Is TAS Logistyka’s CTPark Warsaw Expansion Reshaping CTP’s Client-Led Growth Story (ENXTAM:CTPNV)?

• Earlier in December 2025, CTP announced that TAS Logistyka expanded its lease at CTPark Warsaw South in Poland by almost 15,500 sqm, bringing its total space at the park to about 42,000 sqm since first signing in 2023.
• This rapid expansion by an existing tenant highlights CTP’s focus on deepening client relationships and capturing demand for modern Polish logistics space across its growing park network.
• We’ll examine how TAS Logistyka’s rapid expansion within CTPark Warsaw South influences CTP’s investment narrative and long-term client-led growth focus.

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What Is CTP's Investment Narrative?

For CTP, you really have to believe in the company’s ability to compound value through disciplined development and long-term tenant relationships rather than spectacular earnings growth. The TAS Logistyka expansion at CTPark Warsaw South neatly fits this story: it reinforces management’s message that roughly two-thirds of new leases come from existing clients, and it supports the idea of sticky demand in Poland’s logistics market. That said, the incremental 15,500 sqm is unlikely to move near-term earnings or materially change the current catalysts, which still hinge on delivering the development pipeline, meeting 2025 EPS guidance of €0.86–€0.88 and managing funding costs after recent green bond and sustainability-linked loan issues. The bigger risk remains CTP’s balance between growth, rising interest expenses and the quality of earnings after large one-off gains.

However, one risk around debt costs and earnings quality is easy to overlook at first glance.

CTP's shares are on the way up, but they could be overextended by 20%. Uncover the fair value now.

Exploring Other Perspectives

Five fair value estimates from the Simply Wall St Community span roughly €14.89 to €27.28 per share, showing how differently private investors see CTP’s potential. Against that backdrop, the key question is whether CTP’s client-led leasing wins and development commitments can offset pressure from interest costs and relatively modest forecast profit growth, which could heavily influence how those valuations ultimately play out.

Explore 5 other fair value estimates on CTP - why the stock might be worth 16% less than the current price!

Build Your Own CTP Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your CTP research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
• Our free CTP research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate CTP's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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