MLP Group delivers record results with further growth potential. Rental income up 34% and EBITDA up 22%
- Revenue for 9M 2026: PLN 390.3 million (+27% YoY), EUR 91.2 million (+26% YoY)
- including rental income, which increased by 34% to PLN 231.3 million (EUR 54.0 million, +32% YoY)
- EBITDA (before revaluation)* for 9M 2026: PLN 195.0 million (+22% YoY), EUR 45.6 million (+21% YoY)
- Gross Asset Value (GAV): PLN 7,668.7 million (+16% vs. 31 December 2025), EUR 1,756.0 million (+12% vs. 31 December 2025)
- Net Asset Value (NAV): PLN 3,377.5 million (+6% vs. 31 December 2025), EUR 773.4 million (+2% vs. 31 December 2025)
- NAV per share: PLN 140.8 (+6% vs. 31 December 2025), EUR 32.2 (+2% vs. 31 December 2025)
- Net profit for 9M 2026: PLN 165.2 million (+84% YoY), EUR 38.6 million (+82% YoY)
- Leasing activity:
- 170,425 sqm of leases signed since the beginning of the year
- new contracted annualized rent since the beginning of the year amounted to EUR 10.6 million
MLP Group continues to scale up its operations in the European logistics and industrial real estate market. During the first nine months of 2026, the Group signed lease agreements covering 170,425 sqm of space. The annualized rent contracted under these agreements amounted to EUR 10.6 million, strengthening the Group’s future income potential. At the same time, the value of its property portfolio increased by 16% compared with year-end 2025 to PLN 7.67 billion.
Our record results confirm the effectiveness of our strategy and the strength of MLP Group’s business model. Rental income increased by 34% and EBITDA rose by 22%, while the outlook for our key markets remains very positive. In Germany, demand for logistics and industrial space increased by 28% year on year over the first three quarters, while in Poland it grew by approximately 20%. Nearshoring, increasing activity by Asian companies in Europe and the need to strengthen supply chain resilience are creating additional growth opportunities. We are very optimistic about the final months of the year. We expect very strong leasing activity in the fourth quarter, which could prove to be a record quarter in terms of the value of space contracted, – said Radosław T. Krochta, President & CEO of MLP Group S.A
The positive outlook is supported by further major leasing transactions. In the fourth quarter, MLP Group announced the signing of an agreement with its long-standing tenant Auto Partner for approximately 42,500 sqm of space at MLP Bieruń West. The agreement will significantly increase the full-year volume of leased space and strengthen future rental income potential.
The stability of the portfolio remains a solid foundation for further growth. At the end of September 2026, the weighted average unexpired lease term (WAULT) was approximately 7.4 years. The rent collection rate, defined as the proportion of rental income paid or no more than 60 days overdue, stood at 99% for the nine months ended 30 September 2026, with no deterioration in payment performance. The Group’s approach to tenant relationships supports long-term cooperation, in some cases extending beyond 20 years, while the tenant retention rate remains close to 99%.
MLP Group also continues to expand its portfolio, focusing on attractive locations in major European metropolitan areas and the promising urban logistics segment. At the end of September, 141,000 sqm of space was under construction. Once fully leased, these projects have the potential to generate approximately EUR 8.3 million in annual rental income, with an expected minimum yield on cost** of 12.4%.
* EBITDA (before revaluation) – EBITDA excluding the result from changes in the fair value of investment properties. This is an alternative performance measure (APM) and is not defined under IFRS.
** Yield on cost – the ratio of expected annualized rental income (once fully leased) to project construction costs. Construction costs exclude the land acquisition price.
