MLP Group reports revenue and profit growth through Q3 2024

MLP Group, a European logistics and industrial real estate platform, has reported strong financial results for the first three quarters of 2024, driven by rising demand for warehouse spaces and strategic investments across its key markets.

The group’s consolidated revenues increased by 4% year-on-year to PLN 278.3 million (€64.7 million), with rental income growing 8% to PLN 161.3 million (€37.5 million). The value of its investment properties rose 15% to PLN 5.23 billion (€1.22 billion), while net asset value (NAV) increased by 10% to PLN 2.64 billion (€617 million). NAV per share stood at PLN 110 (€25.7), reflecting a 10% year-on-year growth.

EBITDA, excluding valuation adjustments, rose 4% to PLN 141.4 million (€32.9 million). However, funds from operations (FFO) declined by 26% to PLN 54.0 million (€12.6 million), partly due to increased development activity. Net profit for the period reached PLN 265.1 million (€61.6 million).

Strategic Growth and Investments

MLP Group continues to expand its footprint across Poland, Germany, Austria, and Romania. The company currently operates 23 logistics parks, with 1.2 million m² of completed warehouse space and an additional 260,000 m² under construction or in planning. The development potential of its land portfolio exceeds 1.9 million m².

In October 2024, MLP Group successfully issued bonds worth €300 million, listed on the Luxembourg Stock Exchange and traded on the Euro MTF market. Proceeds from the issuance are earmarked for further expansion, with a focus on Germany, where approximately 60% of the funds will be allocated.

“We see positive market conditions across all regions. Our recent bond issuance will support growth, particularly in Germany, where we’re launching projects in Düsseldorf, Schalke, Frankfurt, and Spreenhagen near Berlin,” said Radosław T. Krochta, CEO of MLP Group S.A. “Poland remains a key market for us as well. We plan to acquire land in Rzeszów near the Ukrainian border to develop a logistics center targeting cross-border investments. Additionally, we aim to expand in Austria, Romania, and eventually Amsterdam.”

Focus on Long-Term Value

Aligned with its “build & hold” strategy, MLP Group retains ownership and management of its logistics parks post-construction, emphasizing long-term value creation. Key features of its projects include prime locations, built-to-suit solutions, and ongoing tenant support throughout lease terms.

As MLP Group positions itself for continued growth, it remains committed to urban logistics and large-scale “Big Box” facilities, ensuring a diverse and robust portfolio to meet the evolving needs of its clients.