Fundamentals
| Income statement (thousands of Mexican pesos) | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Revenue | 2,733,241 | 2,152,230 | 1,501,193 | 1,311,622 |
| Gross income | 2,735,565 | 2,152,230 | 1,501,193 | 1,311,424 |
| Net operating income (NOI) | 2,476,490 | 1,947,452 | 1,325,424 | 1,180,286 |
| EBITDA | 2,284,745 | 1,785,661 | 1,192,952 | 1,057,694 |
| Funds from operations (FFO) | 2,416,938 | 1,627,600 | 1,110,074 | 917,765 |
| Adjusted funds from operations (AFFO) | 2,372,241 | 1,586,223 | 1,119,828 | 868,320 |
| Financial position (thousands of Mexican pesos) | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Total assets | 46,013,331 | 28,991,675 | 22,215,849 | 18,808,265 |
| Cash & equivalents | 6,198,210 | 1,038,859 | 4,277,140 | 1,059,608 |
| Gross debt | 11,787,606 | 7,597,339 | 5,158,977 | 5,470,088 |
| Total liabilities | 12,634,617 | 8,213,643 | 5,767,479 | 6,235,641 |
| Stockholders’ equity | 33,378,717 | 20,778,032 | 16,448,370 | 12,572,624 |
| Profitability (%) | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| NOI margin | 90.60% | 90.50% | 88.30% | 90.00% |
| EBITDA margin | 83.60% | 83.00% | 79.50% | 80.60% |
| FFO margin | 88.40% | 75.60% | 73.90% | 70.00% |
| AFFO margin | 86.80% | 73.70% | 74.60% | 66.20% |
| Financial ratios (Times) | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Current assets / Current liabilities | 7.9 | 2.6 | 9.5 | 2.32 |
| Current assets / Total liabilities | 0.60 | 0.18 | 0.77 | 0.21 |
| Total liabilities / Stockholders’ equity | 0.38 | 0.40 | 0.35 | 0.50 |
| Financial Leverage(1) | 25.9% | 26.6% | 23.7% | 29.7% |
(1) Defined by the National Banking and Securities Commission as Gross Debt and interest payable divided by Total Assets.
| Operating indicators | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Number of properties | 117 | 106 | 60 | 60 |
| Gross Leasable Area (GLA) m2 | 1,871,530 | 1,652,673 | 818,864 | 818,864 |
| Occupancy | 96.20% | 96.30% | 90.90% | 92.20% |
| Average rent / Corporate offices m2 (USD$) | 19.4 | 20.8 | 20.3 | 19.2 |
| Average rent / Back offices m2 (USD$) | 16.1 | 16.0 | 15.1 | 11.8 |
| Average rent / Industrial offices m2(USD$) | 5.9 | 5.5 | 5.0 | 4.7 |
| Average rent / Retail offices m2 (USD$) | 7.7 | 8.9 | 7.3 | 7.6 |
| CapEx (thousands of Mexican pesos) | 130,000 | 57,600 | 41,993 | 65,623 |