The following is a summary of the Fibra UNO (FBASF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Reported a 1.4% quarter-over-quarter revenue growth.

• Revenue growth of 7.4% year-over-year, excluding Otis support, dwarfing inflation rates.

• Net Operating Income (NOI) margin experienced a slight decline of 1.3% from the previous quarter to MXN 5.2 billion.

• FFO decreased by 44.8% or 2% compared to the last quarter, totaling MXN 2,185 million.

Business Progress:

• Achieved post-pandemic recovery with occupancy levels returning to or surpassing pre-pandemic figures across all sectors: industrial, retail, and office spaces.

• Significant efforts and investments in disaster recovery, especially post-hurricane in Acapulco, ensuring quick operational resumption.

• Commitment to Environmental, Social, and Governance (ESG) initiatives, particularly investments in clean energy.

• Industrial space reported double-digit rental growth, highlighting the strength and prestige of Fibra UNO's portfolio.

Opportunities:

• The industrial sector continues to perform robustly with no parallel in the market, indicating continued opportunity for growth and revenue.

• ESG initiatives, particularly in energy savings and clean energy investments, present opportunities for operational improvements and sustainability leadership.

Risks:

• The office sector, while recovering, still faces challenges in achieving pricing power and full occupancy.

• Macroeconomic and geopolitical uncertainties continue to pose risks to operational stability and cost management.

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