Financial data

MLP Group posts over PLN 480 mn (EUR 105 mn) in net profit

MLP Group financial standing remains very strong, as confirmed by the posted results for 2021. Last year, MLP Group’s net asset value (NAV) went up 51%, to PLN 1.82 billion (EUR 396.7 million). The value of its investment property rose 46%, to around PLN 3.4 billion (EUR 752 million). Consolidated rental income (i.e. revenue from the Group’s core business) was PLN 196 million (EUR 42.8 million), representing a nearly 15% increase year on year. At PLN 632.3 million (EUR 138.1 million), operating profit surged 112% year on year, with a nearly threefold increase in net profit, to PLN 480.5 million (EUR 105.0 million).

In 2021, MLP Group was developing projects for a total of over 310 thousand sqm, with a further 210 thousand sqm under construction or in the pipeline. Last year, nearly 310 thousand sqm of warehouse space was leased, which is about 50% more than in the previous year. Additionally, in the first months of 2022, strong tenants’ activity is noticed across all markets. At the end of December 2021, the leasable warehouse space offered by MLP Group was close to 1 million sqm, with the vacancy rate remaining very low, at under 3%. In addition, in 2021 MLP Group concluded several reservation agreements for new plots for further logistics parks in Poland and Western Europe. Based on the current land bank and reserved plots, MLP Group secured development potential for another 1 million sqm, with the area of the secured land of approximately 150 ha.

 

Selected financial ratios (2021)

  • Return on sales 239.5%
  • Current ratio 1.38
  • Debt ratio 51.8%
  • Return on assets (ROA) 12.7%
  • Return on equity (ROE) 26.3%

 

 

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

Financial data XLS (download)