MLP Group has a very good financial standing and a safe capital structure enabling the implementation of long-term strategic goals. This is confirmed by its reported 2022 performance figures. The Group’s Net Assets Value (NAV) went up 37%, to just under PLN 2.5 billion (EUR 532.6 million). The value of its investment properties rose 31%, to more than PLN 4.4 billion (EUR 945 million). Consolidated revenue improved 39% yoy, to PLN 279.1 million (EUR 59.5 million), driven by an increase in leased area combined with higher rental rates. Rental income from investment properties increased by 31%, to PLN 152.9 million. At the same time, the Group’s EBITDA (without revaluation of investment properties) improved by 47%, to PLN 135.1 million (EUR 28.8 million). Last year, MLP Group earned PLN 422.4 million (EUR 90.1 million) in net profit.
MLP Group is developing its operations in Poland, Germany, Austria and Romania. The Group’s existing portfolio comprises 21 logistics parks. Its strategic goal remains to expand the warehouse portfolio by developing big-box facilities and urban logistics projects.
In 2022, MLP Group signed leases for 235 thousand sqm of space. New completions with a total area of 226 thousand sqm were located mainly in Poland and Germany. At the end of last year, the Group had a total of 1 million sqm of built space, with a further 119 thousand sqm under development or in the pipeline. Development potential of the Group’s existing landbank is close to 1.8 million sqm. In addition, the Group has reservation agreements to purchase new plots with an area of some 200 hectares, allowing it to develop another 1 million or so sqm of new space.
The Group intends to continue its strong development in Germany. It plans to strengthen and expand its presence in new key locations, but also in the regions it already present, i.e. the Ruhr area, Brandenburg and Hessen land. It also expects to strengthen its foothold on the Austrian market and is looking to enter the Benelux countries soon. The Polish market remains crucial and MLP Group will continuously increase offer in key logistics regions. According to the strategy, capital expenditure (CAPEX) in 2023 will amount to about EUR 215 million, of which about 30% will be allocated to purchase of new plots. This year the level of commercialisation is planned to go up by about 20%.
Selected financial ratios (2022)
Return on sales
Return on assets (ROA)
Return on equity (ROE)
|MLP Group basic financial data (in million PLN)|
|in million PLN||2022||2021||2020||2019||2018||2017|
|Gain on revaluation of investment property||455.1||540.3||213.3||120.8||88.7||8.6|
|Selling and administrative expenses||(135.66)||(108.3)||(108.1)||(77.7)||(78.9)||(56.0)|
|Total long term liabilities||2219.9||1722.4||1374.7||971.1||762.4||569.2|
|Total short term liabilities||272.2||238.7||96.4||164.4||85.6||62.5|
|Total shares (pcs.)||23,994,982||21,373,639||19,720,255||18,113,255||18,113,255||18,113,255|
Financial data to download