As at the end of December 2017, MLP Group, developer of modern warehousing space, had assets at PLN 1.36 billion, and net assets (equity) at PLN 726.7 million, up 7.5% from last year. In 2017, the Group earned net profit of PLN 47.3 million, with revenues at PLN 100.3 million.
During last year, the value of the Group’s investment real properties surged 20% to PLN 1.16 billion (EUR 277.3 million). The largest impact on this improved performance was exerted by the acquisition of the MLP Unna park on the German market, purchase of real estate in Romania with the area of 18.8 hectares, completion of projects and delivery of 85,000 square meters of new space to tenants, and launch of a new investment project in the MLP Gliwice park. The growth rate would be even higher if it were not for the appreciation of the Polish currency by 5.7%, which affected the value of the investment properties converted from EUR to PLN.
Last year MLP Group increased the space delivered to tenants by 141,500 square meters to 432,400 square meters. The Group’s vacancy rate was very low at less than 2%. At the same time, as at the end of last year, the Group had tenancy agreements signed for the total space of 501,600 square meters, i.e. 35% more than as at the end of 2016. 72,400 square meters of space was under construction and preparation. At the same time, MLP Group had a land bank allowing for construction of further 970,000 square meters.
“We are very happy with the results generated last year. This year we will continue to focus on increasing the warehouse space in the Polish market and foreign expansion. In Poland, we plan to acquire two new plots of land to develop new logistics park and develop the existing parks. Outside Poland, our priority will be the German market where we intend to develop our Unna park and plan to acquire at least 2-3 new projects: in Mönchengladbach in the Ruhr Area and in the south of the country. We also plan to expand our operations in Romania through launching the construction of new warehouse facilities in our park in Bucharest. This will ensure continuation of the steady increase in the operating scale and value of our Group,” emphasized Radosław T. Krochta, President of MLP Group S.A.
