Resumen de resultados

3er trimestre 2018

www.fibrashop.mx

Margen NOI y EBITDA

2

Sólidos resultados operativos

170.0

180.0

190.0

200.0

210.0

220.0

230.0

3Q 2017 3Q 2018

202.3

267.4

MN

P

NOI

+ 32.21%

250.0

270.0

290.0

310.0

330.0

350.0

370.0

3Q 2017 3Q2018

277.2

350.1 MN

P

EBITDA

150.0

170.0

190.0

210.0

230.0

250.0

270.0

3Q 2017 3Q2018

185.8

254.1 MN

P

Ingresos

+ 26.59%

+ 36.76%

50.00%

55.00%

60.00%

65.00%

70.00%

75.00%

80.00%

3Q-2013 3Q-2018

72.98%

76.22%

67.03%

72.42%

Margin NOI Margin EBITDA

www.fibrashop.mx 3

Incremento en ocupaciones

La ocupación

promedio

ponderada de

todo el portafolio

es de 95.80%

Plaza% de Ocupación

(Adquisición)

% de

Ocupación

Actual

Variación

Plaza Cibeles 99% 99% 0%

La Luciérnaga 73% 99% 26%

Puerto Paraíso 100% 95% -5%

Kukulcán Plaza 100% 84% -16%

UC Condesa Durango 100% 100% 0%

UC Jurica 99% 99% 0%

UC Juriquilla 73% 97% 24%

UC Xalapa 63% 92% 29%

Puerta Texcoco 95% 99% 4%

UC Nima Shops 75% 100% 25%

Los Atrios 80% 97% 17%

Galerías Tapachula 92% 95% 3%

Galerías Mall Sonora 85% 98% 13%

Las Misiones 86% 100% 14%

City Center Bosque Esmeralda 87% 90% 3%

Plaza Cedros 92% 90% -2%

Cruz del Sur 97% 100% 3%

Puerta La Victoria 91% 91% 0%

www.fibrashop.mx 4

Objetivo: Crecer… y mejorar

5.4 veces + ingresos

5.5 veces + NOI

5.7 veces + EBITDA

En estos años hemos crecido

más de 5 veces y hoy tenemos

márgenes comparables con los

mejores operadores a nivel

mundial

0

50

100

150

200

250

300

350

400

3Q-2013 3Q-2018

65

351

48

267

44

254

MD

P

Ingresos NOI EBITDA

50.00%

55.00%

60.00%

65.00%

70.00%

75.00%

80.00%

4Q-2013 3Q-2018

59.64%

76.22%

53.64%

72.42%

Margen NOI Margen EBITDA

www.fibrashop.mx 5

Pese al aumento en el costo financiero,

hemos recuperado el nivel de utilidades

Pese a que en un año el costo financiero se incremento 1.9 veces, las utilidades

netas han crecido.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

-40.00

-20.00

0.00

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

180.00 Comportamiento Historico del Costo Financiero

Utilidad del periodo (sin avalúos) Costo Financiero TIIE

www.fibrashop.mx

Ingresos mismas tiendas

6

14.34%

11.47% 9.52%9.93%

8.10%

11.55%

9.12% 9.60%

15.06%

11.63%

10.20%

12.44%

23.42%

26.80%

24.28% 23.96%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18

Tasa de incremento anualizado mismos centros comerciales

Tasa Ingresos Tasa NOI

Los ingresos mismas plazas han registrado un crecimiento sostenido durante los últimos dos

años a doble dígito, el promedio del crecimiento anualizado ha sido 10.45%. La tasa

anualizada de crecimiento del NOI ha sido de 18.47% en el mismo periodo mencionado de

dos años. Mientras que la tasa de inflación anualizada promedio de los últimos dos años ha

sido de 5.27%.

www.fibrashop.mx 7

Debido al aumento en los ingresos hemos

recuperado el crecimiento en la utilidad por CBFI

Estos números aún no reflejan el potencial del portafolio por las inversiones que hemos realizado

actualmente en expansiones (Kukulcan Plaza y Galerias Mall Sonora), así como los nuevos

proyectos en Coinversion (Sentura y La Perla) y la maduración de Puerta la Victoria.

www.fibrashop.mx 8

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

4Q 2013 3Q 2018

4.65%

10.90%

10.0

15.0

20.0

25.0

30.0

4Q 2013 3Q 2018

18.5 ce

nts

26.13141% 525pb

Utilidad del

periodo por CBFI

Dividend Yield

Atractivos Rendimientos de Dividendo

Los sólidos resultados de FibraShop nos han permitido devolver distribuciones atractivas a

nuestros tenedores de CBFI, lo que se refleja en un rendimiento de dividendos competitivo

de trimestre a trimestre.

www.fibrashop.mx

Disclaimer

About FibraSHop

FibraShop (BMV: FSHOP13), is the only real estate option in Mexico offering a specialization in the

shopping malls segment that has a long-track experienced management in the commercial sector, a solid

operating and corporate governance structure, which guarantees transparency, efficiency and a profitable

and secure growth vehicle.

FibraShop is an infrastructure and real estate trust formed to acquire, posses, administer and develop real

estate in the shopping center segment in Mexico. The initial portfolio includes eight properties in four states

of the Mexican Republic and one in Mexico City. FibraShop is administered by a group of experienced

management specialized in the industry with a long track record and is advised externally by Fibra Shop

Portafolios Inmobiliarios, S.A.P.I. de C.V.

FibraShop’s goal is to provide attractive returns to CBFIs holders, through the stable distribution and capital

appreciation.

Forward Looking Statements

This report may contain certain forward-looking statements. Said forward-looking statements are not based

on historic events but on the current views of the administration. We caution that certain declaration or

estimates imply risks and uncertainties that can changed due to different factors that are not under the

Company’s control.

9

www.fibrashop.mx

Contacts

10

Salvador Cayón Ceballos, CEOscayon@fibrashop.mx

Gabriel Ramírez Fernández, CFOgramirez@fibrashop.mx

Irvin García Millán, Controllerinvestor@fibrashop.mx

Tel. (5255) 5292 1160

1

3rd Quarter 2018 Results

Summary

www.fibrashop.mx

Margin NOI & EBITDA

2

Solid operating results

NOI

EBITDA

Revenues

250.0

270.0

290.0

310.0

330.0

350.0

370.0

3Q 2017 3Q2018

277.2

350.1 MN

P

+ 26.59%

170.0

180.0

190.0

200.0

210.0

220.0

230.0

3Q 2017 3Q 2018

202.3

267.4

MN

P

+ 32.21%

150.0

170.0

190.0

210.0

230.0

250.0

270.0

3Q 2017 3Q2018

185.8

254.1 MN

P

+ 36.76%

50.00%

55.00%

60.00%

65.00%

70.00%

75.00%

80.00%

3Q-2017 3Q-2018

72.98%

76.22%

67.03%

72.42%

Margin NOI Margin EBITDA

www.fibrashop.mx 3

Occupancy increases

The weighted

average

occupancy of

the entire

portfolio is

95.80%

Shopping CenterOccupation %

(Acquisitions)

Current

Ocupation %

% Point

Variation

Plaza Cibeles 99% 99% 0%

La Luciérnaga 73% 99% 26%

Puerto Paraíso 100% 95% -5%

Kukulcán Plaza 100% 84% -16%

UC Condesa Durango 100% 100% 0%

UC Jurica 99% 99% 0%

UC Juriquilla 73% 97% 24%

UC Xalapa 63% 92% 29%

Puerta Texcoco 95% 99% 4%

UC Nima Shops 75% 100% 25%

Los Atrios 80% 97% 17%

Galerías Tapachula 92% 95% 3%

Galerías Mall Sonora 85% 98% 13%

Las Misiones 86% 100% 14%

City Center Bosque Esmeralda 87% 90% 3%

Plaza Cedros 92% 90% -2%

Cruz del Sur 97% 100% 3%

Puerta La Victoria 91% 91% 0%

www.fibrashop.mx 4

Goal: Grow ... and improve

5.4 times + REVENUES

5.5 times + NOI

5.7 times + EBITDA

In these 5 years we have grown

more than 5 times and today we

have comparable margins to

those of the best operators

worldwide

0

50

100

150

200

250

300

350

400

3Q-2013 3Q-2018

65

351

48

267

44

254

md

p

Revenue NOI EBITDA

50.00%

55.00%

60.00%

65.00%

70.00%

75.00%

80.00%

4Q-2013 3Q-2018

59.64%

76.22%

53.64%

72.42%

Margin NOI Margin EBITDA

www.fibrashop.mx 5

Despite the increase in the financial cost, we

have recovered the profits levels

Although in one year the financial cost increased 1.9 times, net profits are still growing.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

-40.00

-20.00

0.00

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

180.00

Historical Net profit and financial cost

Net income of the period (without appraisal) Financial Cost TIIE

www.fibrashop.mx

Same Shopping Centers Revenues

6

The same-store incomes have registered a sustained growth during the last two years in

double digits, the average annualized growth has been 10.45%. The annualized growth rate of

the NOI was 18.47% in the same period of two years. While the average annualized inflation

rate of the last two years has been 5.27%.

14.34%

11.47% 9.52%9.93%

8.10%

11.55%

9.12% 9.60%

15.06%

11.63%

10.20%

12.44%

23.42%

26.80%

24.28% 23.96%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 3Q 18

Same-store sales annualized growth rate

Income Rate NOI Rate

www.fibrashop.mx 7

Revenue increase allowed to recover profit

growth per CBFI

These numbers do not reflect the potential the current expansion investments in the portfolio

(Kukulcan Plaza and Galerias Mall Sonora), as well as new co-investment projects (Sentura and La

Perla) and the maturation of Puerta La Victoria.

www.fibrashop.mx 8

Attractive for Dividend Yield

The solid results of FibraShop have allowed us to return attractive distributions to our CBFI holders,

which is reflected in a competitive dividend yield from quarter to quarter.

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

4Q 2013 3Q 2018

4.65%

10.90%

Dividend Yield

10.0

15.0

20.0

25.0

30.0

4Q 2013 3Q 2018

18.5 ce

nts

26.13

525pb141%

Income per CBFI´S

www.fibrashop.mx

Disclaimer

About FibraSHop

FibraShop (BMV: FSHOP13), is the only real estate option in Mexico offering a specialization in the

shopping malls segment that has a long-track experienced management in the commercial sector, a solid

operating and corporate governance structure, which guarantees transparency, efficiency and a profitable

and secure growth vehicle.

FibraShop is an infrastructure and real estate trust formed to acquire, posses, administer and develop real

estate in the shopping center segment in Mexico. The initial portfolio includes eight properties in four states

of the Mexican Republic and one in Mexico City. FibraShop is administered by a group of experienced

management specialized in the industry with a long track record and is advised externally by Fibra Shop

Portafolios Inmobiliarios, S.A.P.I. de C.V.

FibraShop’s goal is to provide attractive returns to CBFIs holders, through the stable distribution and capital

appreciation.

Forward Looking Statements

This report may contain certain forward-looking statements. Said forward-looking statements are not based

on historic events but on the current views of the administration. We caution that certain declaration or

estimates imply risks and uncertainties that can changed due to different factors that are not under the

Company’s control.

9

www.fibrashop.mx

Contacts

10

Salvador Cayón Ceballos, CEOscayon@fibrashop.mx

Gabriel Ramírez Fernández, CFOgramirez@fibrashop.mx

Irvin García Millán, Controllerinvestor@fibrashop.mx

Tel. (5255) 5292 1160