The following is a summary of the Fibra UNO. (FBASF) Q4 2023 Earnings Call Transcript:
Financial Performance:
FIBRA UNO's total quarterly revenues increased by MXN 335 million, reaching nearly MXN 6.8 billion, up 5.2% from Q3 2023.
Despite a 17.5% increase in operating expenses from Q3, the company reported a net operating income increase of MXN 81 million, or 1.6%, to reach MXN 5.1 billion.
Total debt for the quarter stood at MXN 129.5 million, and AFFO observed an increase of MXN 89.5 million or 4% from the third quarter, reaching MXN 2.3 billion.
Accounts receivable increased by MXN 360 million, totaling MXN 3.5 billion.
Business Progress:
The company's average occupancy increased by 100 basis points to 95% in Q4 2023. This consisted of 98.5% in the industrial portfolio, 92% in the retail portfolio and 81.7% in the office portfolio.
All segments reported positive leasing spreads, with the industrial segment seeing a rise of 16.8%, the retail segment 660 basis points, and the office segment nearly 2%.
The company has successfully eliminated all refinancing risks by issuing new 2034 US Dollar bonds meant for the refinancing of the existing 2024 bond maturing in December.
Fibra UNO has established a pipeline that involves a retail asset and three office buildings, a total investment of MXN 4.2 billion.
The company has noted positive trends of employees returning to offices and new companies entering the market, indicating an expected boost in office occupancy rates and subsequent rent increases.
More details: BANCO ACTINVER SA IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.