Financial data
MLP Group reports strong performance improvement in the first half of 2021
The Group’s financial position remains very strong. In the first half of 2021, its net asset value (NAV) rose by 24%, to PLN 1.5bn, while the value of its investment property increased by 16%, to PLN 2.7bn. In the six months to June 30th 2021, the Group posted consolidated revenue of PLN 97.6m, an improvement of 16% year on year. The Group earned PLN 205.5m in operating profit and PLN 166.5m in net profit (three months ended June 30th 2020: PLN 194.7m and PLN 121.1m, respectively).
In the first half of 2021, the Group implemented projects with a total area of nearly 200,000 sqm, of which properties with a total area of approximately 50,000 sqm were completed during the period, mainly in the following parks: MLP Pruszków II, MLP Poznań and MLP Business Park Berlin I. Overall, at the end of June 2021 finished leasable area offered by MLP Group totalled 736,300 sqm. At the same time, 142,000 sqm were in the construction and development phases. The target surface area of the Group’s logistics parks is 1.38m sqm. In addition, MLP Group has an extensive land bank, with a total surface area of 109.4 ha across all of the Group’s markets. The Group has also signed a number of reservation agreements to purchase new land for planned logistics parks in Poland, Germany and Austria.
Selected financial ratios (2021)
- Return on sales 170.7%
- Current ratio 1.89
- Debt ratio 51.9%
- Return on assets (ROA) 5.3%
- Return on equity (ROE) 11.1%
| MLP Group basic financial data (in million PLN) | ||||||
| in million PLN | 2017 | 2018 | 2019 | 2020 | H1 2020 | H1 2021 |
|---|---|---|---|---|---|---|
| Revenues | 103.8 | 141.5 | 140.0 | 190.7 | 84.2 | 97.6 |
| Gain on revaluation of investment property | 8.6 | 88.7 | 120.8 | 213.3 | 151.7 | 160.2 |
| Selling and administrative expenses | (56.0) | (78.9) | (77.7) | (108.1) | (41.0) | (51.6) |
| Operating profit | 55.2 | 151.1 | 180.0 | 297.8 | 194.7 | 205.5 |
| Net profit | 47.3 | 92.4 | 129.4 | 170.4 | 121.0 | 166.5 |
| Total assets | 1358.4 | 1663.0 | 2074.0 | 2683.0 | 2369.3 | 3124.5 |
| Total long term liabilities | 569.2 | 762.4 | 971.1 | 1374.7 | 1219.1 | 1426.0 |
| Total short term liabilities | 62.5 | 85.6 | 164.4 | 96.4 | 98.2 | 196.4 |
| Total equity | 726.7 | 815.4 | 938.6 | 1211.7 | 1052.1 | 1502.1 |
| Share capital | 4.5 | 4.5 | 4.5 | 4.9 | 4.5 | 5.3 |
| Total shares (pcs.) | 18,113,255 | 18,113,255 | 18,113,255 | 19,720,255 | 19,720,255 | 21,373,639 |
| Dividends (PLN/share) | 0 | 0 | 0,22 | |||