Financial data
MLP Group posts over PLN 170m in net profit for 2020
MLP Group remains on a sound financial footing. Last year, it increased its net asset value (NAV) by 29%, to PLN 1.21bn. The value of its investment property also rose 29%, to PLN 2.33bn. In 2020, the Group generated PLN 170.4m in net profit, up 32% on the previous year, on consolidated revenue of PLN 190.7m, representing a year-on-year increase of 36%. However, factoring in rental income, i.e. MLP Group’s main revenue stream from its core business, the Group reported growth of 23.9% year on year.
In 2020, the aggregate area of MLP Group’s projects under construction and in the pipeline was in excess of 241 thousand m2. As at the end of 2020, the Group’s portfolio of finished projects comprised more than 715 thousand m2 of modern warehouse space. Including projects under construction and in the pipeline, the Group offered a total of nearly 860 thousand m2 of modern space. In addition, it held a land bank with a target development area of almost 1.29 million m2, and had in place a number of reservation agreements to purchase new land for planned logistics parks in Poland, (e.g. Stryków, Pruszków, Poznań), Germany (e.g. Gelsenkirchen, Cologne, Frankfurt am Main, Leipzig) and Austria.
Selected financial ratios (2020)
- Return on sales 89.3%
- Current ratio 3.01
- Debt ratio 54.8%
- Return on assets (ROA) 6.4%
- Return on equity (ROE) 14.1%
| MLP Group basic financial data (in million PLN) | |||||
| in million PLN | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Revenues | 101,0 | 103,8 | 141,5 | 140,0 | 190,7 |
| Gain on revaluation of investment property | 58,3 | 8,6 | 88,7 | 120,8 | 213,3 |
| Selling and administrative expenses | (54,7) | (56) | (78,9) | (77,7) | (108,1) |
| Operating profit | 102,4 | 55,2 | 151,1 | 180,0 | 297,8 |
| Net profit | 66,4 | 47,3 | 92,4 | 129,4 | 170,4 |
| Total assets | 1178,0 | 1358,4 | 1663 | 2074 | 2683 |
| Total long term liabilities | 435,1 | 569,2 | 762,4 | 971,1 | 1374,7 |
| Total short term liabilities | 67,1 | 62,5 | 85,6 | 164,4 | 96,4 |
| Total equity | 675,7 | 726,7 | 815,4 | 938,6 | 1211,7 |
| Share capital | 4,5 | 4,5 | 4,5 | 4,5 | 4,9 |
| Total shares (pcs.) | 18113255 | 18113255 | 18113255 | 18113255 | 19720255 |
| Dividends (PLN/share) | 2,3 | 0 | 0 | 0,22 | |