 | 112-132 |
FFO (in EUR mn) |
21 | 20-23 | 26-31 | 35-41 | 43-50 | 51-60 |
NAV per share (in EUR) |
23 | 26-31 | 33-39 | 36-43 | 43-51 | 48-56 |
exchange EUR/PLN rate applied: | 4.35 PLN |
4.30 PLN | 4.25 PLN | 4.20 PLN | 4.20 PLN | 4.20 PLN |
The Company will aim at reporting in Euro from 2025/2026.
Since our inception in 1998, we have exhibited exceptional organic growth across Europe, driven by a strategic emphasis on long-term planning, standardization, and tenant-centric development – 2024-28 strategic goals, above all, are a continuation of previous strategic goals and continuation of MLP Group growth story.
Main strategic goals include:
- increase NAV per share from EUR 23 as at 2023 to EUR 48- EUR 56 as at 2028
- increase revenue form EUR 80 mn in 2023 to EUR 183 mn-EUR 215 mn in 2028
- EBITDA excluding revaluation shall reach in 2028 in EUR 112- EUR 132mn
The growth shall be achieved through:
- Continuation of development and expansion of our portfolio, with a focus on Class A, green projects in core city-adjacent locations across Europe with tenants benefitting from a 1-2 D&B rating. The expansion of our property portfolio will be driven by developments and potential value add strategic acquisitions, aimed at capitalizing on high-demand areas.
- Focus on City logistics projects as economically resilient class assets and, at the same time, a high growth potential product. These projects involve the development of smaller, urban logistics units that are strategically located within or close to city boundaries, providing easy access to labor and public transport. City logistics projects are more resilient through economic cycles and offer higher profitability compared to traditional big-box warehouses. One of the primary drivers of our growth is the increase of the share of the City Logistics projects’ portfolio in our total business – our aim is, the value of City Logistic projects, to reach appr 30% of portfolio GAV by 2028.
- Continuous development of big-box projects primary addressing ecommerce development and light industry requirements.
- Accelerating development in Germany, where we are systematically increasing our portfolio of projects – strengthening and expanding our presence in the regions where we are already present i.e. Ruhr area, Brandenburg and Hessen land and adding projects in other core markets to our portfolio.
Our goal is for the value of German projects to reach appr 33% of portfolio GAV by 2028.
- Faster conversion cycle of existing land bank and newly acquired land bank into development and leasing.
- Continue to improve the operating performance of our existing properties through active asset management focused on maintaining the average Occupancy Rate at min 90% and a capture of rental increases on re-letting.
All these points are firmly anchored in the growing demand for industrial space caused by supply chain resiliency (increasing the storage area), strong reshoring trend in Europe.
MLPG will continue its current “build and hold” strategy while keeping LTV below 40%.
Disclaimer
This presentation has been prepared by the management board of MLP Group S.A. with its registered office in Pruszków, Poland (the “Company”, the “Issuer”) as publicly disclosed information concerning the company’s strategy, as adopted by the Company’s board and Supervisory Board.
This presentation does not constitute, in whole or in part, and should not be construed as an offer to sell, a solicitation or invitation to buy or subscribe for securities of the Company in any jurisdiction or a solicitation of investment business. No part of this presentation or the fact of its distribution shall form the basis of or be relied upon in connection with any contract, commitment or investment decision.
Market data and certain economic or sector data and statements in this presentation regarding the Company and its subsidiaries’ (the “Group”) position in the sector have been estimated and derived from assumptions the board of the Company believes to be reasonable and its own research, surveys or research conducted by third parties or from publicly available sources, sector or general publications.
The information contained in this presentation that have been sourced from third party publications or publicly available data published by public authorities, had not been independently verified. No representation or warranty, expressed or implied, is made or should be relied upon as to the reliability, accuracy, completeness or correctness of such information or opinions contained in this presentation. This presentation is not intended to be a substitute for independent judgment. Neither the Company nor any of its affiliates, advisors or representatives accepts any liability (whether in negligence or otherwise) for any loss which arises from the use of this presentation or its contents or which arise in connection with the presentation.
The Company’s shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and accordingly may not be offered or sold in the United States. Further distribution of this presentation and related information may be restricted by law in certain countries. Failure to comply with such restrictions may constitute a violation of the securities laws of such jurisdiction. This presentation does not constitute a recommendation regarding investment decision (regardless such decision content) referring to investment in any securities of the Company.
This presentation is intended to present the expectations of the board of the Company regarding the future development of the Group’s business and strategic business and financial objectives that the Group intends to achieve. Therefore, the presentation contains forward-looking statements. Such statements include words such as: “anticipates”, “believes”, “intends”, “estimates”, “expects” and words of similar meaning. All statements other than statements of historical fact contained in this presentation, including, but not limited to, statements regarding the Company’s financial condition, business strategy, plans and objectives of management regarding the Group’s future operations, are forward-looking statements. Forward-looking statements, cannot been qualified as “true” or “false” since such statement, do not refer to the actual facts but to the uncertain future development business of the Group as well as of the future business environment that will affect Group’s business and will verify or falsify the assumptions made by the board of the Company while defining the strategy of the Group. The future involves a number of known and unknown risks, uncertainties and other important factors that could affect the Group’s performance, level of activity and objectives, and cause them to differ materially from the expected future results expressed in the forward-looking statements. Forward-looking statements are based on a number of assumptions regarding the Group’s current and future strategies and the environment in which the Group will operate in the future. Forward-looking statements have been formulated in good faith and in accordance with assumptions current as of the date of this presentation. The Company undertakes no obligation to update or revise any forward[1]looking statements contained in this presentation should there be any change in the Company’s expectations regarding the future or should there be any change in events, conditions or other circumstances on which the forward-looking statements are based.
The Company cautions that forward-looking statements are not guarantees of future performance and that actual financial condition, business strategy, plans and management’s intentions with respect to the Group’s future operations may differ materially from those indicated or implied by the forward-looking statements contained in this presentation. Furthermore, even if the Company’s future financial condition, business strategy, plans and management’s intentions with respect to the Group’s future operations are consistent with the forward-looking statements in this presentation, the achievement of these results should not be relied upon as a guide to the results that will be achieved in future periods. Subject to obligations pursuant to the applicable reporting stands the Company undertakes no obligation to revise, confirm or release any updates to any forward-looking statements in the event of any changes which occur after the date of this presentation. MLP also assumes that Poland will remain in the European Union, that no economic sanctions will be imposed on Poland and Poland will remain part of the Schengen Area.
The strategic goals do not assume the escalation of global geopolitical conflicts such as the Russian invasion of Ukraine or geopolitical tensions in the Middle East. The assumed strategic goals were prepared on the basis of inflation forecasts consistent with the ECB’s inflation forecast.
The information and opinions contained in this presentation are prepared as for the date of this presentation and are subject to changes, which will not be communicated by the Company. Dividend distribution is not taken into account in this assumption. Any dividend distribution will require an increase in the issue amounts or a reduction in investments