- The increased openness favored the return of the public and the normalization of sales in most categories.
- The 25 shopping centers in the three countries where Mallplaza has a presence averaged 84% of m2 in operation and ended the quarter with 91%. Furthermore, so far this year the company has signed new contracts for a total of 160,000 m2, creating a renewed value proposition for its visitors.
Santiago, 09 November 2021. – Two decisive factors for the positive results Mallplaza reported in its last financial statements were 50% growth in the sales conversion rate compared to 2019, pre-pandemic, and the recovery of different categories of products and services. Thus, the company with operations in Chile, Peru and Colombia recorded 30% higher sales in 3Q2021 than what it achieved in the same period in 2019, consolidating the sustained recovery observed this year and maintaining a solid financial position.
“Mallplaza’s performance during the third quarter of the year has been marked by the continued recovery in our tenants’ sales and in our flow of visitors, in addition to the operating level of our leasable area. This has been boosted by a robust omnichannel strategy with multiple contact points that we have made available to our tenants and customers, in addition to the strengthening of the brand portfolio, which has allowed us to incorporate new partners and enhance our commercial proposition to make it more attractive for those who visit us,” said Mallplaza CEO Fernando de Peña.
Mallplaza closed new business deals for 24,000 m2 in the third quarter, for a total of 160,000 m2 in 2021, in a renewed value proposition and with new brands. Of this total, 33,000 m2 are already operating and the rest will gradually open within the next 12 months. The new brands include Antihuman in Mallplaza Vespucio and the Mallplaza’s fifth Tricot store, in Mallplaza Norte. Other noteworthy brands are Natura, Isadora, Miniso, Blush Bar and Xiaomi in Chile; Samsung, Fridays, Dollar City and La Lucha in Peru; and Casaideas in Colombia.
This increased dynamism led the company to achieve revenues that were 2% less than the same quarter in 2019, favoring the recovery of lease rate levels and the maintenance of tenants’ occupancy costs. Regarding the FFO corresponding to the cash flow generated for the controllers at the profit level, it also remained in line with the pre-pandemic period of 3Q2019.
In addition to this is the consolidation of the new shopping centers opened in the region during 2020. Mallplaza Comas in Peru continued to register strong visitor levels and sales, positioning it as one of Lima’s most important shopping centers. For its part, Mallplaza NQS in Bogota doubled its visitor flows and reached 1 million visitors a month, as its remodeling and the readjustment of its commercial proposition continued with confirmation that, in addition to incorporating the first IKEA store in Colombia, the presence of the sports store Decathlon will be added. In Chile, construction of the IKEA store in Mallplaza Oeste continued as planned and entered the final installation phase, with opening planned for the second half of 2022.
Regarding occupancy levels, the company reported 91% at the close of the third quarter, with tenants better prepared to deal with the restrictions imposed during the pandemic, thus recovering lease rates and maintaining tenants’ occupancy costs, in addition to recovering collection times to levels similar to the pre-pandemic period.
Climate management
Mallplaza strengthened its commitment to robust climate management. Thus, in terms of emissions it continued to reduce its carbon footprint through an efficient operation, sourcing over 98% of its power from Nonconventional Renewable Energies (NCREs) in Chile and making progress toward clean energy solutions regionally. At the same time, it finished measuring the water footprint at Mallplaza Antofagasta, Mallplaza Egaña and Mallplaza Trébol.
In addition to this, Mallplaza sealed its commitment to the promotion of electromobility through an alliance with Voltex that will allow 38 electric vehicle charging stations to be installed in its 17 shopping centers in Chile. The company plans to have 72 electric vehicle chargers in 2022, which together will save 142,915 tons of CO2 per year.
It participated in the DJSI for the third consecutive year in the same period, where Mallplaza has been present in the MILA and Chile categories since 2019.
