Fibra Mty · BIVA:FMTY/14
Fibra Mty — Q2 2023 Earnings Presentation
17 slides from Fibra Mty's earnings presentation, July 2023
Slide 1: 2Q23 Quarterly Results Update
Sistema de 2Q23 Quarterly Results Entrenamiento en Update Ciberseguridad Trust F/2157 – FMTY14 July, 2023
Slide 2: 2Q23 Highlights
2Q23 Highlights • Three months after the acquisition of Zeus, the second largest industrial transaction in Mexico in the past three decades, Fibra Mty has fully consolidated the operations of the acquired properties. • Captured economies of scale posts an all-time high EBITDA margin of 85% and the h
Slide 3: High Quality Portfolio
High Quality Portfolio Geographical distribution as of June 30, 2023 Sonora Ciudad Juárez 2 buildings 1 building 15 29,379 m2 4,520 m2 Saltillo 100.0% 93.4% 10 buildings 136,195 m2 97.6% Tamaulipas markets Monterrey 2 building Tijuana 39 buildings 91,166 m2 103 8 buildings (1) Chihuahua 663,557 m2 1
Slide 4: Key Performance Indicators (as % of revenue)
Key Performance Indicators (as % of revenue) As of June 30, 2023 Asset Class Location Occupancy Currency 1.6% 8.0% 14.4% 17.3% 27.1% 5.2% 42.0% 5.3% 5.9% 6.1% 71.3% 6.5% 82.7% 14.6% 92.0% Nuevo León Jalisco Guanajuato Coahuila Baja California Norte Aguascalientes Industrial Office Retail Leased Vaca
Slide 5: Operational efficiency and accretive acquisitions
Operational efficiency and accretive acquisitions Same-properties performance Thousands of Pesos 2Q 2023 2Q 2022 Δ% / pbs Number of Properties (1) 60 60 - Gross Leasable Area (GLA) in square meters 821,628 818,864 0.3%* Occupancy Rate (per GLA) 92.2% 91.7% 50 pbs Same-Property Revenues 356,001 373,8
Slide 6: Property performance 2Q23 vs 2Q22
Property performance 2Q23 vs 2Q22 230.5 541.6 91.3% 332.7 27.8 15.8 5.9 3.7 311.1 89.0% 87.4% Same-property NOI FX Variations Vacancies Other Inflation Adjustments NOI 1T23 M.I. Adq NOI 1T23 2Q22 . + New Leases 6 fibramty.com
Slide 7: Signed and undergoing Industrial expansions
Signed and undergoing Industrial expansions US$ millions Estimated Signing Estimated Investment Estimated Ann. Delivery Property Location Size revenue Date Investment as of 1Q23 NOI Date start Fagor San Luis Potosi Feb-23 ~6,700 3.2 2.2 0.3 3Q23 2Q23 Danfoss Monterrey Apr-23 ~19,000 17.0 0.1 1.8 4Q2
Slide 8: Zeus transition into Fibra Mty's portfolio
Zeus transition into Fibra Mty’s portfolio • 100% invoicing with a 91% of Rent Collection • Smooth integration of operational processes • Already in process of negotiating early renewals and expansions • Landbank currently being marketed with positive perspective 8 fibramty.com
Slide 9: Economies of scale and all-time high EBITDA margin of 85%
Fibra Mty achieves economies of scale and posts all-time high EBITDA margin of 85% Industrial Corporate cost Revenue 20% 36% 42% 47% 48% 50% 51% 50% 71% has decreased Share between 70 and 95.0% 1.6% 80 bps since 1.5% 90.2% 91.2% 91.3% 2015 90.0% 1.4% 90.0% 88.5% 1.3% 88.3% 88.3% 86.5% 87.1% 1.2% 85.
Slide 10: Savings in weighted average cost of capital after reaching investment grade
Savings in weighted average cost of capital starting to materialize after reaching investment grade Syndicated Loan Debt maturity profile Bilateral BBVA Change 2021 Notional US$ 150 Million - US$150 million maturity extended ~1 year Warranty Unsecured - Maturity 5 years - Reference Rate SOFR 1M - SO
Slide 11: Solid Balance Sheet and financial flexibility
Solid Balance Sheet and financial flexibility Type of debt Type of rate Type of currency 25.7% Loan To Value 7.3% Cash / Assets 100.0% 100.0% 100.0% 16.6% Available Credit Lines /Assets Secured Unsecured Floating rate Fixed rate MXN USD 2.5x Debt maturity profile (2) Net Debt to EBITDA (1) 4.8% 4.8%
Slide 12: 2Q23 Cash Flow Results
2Q23 Cash Flow Results AFFO per CBFI 2Q23 constraints: Temporary high-interest expenses given Zeus acquisition: • Revolving credit lines with higher interest rate, particularly the USD 80 million revolver, was held during the quarter. Acquisition cap rate vs short term interest rates: • Cash held in
Slide 13: 2Q23 Cash Flow Results vs 2Q22
2Q23 Cash Flow Results vs 2Q22 Main Variations vs 2Q22 AFFO: The main driver was the Zeus Portfolio acquired on March 29, 2023. Partially offset by: 1. Same-property NOI which mainly had an unfavorable FX rate effect in revenues (partially offset by Inflation increases in revenue due to lease contra
Slide 14: 2Q23 Cash Flow Results vs 1Q23
2Q23 Cash Flow Results vs 1Q23 Main Variations vs 1Q23 AFFO: The main driver was the 3-month operation of the Zeus Portfolio in 2Q23 vs the 3-day operation in 1Q23. Partially offset by: 1. Same-property NOI had an unfavorable FX rate effect in revenues (partially offset by Inflation increases in rev
Slide 15: Growth potential given current nearshoring tailwinds
Growth potential given current nearshoring tailwinds Fibra Mty has the strongest revenue Nearshoring exposure in markets leading nearshoring presence Permits Multinational tenants with USD High Quality denominated revenue within defensive industries at high Tenants growth markets. Non-speculative Hi
Slide 16: Selected Financial Information
Selected Financial Information Thousands of Pesos Δ% Δ% 2Q23 1Q23 4Q22 3Q22 2Q22 2Q23 vs 2Q22 2Q23 vs 1Q23 (except figures per CBFI) Gross Income 593,423 372,588 376,966 375,103 373,826 58.7% 59.3% Properties Expenses (51,785) (42,025) (50,357) (48,861) (41,072) 26.1% 23.2% (net from Capex as Opex)
Slide 17: Contact
Sistema de Entrenamiento en Ciberseguridad Contact: Cesar Rubalcava, CFA, CAIA Investor Relations [email protected]