Plaza (MALLPLAZA) Q3 2025 earnings summary

Executive summary

• Achieved record results in Q3 2025, with revenue up 37.3%, EBITDA up 42.2%, and net income up 35.7% year-over-year, driven by the consolidation of Peru and strong performance in all markets.

• Total GLA reached 2.34 million m², with 93.2 million visits (+25.9% YoY), and tenant sales grew 23.0% YoY.

• Peru now contributes 27.7% of consolidated EBITDA, reflecting successful integration and expansion.

• Announced a USD 570 million investment plan for further expansion and transformation of assets.

• CEO transition: Fernando de Peña steps down after 35 years, succeeded by Pablo Pulido.

Financial highlights

• Net revenue: CLP 164,099 million (+37.3% YoY); EBITDA: CLP 133,363 million (+42.2% YoY, margin 81.3%).

• Net income: CLP 81,381 million (+35.7% YoY); FFO: CLP 103,018 million (+28.9% YoY).

• Occupancy rate: 95.6%; average monthly sales per m²: CLP 256,740 (+4.3% YoY).

• Same Store Sales up 5.3% and Same Store Rent up 6.4% YoY.

• Parking revenue and non-rental income streams showed strong growth.

Outlook and guidance

• USD 570 million investment plan to expand and transform assets, including new premium outlet formats and major expansions in Chile and Peru.

• Focus on strengthening Tier A assets, omnichannel capabilities, and sustainability initiatives.

• Continued integration and growth in Peru, with further expansion projects planned through 2028.