Plaza (MALLPLAZA) Q2 2026 earnings summary

Executive summary

• Achieved a transformational milestone with the acquisition of eight Gran Plaza shopping centers in Colombia, expanding presence to 10 cities and increasing Colombian assets to 13 and GLA by 64% to over 460,000 sqm.

• Operates 37 urban centers across Chile, Peru, and Colombia, with 2.36 million sqm GLA and 390 million annual visitors as of LTM June 2026.

• Maintains a dominant market position in the Andean region, with a unique portfolio of Tier A assets and a high-value, experience-focused tenant mix.

• Continued execution of a $600 million brownfield investment plan to expand and transform over 1 million sqm of GLA by 2028, with over 50% already allocated.

• Strong sustainability integration, with high ESG ratings, the ESG 2025 Award, and senior-friendly and neurodivergent-inclusive initiatives.

Financial highlights

• LTM June 2026 revenues reached $734 million (+18% YoY), EBITDA $591 million (+20% YoY), and AFFO $455 million (+22% YoY).

• Net revenue for Q2 2026 reached CLP 174.1 billion, up 8.7% year-over-year; EBITDA grew 9.6% to CLP 140.3 billion, with an EBITDA margin of 80.6%.

• Net income attributable to owners was CLP 1,258,053 million for LTM 2Q26, up 70% CAGR since 2022.

• Tenant sales grew 10% YoY to CLP 6,919 billion; same-store sales up 3.7%; footfall increased 1.3% YoY to 390 million.

• Adjusted FFO per share increased 8.8%, with financial expenses reduced by 8.7%.

Outlook and guidance

• Plans to deliver 225,000 sqm of new GLA over the next three years through organic and inorganic growth, with over 88,000 sqm under construction.

• Focus on raising Tier A assets to over 70% of total GLA and continued portfolio transformation.

• Residential densification and adjacent business growth (e.g., parking, media) to diversify revenue streams.

• Expectation of further growth in the Andean region, both organically and through potential future M&A.