Fibra Uno Announces Fourth Quarter and Full Year 2020 Results

FIBRA UNO DELIVERS STRONG QoQ FFO AND AFFO PER CBFI GROWTH OF 61.3% & 59.1% RESPECTIVELY

Mexico City, Mexico, February 25th, 2021 – 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 2020.

 
2020 Highlights

Fourth Quarter 2020

  • Total revenues after COVID-19 related supports increased 14.5% QoQ to Ps. 5,191.4 million.
  • NOI increased 20.7% QoQ to Ps. 4,112.5 million as NOI margin over rents reached 87.4%.
  • Total payment of our revolving credit facility for Ps. 6,736.5 million and Us. 204.6 million.
  • Deleverage actions for approx. Ps. 670 million.
  • By the end of the quarter, we closed the sale of one industrial property in Ramos Arizpe for Us. 60 million, previously announced.
  • During the quarter, we closed the acquisition of Uptown Juriquilla for Ps. 1,060.4 million at a Cap Rate of 8.5%.
  • AFFO quarterly payout of 56.7%
  • The buyback program recorded 23,300,186 CBFIs, or 0.6% of the outstanding CBFIs.
  • Total portfolio’s occupancy closed at 93.1% vs 93.3% in the previous quarter.
  • GLA grew 2.0% QoQ, reaching 10.7 million square meters.
  • Leasing spreads vs. peso inflation were 0.8% in retail, 4.1% in industrial and -1.4% in office.
  • NAV/CBFI Ps. 44.78, a growth of 5.9% vs 3Q20.
 

Compared to Fourth Quarter 2019

  • Total revenues after COVID-19 related supports increased 1.9% YoY.
  • NOI increased 2.2% YoY.
  • NOI margin over rents remained above 87%.
  • NOI/CBFI increased 3.8% YoY.
  • During 2020, we carried out actions to reduce leverage for approx. Ps. 890 million.
  • During the year, we sold 3 properties and 3 plots of land for a total of Us. 98.8 million at 1.33x book value and a Cap Rate of 7.25%
  • AFFO year-to-date payout of 69.2%
  • During 2020 we repurchased 77,027,606 CBFIs or 2.0% of the outstanding CBFIs.
  • FUNO´s GLA grew 5.8% YoY, reaching 10.7 million square meters.
  • In the past 12 months, we completed the development of four properties: Torre M (Mitikah), La Viga, La Isla Cancun II and Medical Tower (Mitikah), adding up to approximately 136 thousand sqm.
  • Over the same period, we also closed the acquisition of the group of properties denominated Hercules, Uptown Juriquilla and the Titan portfolio for approximately 1.5 million sqm.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Jorge Pigeon, VP Investor Relations

Tel: +52-55-41-70-70-70

E-mail: investor@fibrauno.mx

Website: https://en.funo.mx/investors  

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