Acosta Verde Sab De Cv Class A · BMV:GAV/A
Acosta Verde Sab De Cv Class A — Investor Presentation (2024)
23 slides from Acosta Verde Sab De Cv Class A's investor presentation, 2024
Slide 1: Investors’ Presentation 2023
Investors’ Presentation 2023
Slide 2: Who are we?
Who are we? Thanks to our locations and the business model focused on meeting the needs of consumption, services, entertainment, and socializing of our visitors, in 2023 we had over 106 million visitors to our properties. Acosta Verde is a Mexican development company dedicated to the construction, m
Slide 3: Our History defines us
2011 Our History We concluded the joint venture with PREI, defines us continuing to manage their shopping centers until 2015. 2014 We developed three shopping centers for third parties. 1970 2015 Architect Jesus Acosta Verde founded Acosta Verde. We closed the second issuance of $3 billion MXN in ce
Slide 4: Our portfolio benefits from nearshoring
Our portfolio benefits from nearshoring With our locations in the country’s central and northern regions, we cater to the population segment focused on the manufacturing and service industries Northeast Northwest Center North Center Total #Shopping Centers: 6 # Shopping Centers: 8 # Shopping Centers
Slide 5: Our shopping centers are high quality
Our shopping centers are high quality Affluence 2023 % AV’s Opening Number of Property Main Anchors GLA (sqm) Occupancy (Millions of co-ownership % AV2 Year Premises visitors) share1 Sendero Escobedo 2002 Soriana, Cinépolis 243 15,477 98% 6.9 33% 100% Sendero Las Torres 2003 Soriana, C
Slide 6: Our tenants make us stronger
Our tenants make us stronger We have developed strong synergies with national chains that have accompanied Acosta Verde in the growth of its operations for the past 20 years. Additionally, we support local and innovative commerce, seeking to keep the stores’ offering always up to date for our visito
Slide 7: Tenant mix and top tenants by GLA
17% Food & Beverage 5% Telephony GLA Distribution Top 10 Number of % of total GLA (sqm) 17% Clothing and 5% Tenants leases GLA % Base rent footwear Accesories 16 67,933 16.4% 15% Entertainment 4% Self-service 5 16 33,674 24,487 8.1% 5.9% 11% Specialized 3 19,029 4.6% items 3% Banks 9 17,497 4.2% 2 1
Slide 8: Our portfolio shows above-market growth in visitor traffic
Our portfolio shows above-market growth in visitor traffic During 2023 we had over 106 million vistors, a 9% increase vs 2022. Vehicular traffic in 2023 was close to 24 million vehicles, 6% more than in 2022. Quarterly portfolio’s foot traffic Vehicular traffic (million visitors) (12 month trailing,
Slide 9: We have maintained occupancy above 94%
We have maintained occupancy above 94% ...despite absorbing new shopping centers in their stabilization process. GLA and occupancy rate 500,000 97.0% GLA Operating Portfolio Location Occupancy 450,000 96.0% (sqm) 400,000 95.0% Sendero Escobedo Escobedo, N.L. 15,477 98% 350,000 94.0% 300,000 93.0
Slide 10: With positive lease spreads and an efficient collection, our profitability is high
With positive lease spreads and an efficient collection, our profitability is high Our 2023 lease spread consistently surpassed inflation 9.0% 8.9% 8.6% 8.6% 15.2% 8.2% 7.8% 6.6% 6.2% 6.0% 9.8% 5.4% 8.6% 8.7% 8.5% 4.7% 8.0% 7.8% 7.5% 7.4% 7.4% 4.0% 6.9% 6.9% 5.4% 5.1% 2.9% 4.5% 4.7% 2.4% 1.5% 1.4% 1
Slide 11: Our operating performance has been strong...
Our operating performance has been strong... Revenue (Mdp) NOI1 (Mdp) and NOI margin 1,436 1,400 89% 87% 87% 1,236 1,200 1,163 1,000 +16% 800 +6% 600 400 200 943 1,073 1,267 0 2021A 2022A 2023A 2021A 2022A 2023A 1,200 Operating EBITDA (Mdp) Net Income (Mdp) and Operating EBITDA Margin 1,000 917 870
Slide 12: …with resilient profitability…
…with resilient profitability… Total Revenue NOI (thousand Pesos) 2023 2022 Var. % 2023 2022 Var. % Sendero Escobedo 70,864 62,142 14% 64,885 56,187 15% Sendero Las Torres 99,561 86,630 15% 92,976 80,786 15% Sendero Periférico 65,133 62,327 5% 62,264 56,981 9% NOI Sendero Ixtap
Slide 13: ….supported by a conservative balance sheet
….supported by a conservative balance sheet Net Debt (Mdp) and LTV Total Debt (Mdp) 2,500 2,143 5,766 2,052 5,532 2,000 1,933 4,802 1,500 1,000 -4% -13% 500 14% 13% 13% 0 2021A 2022A 2023A 2021A 2022A 2023A Corporate Debt Maturity Schedule Corporate Debt Maturity Schedule (Mdp) (Mdp) Years Bank De
Slide 14: With a good debt profile
With a good debt profile As of December 31st, 2023/Million Pesos By source 52% Listed 48% 52% Listed Bank 48% Bank By Rate 2x Net Debt/EBITDA2 48% Variable 48% 52% 52% Variable (80% hedged) Fixed 9.1% Effective weighted 52% Fixed average interest rate1 9.5 years average debt By Currency maturity MXN
Slide 15: Sendero Ensenada development was inaugurated
Sendero Ensenada development was inaugurated On April 3rd, 2024, Plaza Sendero Ensenada’s inauguration was a great success Land 86,420 sqm Main anchors Cinépolis y Casa Ley Construction area 35,253 sqm Some subanchors Total GLA: 25,119 m2 Cuidado con el Perro, Leased GLA: 23,869 m2 DAX (Grupo Sanbor
Slide 16: We had $2.48 billion MXN cash in hand by year-end 2023
We had $2.48 billion MXN cash in hand by year-end 2023 Balance Sheet 2023 2022 Var. Financial Statements 2023 2022 Var. Cash 2,480 3,414 (27%) Leasing 1,367 1,161 18% Accounts receivable 25 20 27% Management Fees 69 75 (8%) Taxes to be recovered 180 144 25% Total Revenue 1,436 1
Slide 17: We are committed to being a sustainable company
We are committed to being a We want to make a positive impact and generate sustainable company value for all our stakeholders. Therefore, in 2020 we conducted our first materiality analysis to strengthen our sustainability strategy. Environmental: Resilient Acosta Verde Green Integrity at Acosta Ver
Slide 18: We have ambitious ESG goals
We have ambitious ESG goals Axis Material Topics Strategic Goal Goal year1 Have a climate risk mitigation and Resilient Sendero Climate Risks adaptation plan in 100% of our operations 2026 Reuse 30% of the water consumed 2026 Water Reduce our water intensity by 20% 2030 Energy Reduce our ele
Slide 19: We have a management team with ample experience
We have a management team with ample experience Hernán Treviño De Vega Chief Operating and Legal Officer Age: 47 years Jesús Acosta Verde Tenure in the company: Founder and Chairman of the 14 years Board of Directors Age: 78 years Tenure in the company: Edgar Maldonado 53 years de los Reyes Chief Fi
Slide 20: …and a strong Board of Directors
…and a strong Board of Directors Tenure in the Proprietary Member Position Gender Age Substitute Board Jesus Acosta Verde President Male 78 8 Jesus Acosta Castellanos Jesus Maria Garza Treviño Proprietary Board Member Male 67 8 Diego Acosta Castellanos Lisa Rae Reinchenbach Proprietary Board Member
Slide 21: With a solid Corporate Governance structure
With a solid Corporate Governance structure 38% General Shareholders’ Meeting Investors highest corporate governance body Promecap Board of Directors Shareholders 34% There are four committees that support Equity the Board of Directors’ work. International Audit and Corporate Practices Committee: 10
Slide 22: Disclosures
Disclosures This presentation and its content is strictly confidential and constitutes confidential information. This presentation is only being provided to a limited number of people previously selected by Grupo AV, S.A.B. de C.V. (the "Company"). This presentation and its contents are confidential
Slide 23: Contact
Contact Edgar Maldonado de los Reyes Chief Finance and Administration Officer emaldonado@grupoav.com
Grupo AV (Acosta Verde) — Investor Presentation (2024) on 6ix