MLP Group reports growth in revenue and net profit for the first three quarters of 2024
- Revenue: PLN 278.3 million (+4% y/y), EUR 64.7 million (+10% y/y)
- Rental income: PLN 161.3 million (+8% y/y), EUR 37.5 million (+15% y/y)
- Investment property value: increase to PLN 5,225.8 million (+15% vs. 31 December 2023), EUR 1,221.2 million (+17% vs. 31 December 2023)
- Net Asset Value (NAV): PLN 2,640.1 million (+10% vs. 31 December 2023), EUR 617.0 million (+12% vs. 31 December 2023)
- NAV per share: PLN 110 (+10% vs. 31 December 2023), EUR 25.7 (+12% vs. 31 December 2023)
- EBITDA (excluding revaluation): PLN 141.4 million (+4% y/y), EUR 32.9 million (+11% y/y)
- Funds from Operations (FFO): PLN 54.0 million (-26% y/y), EUR 12.6 million (-21% y/y)
- Net profit: PLN 265.1 million, EUR 61.6 million
For the nine months ended 30 September 2024, MLP Group’s consolidated revenue increased by 4% year-on-year to PLN 278.3 million. Rental income from investment properties rose by 8% to PLN 161.3 million, while the value of the Group’s investment properties grew by 15% to exceed PLN 5.2 billion. Net Asset Value (NAV) advanced by 10% year-to-date, to over PLN 2.64 billion.
In early October, MLP Group issued notes with a total principal amount EUR 300 million. These notes have been listed on the Official List of the Luxembourg Stock Exchange and admitted to the Euro MTF alternative trading system operated by the Exchange.
“We are confident in the positive market outlook across all regions where we operate. The capital raised through our recent note issuance will serve as a catalyst for further growth, with approximately 60% strategically allocated to investments in Germany. Among these is a newly acquired plot near Dortmund, designated for a data center project—one of the significant growth areas in our portfolio. Simultaneously, we are advancing key developments in Schalke, Frankfurt, and Spreenhagen near Berlin.
Our dedication to the Polish market is equally unwavering. In the near term, we plan to secure a prime site in Rzeszów, a strategic location near the Ukrainian border, where we will establish a logistics center designed to attract investments supporting our eastern neighbours. Additional land acquisitions across Poland are already in the pipeline. Looking ahead, we intend to deepen our presence in Austria and Romania while also expanding into Amsterdam in a near future, further solidifying our footprint in Europe. However, Poland and Germany will remain the backbone of our operations, comprising approximately 80–90% of the portfolio,” said Radosław T. Krochta, CEO and President of the Management Board of MLP Group S.A.
MLP Group continues its dynamic expansion across Poland, Germany, Austria, and Romania. The Group currently operates 23 logistics parks, with strategic emphasis on urban logistics projects and Big Box facilities. As of the end of the third quarter 2024, the Group managed nearly 1.2 million sqm of completed space, with an additional 260,000 sqm under construction or in planning. The total development potential of its existing landbank stands at 1.9 million sqm.
In keeping with its build & hold strategy, MLP Group retains completed logistics parks in its portfolio and manages them. All projects undertaken by MLP Group are distinguished by highly attractive logistics park locations, built-to-suit solutions, and ongoing tenant support throughout the lease term.
