MLP Group recorded revenue of PLN 255.0 million (€60.0 million) in the first half of 2026, up 23% year on year, with rental income rising 34% to PLN 149.3 million (€35.1 million). EBITDA before revaluation grew 19% to PLN 126.0 million (€29.6 million), while net profit nearly doubled to PLN 156.4 million (€36.8 million). During the period, the group delivered 219,600 sqm of new space, bringing its total gross leasable area to 1.7 million sqm. Lease agreements covering approximately 97,700 sqm were signed in the first six months, generating €6.6 million in new annualised rent, and the vacancy rate remained below 5%.
At the end of June, a further 186,000 sqm was under construction across four countries. Once fully leased, those projects have the potential to generate approximately €11.9 million in annual rental income, with an expected minimum yield on cost of 12.4%. The occupancy rate stood at 95%, the weighted average unexpired lease term was approximately 7.3 years, and nearly 99% of rents were paid on time.
"In 2026, we are significantly scaling up MLP Group's operations. Rental income increased by 34%, while EBITDA rose by 19% to PLN 126 million. Poland remains our key market and the main growth engine, while at the same time we are accelerating our expansion in Western Europe," said Radosław T. Krochta, President and CEO of MLP Group S.A.
In Poland, the group commenced a number of new developments in 2026, including MLP Bieruń, MLP Rzeszów, MLP Gorzów, MLP Poznań, the second phase of MLP Business Park Poznań, and a further phase of MLP Pruszków II. In Germany, MLP Group is starting its first project in the Frankfurt metropolitan area (approximately 23,000 sqm) and proceeding with the second phase of MLP Business Park Schalke (approximately 32,000 sqm), whose first phase is fully leased. In Hamburg, development of MLP Hamburg East (approximately 35,000 sqm) is also under way. A third North Rhine-Westphalia project, MLP Business Park Castrop-Rauxel (approximately 73,000 sqm), which would be the group's first scheme designed to accommodate data centre tenants, is scheduled to begin construction in 2027.
"Over the next two quarters, we plan to deliver approximately 200,000 sqm of new leasable space, which will significantly increase the scale of our income-generating portfolio. At the same time, we expect continued high single-digit growth in both rental rates and estimated rental value, supported by strong occupier demand and the limited availability of modern logistics and light industrial space," added Radosław T. Krochta.
