Corporacion Inmobiliaria Vesta S.a.b. De C.v. · BMV:VESTA
Corporacion Inmobiliaria Vesta S.a.b. De C.v — Corporacion Inmobiliaria Vesta, S.A.B de C.V. American Depositary Shares, each representing ten (10) Common Shares — Q2 2025 Earnings Presentation
19 slides from Corporacion Inmobiliaria Vesta S.a.b. De C.v's earnings presentation, Jul 25, 2025
Slide 1: Supplemental Information Q2 2025
p p p p 1302628 SUPPLEMENTAL INFORMATION Q2 2025 USA: VTMX MEX: VESTA www.vesta.com.mx
Slide 2: Cautionary Statements Q2 2025
Cautionary Statements Q2 2025 This presentation is strictly confidential, It has not been independently verified and is being furnished to you solely for your information. It may not be reproduced or redistributed to any other person, and it may not be published, in whole or in part, for any purpose
Slide 3: Table of Contents Q2 2025
Table of Contents Q2 2025 Cautionary Statements 1 Table of Contents 2 Highlights 3 Financial Summary 4 Balance Sheet 5 Consolidated Statement of Operations 6 Reconciliation of FFO 7 New portfolio metrics definitions 8 Historical portfolio metrics 9 Stabilized portfolio 10 Portfolio Operating Metrics
Slide 4: Company Profile Q2 2025
Company Profile Q2 2025 Vesta is a leading Mexican provider of modern Industrial Real Estate. Our US$ 3.86 billion property portfolio encompasses 43.1 million1 square feet of manufacturing and logistics facilities across Northern, Bajio and Central Mexico. North Region Bajio Region Central Region To
Slide 5: Financial Summary Q2 2025
Financial Summary Q2 2025 All numbers express in US$ Company Profile Q2 2025 Q2 2024 6M 2025 6M 2024 Market capitalization (Ps.) $43,629,144,753 $47,844,870,277 $43,629,144,753 $47,844,870,277 Float @ Jun 30 846,017,932 874,198,251 846,017,932 874,198,251 Share price (Ps.) $51.57 $54.73 $51.57 $54.7
Slide 6: Balance Sheet Q2 2025
Balance Sheet Q2 2025 All numbers express in US$ ASSETS As of June 30, 2025 As of December 31, 2024 Current assets: Cash and cash equivalents 65,239,102 184,120,894 Financial assets held for trading - - Recoverable Taxes 59,606,069 52,832,645 Operating lease receivables 6,146,796 4,681,020 Prepaid e
Slide 7: Consolidated Statement of Operations Q2 2025
Consolidated Statement of Operations Q2 2025 All numbers express in US$ Q2 2025 Q2 2024 %Change 6M 2025 6M 2024 %Change Revenues: Rental income 62,239,443 57,668,018 122,811,628 113,478,210 Reimbursable building services 3,167,518 3,309,085 7,457,902 6,830,343 Energy Income 1,867,173 2,037,764 4,043
Slide 8: Reconciliation Of Profit For The Period To FFO Q2 2025
Reconciliation Of Profit For The Period To FFO Q2 2025 All numbers express in US$ Q2 2025 Q2 2024 %Change 6M 2025 6M 2024 %Change Reconciliation of profit for the period to FFO Profit for the period $27,719,313 $109,304,069 $42,640,071 $234,173,128 Gain /Loss on Revaluation of Operations (7,814,557)
Slide 9: Portfolio metrics definitions Q2 2025
Portfolio metrics definitions Q2 2025 A Better Gauge: U.S. REITs report occupancy using three primary methods, 1. total portfolio occupancy, 2. operating (stabilized) portfolio occupancy, and 3.same store portfolio occupancy. Most U.S. REITs emphasize stabilized and same store portfolio metrics and
Slide 10: Historical portfolio metrics Q2 2025
Historical portfolio metrics Q2 2025 All numbers shown in SF 19 20 21 22 24 26 Total Portfolio Total Portfolio % Occupancy Period Initial GLA Additions Final GLA % Occupancy Vacancy 1302628 95.0% ## Q3 2023 34,557,186 * 2,348,774 36,905,960 92.5% 2,777,029 93.4% 94.0% 93.9% 93.4% 92.8% 95.00% 92.5%
Slide 11: Stabilized Portfolio Q2 2025
Stabilized Portfolio Q2 2025 According to new stabilized portfolio metric, Lease Up properties are those not stabilized. A property is considered stabilized once it has reached a 80% occupancy or has been delivered for more than one year. Lease up Properties No Buildings Market Square Feet % of leas
Slide 12: Portfolio Operating Metrics Q2 2025
Portfolio Operating Metrics Q2 2025 Same Stores Portfolio Stabilized Portfolio Total Portfolio Region Square Footage Occupancy Square Footage Occupancy Square Footage Occupancy Total Rental Revenue US$ Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2
Slide 13: Land Bank Q2 2025
Land Bank Q2 2025 Gross Land Area (Acres) Buildable Area (thousand SF) Market Value (thousands USD) Market Value USD/SF Q1 2025 Q2 2025 % Change Q1 2025 Q2 2025 % Change Q1 2025 Q2 2025 % Change Q1 2025 Q2 2025 % Change 3 North Tijuana 88.3 91.9 4.1% 1,731.2 1,802.4 4.1% 10,272 10,272 0.0% $2.67 $2.
Slide 14: Development Portfolio Q2 2025
Development Portfolio Q2 2025 Proforma Est. Return Total Expected Investment Invested To Date Project GLA (SF) % Leased Completion Date Revenue on Cost Type (Thousand USD) (Thousand USD) (1) (2) (Thousand USD) Land+Infra Shell Total Land+Infra Shell Total North Region Monterrey Apodaca 8 730,762 $21
Slide 15: Top Tenants Q2 2025
Top Tenants Q2 2025 Top Tenants Rank Name % of GLA Square Feet %Annual Rent Industry Lease Expiration 1 Mercado Libre 5.7% 2,386,762 2.7% E-commerce 2 Nestle 4.3% 1,795,956 4.2% Food and Beverage 3 Safran 3.3% 1,373,226 3.6% Aerospace 4 Foxconn 3.3% 1,364,961 3.5% Electronics 5 TPI 2.9% 1,225,624 3.
Slide 16: Net Asset Value vs Market Value Analysis Q2 2025
Net Asset Value vs Market Value Analysis Q2 2025 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q25 2Q25 Market Price Per Share (US$) 1.68 1.74 1.99 1.53 1.27 1.23 1.36 1.80 1.94 2.00 2.40 3.99 2.63 2.30 2.73 NAV Per Share (US$) 1.47 1.75 1.81 1.83 1.79 2.02 2.12 2.33 2.44 2.59 2.
Slide 17: Leasing Activity Q2 2025
Leasing Activity Q2 2025 Leasing Activity Q3 2024 Q4 2024 Q1 2025 Q2 2025 (Thousand SF) Leasing 477 639 44 344 Releasing - 100 95 67 Renewal 787 813 1,299 1,399 Total Leasing Activity 1,264 1,552 1,438 1,809 Renewal Releasing Total Spread TTM (Thousand SF) (Thousand SF) (Thousand SF) Q3 2024 787 - 7
Slide 18: Analyst Coverage
Analyst Coverage Analyst Q4 2023 Q2 2025 Bank Analyst Date Price Opinion Actinver Antonio Hernandez 09/07/2025 $63.00 Buy Barclays Pablo Monsivais 23/04/2025 $69.00 Buy BBVA Francisco Chavez 24/04/2025 $62.20 Buy BOFA Carlos Peyrelongue 29/05/2025 $65.00 Buy Bradesco Rodolfo Ramos 24/04/2025 $60.00
Slide 19: Definitions Q2 2025
Definitions Q2 2025 "Inventory buildings" are buildings that are built in accordance with standard industry specifications, for the purpose of having sufficient space available for clients that do not have the time or interest to build a BTS Building. “Same-Store Properties” means properties that we