Logistic Properties Of The Americas · AMEX:LPA
Logistic Properties Of The Americas — Q1 2025 Earnings Presentation
28 slides from Logistic Properties Of The Americas's earnings presentation, May 15, 2025
Slide 1: Logistic Properties of the Americas First Quarter 2025 Supplemental Information
Logistic Properties of the Americas First Quarter 2025 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 March 31, 2025 7.3 mm sqft 98.0% 81.0% (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) Expan
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 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Portfolio (sq ft) Same Property Portfolio No. of buildings 28 27 27 27 27 Gross
Slide 7: Highlights: Financial Summary
Highlights Financial Summary As of and for the three months ended US$ in millions, except for percentages March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Rental revenues 11.8 11.0 11.2 10.9 10.4 Revenues 11.8 11.1 11.3 11.0 10.5 Cash net operating income (Cash NOI) 9
Slide 8: Condensed Consolidated Interim Statements of Financial Position
Financial Information Condensed Consolidated Interim Statements of Financial Position As of March 31, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 26,956,478 $ 28,827,347 Lease and other receivables, net 3,002,737 2,641,772 Receivables from the sale of investment propert
Slide 9: Statements of Financial Position (continued)
Financial Information Condensed Consolidated Interim Statements of Financial Position (continued) As of March 31, 2025 December 31, 2024 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 10,072,352 $ 8,356,915 Income tax payable 2,817,046 2,764,352 Ret
Slide 10: Condensed Consolidated Interim Statements of Profit or Loss
Financial Information Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income (Loss) Three Months Ended March 31, 2025 2024 REVENUES Rental revenue $ 11,764,775 $ 10,426,249 Other revenue 75,016 57,213 Total revenues 11,839,791 10,483,462 Investment property operat
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, US$ in millions, except for percentages March 31, 2025 June 30, 2024 March 31, 2024 2024 2024 Revenues 11.8 11.1 11.3 11.0 10.5 PRO
Slide 12: Reconciliation (continued)
Financial Information Reconciliation for Adjusted EBITDA, Adjusted EBITDA margin, FFO, AFFO, NOI and NOI margin (continued)(1) For the three months ended December 31, September 30, US$ in millions March 31, 2025 June 30, 2024 March 31, 2024 2024 2024 Net Operating Income Rental revenues 11.8 11.0 11
Slide 13: Total Portfolio GLA
Operations Overview Total Portfolio GLA (in thousands of sq ft) Total Portfolio Development GLA Operating GLA 5,772 5,543 5,288 5,288 5,288 479 421 166 324 545 5,293 5,122 5,122 4,964 4,743 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 By Geography Costa Rica Peru Colombia 2,516 2,516 2,516 2,516 2,516 2,
Slide 14: Operating Portfolio – Period End Occupancy
Operations Overview Operating Portfolio – Period End Occupancy (%) Total Operating Portfolio 98.0 98.3 94.5 94.6 96.7 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 By Geography Costa Rica Peru Colombia 100.0 100.0 100.0 90.0 90.0 98.7 99.4 99.2 99.8 99.1 95.3 94.8 89.9 89.9 87.9 Q1 Q4 Q3 Q2 Q1 Q1 Q4 Q3 Q2
Slide 15: Rental Revenues
Operations Overview Rental Revenues (US$ million) Total Portfolio (for the three months ended) 11.8 11.0 11.2 10.9 10.4 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 By Geography (for the three months ended) Costa Rica Peru Colombia 3.4 3.0 2.9 2.4 2.3 2.3 2.6 2.4 2.1 2.0 6.0 6.2 6.1 6.0 5.7 Q1 Q4 Q3 Q2 Q
Slide 16: Net Operating Income
Operations Overview Net Operating Income (US$ million) Total Portfolio (for the three months ended) NOI Cash NOI 9.4 9.2 8.9 8.9 9.6 9.2 9.2 8.9 9.0 8.7 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 NOI and Cash NOI by Geography (for the three months ended) Costa Rica Peru Colombia 2.3 2.4 2.4 2.1 2.1 5.2
Slide 17: Average Net Effective Rent per Square Foot
Operations Overview Average Net Effective Rent per Square Foot (US$/SqFt/Yr) Total Portfolio 7.96 7.79 7.92 7.87 7.81 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 By Geography Costa Rica Peru Colombia 8.60 8.57 8.72 8.60 8.63 7.58 7.49 7.41 7.38 7.26 7.14 6.55 6.76 6.81 6.77 Q1 Q4 Q3 Q2 Q1 Q1 Q4 Q3 Q2 Q1
Slide 18: Same-Property NOI Growth
Operations Overview Same-Property NOI Growth (% YTD YoY) Total Same-Property Portfolio NOI Cash NOI 20.6% 14.4% 8.8% 9.2% 6.8% 5.0% 1.3% 2.0% (3.0)%(4.3)% Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 By Geography Same-Property NOI Growth (% QTD YoY) Costa Rica Peru Colombia 90.2% 15.2% 6.0% 7.8% 67.2% 9.
Slide 19: Other Non-IFRS Metrics
Financial Overview Other Non-IFRS Metrics (US$ million) Adjusted EBITDA (for the three months ended) 7.7 6.7 6.0 5.8 5.9 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FFO, as defined by LPA (for the three months ended) (0.6) (0.5) (0.9) (2.2) (3.6) Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 19
Slide 20: Customer Concentration and Lease Expiration Analysis
Operations Customer Concentration and Lease Expiration Analysis As of March 31, 2025 Top 10 Customers as % of Net Effective Rent % of Net Total Square Effective Rent Feet Lease Expirations Net Effective Rent 1 Kuehne + Nagel 7.1% 384,777 % of Currency 2 Pequeño Mundo 6.0% 270,572 3 Alicorp 5.6% 335,
Slide 21: Investment Properties Portfolio
Operations Investment Properties Portfolio As of March 31, 2025 US$ in US$ in US$ in millions millions millions Square Feet Net Effective Rent Investment Properties Year to US$ in millions, except for number of No. of Occupied Leased Date Total fair buildings, sq ft, and percentages buildings Total
Slide 22: Stabilized Properties
Capital Deployment Stabilized Properties As of and for the three months ended March 31, 2025 and December 31, 2024 3/31/2025 12/31/2024 Annualized Annualized Est. Estimated Est. Est. Estimated Annualized Return US$ in millions, except for sq ft and Total Occupied Rent Annualized Return Develop. Rent
Slide 23: Development Portfolio
Capital Deployment Development Portfolio As of March 31, 2025 US$ in millions, except for sq ft, percentages and dates 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 T
Slide 24: Land Portfolio
Capital Deployment Land Portfolio As of March 31, 2025 and December 31, 2024 Gross Land Area (Acres) Buildable Area (Sq Ft)(1) FMV FMV/Sq Ft of Gross Land Area US$ in millions, except for sq ft and percentages Q1 2025 Q4 2024 % Change Q1 2025 Q4 2024 % Change Q1 2025 Q4 2024 % Change Q1 2025 Q4 2024
Slide 25: Debt Summary and Metrics
Capitalization Debt Summary and Metrics As of March 31, 2025 Debt Summary Debt Metrics US$ in millions Loans Wtd Avg.Cash Q1 2025 Q4 2024 Maturity Interest Rate Remainder of 2025 $ 7,181,134 6.3% Net debt (US$ in millions) 232.8 231.2 2026 $ 9,781,606 6.2% 2027 $ 10,609,354 6.3% Net debt over invest
Slide 26: 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 27: Definitions
Definitions Return on Cost This is calculated on development properties as Stabilized rental revenue divided by TEI. Discounted Cash Flow Method Same-Property Our Same-Property metrics are non-IFRS financial measures, which are commonly used in the real estate Using this valuation method, future cas
Slide 28: www.lpamericas.com
www.lpamericas.com
Logistic Properties of the Americas — Q1 2025 Earnings Presentation on 6ix