Fibra Mty S A P I (FMTY 14) Q3 2025 earnings summary

Executive summary

• Stock price increased nearly 30% year-to-date, trading at 13x AFFO, reflecting strong fundamentals and market optimism.

• Achieved strong operational growth with 15.6% YoY revenue increase, driven by industrial acquisitions and expansions.

• Completed acquisition of two industrial buildings and land for expansion, and finalized the sale of Fortaleza office property as part of portfolio rationalization.

• Portfolio reached 119 properties with 2,055,827 m² GLA and 96.0% occupancy.

• Achieved significant ESG milestones, with a 19% YoY GRESB score increase and 94th percentile in S&P Global Corporate Sustainability Assessment.

Financial highlights

• 3Q25 revenue: Ps. 839.4 million, up 15.6% YoY; NOI: Ps. 770.2 million, up 17.4% YoY; Adjusted EBITDA: Ps. 709.4 million, up 17.0% YoY.

• AFFO: Ps. 615.1 million, down 7.6% YoY, mainly due to lower interest rates on cash investments.

• NOI margin at 91.8% and EBITDA margin at 84.5% for the last twelve months.

• Distributions grew 4% YoY, supported by sequential expansion in NOI and EBITDA margin.

• Net consolidated loss of Ps. (498.4) million, mainly due to fair value and FX impacts.

Outlook and guidance

• Acquisitions pipeline exceeds US$500 million, with US$120 million in advanced negotiations.

• Expect to finalize $120 million in acquisitions by year-end, with a pipeline exceeding $500 million.

• Anticipate being 85–90% industrial by end of 2026, aiming for 100% industrial portfolio by 2027.

• Expansion projects expected to yield above 9.5% on cost, with US $88.3M signed and under construction or delivered.

• On track to close the year near the upper end of guidance.