Fibra Uno Announces First Quarter 2023 Results

funo
FIBRA UNO POSTS RECORD NOI OF $5 BILLION PESOS FOR THE 1Q23
 
Mexico City, April 26th, 2023 – Fibra Uno (BMV: FUNO11) (“FUNO” o “Fideicomiso Fibra Uno”), the first and largest Real Estate Investment Trust in Mexico and Latin America announces its results for the first quarter of 2023.
 
1Q23 Highlights
 
First Quarter 2023
  • Total revenues increased 2.3% QoQ to Ps. 6,377.6 million, for a 9.2% annualized growth.
  • Retail revenues increased 11.0% QoQ, mainly driven by occupancy gains and revenue contributions from Mitikah’s shopping mall.
  • NOI increased 2.6% QoQ to Ps. 5,000.1 million, as the NOI margin over rental revenues reached 86.5%.
  • Sustainability-linked bonds FUNO 23-L and FUNO 23-2L issued for Ps. 6,700 million.
  • Prepayment of FUNO-18 bond for Ps. 5,400 million.
  • Prepayment of bilateral credit lines for Ps. 1,600 million.
  • Distribution per CBFI(2) was Ps. 0.3891, on a quarterly FFO payout of 66.2% and corresponds to fiscal result.
  • Consolidated portfolio occupancy closed at 93.8%.
  • Office segment’s occupancy rate increased 90 bps QoQ, closing at ~78%; in line with our expectation to reach 80% by the end of 2023.
  • +1,560 and +900 basis-point increases in MXP contract renewals in the industrial and retail segments, respectively.
 
Compared to First Quarter 2022
  • Total revenues increased 9.0% YoY.
  • NOI per CBFI(1) increased 8.5% YoY.
  • Total portfolio’s occupancy rate increased 120 bps YoY.
  • Office segment’s occupancy rate increased 290 bps YoY.
  • Despite asset sales during 2022, FUNO´s GLA grew 0.6% or 752 thousand sqft YoY, reaching 118 million sqft.
  • NOI margin over rents remained above 86%.
 
(1) Calculated with estimated CFBIs at distribution day.
(2) Calculated with the average CBFIs of the period.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Jorge Pigeon
VP Investor Relations
Phone: +52 55-41-70-70-70
 
Damian Fraser
Miranda IR
Phone: +52 55-5402-1295

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