FIBRA UNO REPORTS SOLID GROWTH IN INDUSTRIAL RENTS AND A STRONG RECOVERY IN OFFICE’S OCCUPANCY
Mexico City, October 24th, 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 third quarter of 2023.
3Q23 Highlights
Third Quarter 2023 Highlights
- Total revenues remained stable at Ps. 6,448.1 million, despite the loss in revenues from the sale of the Reynosa portfolio.
- NOI remained stable at Ps. 5,030.2 million, as the NOI margin over rental revenues reached 86.6%.
- Repurchased Us. 54.6 million of FUNO’s international bonds.
- Distribution per CBFI(1) was Ps. 0.5823, on a quarterly FFO payout of 100% corresponding to the fiscal result.
- Consolidated portfolio occupancy closed at 94.0%, with a 20bps increase QoQ.
- Office segment’s occupancy grew 170 bps QoQ, closing at 79.7%.
- 1,770 basis-point increase in MXP contract renewals in the industrial segment, 790 bps in the “others” segment, and 710 bps in the retail segment.
- 790 basis-point increase in USD contract renewals in the industrial segment, 720 bps in the retail segment, and 230 bps in the office segment.
Compared to Third Quarter 2022 Highlights
- Total revenues increased 7.1% YoY, even considering the effect of property sales and FX appreciation.
- NOI per CBFI(2) increased 4.5% YoY.
- Total portfolio’s occupancy rate increased +80 bps YoY.
- Office segment’s occupancy rate increased +470 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
E-mail: investor@fibrauno.mx
Damian Fraser
Miranda IR
Phone: +52 55-5402-1295