With 25 urban centres in Chile, Peru and Colombia, the company has 185 thousand m2 of new business and consolidated its omnichannel strategy, allowing it to offer a greater variety of services to visitors and commercial partners grouped in a single physical-digital space.
Santiago, March 1, 2022.
Enhancing an offer with multiple visitation purposes and mixed uses hand in hand with a robust and differentiating omnichannel strategy continues to deliver positive results to Mallplaza. According to the latest release of financial statements, the company recorded an accelerated recovery of its sales, conversion, and revenue levels, reaching visitor flows of 74 million at the regional level in the reported quarter, equivalent to 95% of the 4Q2019 flow, and an occupancy level of 91% with a diversified and high-value mix of commercial partners.
“2021 was a challenging year, but particularly one of opportunities and growth for Mallplaza, which leaves us in an excellent position to approach 2022. The positive results and looking to the future, our retail ecosystem (malls, marketplace, loyalty and logistics) allows us to provide more services and products. Generating new business opportunities, growth and value to commercial partners, sellers and visitors through a differentiating experience compared to the market,” said Fernando de Peña, general manager of Mallplaza.
Regarding the sales of its commercial partners, the company observed high levels and better performance due to the lower sanitary restrictions and the rapid recovery of visitor flows. Given this improved performance, the company recovered its billing level. Therefore, Same-Store Sales (SSS) were 20% higher than in 4Q2019, the pre-pandemic period, without considering supermarkets.
In terms of its value proposition, Mallplaza formalised 185 thousand m2 of new business and consolidated the presence of brands valued by the markets, such as Casaideas, Decathlon, IKEA, Tricot, The Line, and Doremi. This was strengthened by a growing interest from new retailers to enter Mallplaza for the first time, searching for high flow.
On the other hand, Mallplaza achieved in 4Q2021 an increase in revenues of 27% compared to 4Q2019 and 51% compared to 2020. In turn, EBITDA was 76% higher than the same period of the previous year, with a margin over revenues of 79%, while FFO scored 111% higher compared to 4Q2019 and grew 125% compared to the same period of 2020.
Differentiating omnichannel strategy
The company made accelerated progress in its omnichannel strategy. Generating a new infrastructure and capabilities that not only allowed it, in the most pandemic challenging moments, to sustain the operation and meet the needs of its customers through non-face-to-face channels but is also giving good results to the company and its commercial partners, consolidating the position of logistics hub of its urban centres.
As of December 2021, Click & Collect services are already operating in the three countries with 19 pick-up points, reaching over 60 thousand digital orders with logistics services for marketplaces, commercial partners, and entrepreneurs. For its part, the PitStop service handled more than 350 thousand orders in 4Q2021, accumulating since June 2020 a total of orders exceeding 1.6 million.
Finally, regarding future growth, the company will continue with its renovation and expansion projects at Mallplaza Vespucio, Mallplaza Oeste, Mallplaza Norte and Mallplaza La Serena and continue to strengthen the positive performance of its new shopping centres, Mallplaza Comas in Peru and Mallplaza NQS in Bogota. The new Mallplaza Cali is scheduled to open in the first half of 2024.
