Fibra Uno Announces Third Quarter 2022 Results

funo
FIBRA UNO DELIVERS SOLID YoY NOI, AFFO AND DISTRIBUTION PER CBFI GROWTH OF 10.4%,13.8% AND 52.9% RESPECTIVELY
 
Mexico City, Mexico, October 26th, 2022 – 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 third quarter of 2022.
 
3Q22 Highlights
 
Third Quarter 2022
  • Total revenues increased 3.7% QoQ to Ps. 6,018.4 million. This was equivalent to a 14.8% annualized growth. 
  • NOI increased 5.2% QoQ to Ps. 4,785.0 million, as the NOI margin over rents reached 88.3%. 
  • Sale of 187.5 thousand sqft occupied at 91%, which corresponds to 23 properties from our Azul and Rojo portfolios. There were bank branches and stand-alone properties from the office and “others” segments. The sale was for Ps. 608.4 million at 1.31x NAV, equivalent to Us. 161.9 per sqft and a Cap Rate of 7.2%. 
  • Ps. 97.2 million profit from in-kind collection of past-due rents. 
  • Distribution per CBFI(1) was Ps. 0.5659, on a quarterly AFFO payout of 85%.
  • 22,381,893 CBFIs were repurchased.
  • Completion and delivery of 1.1 million sqft related to Mitikah´s shopping center.
  • Delivery of 720 thousand sqft related to Cuautipark III (Tajuelos III); completing last pending property from Hercules portfolio. 
  • FUNO´s GLA grew 1.6% QoQ, reaching 120.7 million sqft.
 
Compared to Third Quarter 2021
  • Total revenues increased 11.8% YoY. 
  • NOI margin over rents remained above 85%. 
  • NOI/CBFI(2) increased 10.4% YoY. 
  • AFFO per CBFI increased 13.8%; equivalent to an AFFO/CBFI of Ps. 0.0805. 
  • Distribution per CBFI grew 52.9%. 
  • In the last twelve months, we have repurchased 52,807,968 CBFIS equivalent to 1.4% of outstanding CBFIs. 
  • Debt prepayment: FUNO-18 bonds for Ps. 147.3 million and senior notes 2050 for a value of Us. 50.6 million. 
  • FUNO´s GLA grew 3.8% or 4.4 million sqft YoY, reaching 120.7 million sqft. 
  • Completion of Mitikah´s phase I, equivalent to 3.1 million(3) sqft.
 
(1) Calculated with estimated CFBIs at distribution day.
(2) Calculated with the average CBFIs of the period.
(3) Including Centro Bancomer. 

 

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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