Fibra Uno Announces Fourth Quarter 2022 Results

FIBRA UNO DELIVERS SOLID YoY DISTRIBUTION PER CBFI GROWTH OF 62.1% 
 
Mexico City, Mexico, February 22nd, 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 fourth quarter of 2022.
 
4Q22 Highlights
 
Fourth Quarter 2022
  • Distribution per CBFI(2) was Ps. 1.1068, on a quarterly AFFO payout of 146.9%.
  • Total revenues increased 3.5% QoQ to Ps. 6,231.6 million. This was equivalent to a 14.0% annualized growth.
  • NOI increased 1.8% QoQ to Ps. 4,872.1 million, as the NOI margin over rental revenues reached 86.6%.
  • Sale of 2.9 million sqft occupied at 95.4%. Including 16 properties from our Vermont, Maine, California, and Titan portfolios, and a 5 million square-foot industrial land bank. The sale was for Us. 205.5 million at 1.2x NAV, and a 7% Cap Rate.
  • Gain from a derivative’s early cancellation, linked to the HSBC loan for Ps. $172.1 million.
  • Total portfolio occupancy closed at 93.7%, +50 bps above 3Q22.
  • +1,170 and +880 basis-point increases in MXP contract renewals  in the industrial and retail segments, respectively.
  • Delivery of 463.2 thousand sqft related to Galerías Valle Oriente and Tultipark expansions.
 
Compared to Fourth Quarter 2021
  • Distribution per CBFI(2) grew 62.1%, equivalent to 99.9% of annual AFFO.
  • During 2022 we closed property sales in the retail, “others”, and industrial segments for a total of Ps. 608.4 million and Us. 225.1 million.
  • Bond repurchases for Ps.147.3 million from FUNO-18, Ps. 15.6 million from FUNO-15, Us. 50.6 million from 2050 senior notes, and Us. 7 million from 2030 senior notes in the last 12 months.
  • In the last twelve months, we have repurchased 49,548,744 CBFIs, equivalent to 1.3% of outstanding CBFIs.
  • AFFO per CBFI increased 8.6%; equivalent to an AFFO/CBFI(1) of Ps. 0.7534.
  • During 2022 we delivered 4.6 million sqft related to the following developments: Tepozpark/La Teja, Mitikah’s shopping mall, Cuautipark III acquisition, Galerías Valle Oriente, Tultitlán, Tijuana Pacífico II, and Tijuana Alamar VII expansions, among others.
  • FUNO’s GLA grew 1.0% or 1.1 million sqft YoY, reaching 118 million sqft.
  • NOI margin over rents remained above 88%.
 
(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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