Meanwhile, EBITDA increased 10% and tenants’ sales were up 2% regionally.
Santiago, 9 May 2023.- Mallplaza continues to report solid financial results, in line with those of 2022. According to the latest financial statements reported to the Financial Market Commission (CMF), the company registered a 48% increase in profits, equivalent to CLP 31.401 billion, compared to the CLP 21.278 billion reported in the first quarter of the previous year, which gives account of its success and visitors’ preference for a value proposition based on multiple reasons for visiting, in addition to an emphasis on operational efficiency.
Visitor flows surpassed 69.4 million people in all its urban centers, which represents 11% growth, and tenants’ sales at the regional level increased by 2% compared to the same period in 2022, in a context in which Chilean commerce’s sales fell 16% overall. EBITDA growth was 10% compared to the same quarter of the previous year and totaled CLP 74.969 billion, with a margin on revenue of 75%.
Meanwhile, Mallplaza’s occupancy was 95%, maintaining last year’s trend and surpassing pandemic levels with a renewed and attractive commercial proposal proposition that managed to boost growth in sales and visitors during the quarter.
“We began 2023 with positive results thanks to a robust growth and development strategy with multiple reasons for visiting, a consolidation of our leading urban centers and the successful reconversion of spaces. Today we have been capable of capitalizing on the efforts and achievements of 2022, projected toward the next 12 months, with a winning value proposition that visitors, tenants and sellers prefer,” said Fernando de Peña, CEO. of Plaza S.A.
Mallplaza reported that over 200 stores have already opened in these first three months of 2023, with another 600 new ones projected for the rest of the year. Of these, 150 opened their doors in Chile, with the fourth Decathlon store in Mallplaza Oeste standing out, a 3,000 m2 space with over 65 sports categories, in addition to other stores like Skechers, The Line, Miniso and new dining options like Bonafide and Cory. Meanwhile, there were 42 openings in Peru, with Cassinelli and Vinces Fight standing out in Mallplaza Bellavista, Enel in Mallplaza Comas, and Fit Point and Inbox in Mallplaza Arequipa, among others. At the same time, 10 new stores opened in Colombia, among which the Decathlon store in Mallplaza Manizales stands out.
Leading asset portfolio
Mallplaza also gave account of its portfolio of premium assets in the region, of which its top 10 are “TIER A” urban centers that generate 64% of its EBITDA. Among them, Mallplaza Vespucio in Chile and Mallplaza NQS in Colombia have achieved significant operational results. The former, with 167,000 m2 GLA, is undergoing a profound transformation of its experience and value proposition to consolidate its position in the city of Santiago, while Mallplaza NQS in Bogota has tripled its tenants’ average sales per m2.
