Logistic Properties Of The Americas · AMEX:LPA
Logistic Properties Of The Americas — Q4 2024 Earnings Presentation
27 slides from Logistic Properties Of The Americas's earnings presentation, Apr 3, 2025
Slide 1: Logistic Properties of the Americas Fourth Quarter 2024 Supplemental Information
Logistic Properties of the Americas Fourth Quarter 2024 Supplemental Information LPA Parque Logístico Calle 80 – Bogota, Colombia
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) is provided for informational purposes only and has been prepared to provide interested parties with certain Commission (the “SEC”). There may be additional risks that LPA does not presently know or that LPA currently believes are immaterial that inf
Slide 3: Leading developer, owner, acquirer and manager of logistic real estate
Logistic Properties of the Americas is a leading developer, owner, acquirer and manager of logistic and industrial real estate of international quality in Central and South America. LPA is one of the few, internally managed, vertically-integrated and institutional platforms operating across the regi
Slide 4: Content
Content Highlights • Company Profile 5 • Company Performance 6 • Financial Summary 7 Financial Information • Condensed Consolidated Interim Balance Sheet 8 • Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income (Loss) 10 • Reconciliation for Adjusted EBITDA, Adju
Slide 5: Highlights: Company Profile
Highlights Company Profile As of December 31, 2024 7.3 mm sqft 98.3% 80.5% (1) Example Properties Gross Leasable Area Occupancy (2) US dollars-denominated Leases(3) SAN JOSE, COSTA RICA Current Operations Logistic Park Operating Development Land Reserves Coyol I, (6) GLA (sqft) GLA (sqft) (acres) Ex
Slide 6: Highlights: Company Performance
Highlights Company Performance As of and for the three months ended US$ in millions, except for number of buildings, sq ft, and percentages December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 Portfolio (sq ft) Same Property Portfolio No. of buildings 27 27 27 27 20 Gr
Slide 7: Highlights: Financial Summary
Highlights Financial Summary As of and for the three months ended US$ in millions, except for percentages December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 Rental revenues 11.0 11.2 10.9 10.4 11.5 Revenues 11.1 11.3 11.0 10.5 11.6 Cash net operating income (Cash NOI
Slide 8: Consolidated Statements of Financial Position
Financial Information Consolidated Statements of Financial Position As of December 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 28,827,347 $ 35,242,363 Due from affiliates — 9,463,164 Lease and other receivables, net 2,641,772 3,557,988 Receivables from the sale of i
Slide 9: Consolidated Statements of Financial Position (continued)
Financial Information Consolidated Statements of Financial Position (continued) As of December 31, 2024 December 31, 2023 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 8,356,915 $ 13,127,502 Income tax payable 2,764,352 2,024,865 Retainage payable
Slide 10: Consolidated Statements of Profit or Loss and Other Comprehensive Income
Financial Information Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss) For the Year Ended December 31, 2024 2023 2022 REVENUES Rental revenue $ 43,581,348 $ 39,327,779 $ 31,890,569 Other revenue 281,024 108,564 92,998 Total revenues 43,862,372 39,436,343 31,983,567 Inv
Slide 11: Reconciliation for Adjusted EBITDA, FFO, AFFO, NOI
Financial Information Reconciliation for Adjusted EBITDA, Adjusted EBITDA margin, FFO, AFFO, NOI and NOI margin(1) For the three months ended December 31, September 30, December 31, US$ in millions, except for percentages June 30, 2024 March 31, 2024 2024 2024 2023 Revenues 11.1 11.3 11.0 10.5 10.2
Slide 12: Reconciliation for Adjusted EBITDA, FFO, AFFO, NOI (continued)
Financial Information Reconciliation for Adjusted EBITDA, Adjusted EBITDA margin, FFO, AFFO, NOI and NOI margin (continued)(1) For the three months ended September 30, December 31, US$ in millions December 31, 2024 June 30, 2024 March 31, 2024 2024 2023 Net Operating Income Rental revenues 11.0 11.2
Slide 13: Total Portfolio GLA
Operations Overview Total Portfolio GLA (in thousands of sq ft) Total Portfolio Development GLA Operating GLA 5,543 5,288 5,288 5,288 5,288 421 166 324 547 668 5,122 5,122 4,964 4,741 4,620 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 By Geography Costa Rica Peru Colombia 2,516 2,516 2,516 2,516 2,516 1,
Slide 14: Operating Portfolio – Period End Occupancy
Operations Overview Operating Portfolio – Period End Occupancy (%) Total Operating Portfolio 98.3 94.5 94.6 96.7 100.0 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 By Geography Costa Rica Peru Colombia 100.0 100.0 100.0 100.0 90.0 90.0 99.4 99.2 99.8 99.1 100.0 94.8 89.9 89.9 87.9 Q4 Q3 Q2 Q1 Q4 Q4 Q3 Q2
Slide 15: Rental Revenues
Operations Overview Rental Revenues (US$ million) Total Portfolio (for the three months ended) 11.0 11.2 10.9 11.5 10.4 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 By Geography (for the three months ended) Costa Rica Peru Colombia 7.3 3.0 2.9 2.3 2.3 2.6 2.4 2.1 2.0 2.0 6.2 6.1 6.0 5.7 2.2 Q4 Q3 Q2 Q1 Q
Slide 16: Net Operating Income
Operations Overview Net Operating Income (US$ million) Total Portfolio (for the three months ended) NOI Cash NOI 9.6 10.4 10.7 8.9 8.9 9.2 9.2 8.7 8.9 9.0 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 NOI and Cash NOI by Geography (for the three months ended) Costa Rica Peru Colombia 2.4 2.4 2.12.1 2.1 2.
Slide 17: Average Rent per Square Foot
Operations Overview Average Rent per Square Foot (US$/SqFt/Yr) Total Portfolio 7.79 7.92 7.87 7.93 7.80 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 By Geography Costa Rica Peru Colombia 8.57 8.72 8.60 8.58 8.54 8.07 7.49 7.41 7.38 7.26 6.81 6.55 6.76 6.62 5.70 Q4 Q3 Q2 Q1 Q4 Q4 Q3 Q2 Q1 Q4 Q4 Q3 Q2 Q1 Q
Slide 18: Same-Property NOI Growth
Operations Overview Same-Property NOI Growth (% YoY) Total Same-Property Portfolio NOI Cash NOI 20.6% 14.2% 8.5% 6.8% 7.0% 5.0% 1.3% 1.3% (0.1)% (2.6)% Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 By Geography Costa Rica Peru Colombia 90.2% 21.1% 67.2% 15.2% 6.0% 7.8% 11.4% 3.0% 9.3% 40.5% 7.4% 36.0% 4.0
Slide 19: Other Non-IFRS Metrics
Financial Overview Other Non-IFRS Metrics (US$ million) Adjusted EBITDA (for the three months ended) 7.6 6.8 6.0 5.8 5.9 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 FFO, as defined by LPA (for the three months ended) 1.0 (0.5) (0.9) (2.2) (3.6) Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 19
Slide 20: Customer Concentration and Lease Expiration Analysis
Operations Customer Concentration and Lease Expiration Analysis As of December 31, 2024 Top 10 Customers as % of Net Effective Rent % of Net Total Square Effective Rent Feet Lease Expirations 1 Kuehne + Nagel 7.5% 384,777 Net Effective Rent 2 Alicorp 6.5% 335,812 % of Currency 3 Pequeño Mundo 5.3% 2
Slide 21: Investment Properties Portfolio
Operations Investment Properties Portfolio As of December 31, 2024 US$ in US$ in US$ in millions millions millions Square Feet Net Effective Rent Investment Properties Q4 quarter to Year to No. of Occupied Leased date Date Total fair buildings Total % of Total % % NOI NOI Annualized Sqft / Year mark
Slide 22: Development Portfolio
Capital Deployment Development Portfolio As of December 31, 2024 US in millions TEI Invested to Date Annualized Est. estimated Annualized Est. Est. Occupied Leased Land + Land + Stabilization Rent estimated Return on Develop. Project Sq Ft % % FMV Infra Shell Total Infra Shell Total Date Revenues NO
Slide 23: Land Portfolio
Capital Deployment Land Portfolio As of December 31, 2024 and 2023 Gross Land Area (Acres) Buildable Area (Sq Ft)(1) FMV FMV/Sq Ft of Gross Land Area US$ in millions Q4 2024 Q4 2023 % Change Q4 2024 Q4 2023 % Change Q4 2024 Q4 2023 % Change Q4 2024 Q4 2023 % Change Peru(2) 30.9 40.5 (23.7%) 670,322
Slide 24: Debt Summary and Metrics
Capitalization Debt Summary and Metrics As of December 31, 2024 Debt Summary Debt Metrics US$ in millions 2024 Loans Wtd Avg.Cash Fourth Third Maturity Interest Rate Quarter Quarter 2025 $ 12,636,821 7.2% 2026 $ 9,410,670 6.7% Net debt (US$ in millions) 231.2 233.7 2027 $ 10,163,420 6.6% 2028 $ 10,9
Slide 25: Definitions
Definitions Please refer to LPA financial statements as prepared in accordance with International Financial Reporting Standards Estimated Build Out (TEI and sq ft) This metric represents the estimated TEI and finished square feet available for lease (“IFRS”) as issued by the International Accounting
Slide 26: Definitions
Definitions Operating Portfolio This includes stabilized industrial properties. Assets held for sale are excluded from the portfolio. Discounted Cash Flow Method Return on Cost This is calculated on development properties as Stabilized rental revenue divided by TEI. Using this valuation method, futu
Slide 27: www.lpamericas.com
www.lpamericas.com
Logistic Properties of the Americas — Q4 2024 Earnings Presentation on 6ix