Parque Arauco (PARAUCO) Q1 2026 earnings summary

Executive summary

• Revenue and EBITDA grew 20.2% and 20.5% year-over-year, respectively, with net income attributable to controlling interest up 67.7%, driven by new asset integration, organic growth, and efficient management.

• Largest independent operator of multi-format retail real estate in the Andean region, with 59 assets and over 1.3 million sqm of GLA across Chile, Peru, and Colombia.

• Tenant sales increased 15.5% year-over-year, with strong growth in Chile, Peru, and Colombia.

• Recognized for sustainability leadership by S&P Global and Merco ESG, reaffirming regional ESG leadership.

• Completed organizational restructuring to enhance agility and efficiency, with stock liquidity up 177.8% year-over-year.

Financial highlights

• Consolidated revenue reached Ch$99,508M (+20.2% YoY); EBITDA was Ch$70,624M (+20.5% YoY); FFO rose 12% and adjusted FFO surged 58.4% year-over-year.

• EBITDA margin reached 75.9%, net income margin 41.3%, and FFO margin 53.7%.

• Net financial debt/EBITDA at 5.0x; net financial debt: Ch$1,434,158M; cash: Ch$226,752M.

• Gross leasable area (GLA) expanded significantly: Chile +13.8%, Peru +16%.

• Average daily trading volume increased 178% year-over-year to $5.7 million.

Outlook and guidance

• Capital increase of Ch$285B (~US$330M) underway to support a US$1.03B investment plan, with US$415M remaining CapEx for over 190,000 sqm of new GLA.

• Targeting ~350,000 sqm of GLA expansion by 2030, focusing on flagship asset expansions, new shopping centers, and multifamily projects.

• Net debt to EBITDA target maintained around 5x, supporting future growth and investment-grade metrics.

• Expectation to maintain occupancy cost per category, with rents growing at inflation plus 2%.

• Non-rental revenues, especially parking, expected to grow faster than rental revenues.