Fundamentals

Have a look at our financial highlights


Income statement (thousands of Mexican pesos) 2021 2020 2019 2018
Revenue 1,311,622 1,346,962 1,213,539 945,824
Gross income 1,311,424 1,346,962 1,211,788 833,900
Net operating income (NOI) 1,180,286 1,227,884 1,092,692 834,928
EBITDA 1,057,694 1,119,209 987,815 745,239
Funds from operations (FFO) 917,765 1,052,517 816,661 712,261
Adjusted funds from operations (AFFO) 868,320 1,012,677 770,403 680,289
Financial position (thousands of Mexican pesos) 2021 2020 2019 2018
Total assets 18,808,265 16,181,141 17,696,683 14,361,695
Cash & equivalents 1,059,608 707,798 3,743,548 609,031
Gross debt 5,470,088 4,154,136 4,926,636 5,283,241
Total liabilities 6,235,641 4,579,216 5,299,900 5,499,334
Stockholders’ equity 12,572,624 11,601,925 12,396,783 8,862,361
Profitability (%) 2021 2020 2019 2018
NOI margin 89.99% 91.16% 90.18% 88.28%
EBITDA margin 80.64% 83.09% 81.53% 68.71%
FFO margin 69.97% 78.14% 67.40% 75.31%
AFFO margin 66.20% 75.18% 63.58% 71.93%
Financial ratios (Times) 2021 2020 2019 2018
Current assets / Current liabilities 2.32 9.21 13.46 3.17
Current assets / Total liabilities 0.21 0.53 0.72 0.11
Total liabilities / Stockholders’ equity 0.50 0.39 0.43 0.62
Interest coverage1        
Leverage 0.29 0.26 0.28 0.37

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

Operating indicators 2021 2020 2019 2018
Number of properties 60 59 58 54
Gross Leasable Area (GLA) m2 818,864 713,925 699,928 661,084
Occupancy 92.20% 94.40% 96.60% 97.00%
Average rent / Corporate offices m2 (USD$) 19.2 18.5 18.7 18.7
Average rent / Back offices m2 (USD$) 14.4 13.5 14.1 13.4
Average rent / Industrial offices m2(USD$) 4.7 4.6 4.5 4.3
Average rent / Retail offices m2 (USD$) - 7.4 7.7 7.2
CapEx (thousands of Mexican pesos) 65,623 58,118 42,645