MLP Group, a specialised developer, owner, and manager of commercial, industrial, and logistics parks, presented stable business results for the first half of 2026. Revenue amounted to EUR 60 million, representing a 22 percent increase compared to the previous year. Rental income rose by 33 percent to EUR 35.1 million. EBITDA excluding revaluations reached EUR 29.6 million, corresponding to an 18 percent growth.
During the reporting period, MLP Group concluded lease agreements for a total area of approximately 97,700 square metres, of which 87,900 square metres were new leases. The resulting annualised rental income totals EUR 6.6 million. Concurrently, the developer completed 219,600 square metres of new space, increasing the portfolio's total lettable area to 1.7 million square metres. As of the end of June, a further 186,000 square metres were under construction in the four core markets, which, once fully leased, are expected to generate annual rental income of approximately EUR 11.9 million. The projected minimum initial yield on project costs is 12.4 percent.
MLP Group's existing portfolio demonstrates high stability. The occupancy rate stood at 95 percent at the end of June. The weighted average unexpired lease term (WAULT) was 7.3 years. Approximately 99 percent of rent receivables were paid on time, and the tenant retention rate also reached around 99 percent. MLP Group collaborates with approximately 225 tenants from various sectors, including manufacturing, technology, automotive, e-commerce, retail, and logistics.
Strategic Expansion in Europe
MLP Group's growth strategy focuses on the development of modern logistics and commercial properties in central European markets. Factors such as proximity to customers, efficient infrastructure, and the availability of skilled labour are increasingly important for companies in manufacturing, technology, and logistics. CEO Radosław T. Krochta explained that 2026 saw a significant expansion of activities. He expressed confidence regarding developments in the second half of the year, supported by the strategy of developing projects in central European locations. Poland remains the core market and most important growth driver, while the presence in Western Europe is being strengthened.
Project Development in Germany and Poland
In Poland, MLP Group began developing several projects in 2026, including MLP Bieruń, MLP Rzeszów, MLP Gorzów, and MLP Poznań. The second construction phase of MLP Business Park Poznań and another section of MLP Pruszków II are also among the current undertakings. Parallel to this, expansion in Germany is progressing. In the Frankfurt region, construction began on a first project spanning approximately 23,000 square metres. Work on the second construction phase of MLP Business Park Schalke, covering around 32,000 square metres, is continuing. The first phase of this park, at 36,000 square metres, is already fully leased, underscoring the high demand at the location.
- —In Hamburg, another strategic growth market has been opened up. MLP Group secured an area there for the development of the 35,000 square metre multi-user park MLP Hamburg East.
- —In the Ruhr region, MLP Group's third project, MLP Business Park Castrop-Rauxel, comprising approximately 73,000 square metres, is in an advanced planning stage. This project is the first to offer the potential for data centre settlements.
- —Construction is scheduled to begin in Castrop-Rauxel in 2027.
Mr Krochta forecasts the completion of approximately 200,000 square metres of new lettable space in the coming two quarters, which signifies a substantial expansion of the portfolio. Given the persistently high tenant demand and the limited supply of modern logistics and commercial space, MLP Group continues to expect high single-digit growth in rental prices and Estimated Rental Value (ERV).
