MLP Group reports strong 2024 performance and plans for further growth in 2025

MLP Group has reported strong financial and leasing results for 2024, with steady revenue growth and a significant increase in leased industrial space. The company achieved a total revenue of PLN 372.4 million (EUR 86.5 million), marking a 3% year-on-year increase in PLN and 9% in EUR. Rental income grew by 7%, reaching PLN 214.8 million. The total value of investment properties increased by 22%, reaching PLN 5.52 billion (EUR 1.29 billion), reflecting the company’s ongoing expansion in key European logistics markets.

Net profit saw a significant recovery, rising to PLN 372.2 million (EUR 86.5 million), a major improvement from the PLN -52.1 million loss recorded in 2023. This growth was driven by strong leasing activity, particularly in the last quarter of the year, and stable portfolio yields.

Throughout 2024, MLP Group signed lease contracts for 307,194 sqm of industrial space, including 225,221 sqm under new contracts, representing a 106% year-on-year increase. The occupancy rate across the portfolio remained at 95%, and rental rates saw a 10% like-for-like increase. By the end of the year, the company had 25 logistics parks across Poland, Germany, Austria, and Romania, with a focus on expanding its portfolio of Big-Box and Urban logistics projects.

In the second half of the year, leasing demand accelerated, with a 73% increase in rental levels between Q3 and Q4. New leases accounted for 80% of total signed contracts, while 20% came from existing tenants. The company also expanded its tenant base by acquiring 22 new clients.

MLP Group ended the year with 235,900 sqm of projects under construction, of which 142,500 sqm are in Poland, 54,500 sqm in Austria, and 38,900 sqm in Germany. Around 40% of these projects have been pre-leased, and once fully occupied, they are expected to generate EUR 17.0 million in additional rental income, with a projected minimum yield on cost of 11.5%.

Land holdings also expanded, with the company’s landbank increasing to 257 hectares, of which 115 hectares are fully owned and on the balance sheet. This land is located in key urban areas near existing business parks, providing opportunities for future development.

For 2025, MLP Group plans to deliver 250,000–300,000 sqm of new logistics space. Poland remains its primary market, with further expansion planned in Warsaw and Rzeszów. The newly acquired site in Rzeszów is expected to attract businesses linked to post-war reconstruction efforts in Ukraine and international trade. Business growth is also planned in Romania, Germany, and Austria, where the company seeks to reinforce its market position.

Market conditions in the European logistics sector remain favorable, with a low level of new projects under construction leading to lower vacancy rates and rising rental prices. The increasing inflow of Asian investments into Europe is further driving demand for industrial and warehouse spaces. MLP Group expects these factors to contribute to continued revenue and EBITDA growth in 2025.