Fundamentals

Have a look at our financial highlights


Income statement (thousands of Mexican pesos) 2022 2021 2020 2019
Revenue 1,501,193 1,311,622 1,346,962 1,213,539
Gross income 1,501,193 1,311,424 1,346,962 1,211,788
Net operating income (NOI) 1,325,424 1,180,286 1,227,884 1,092,692
EBITDA 1,192,952 1,057,694 1,119,209 987,815
Funds from operations (FFO) 1,110,074 917,765 1,052,517 816,661
Adjusted funds from operations (AFFO) 1,119,828 868,320 1,012,677 770,403
Financial position (thousands of Mexican pesos) 2022 2021 2020 2019
Total assets 22,215,849 18,808,265 16,181,141 17,696,683
Cash & equivalents 4,277,140 1,059,608 707,798 3,743,548
Gross debt 5,158,977 5,470,088 4,154,136 4,926,636
Total liabilities 5,767,479 6,235,641 4,579,216 5,299,900
Stockholders’ equity 16,448,370 12,572,624 11,601,925 12,396,783
Profitability (%) 2022 2021 2020 2019
NOI margin 88.29% 89.99% 91.16% 90.18%
EBITDA margin 79.47% 80.64% 83.09% 81.53%
FFO margin 73.95% 69.97% 78.14% 67.40%
AFFO margin 74.60% 66.20% 75.18% 63.58%
Financial ratios (Times) 2022 2021 2020 2019
Current assets / Current liabilities 9.5 2.32 9.21 13.46
Current assets / Total liabilities 0.77 0.21 0.53 0.72
Total liabilities / Stockholders’ equity 0.35 0.50 0.39 0.43
Financial Leverage(1) 0.23 0.29 0.26 0.28

(1) Defined by the National Banking and Securities Commission as Gross Debt and interest payable divided by Total Assets.

Operating indicators 2022 2021 2020 2019
Number of properties 60 60 59 58
Gross Leasable Area (GLA) m2 818,864 818,864 713,925 699,928
Occupancy 90.90% 92.20% 94.40% 96.60%
Average rent / Corporate offices m2 (USD$) 20.3 19.2 18.5 18.7
Average rent / Back offices m2 (USD$) 15.1 11.8 13.5 14.1
Average rent / Industrial offices m2(USD$) 5.0 4.7 4.6 4.5
Average rent / Retail offices m2 (USD$) 7.3 7.6 7.4 7.7
CapEx (thousands of Mexican pesos) 41,993 65,623 58,117 42,645