Friday, 21 August 2026
MLP Group increased rental income by 34% year-on-year in the first half of 2026 as the logistics and industrial property developer expanded its portfolio and accelerated investment activity across Poland and Germany.
Group revenue reached PLN 255 million, up 23% compared with the same period last year, while rental income increased to PLN 149.3 million. EBITDA before property revaluations rose 19% to PLN 126 million, and net profit almost doubled to PLN 156.4 million.
The value of MLP’s property portfolio increased to PLN 7.36 billion at the end of the period, 11% higher year-on-year. Net asset value reached PLN 3.36 billion, representing an increase of 5%, while NAV per share rose by the same percentage to PLN 139.9.
Expansion of the income-producing portfolio contributed to the growth. MLP completed 219,600 sqm of new space during the first six months of 2026, taking its total gross leasable area to approximately 1.7 million sqm.
Leasing activity reached 97,700 sqm during the period, including 87,900 sqm attributable to new agreements. The contracts signed since the beginning of the year represent approximately EUR 6.6 million of additional annualised rental income.
Occupancy stood at 95% at the end of June, with the weighted average remaining lease term at approximately 7.3 years. MLP reported that close to 99% of rents were paid on time and tenant retention was also around 99%. Its approximately 225 occupiers operate across manufacturing, technology, automotive, e-commerce, retail and logistics.
Another 186,000 sqm was under construction across four countries at the end of June. According to the company, once fully occupied these developments could produce approximately EUR 11.9 million in annual rental income. MLP expects a minimum yield on cost of 12.4% from the projects currently being developed.
Poland remains the group’s largest market and the main focus of its current development programme. Projects launched during 2026 include MLP Bieruń, MLP Rzeszów and MLP Gorzów, together with further development in Poznań and at MLP Pruszków II.
At the same time, MLP is increasing its exposure to Germany as it builds a larger Western European platform.
The company is preparing its first development in the Frankfurt metropolitan region, comprising approximately 23,000 sqm. It is also moving ahead with around 32,000 sqm in the second phase of MLP Business Park Schalke. The project’s approximately 36,000 sqm first phase has already been fully leased.
Hamburg represents another expansion market, where MLP is starting development of MLP Hamburg East with approximately 35,000 sqm of space.
The group is also preparing MLP Business Park Castrop-Rauxel in North Rhine-Westphalia. The approximately 73,000 sqm development is scheduled to start construction in 2027 and will be MLP’s first scheme designed to accommodate potential data centre occupiers alongside its established industrial and logistics customer base.
The move towards data centres represents a potential extension of MLP’s traditional development model as European demand for computing infrastructure increases and industrial developers look for opportunities to use strategically located land and power capacity for a wider range of occupiers.
MLP expects its portfolio to continue expanding during the remainder of 2026. The company plans to complete approximately 200,000 sqm of additional leasable space over the next two quarters.
Radosław T. Krochta, President and CEO of MLP Group, said the company expects continued growth in both rental levels and estimated rental values, supported by occupier demand and constrained availability of modern logistics and light-industrial properties.
The first-half figures indicate that MLP’s growth is increasingly being driven by a combination of portfolio expansion and higher recurring property income. With almost 220,000 sqm completed during the first half and another 186,000 sqm under construction at the end of June, the group’s development pipeline is set to add further income-producing assets as it increases its scale in both Central and Western Europe.
