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1Q22 represents continued recovery in FDAHNOS metrics



After reporting revenues in excess of 1.3 billion pesos, FIBRA DAHNOS released its results for the first quarter of 2022 on April 27th.


The results summary, published before the Bolsa Mexicana de Valores, shows the financial and real estate results, where Net Operating Income (NOI) reached 1.05 billion pesos, Funds From Operations (FFO) reached 863 million pesos, and EBITDA reached 841 million pesos.


With more than 890 thousand square meters of gross leasable area (GLA), the trust reports a 93% occupancy rate; however, there is a difference of 7.8 percentage points between this metric and the occupancy rate recorded in total properties (85.2%), due to the commercialization of spaces that have not yet stabilized, such as Parque Las Antenas and Parque Puebla, among others.


The FIBRA's debt remains at more than 5.58 billion pesos, with a leverage level (LTV) of 8.7%. Likewise, an amendment agreement was made to the committed and revolving credit line, extending it until 2026, in the amount of 2,000 million pesos, which is intended to become a "green" line, through various commitments and conditions that are aligned with the current ESG strategy (environmental, social and governance), and is expected to improve the financial margin.


Regarding the development plan, Parque Tepeyac is the most relevant property this year, as it is expected to open during the second half of the year. With a 50% participation by the trust, and a GLA of 51,700 m2, the shopping center is 80.5% complete, and its commercialization is progressing steadily, with Liverpool, Sears and Cinépolis as the main tenants.


Finally, regarding the fiscal results related to the first quarter, the trust will be distributing 0.58 pesos per certificate (CBFI), which represents 102.6% of FFO (per CBFI), equivalent to a total of 862.7 million pesos, and will be paid on May 10 of this year.


Get the most detailed information about the properties, as well as stock market, financial and real estate metrics, of FIBRA DAHNOS and other trusts, in FIBRA Analytics, one of the solutions developed by SiiLA: https://www.siilamexico.blog/fibra-analytics