FIBRA Macquarie México (FIBRAMQ 12) Q3 2026 earnings summary

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%.