- The company reached 95% occupancy, approaching its historical levels. Meanwhile, 467,000 m2 are destined for essential commerce, generating habituality among visitors and boosting daily traffic.
- Mallplaza opened 360 new stores so far this year, with 280,000 m2 of new premises, of which 160 correspond to the current quarter.
- EBITDA increased by 28% compared to the third quarter of 2021, reaching CLP 74.538 billion and achieving a revenue margin of 77%, in line with the pre-pandemic level.
Santiago, 8 November 2022. -Mallplaza has maintained the confidence of its tenants and visitors in its differentiated value proposition and that is reflected in the latest operational and financial results reported by the company, which surpassed those obtained prior to the pandemic. Thus, sales in Mallplaza’s urban were up 27% compared to 3Q2019 and its revenues increased 21% compared to the same period, once again registering the best quarterly performance since the company’s stock market launch in 2018. Regarding visitor flows, 67 million people were reported, just 7% less than what was obtained in 3Q2019, but 10% higher than in 3Q2021.
“We set out to be our tenants’ best allies and for that we have created leading propositoins with a focus on leisure and multiple visiting purposes. Our urban centers are currently omnichannel and are consolidating as favorite destinations, which is reflected in their 95% occupancy rate at the end of 3Q2022 and the over 360 new stores opened so far this year, with 280,000 m2 of new premises,” Mallplaza CEO Fernando de Peña said.
Among the openings that stood out the most in the period are the first IMAX cinemas in Mallplaza Vespucio and the successful performance of the Movistar Game Club gamer zone in the same urban center, which has added over 30,000 new visitors in a short time. For its part, retail has been boosted with H&M’s arrival in Mallplaza La Serena, in addition to other valued brands such as Victoria’s Secret, Bath & Body Works and the sports brand Hit in Chile; Tommy Hilfiger in Trujillo, Peru, and an Éxito Wow in Bogota, Colombia.
EBITDA increased 15% in 3Q2022 compared to the same period in 2019, before the pandemic, and 28% compared to the third quarter of 2021, reaching CLP 74.538 billion and achieving an operational efficiency of EBITDA to revenues of 77%. Meanwhile, Mallplaza’s final cash flow generation, FFO, was up 29% compared to 3Q2019 and 33% compared to 3Q2021, reaching CLP 59.483 billion and with an FFO margin on revenues of 62%.
Consolidation of daily visitor flow
Mallplaza’s performance is evidence of the work by the company, with 25 urban centers in operation in Chile, Peru and Colombia, to consolidate a commercial mix focused on leisure and socialization, in parallel to an omnichannel strategy that has been capable of driving the digital flow transactions of visitors to the mall, creating new reasons for visiting.
Thus, at the end of the reported quarter, Mallplaza’s Click&Collect service managed to bring over 110,000 from online to the urban centers. In addition, the four Marketplaza events held in the period – with over 1 million visitors – allowed vendors to be brought closer to the physical public, enhancing their sales and developing a new business model. For its part, the PitStop service currently delivers solutions to over 300 restaurants, generating additional sales, greater digital flow and reduced delivery times.
In addition – and together with opening new categories like the coworking space in Mallplaza Vespucio, which joins the one in Mallplaza Egaña – 25% of Mallplaza’s GLA (around 467,000 m2) for essential commerce like supermarkets, home improvement, public and private services, generating habituality among visitors, which also helps drive daily traffic.
Mallplaza will continue with new openings in the coming months, such as the second IKEA store in Chile, which will open in in Mallplaza Oeste in December, followed by the brand’s first stores in Colombia, in Mallplaza NQS (2023) and Mallplaza Cali (2024). In addition, we await the upcoming opening of El Mercado del 14 in Mallplaza Vespucio, a new dining district that will have 11 high-level culinary propositions. The restaurants committed by the Mil Sabores gastronomy group will also begin to open, including – among others – the arrival of MUU Steak in Mallplaza Egaña and Mallplaza Vespucio; Barra Chalaca in Mallplaza Norte and La Sanguchera del Barrio in Mallplaza Vespucio.
