Parque Arauco (PARAUCO) Q1 2026 earnings summary

Executive summary

• Q1 revenue rose 20.2% to Ch$99,508M, EBITDA increased 20.5% and net income attributable to controlling interest climbed 67.7%.

• Growth reflected new asset integration, 11.1% organic revenue growth and efficient commercial management.

• Shareholders approved a Ch$285B (~US$330M) capital increase to support a US$1.03B investment plan, including six new projects.

• Portfolio comprised 59 assets and 1,340,500 sqm of GLA across Chile, Peru and Colombia; LTM 1Q26 tenant sales totaled CLP 3,706bn.

• Recognized for sustainability leadership by S&P Global and Merco ESG; organizational restructuring aimed to enhance agility and efficiency.

Financial highlights

• Q1 revenue was Ch$99,508M (+20.2% YoY), EBITDA Ch$70,624M (+20.5%) and FFO Ch$53,439M (+12.0%); Adjusted FFO rose 58.4%.

• Net profit was Ch$41,102M (+55.1%); net income attributable to controlling interest was Ch$31,104M (+67.7%).

• Q1 tenant sales reached Ch$883,074M (+15.5%); occupancy cost was 10.3%, down 0.4 percentage points YoY.

• LTM 1Q26 tenant sales grew 17.2%, revenue 22.6%, EBITDA 20.5% and FFO 14.0% YoY.

• EBITDA margin was 75.9%, up 170 basis points YoY; net income margin was 41.3% and FFO margin 53.7%.

Outlook and guidance

• Development pipeline totals US$1,033M, with US$415M remaining investment and 196,130 sqm of GLA under development; annual CapEx target is US$250–300M.

• Planned additions of 196,130 sqm represent 7.6% growth in GLA, with major openings scheduled for 2026–2028.

• Arauco Chicureo, with 40,000 sqm of GLA, is scheduled to open in 2026; anchor stores are planned for 2H26 and other spaces from 2027.

• Projects include a planned 20,000-sqm expansion at Parque La Colina for 2030 and a 504-unit MegaPlaza Independencia mixed-use project for 2029.

• Non-rental revenues, particularly parking and retail media, are expected to grow; Chilean leasing spreads are expected to rise at inflation plus 2%.