In the first half of this year, consolidated MLP revenues improved year-on-year by 1% and amounted to PLN 187.7 million. Rent from investment properties increased by 8% to PLN 108.5 million.
The value of investment properties increased by 11% to over PLN 5 billion (PLN 1.17 billion). At the same time, the Group improved its EBITDA result (excluding investment property revaluation) by 2% to PLN 99.1 million (EUR 23.0 million).
MLP: By 2028, we aim to increase the share of city logistics to 30% of our total gross asset value
– The first half of 2024 was very successful for us and we intend to accelerate the pace of development in the second half of the year. We will develop within key urban agglomerations in our main geographical markets, i.e. in Poland, Germany, Austria and Romania. We believe that by securing the best locations in key urban centers and increasing our land bank, we will be able to accelerate development and consolidate our position. The development of the portfolio of city logistics projects is one of the main drivers of our growth. We expect that increasing its percentage share in the total MLPG portfolio will be a key pillar of success. By 2028, we intend to increase the share of city logistics to 30% of our total gross asset value – said Radosław T. Krochta, President of the Management Board of MLP Group SA
The weighted average lease term of MLP facilities is over 7.8 years. The Group serves an international client base of approximately 195 entities. Thanks to its solid financial position and secure capital structure, the Group can pursue its long-term strategic goals.
Currently, MLP Group is seeking to obtain credit ratings, which will open the way to the European and global debt market, while increasing investment financing possibilities.
The area covered by lease agreements that have already been signed in the first half of 2024 or are in the process of being signed until September 2024 amounts to approximately 161,000 sq m. Contracting of most of the agreements assumed in the budget for the current year is expected in the second half of 2024, in particular in the third quarter.
– By the end of 2024, we plan to focus on leasing space primarily in Vienna, Gelsenkirchen (Schalke), Łódź, Poznań, Pruszków, Idstein (near Frankfurt am Main) and Berlin-Spreenhagen. Our goal is to significantly increase EBITDA and rental income. We also continue to expand our land bank, primarily in key urban locations. This year, we will purchase further land, including in North Rhine-Westphalia, Saxony Anhalt, Rzeszów and Warsaw, which will strengthen our position in strategic markets – emphasized the President of the Management Board of MLP Group SA
