Fundamentals

Have a look at our financial highlights


Income statement (thousands of Mexican pesos) 2020 2019 2018 2017
Revenue 1,346,962 1,213,539 945,824 832,071
Gross income 1,346,962< 1,211,788 833,900 718,325
Net operating income (NOI) 1,227,884 1,092,692 834,928 725,138
EBITDA 1,119,209 987,815 745,239 649,839
Funds from operations (FFO) 1,052,517 816,661 712,261 589,947
Adjusted funds from operations (AFFO) 1,012,677 770,403 680,289 569,260
Financial position (thousands of Mexican pesos) 2020 2019 2018 2017
Total assets 16,181,141 17,696,683 14,361,695 11,306,957
Cash & equivalents 707,798 3,743,548 609,031 1,568,703
Gross debt 4,154,136 4,926,636 5,283,241 2,731,028
Total liabilities 4,579,216 5,299,900 5,499,334 2,836,290
Stockholders’ equity 11,601,925 12,396,783 8,862,361 8,470,667
Profitability (%) 2020 2019 2018 2017
NOI margin 91.16% 90.18% 88.28% 87.15%
EBITDA margin 83.09% 81.53% 68.71% 78.10%
FFO margin 78.14% 67.40% 75.31% 70.90%
AFFO margin 75.18% 63.58% 71.93% 68.41%
Financial ratios (Times) 2019 2019 2018 2017
Current assets / Current liabilities 9.21 13.46 3.17 8.17
Current assets / Total liabilities 0.53 0.72 0.11 0.55
Total liabilities / Stockholders’ equity 0.39 0.43 0.62 0.33
Interest coverage1       5.82
Leverage 0.26 0.28 0.37 0.24

(1) Calculated in accordance with the methodology applicable to the Trust Agreement.

Operating indicators 2020 2019 2018 2017
Number of properties 59 58 54 43
Gross Leasable Area (GLA) m2 713,925 699,928 661,084 504,534
Occupancy 94.40% 96.60% 97.00% 96.60%
Average rent / Corporate offices m2 (USD$) 18.5 18.7 18.7 18.5
Average rent / Back offices m2 (USD$) 13.5 14.1 13.4 12.9
Average rent / Industrial offices m2(USD$) 4.6 4.5 4.3 4.2
Average rent / Retail offices m2 (USD$) 7.4 7.7 7.2 6.9
CapEx (thousands of Mexican pesos) 58,118 42,645