Monday, 14 September 2026
DL Invest Group reported a 52.4% year-on-year increase in consolidated EBITDA to PLN 115.8 million (EUR 27.2 million) in the first half of 2026, as the Polish real estate and infrastructure group continued to expand its logistics portfolio and data centre activities. Operating revenue increased by 35% to PLN 206.1 million (EUR 48.5 million), compared with PLN 152.6 million during the same period of 2025, while profit on sales rose by 51.7% to PLN 118.4 million (EUR 27.8 million). Total assets stood at approximately EUR 1.2 billion at the end of June.
The group reported an average occupancy rate of approximately 97% across its operational investment properties. DL Invest develops, owns and manages its properties internally and generally retains completed assets rather than selling them following development. Lease agreements typically run for between five and 20 years. Logistics remains the largest part of the group’s portfolio, with tenants including DHL, InPost, Inditex, Rossmann, Pepco, Valeo, FM Logistic, Hutchinson, Asseco and Bank Gospodarstwa Krajowego.
DL Invest is also increasing its exposure to the wider European logistics investment market. Since October 2025, the group has held 73.4 million shares in abrdn European Logistics Income plc (ASLI), representing approximately 17.9% of voting rights and making it the company’s largest shareholder. The group has also expanded its presence in European debt markets. In July 2025, DL Invest issued EUR 350 million of unsecured bonds carrying a fixed 6.625% coupon and maturing in July 2030. The bonds are listed on the Euro MTF market of the Luxembourg Stock Exchange, with proceeds used partly to refinance existing secured debt and extend the group’s maturity profile.
Development activity during the first half of 2026 included logistics projects across several Polish regional markets. In Opole, DL Invest is developing approximately 16,000 sqm, while a further 14,000 sqm is being developed in Kielce. Both schemes combine larger areas for established occupiers with smaller business units starting at around 500 sqm. In Białystok, the group is developing an approximately 11,000 sqm courier facility backed by a ten-year lease, with potential for a further 2,000 sqm of warehouse and office accommodation. Near Bochnia, work is progressing on the second phase of an existing 7,449 sqm production and logistics facility.
DL Invest’s pipeline also includes a 20,900 sqm logistics development in the Kraków region, expected to be completed in 2027 or 2028, alongside further redevelopment of DL Craft, a 28,000 sqm mixed-use property in central Katowice. A significant part of the group’s longer-term strategy centres on DL Invest Park Bielsko-Biała II. The 267,461 sqm technology and production complex occupies a 52.8-hectare site and was acquired in December 2024. DL Invest is repositioning the property as a multi-tenant industrial and technology campus.
The Bielsko-Biała site is also intended to support the group’s expansion into data centres. DL Invest has been developing a dedicated digital infrastructure business since 2024, targeting demand from cloud computing, artificial intelligence, GPU-based computing and other high-performance technology operators. The group said it currently has a fully commercialised 125 MW data centre under development, with its digital infrastructure strategy combining property development with access to power, grid connections, telecommunications infrastructure and long-term management of large-scale sites.
Founder and CEO Dominik Leszczyński said the first-half results reflected the scale of the operating business supporting the group’s European investment activities. He said DL Invest’s strategy remained focused on long-term ownership, reinvestment and adapting properties as occupier requirements change.
The combination of recurring rental income, regional logistics development and digital infrastructure is increasingly broadening DL Invest’s activities beyond its traditional Polish property portfolio. Its ASLI investment also gives the group a substantial position in a listed European logistics platform as it builds its presence outside its domestic market.
