Financial data

Value of MLP Group’s investment property portfolio reached PLN 4.2 billion

The Group’s financial condition remains strong, as demonstrated by its reported 1H2022 performance figures. In the first six months of the year, the Group’s net asset value (NAV) went up 26%, to PLN 2.3 billion. The value of its investment properties rose 25%, to more than PLN 4.2 billion. Consolidated revenue increased 26% yoy, to PLN 123.2 million. Net rental income, on the other hand, rose 22% yoy, to PLN 90.4 million. Operating profit rose 181%, to PLN 577.2 million. For the first half of this year, MLP Group posted PLN 433.9 million in net profit, an over 2.5-fold improvement (+161%) relative to the same period last year.

MLP Group operates on the Polish, German, Austrian and Romanian markets. It has a portfolio of properties with about 1.2 million sqm of existing, under construction and permitted ready to build rental space. The Group currently operates 22 logistics parks in Poland and abroad. In addition, in 2022 it concluded several reservation agreements for new plots to develop further logistics parks in Poland and Europe. Based on the current land banks and reserved plots (totalling approx. 200 ha), it secured development potential for another 1 million sqm of warehouse space.

The strategic goal is to continually expand the warehouse portfolio by developing BigBox buildings and City Logistics projects. MLP Group intends to continue to develop rapidly, above all in Germany, where it is steadily increasing the portfolio of projects predominantly in the Ruhr area, Hessen region and Brandenburg. It also plans to strengthen its foothold on the Austrian market. Additionally, it is analysing entrance into new countries i.e. Benelux and Hungary. The Polish market remains very important to the Group, where it will consistently expand its offering in key logistics regions. In 2022, capital expenditure (CAPEX) will amount to approx. EUR 150-200 million, of which some 30% will be allocated to purchase of new plots.

 

Selected financial ratios (1H 2022)

  • Return on sales 352.1%
  • Current ratio 0.95
  • Equity ratio 50.3%
  • Return on assets (ROA) 9.5%
  • Return on equity (ROE) 18.9%

 

 

MLP Group basic financial data (in million PLN)
in million PLN 1H 2022 1H 2021 2021 2020 2019 2018 2017
Revenues 123.2 97.6 200.6 190.7 140.0 141.5 103.8
Gain on revaluation of investment property 517.8 160.2 540.3 213.3 120.8 88.7 8.6
Selling and administrative expenses (63.6) (51.6) (108.3) (108.1) (77.7) (78.9) (56.0)
Operating profit 577.2 205.5 632.3 297.8 180.0 151.1 55.2
Net profit 433.9 166.5 480.5 170.4 129.4 92.4 47.3
Total assets 4571.9 3124.5 3786 2683.0 2074.0 1663.0 1358.4
Total long term liabilities 2037.7 1426.0 1722.4 1374.7 971.1 762.4 569.2
Total short term liabilities 236.0 196.4 238.7 96.4 164.4 85.6 62.5
Total equity 2298.2 1502.1 1824.5 1211.7 938.6 815.4 726.7
Share capital 5.3 5.3 5.3 4.9 4.5 4.5 4.5
Total shares (pcs.) 21,373,639 21,373,639 21,373,639 19,720,255 18,113,255 18,113,255 18,113,255
Dividends (PLN/share)  0  0  0  0 0,22 0 0

Financial data XLS (download)