Vesta Real Estate Corporation SAB de CV
NYSE:VTMX

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Vesta Real Estate Corporation SAB de CV
NYSE:VTMX
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Price: 30.51 USD -0.2% Market Closed
Market Cap: 2.7B USD

Vesta Real Estate Corporation SAB de CV
Investor Relations

In the vibrant tapestry of Mexico's industrial landscape, Vesta Real Estate Corporation SAB de CV emerges as a pivotal character orchestrating a symphony of development and growth. Founded in the late 1990s, Vesta has carved a niche for itself by focusing on the acquisition, development, and management of industrial real estates, such as distribution centers, logistics hubs, and manufacturing facilities. With an astute understanding of Mexico's strategic location as a nexus between North and Latin America, Vesta has capitalized on the burgeoning demand for industrial properties that facilitate global trade and supply chain efficiency. Positioned with properties near key transportation nodes – including ports, airports, and major highways – Vesta ensures its clients, who range from multinational corporations to local enterprises, enjoy unparalleled access to their markets. This strategic planning not only underscores Vesta's robust portfolio but also creates a stable cash flow through long-term leases with high-quality tenants.

At the heart of Vesta's operational ethos is its commitment to sustainable and innovative real estate solutions. This dedication translates into the development of state-of-the-art facilities that not only fulfill the logistical and operational needs of its tenants but also adhere to environmental standards, thus enhancing the tenants' corporate social responsibility initiatives. Vesta deftly balances its property management activities with a forward-thinking investment strategy, reinvesting cash flows to acquire new land and develop additional properties, thereby growing its portfolio and revenue streams. By focusing on high-demand regions and maintaining strong occupancy rates, Vesta Real Estate Corporation demonstrates a refined ability to generate steady rental income while also capitalizing on property appreciations, establishing itself as a stalwart in Mexico's industrial real estate market.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 24, 2025
AI Summary
Q3 2025

Strong Revenue Growth: Total income for Q3 2025 reached $72.4 million, up 13.7% year-over-year, driven by new leases and inflation-linked rent increases.

Margin Improvement: Adjusted NOI and EBITDA margins rose to 94.4% and 85.3%, respectively, both up from last year. Full-year EBITDA margin guidance was raised to 84.5%.

Solid Demand Recovery: Leasing momentum returned, with 1.7 million square feet of leasing activity and broad-based demand across multiple markets, especially from logistics, electronics, and manufacturing sectors.

Strategic Land Acquisitions: Vesta acquired 330 acres in Monterrey, nearing completion of the land bank needed for its Route 2030 strategy.

Asset Recycling and Capital Execution: Sold a building at a 10% premium to appraised value; completed a $500 million unsecured notes offering to reinforce liquidity and refinance debt.

Occupancy Dynamics: Overall portfolio occupancy dipped slightly to 89.7% due to new buildings entering lease-up phase, but stabilized and same-store occupancies remained above 94%.

Guidance Raised: Management raised full-year 2025 EBITDA margin guidance and confirmed revenue growth expectations of 10–11%.

Key Financials
Total Income
$72.4 million
Total Income (excluding energy)
$69.9 million
Adjusted Net Operating Income
$66.1 million
Adjusted NOI Margin
94.4%
Adjusted EBITDA
$59.7 million
Adjusted EBITDA Margin
85.3%
FFO (excluding current tax)
$47.4 million
FFO per Share
$0.055
Pretax Income
$52.4 million
Portfolio Occupancy
89.7%
Stabilized Occupancy
94.3%
Same Store Occupancy
94.8%
Leasing Activity
1.7 million square feet
Leasing Spread (Trailing 12 Months)
12.4%
Cash and Cash Equivalents
$587 million
Total Debt
$1.45 billion
Net Debt to EBITDA
4x
Loan to Value Ratio
31%
Senior Unsecured Notes Issuance
$500 million at 5.5%, due 2033
Dividend
$0.38 per ordinary share (Q3 2025)
Asset Sale
80,604 square feet building sold for $5.5 million (10% premium to appraised value)
Revenue Growth Guidance
10–11% for full year 2025
Earnings Call Recording
Other Earnings Calls

Management

Mr. Lorenzo Manuel Berho Corona
Executive Chairman
No Bio Available
Mr. Lorenzo Dominique Berho Carranza
Chief Executive Officer
No Bio Available
Mr. Juan Felipe Sottil Achutegui
Chief Financial Officer
No Bio Available
Mr. Guillermo Díaz Cupido
Chief Investment Officer
No Bio Available
Ms. Maria Fernanda Bettinger Davo
Director of Investor Relations
No Bio Available
Mr. Alejandro Pucheu Romero
General Counsel & Secretary
No Bio Available
Mr. Rodolfo Gerardo Balmaceda García
Sales Manager
No Bio Available
Mr. Alfredo Marcos Paredes Calderon
Chief Human Resources & Integrity Officer
No Bio Available
Mr. Diego Berho Carranza
Chief Portfolio Officer
No Bio Available
Mr. Francisco Eduardo Estrada Gomez Pezuela
Executive Regional Vice President ? Bajío & Central Region
No Bio Available

Contacts

Address
MEXICO, D.F.
Mexico City
Paseo de los Tamarindos No. 90, Torre II, Piso 28, Col. Bosques de las Lomas
Contacts