Total space leased by the MLP Group approaches half a million square meters
The MLP Group, a developer of modern warehousing facilities, generated PLN 72.2 million in revenues in the first 3 quarters of 2017. Compared to the same period of the previous year, this is a 7.7% increase. Between January and September 2017, the Group posted PLN 49.5 million in operating profit, which is 18.3% more than the year earlier. At the bottom line level, the MLP Group generated PLN 36.6 million in net profit, a whopping 61.4% more than in the same period of 2016. As at the end of September 2017, the developer of warehousing space had equity (net assets) totaling PLN 715.6 million, up 5.9% compared to the end of last year.
“We are very happy with the results generated in the first 3 quarters of this year. We are rapidly increasing our portfolio of leased space on the Polish market and at the same time expanding into the German market. We have a number of projects in the pipeline on both these key markets, that is Poland and Germany, but we are also entering the Romanian market with our offering of warehousing
facilities. 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.
During the first 3 quarters of this year, the value of the Group’s investment real properties surged 17.4% to PLN 1.14 billion (EUR 262.5 million). The largest impact on this improved performance was exerted by the acquisition of the MLP Unna park on the German market, the delivery of over 67,000 square meters of space to tenants and new investments in the MLP Pruszków II and MLP Gliwice parks.
As at the end of September 2017, the total space leased by the MLP Group was 495,100 square meters, or 48.4% more than the year earlier and 33% more than at the outset of this year. This rapid growth was a result of the execution, in the first 3 quarters of this year, of lease agreements covering a total of 84,300 square meters of space and the acquisition of 48,100 square meters of real estate on the German market. In the same period, tenants vacated 8,500 square meters of previously leased space. The Group’s vacancy rate at the end of September was very low at less than 2%.
Currently, the Group operates eight logistics parks in Poland: MLP Pruszków I, MLP Pruszków II, MLP Poznań, MLP Lublin, MLP Teresin, MLP Wrocław, MLP Czeladź and MLP Gliwice. Based on a development agreement, the Group is also responsible for the commercialization of the MLP Bieruń logistics park, sold in 2015. In addition, the Group owns land plots and has signed reservation agreements to purchase new plots for its planned logistics parks. This means that the current and potential real estate portfolio managed by the MLP Group consists of a total of sixteen operating logistics parks located in Europe.
