MLP Group accelerates European growth. Revenue up 20% and EBITDA up 10% in Q1 2026

• Revenue: PLN 130.6 million (+20% YoY), EUR 30.8 million (+18% YoY),
• EBITDA (before revaluation): PLN 59.5 million (+10% YoY), EUR 14.0 million (+9% YoY),
• Gross Asset Value (GAV): PLN 6,856.7 million (+4% vs. 31 December 2025), EUR 1,598.5 million (+2% vs. 31 December 2025),
• Net Asset Value (NAV): PLN 3,233.4 million (+1% vs. 31 December 2025), EUR 753.8 million (0% vs. 31 December 2025),
• NAV per share: PLN 134.8 (+1% vs. 31 December 2025), EUR 31.4 (0% vs. 31 December 2025)
• Net profit: PLN 32.5 million (vs. PLN -42.7 million in Q1 2025), EUR 7.7 million (vs. EUR -10.2 million in Q1 2025).
• Leasing activity:
  • 65.8 thousand sqm leased since the beginning of the year (+189% YoY vs. 22.8 thousand sqm in Q1 2025),
  • New annualized contracted rent of EUR 4.6 million (+245 % YoY vs. EUR 1.3 million in Q1 2025).

The European industrial and logistics sector entered 2026 with clear signs of recovery, supported by improving investment sentiment and stabilizing financing conditions. Strong demand for modern logistics space continues to focus primarily on major urban agglomerations and metropolitan regions, fully aligned with MLP Group’s strategy of developing projects in key urban locations across its core markets.

Since the beginning of the year, MLP Group signed lease agreements covering approximately 65.8 thousand sqm of space (+189% YoY), of which 58.5 thousand sqm was leased to new tenants. The new contracts will generate EUR 4.6 million in annualized rental income, compared to EUR 1.3 million in the previous year, representing an increase of 245 % YoY.

In the first quarter of 2026, MLP Group generated consolidated revenue of PLN 130.6 million, up 20% year-on-year. At the same time, the Group delivered EBITDA (before revaluation) of PLN 59.5 million, improving the result from the corresponding period of the previous year by 10%.

– We continue to consistently execute our strategy focused on the development of modern logistics parks in the largest urban agglomerations and metropolitan regions across Europe. Concentrating on key locations characterized by strong demand and limited land availability strengthens our competitive position and supports the further scaling of our operations. The record leasing performance, together with the dynamic growth in revenue by 20% and EBITDA by 10%, and most importantly the record level of contracted rent in Q1 2026 (EUR 4.6 million, up 245 % YoY), will translate into an even greater scale of our operations in the coming periods,- said Radosław T. Krochta, President & CEO of MLP Group S.A.

At the end of March 2026, the fair value of investment properties amounted to PLN 6,856.7 million, representing a 4% increase compared to 31 December 2025. Net Asset Value (NAV) increased by 1% in the first quarter of 2026 to PLN 3,233.4 million. Currently, approximately 217 thousand sqm of space is under construction, representing potential rental income of EUR 14.2 million.

MLP Group maintains a prudent financial approach, ensuring a strong liquidity position that supports the financing of growth objectives while maintaining a fixed cost of debt and a conservative repayment profile.

At the same time, the Group continues to maintain a very high-quality portfolio and strong operational stability. As much as 98% of rents were paid on time, while tenants’ payment profiles remain stable.

Warehouses are increasingly perceived as part of the critical infrastructure of the modern economy, supporting supply chain resilience, operational stability and long-term economic growth.

MLP Group operates one of the most modern warehouse and industrial property portfolios in Europe => 85 % of buildings were developed within the last 10 years, and more than 60% within the last 5 years.

– We continue to focus consistently on the development of projects located in the largest urban agglomerations across Europe. Our strategy is increasingly based on modern, highly diversified logistics parks offering medium and small units tailored to the growing needs of urban logistics and customers operating close to the end consumer. We are gradually moving away from traditional big-box projects in favour of more flexible urban formats. Later this year, we will launch a multi-storey project in Munich and another investment in Vienna. A particularly important development will be MLP City Park Vienna, a new urban concept offering units ranging from 200 to 800 sqm, located just 1,500 metres from Vienna’s main railway station. Ultimately, we intend to expand this format across Europe’s largest cities – added Radosław T. Krochta.