Parque Arauco (PARAUCO) Q1 2026 earnings summary

Executive summary

• Revenue grew 20.2% year-over-year to Ch$99,508M, with EBITDA up 20.5% and net income attributable to controlling interest up 67.7%.

• Growth was driven by new asset integration, organic revenue growth of 11.1%, and efficient commercial management.

• Consolidated occupancy remained high at 95.4%, with new multifamily projects in the maturation phase.

• Tenant sales increased 15.5% overall, with strong country-level growth: Chile 8.9%, Peru 27.3%, Colombia 16.1%.

• Regional leadership in sustainability reaffirmed, with top rankings in S&P Global and Merco ESG.

Financial highlights

• Consolidated revenue: Ch$99,508M (+20.2% YoY); EBITDA: Ch$70,624M (+20.5% YoY); FFO: Ch$53,439M (+12.0% YoY).

• Net income attributable to controlling interest up 67.7% year-over-year.

• Gross leasable area (GLA) expanded significantly: Chile +13.8%, Peru +16%.

• Country-level EBITDA growth: Chile 20.9%, Peru 20.4%, Colombia 19.6%.

• EBITDA margin: 75.9% (+170bp YoY); net income margin: 41.3% (+930bp YoY); FFO margin: 53.7%.

Outlook and guidance

• Capital increase of CLP 285 billion (~$330 million) underway to support a $1.03 billion investment plan and annual CapEx of ~$300 million.

• Investment plan totals US$1.03B, with US$277M for six new projects.

• 196,130 sqm of GLA to be added, a 7.6% increase, with major openings in 2026–2028.

• Net debt to EBITDA target maintained around 5x.

• Expectation to maintain occupancy cost per category, with rents growing at inflation plus 2%.