MLP Group (MLG) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 27% YoY to PLN 390.3m; net income increased 84% to PLN 165.2m, including PLN 240.7m of investment-property revaluation gains.

• Strategy centers on measured growth in core European urban areas, leasing to high-quality tenants, and maintaining a conservative financing profile.

Financial highlights

• 9M rent revenue reached PLN 231.3m, up 34% YoY; property-management revenue was PLN 159.0m versus PLN 134.2m.

• Operating income was PLN 432.6m versus PLN 237.9m; pre-tax profit was PLN 218.3m versus PLN 131.4m.

• Net income was PLN 165.2m versus PLN 89.8m; basic EPS was PLN 6.88 versus PLN 3.74.

• Q3 revenue was PLN 135.3m, up 35% YoY; EBITDA excluding revaluation was PLN 69.0m, up 30%, while net income fell 17% to PLN 8.8m.

Outlook and guidance

• No FY2026 earnings forecast was published; near-term results may be affected by macroeconomic conditions, interest rates, FX movements, and property revaluations.

• 9M leasing agreements covered ~170,425 m², including ~155,300 m² of new leases and ~15,100 m² of re-letting; ~84,700 m² was signed in Q3.

• A late-September lease for ~42,500 m² at MLP Bieruń was signed with a long-standing tenant; the project was ~75% pre-leased before completion.