Fibra Uno Announces Second Quarter 2023 Results

 

FIBRA UNO DELIVERS SOLID YoY NOI AND DIVIDEND PER CBFI GROWTH OF 10.3% AND 9.1%VS 2Q22

 

Mexico City, July 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 second quarter of 2023.

 

2Q23 Highlights

Second Quarter 2023 Highlights

  • Total revenues increased 1.1% QoQ to Ps. 6,448.6 million,  despite FX appreciation and its effect on USD revenues.
  • NOI increased 0.5% QoQ to Ps. 5,023.6 million, as the NOI margin over rental revenues reached 86.2%.
  • Repurchased Us. 70.7 million of FUNO’s international bonds.
  • Distribution per CBFI(1) was Ps. 0.5713, on a quarterly FFO payout of 100% and corresponds to fiscal result.
  • Completion and delivery of Tapachula’s development.
  • Consolidated portfolio occupancy closed at 93.8%.
  • 1,660 basis-point increase in MXP contract renewals in the industrial segment, 890 bps in the retail segment, 710 bps the others segment, and 50 bps in the office segment.

 

Compared to Second Quarter 2022 Highlights

  • Total revenues increased 11.2% YoY, even considering the adverse effect of property sales and FX appreciation.
  • NOI per CBFI(2) increased 10.3% YoY.
  • Net debt/EBITDA closed at 6.8x, a significant improvement vs 7.7x in 2Q22.
  • Total portfolio’s occupancy rate increased +60 bps YoY.
  • Office segment’s occupancy rate increased +310 bps YoY.
  • 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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