The MLP Group increased revenues by 43%15/11/2018
In the first three quarters of 2018, the MLP Group, a modern industrial property developer, generated PLN 103.2 million in revenues, or 43% more than in comparison with the corresponding period of last year. The Group earned operating profit of PLN 62.5 million, one quarter more than last year (PLN 49.5 million). The MLP Group generated a net profit of PLN 28.9 million, signifying a decrease of 21% versus the same period last year. At the end of September 2018, the industrial space developer had equity (net assets) of PLN 752.5 million, or 3.6% more than presented at the end of the previous year. During the first three quarters of this year, the value of the Group’s investment properties climbed 14.6% to PLN 1.33 billion (EUR 303 million).
“Our results are very good and they confirm the systematic growth of our scale of operations. The increase in the value of investment properties is attributable mainly to the expenditures incurred for construction of new parks and constant development of our business” – emphasized Radosław T. Krochta, President of the Management Board of MLP Group S.A.
At the end of September 2018, the total leased space was 496.5 thousand square meters, which was 9.5% (43 thousand square meters) more than the total leased space in the logistics parks in Poland at the end of the previous year. In the German market, in the MLP Unna park, parking places have already been leased and negotiations are under way with potential tenants of the warehouse space.
“Expansion in the German market remains our key objective in the next periods. We still have a huge growth potential in the domestic market, where we systematically expand our logistics parks using our existing land bank. At the same time, we have a new offering for tenants – development of City Logistic facilities, which is largely associated with the global development of e-commerce. The actions we take are bound to have a positive impact on the group’s value” – added Radosław T. Krochta.
In Poland, the Group operates seven logistics parks: MLP Pruszków I, MLP Pruszków II, MLP Poznań, MLP Lublin, MLP Teresin, MLP Wrocław, MLP Gliwice, and two logistics park under construction – MLP Czeladź and MLP Poznań West. Under a developer agreement, the Group is also responsible for the commercialization of the MLP Bieruń logistics park, which was sold in 2015. In Germany, the Group currently operates one logistics park – MLP Unna. In Romania, in turn, the Group purchased land for development of a new logistics park – MLP Bucharest West. In addition, the Group has plots of land and reservation agreements for the purchase of new land for planned logistics parks. As a result the current and potential portfolio of real properties managed by MLP Group includes in total sixteen logistics parks located in three European markets.