Parque Arauco (PARAUCO) Q3 2026 earnings summary

Executive summary

• 3Q26 revenue rose 18.6% YoY to Ch$112,938M and EBITDA increased 17.3% to Ch$80,881M; like-for-like EBITDA growth, excluding FX and new assets, was 11.6%.

• Controlling net income advanced 30.3% to Ch$34,705M; FFO grew 20.2% to Ch$61,786M and adjusted FFO rose 26.4% to Ch$54,063M.

• Consolidated occupancy was 94.4%, down 126 bps YoY, while tenant sales increased 7.6% to Ch$928,977M.

Financial highlights

• Revenue increased 18.6% YoY; rental revenue rose 18.7% and non-rental revenue 18.2%.

• EBITDA reached Ch$80,881M, up 17.3%; reported EBITDA margin fell 81 bps to 71.6%, while adjusted EBITDA margin, excluding simplified-rent effects, rose 140 bps to 77.5%.

• Net income was Ch$46,543M, up 30.7%; income attributable to controlling interest rose 30.3% to Ch$34,705M.

• FFO increased 20.2% to Ch$61,786M; adjusted FFO rose 26.4% to Ch$54,063M, supported by lower indexed-assets-and-liabilities expense.

Outlook and guidance

• The investment pipeline totals US$953M; planned projects are expected to add 238,130 sqm, increasing GLA by 17.8% from 1,339,000 sqm to 1,577,130 sqm.

• Arauco Chicureo, adding 40,000 sqm, was on track for anchor-store openings in 4Q26; the Parque Arauco Kennedy office tower is expected to open in 2027.

• Mall Curicó expansion is scheduled to start construction in 1Q27, with opening anticipated in 2H28; planned investment is UF 1,200,000 for about 11,000 sqm of retail area.

• The 4Q26 consolidation of Mall Paseo Quilín will add an asset with close to 47,000 sqm of GLA; the purchase was valued at UF 2,650,000, or approximately US$114M.