MLP Group scales up operations in H1 2026. Rental income up 34% and further expansion in Europe

• Revenue: PLN 255.0 million (+23% YoY), EUR 60.0 million (+22% YoY),

• including rental income, which increased by 34% to PLN 149.3 million
  (EUR 35.1 million),

• EBITDA (before revaluation): PLN 126.0 million (+19% YoY), EUR 29.6 million (+18% YoY),
• Gross Asset Value (GAV): PLN 7,363.5 million (+11% YoY), EUR 1,713.9 million (+10% YoY),
• Net Asset Value (NAV): PLN 3,357.4 million (+5% YoY), EUR 781.5 million (+3% YoY),
• NAV per share: PLN 139.9 (+5% YoY), EUR 32.6 (+3% YoY),
• Net profit: PLN 156.4 million (+98% YoY), EUR 36.8 million (+96% YoY),
• Leasing activity:
  • 97,700 sqm of leases signed since the beginning of the year
  • new contracted annualized rent since the beginning of the year amounted to EUR 6.6 million.
  • The vacancy rate remained below 5%.

In the first six months of 2026, MLP Group signed lease agreements covering approximately 97,700 sqm of space, of which 87,900 sqm related to new leases. The new agreements will translate into EUR 6.6 million in annualized rent. At the same time, in the first half of the year, MLP Group delivered 219,600 sqm of new space, increasing the portfolio’s total gross leasable area (GLA) to 1.7 million sqm.

At the end of June, a further 186,000 sqm of space was under construction across four countries. Once fully leased, the projects under development have the potential to generate approximately EUR 11.9 million in annual rental income, with an expected minimum yield on cost of 12.4%.

MLP Group’s portfolio remains stable, providing a high degree of revenue visibility. At the end of June, the occupancy rate stood at 95%, while the weighted average unexpired lease term (WAULT) was approximately 7.3 years, and nearly 99% of rents were paid on time. The tenant retention rate also stood at nearly 99%. The Group works with approximately 225 tenants representing sectors including manufacturing, advanced technologies, automotive, e-commerce, retail and logistics.

MLP Group’s strategy focuses on the development of modern industrial and logistics projects in major European metropolitan areas. Proximity to customers and infrastructure, as well as increasingly access to a skilled workforce, are becoming key criteria in location decisions made by companies in the manufacturing, technology and logistics sectors.

– In 2026, we are significantly scaling up MLP Group’s operations. Rental income increased by 34%, while EBITDA rose by 19% to PLN 126 million. The second half of the year looks equally promising. Our strategy focused on development in key locations across Europe is delivering very strong results. Poland remains our key market and the main growth engine, while at the same time we are accelerating our expansion in Western Europe, – said Radosław T. Krochta, President & CEO of MLP Group S.A.

In Poland, MLP Group is pursuing an active investment pipeline. In 2026, the Group commenced the development of a number of projects, including MLP Bieruń, MLP Rzeszów, MLP Gorzów, MLP Poznań, the second phase of MLP Business Park Poznań, and a further phase of MLP Pruszków II.

At the same time, MLP Group is significantly accelerating its expansion in Germany. The Group is commencing the development of its first project in the Frankfurt metropolitan area, comprising approximately 23,000 sqm, and is proceeding with the second phase of MLP Business Park Schalke, covering approximately 32,000 sqm. The first phase of the project, offering approximately 36,000 sqm, is already 100% leased, confirming strong demand in this location. Hamburg is another key expansion market, where MLP Group is commencing the development of MLP Hamburg East, comprising approximately 35,000 sqm.

MLP Group is also at an advanced stage of preparing its third development in North Rhine-Westphalia – MLP Business Park Castrop-Rauxel, comprising approximately 73,000 sqm. It will be the Group’s first project designed to also accommodate tenants from the data center sector. Construction is scheduled to commence in 2027.

– 2026 is a period of very intensive growth for MLP Group. Over the next two quarters, we plan to deliver approximately 200,000 sqm of new leasable space, which will significantly increase the scale of our income-generating portfolio. At the same time, we expect continued high single-digit growth in both rental rates and estimated rental value (ERV), supported by strong occupier demand and the limited availability of modern logistics and light industrial space, – added Radosław T. Krochta.