Mexico · Delayed Price · Currency is MXN FIBRA Macquarie México Earnings Call Transcripts
Fiscal Year 2026
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First quarter 2026 results were strong, with record EBITDA and FFO, robust leasing activity, and resilient portfolio fundamentals. Guidance for AFFO was updated due to a major land acquisition, while distribution guidance remains unchanged, reflecting confidence in cash flow stability.
Fiscal Year 2025
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Record revenues and NOI drove an 8.3% AFFO per certificate increase and a 33% USD total return for 2025. Industrial and retail portfolios maintained high occupancy, with strong leasing spreads and robust liquidity. 2026 guidance anticipates steady growth, with upside if market conditions improve.
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Record revenues and AFFO growth were achieved, with strong industrial and retail performance, a major Mexico City logistics acquisition, and robust liquidity following a $375 million credit facility refinancing. Guidance for 2025 was reaffirmed, with steady demand expected across segments.
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Record Q2 results with strong AFFO growth, high occupancy, and robust leasing spreads. Guidance for 2025 is reaffirmed, with disciplined capital allocation and a resilient retail segment. Macro uncertainties persist, but liquidity and leverage remain solid.
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Record Q1 results with robust NOI and AFFO growth, strong industrial leasing spreads, and proactive renewals. Liquidity remains high, with no debt maturities until 2026, and guidance for AFFO and distributions reaffirmed. Market uncertainty persists, but portfolio performance and outlook remain stable.
Fiscal Year 2024
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Record AFFO and NOI growth were achieved, with strong leasing spreads and occupancy gains in both industrial and retail segments. FY 2025 guidance anticipates continued AFFO and distribution growth, supported by a robust balance sheet and cautious optimism amid macro uncertainties.
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Record NOI and NAV were achieved, with strong year-over-year growth in revenue, NOI, and AFFO. Upgraded guidance reflects robust performance, while disciplined capital allocation and a healthy development pipeline support future growth. Market normalization and nearshoring trends provide a positive outlook.
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Record Q2 results with strong NOI and NAV growth, robust industrial and retail performance, and continued execution of the development pipeline. Guidance for AFFO and distributions maintained, with significant liquidity and a positive outlook driven by nearshoring and supportive market conditions.