MLP Group recorded PLN 16.12 million of consolidated net profit attributable to shareholders of the parent company in Q1 2021 compared to PLN 112.62 million of profit a year earlier, the company said in its report.
The operating profit amounted to PLN 36.65 million versus PLN 191.92 million profit a year earlier.
Consolidated sales revenues reached PLN 49.94 million in Q1 2021 compared to PLN 42.77 million a year earlier.
“Between December 31, 2020 and March 31, 2021, the value of investment properties increased by EUR 16 738.1 thousand and amounted to EUR 513 795.7 thousand. This change was mainly due to the expenditure incurred on the advancement of construction works in new parks, new lease agreements for areas of new facilities, obtaining a building permit for new facilities,” according to the report.
The total space leased as at March 31, 2021 amounted to 775,979 sqm and increased by 20,490 sqm compared to the total space leased as at December 31, 2020, while compared to the same period in 2020, this space increased by 38,207 sqm, it stated.
On a standalone basis, the net profit in Q1 2021 amounted to PLN 3.04 million compared to PLN 1.58 million loss a year earlier.
The beginning of the year was another successful period for us. So far, we have not noticed any noticeable impact of successive waves of the coronavirus pandemic on the financial situation of the Group. On the contrary, we achieved a significant increase in revenues due to the transfer of new modern warehouse space to tenants. We are constantly maintaining a very high rent rate in our facilities, and the vacancy rate remains at just a few percent. All development projects on the serviced markets are carried out according to plan,” said Radosław T. Krochta, President of the Management Board of MLP Group S.A.
MLP Group is a developer of warehouse and production space. The company has been listed on the WSE since 2013. Its consolidated sales revenues reached PLN 190.7 million in 2020.
Source: ISBnews and MLP Group
