Plaza (MALLPLAZA) Q2 2026 earnings summary

Executive summary

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

• Strong organic performance with 2.36 million sqm of GLA and 95.8 million visits regionally.

• Leadership transition with Felipe Ramírez appointed as CFO, bringing extensive regional experience.

• Same Store Rent (SSR) grew 5.5%, outpacing regional inflation.

• Adjacent businesses, led by parking and advertising, grew revenues by up to 26.7% year-over-year.

Financial highlights

• Net revenue for Q2 2026 reached CLP 174.1 billion, up 8.7% year-over-year.

• EBITDA grew 9.6% year-over-year to CLP 140.3 billion, with an EBITDA margin of 80.6%.

• Net income attributable to controlling interest (excluding fair value adjustments) was CLP 78.6 billion, impacted by higher inflation indexation expenses.

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

• Tenant sales rose 6.7% year-over-year to CLP 1.69 trillion, with same-store sales up 3.7%.

Outlook and guidance

• Over 50% of the $600 million brownfield investment plan through 2028 is committed to projects under construction.

• Focus on raising Tier A assets to over 70% of total GLA and integrating the Colombian acquisition.

• Continued emphasis on tenant mix transformation, regional integration, and operational efficiency.

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

• Strategic vision aims to secure regional leadership and sustainable value creation.