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FIBRA Macquarie México (FIBRAMQ 12) investor relations material
FIBRA Macquarie México Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
3Q26 consolidated revenue was a record US$75.5m, up 6.9% YoY; NOI excluding SLR was a record US$62.4m, up 5.2%.
Proportionately combined revenue was Ps. 1,300.5m, down 2.0% YoY; NOI excluding SLR was Ps. 1,076.0m, down 2.7%.
AFFO was Ps. 495.2m and Ps. 0.6211 per certificate, both down 10.6% YoY; industrial and retail rents rose 5.6% and 3.8%.
Financial highlights
Consolidated EBITDA was a record US$55.8m, up 3.0% YoY; FFO was US$37.2m, down 1.7%, and adjusted FFO was US$28.7m, down 3.4%.
Proportionately combined EBITDA was Ps. 963.0m, down 4.8% YoY; FFO was Ps. 641.5m, down 9.0%.
IFRS profit was Ps. 888.6m versus a Ps. 762.4m loss a year earlier; consolidated profit was Ps. 914.4m versus a Ps. 763.8m loss.
Consolidated profit included unrealized foreign-exchange gains on investment properties and unrealized interest-rate-swap gains.
Outlook and guidance
FY26 cash distribution guidance remained Ps. 2.45 per certificate, subject to manager approval, market conditions and prudent capital management.
Regular monthly distributions began in September 2026 under a more flexible framework allowing quarterly or monthly payments at the manager’s discretion.
239k sqft of industrial GLA was under construction in Tijuana: TIJ101, 209k sqft, targeted for FY27; TIJ002 expansion, 30k sqft, targeted for FY26.
Development land bank totaled 302.3 hectares, with 8.237m sqft additional potential GLA and 11.132m sqft total potential GLA; projected development yields were 9%–11%.
- Record revenues and NOI, 92.5% occupancy, and AFFO per certificate declined 12.9%.FIBRAMQ 12
Q2 2026 - Record revenue, NOI, and high occupancy support robust outlook amid major expansion.FIBRAMQ 12
Q2 2024 - Record NOI, raised AFFO guidance, and strong leasing drive robust quarterly results.FIBRAMQ 12
Q3 2024 - Record AFFO and NOI growth, strong leasing, and robust FY25 guidance highlight sustained momentum.FIBRAMQ 12
Q4 2024 - Record NOI and AFFO growth, strong leasing spreads, and stable outlook amid macro uncertainty.FIBRAMQ 12
Q1 2025 - Record AFFO and NOI, high occupancy, and new Tijuana JV, despite FX-driven net loss.FIBRAMQ 12
Q2 2025 - Record revenues, AFFO, and NOI growth with 94.7% occupancy and strong liquidity.FIBRAMQ 12
Q3 2025 - Record AFFO growth, high occupancy, and robust leasing spreads support a positive FY26 outlook.FIBRAMQ 12
Q4 2025 - Record EBITDA and FFO growth, high occupancy, and major Tijuana land acquisition mark the quarter.FIBRAMQ 12
Q1 2026
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