Stable development and solid financial performance: MLP Group's operating profit rises by 28% in the third quarter

• Revenue: EUR 72.5 million (+ 12 % compared to the previous year)
• Earnings before interest, taxes, depreciation and amortization (EBITDA) excluding revaluation of EUR 37.6 million (+14% year-on-year)
• Value of investment property: €1.41 billion (+9% compared to 31 December 2024)
• Net asset value (NAV): EUR 663.3 million (+3% compared to 31 December 2024)
• Net asset value (NAV) per share: EUR 27.6 (+3% compared to December 31, 2024)
• Net profit: EUR 21.2 million (compared to EUR 61.6 million in the third quarter of 2024)
• Leases  signed since the beginning of the year for approx. 189,000 m² of space

Caption: Radosław T. Krochta, Chairman of the Executive Board of MLP Group S.A. Copyright: MLP Group.

The MLP Group, a developer, owner and manager of high-quality commercial, industrial and logistics parks specializing in brownfield sites, reports solid financial results after the first three quarters of 2025. The company continues its steady growth, posting a 12% increase in revenue and a 14% increase in earnings before interest, taxes, depreciation and amortization (EBITDA), as well as strong 28% growth in funds from operations (FFO).

Constant growth and efficient operating performance

In the first three quarters of the 2025 financial year, the MLP Group generated consolidated revenues of EUR 72.5 million, which corresponds to an increase of 12% compared to the same period of the previous year. EBITDA excluding revaluation increased by 14% to EUR 37.6 million. FFO increased by 28%, underlining the high performance of the portfolio and its ability to generate reliably stable cash flows.

"Performance, stability and continuous growth are among the key features of our business model. The 28% increase in FFO confirms the solid positioning of the MLP Group and the ability of our portfolio to generate reliably stable cash flows. Our strategy is based on a high-quality real estate portfolio, long-term tenant relationships and prudent risk management. Our business is highly predictable and we consistently focus on key factors such as tenant satisfaction, the sustainable performance of the portfolio and steady cash flow growth. After a strong third quarter, we expect a high letting volume in the fourth quarter. The view of the market is promising," says Radosław T. Krochta, CEO of MLP Group S.A.

Good financial position and secure debt profile

The MLP Group continues to pursue a conservative financing approach that contributes to a solid liquidity position and enables the developer to finance its projects while maintaining a fixed debt interest rate and a conservative maturity profile. At the end of the third quarter, the net debt-to-EBITDA ratio was 12.7x, compared to 10.7x in the corresponding period in 2024. This corresponds to an increase of 19%. In view of the positive growth trend in EBITDA, both this figure and the forward-looking key figure (net debt-to-run rate EBITDA) are expected to improve in the coming periods.

Real estate portfolio and development activity

At the end of September 2025, the value of investment property amounted to EUR 1.41 billion, up 9% on December 31, 2024. Net asset value (NAV) also rose by 3% to EUR 663.3 million in the first three quarters.

Since the beginning of the year, the MLP Group has concluded lease agreements for a total area of around 189,000 m². The developer now has contracts for a total of 1.3 million sqm of rental space with around 195 tenants.

At the end of the third quarter, the total area of projects under construction amounted to 326,800 m². The total development potential of the land portfolio (including options) exceeds 2.4 million m². To date, more than 1.3 million m² of modern space has already been completed. The MLP Group's portfolio is one of the most modern in the European logistics market. Around 90% of the properties were built in the last ten years, over 60% in the past five years.

Operational stability and long-term tenant relationships

The occupancy rate was 91% at the end of September 2025, a similar level to the previous year. 98% of rents were paid on time and the tenant retention rate reached 99%, underpinning the exceptionally stable and loyal tenant base.

Long-term partnerships – in many cases with terms of more than 20 years – form an essential part of the MLP Group's corporate strategy and are based on trust, flexibility and long-term cooperation.

The MLP Group is active in Poland, Germany, Austria and Romania. It focuses on the development of logistics and urban business parks in line with high ESG standards and the principles of sustainable development.

About MLP Group S.A.:

The MLP Group is a developer, owner and manager of high-quality commercial, industrial and logistics parks in Poland, Germany, Austria and Romania specializing in brownfield sites. The company owns and manages a real estate portfolio with a total lettable area of around 1.6 million m². The net asset value amounts to over EUR 663 million (Q3/2025). The MLP Group has been listed on the Warsaw Stock Exchange WSE since 2013 (ISIN: PLMLPGR00017).

With offices in Warsaw, Frankfurt am Main, Cologne, Vienna and Bucharest, the company offers tailor-made and sustainable real estate solutions for users from various industries such as retail, e-commerce, manufacturing, automotive and logistics.

The MLP Group was founded in 1998 in Warsaw, Poland. The company has been present on the German market since 2017 and on the Austrian market since 2022. It currently has seven properties in Berlin, Castrop-Rauxel, Gelsenkirchen, Idstein, Unna and Vienna.

Further details about the MLP Group can be found at www.mlpgroup.com

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