The company also presented a new division-based corporate structure that reports CEO and whose purpose is to drive increased focus accompanied by swift management capacities and innovation for the future.
Santiago, 22 April 2021. -Mallplaza held Annual Shareholders’ Meeting in virtual format for the third time due to health restrictions. On the occasion, the company with operations in Chile, Peru and Colombia reported on the main business milestones achieved in 2020, in addition to the economic results of the reporting period.
“We are living in a unique time that challenges the industry, but a time that also opens the opportunity to lead change. In this way, we have been capable of seizing opportunities quickly while staying focused on the long term. This has allowed us to add value to our tenants and create new business opportunities, even at the most difficult moment of the pandemic,” Mallplaza CEO Fernando de Peña said.
The confidence has been reflected in the incorporation of more and new businesses. Thus, during the first quarter, the company has closed and agreed to business deals to lease a total area of 67,000 m2, which include tenants in the retail, mixed-use and retailtainment categories. For example, in retail alone new Casa Ideas, Tommy Hilfiger, Tricot, and CIC stores were added, in addition to services like the Civil Registry, Sercotec, among others. In retailtainment, new Emporio La Rosa, Buena Barra, Johnny Rockets outlets, among others, have been incorporated.
“We’re optimistic about the future and also about the confidence our tenants have placed in Mallplaza’s value proposition. We are aware that we will continue to face a challenging context but are preparing to move toward a unique experience with multiple points of contact and urban centers that will play a strategic role not just as places for people to meet and socialize, but also as logistics hubs, both for brands as well as their customers,” De Peña said.
New structure
The company has also defined a new corporate structure with a view to the Mallplaza of the future, incorporating a Division Manager for each of the countries, who will report directly to the CEO and be responsible for operations in each market regarding both customers as well as tenants. In the case of the Chile Division manager, the position has been filled b Pablo Pulido previously Colombia country manager. Mauricio Mendoza, previously Peru country manager, has been appointed Colombia Division Manager and Martín Romero, previously Commercial Manager for Peru, will become Peru Division Manager.
“This reorganization is aimed at consolidating the agile and efficient execution of our strategy by allowing increased focus, flexibility and capacity to adapt, giving new meaning to our shopping centers and simplifying our decision-making processes. On the other hand, it allows our Corporate Managers to focus on mobilizing the company’s strategy,” he said.
2020 Results
Meanwhile, the financial results reported at year-end registered 158% growth in sales and almost threefold growth in EBITDA, both when compared to the third quarter. In addition, the normalization of operations made it possible to go from an average of 45% of leasable area open in the third quarter to 75% in the last quarter of the year. In addition, there was an accelerated return of visitors with flows of 75% during the last quarter compared to 2019 and representing a 145% increase over the previous quarter. For its part, the conversion rate increased by 146%.
Regarding operation under health restrictions, Mallplaza reiterated that its 25 urban centers have been open for essential commerce and services, playing a fundamental role supplying communities in a nationally and internationally certified safe operation. In addition to this were the different measures taken to accompany tenants, such as not charging rent when shops were closed and the adoption of best practices to cut costs with an effective direct transfer of discounts.
