- Sales growth (21% above 2019 first quarter) and the recovery of visitors to Mallplaza ratify the complete normality of the operation, with 100% of the leased area operating and an occupancy of 93% of the GLA.
- Value proposition is strengthened: H&M will add 13 new stores in the company’s urban centres, completing 19 stores at the regional level, and IKEA, which will add three stores. In addition, the company added a coworking network with new entertainment and gastronomic spaces.
Santiago, May 10, 2022.
Consolidating its urban centres as hubs in the middle of the city capable of attracting visitors, business partners, and sellers is one of the purposes that Mallplaza has set for 2022 and that, according to the financial statements for the first quarter, is already making positive progress. With 25 shopping centres in Chile, Peru, and Colombia, the company reported good performance with a normalised operation, with better results than those achieved in the pre-pandemic in terms of income (+18%) and EBITDA (+9%).
Regarding visitor flow, Mallplaza increased the return of people to its urban centres, reaching 62 million people during the quarter. Additionally, conversion levels were 44% higher than during the pre-pandemic years, which allowed sales to be 21% higher than in the first quarter of 2019.
“Mallplaza is consolidating its position as a preferred destination. This allows us to continue pushing flows upwards, promoting the development of a cutting-edge omnichannel proposal and a commercial proposal enriched with the best retailers. To achieve this, we took advantage of the pandemic’s opportunities and consolidated a diversified and high-value mix of commercial partners,” said Fernando de Peña, general manager of Mallplaza.
During the first quarter of 2022, we formalised new businesses for 30,000 m2 and those announced during 2021. To date, of the 185,000 m2 of new companies, 48% are already in operation, and another 17% are being enabled for stores at the end of 1Q2022. In comparison, the remaining 35% will come into operation during the following quarters of 2022. Therefore, this enabled the company to end the year with an occupancy rate of 93% at the end of March 2022. For instance, H&M added 13 new stores in the company’s urban centres, completing 19 stores at the regional level, and IKEA, the world’s largest furniture retailer, added three stores: Mallplaza Oeste in Chile; and Mallplaza Cali and Mallplaza NQS in Colombia. Added to this are attractive and valued brands such as Decathlon, Casaideas, TheLine, and Tricot. Mallplaza has also completed the first additions to the new co-work network, which will add 12,000 m2 at the regional level. Along with this, the entry of two complexes of paddle tennis courts is considered, occupying re-adapted spaces that allow drive flow and generate new alliances.
Regarding financial results during 1Q2022, revenues increased by 53% compared to 1Q2021 and 18% compared to 1Q2019. Meanwhile, EBITDA was 46% higher than the previous year and 9% over the same period in 2019, reaching a margin of 75% during the quarter.
Vespucio: renewed gastronomic proposal
The company continues to make progress in updating the value proposition of the new Mallplaza Vespucio with an innovative entertainment and gastronomy offer marked by a character of socialisation that is unique in the industry. The Gastronomic Market, the remodelling and expansion of the Terraces, and the incorporation of new fast-casual cafes and sweet zones will be incorporated, considering more than 120 proposals. Meanwhile, in entertainment, an unprecedented area for gamers will be included, in addition to the renovation and expansion of the Cinemark theatres with new IMAX screens.
Regional growth
In addition, growth is part of Mallplaza’s DNA. Thus, Mallplaza Cali in Colombia will incorporate 67,000 m2 to the leasable area of the company with an excellent fashion proposal with national and international brands such as Inditex (Zara, Bershka, Pull&Bear, Stradivarius), in addition to IKEA, with the first store in the city of Cali; H&M, Decathlon, Homecenter, and Cinemark.
Omnichannel strategy
Regarding the performance of its omnichannel strategy, it continues giving positive results, strengthening the different alternatives developed both for its business partners and its visitors, adding value, generating flows, and strengthening its urban centres as a logistics hub. Mallplaza, for example, has increased the number of interactions with its customers through means of payment and loyalty, allowing it to increase the number of customers identified per month from 0.7 million to 1.6 million. In terms of logistics, the company has 13 Pitstop points in its shopping centres, offers service to more than 240 restaurants, and delivered more than 1,400,000 orders in the last year. In addition to that, it has 19 Click & Collect and six warehouses at a regional level, providing more than 77,000 packages during the previous year.
Finally, in the reported period, Mallplaza received various industry awards, such as first place in the shopping centre category in the Omnichannel Index Chile 2022, conducted by the consulting firm Kawésqar Lab; first place in the Chile 3D study as the most valued shopping centre brand by Chileans; and AIS Certification for its four urban centres in Peru for its commitment to diversity and inclusion.
