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Financial Highlights

Currency: US $
  31-Dec-12 31-Dec-13 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18
  2012 2013 2014 2015 2016 2017 2018
GLA sf 12,047,898 14,404,784 16,783,924 20,052,964 22,569,585 26,721,171 29,867,577
Occupancy 89.1% 91.1% 87.3% 86.7% 89.4% 92.3% 91.83%
Stabilized portfolio occupancy 89.1% 91.1% 92.4% 94.2% 93.8% 95.3% 91.83%
Vacancy 10.9% 9.0% 12.7% 13.3% 10.6% 7.7% 8.2%
Revenue 51,863,596 58,522,064 69,332,889 78,562,329 90,511,822 109,427,282 132,669,266
NOI 48,365,161 55,981,344 66,571,624 75,985,809 87,127,432 105,320,879 127,820,648
NOI margin 93.3% 95.7% 96.0% 96.7% 96.3% 96.2% 96.3%
EBITDA 41,115,236 48,270,780 96.0% 65,973,224 75,739,684 91,952,523 112,831,448
EBITDA margin 79.3% 82.5% 82.8% 84.0% 83.7% 84.0% 85.0%
FFO 10,024,101 17,301,157 32,441,488 40,098,384 48,795,096 56,751,370 55,643,530
FFO per share 0.034 0.038 0.064 0.064 0.077 0.093 0.127
FFO margin 19.3% 29.6% 46.8% 51.0% 53.9% 51.9% 58.4%
FFO yield 2.0% 2.2% 3.2% 4.2% 6.4% 7.5% 9.3%
Dividends paid 10,874,330 10,468,173 16,846,565 22,321,140 28,825,690 39,110,027 47,897,981
Dividends per share USD 0.028 0.021 0.033 0.035 0.046 0.065 0.080
Dividend yield 1.6% 1.2% 1.7% 2.3% 3.8% 5.3% 5.9%
Cash 157,292,115 241,349,817 105,700,758 105,700,758 231,308,080 91,679,537 65,207,794
Investment property 744,761,666 951,884,585 1,101,352,822 1,214,930,005 1,415,714,762 1,701,006,371 1,884,621,430
Total assets 919,822,944 1,220,123,798/td> 1,246,023,564 1,477,517,402 1,500,794,842 1,832,091,989 1,994,085,885
Total debt 327,862,247 318,027,746 306,739,068 344,759,009 340,871,417 581,994,879 699,797,422
Net debt 170,570,132 76,677,929 201,038,310 113,450,929 289,537,651 490,315,342 634,589,628
Total equity 517,228,170 789,585,406 797,735,865 974,786,984 959,384,899 1,022,332,124 1,053,703,574
CAPEX 65,279,020 102,936,169 118,513,768 116,674,635 157,437,522 196,210,053 137,897,718
Existing GLA 12,047,898 14,404,784 16,783,924 20,052,964 22,569,585 26,721,171 29,867,577
GLA Under Development 1,547,534 1,096,181 2,870,847 1,886,983 2,008,397 2,330,549 1,041,753
% existing 89% 93% 85% 91% 92% 92% 97%
% under construction 11% 7% 15% 9% 8% 8% 3%
Total 13,595,432 15,500,965 19,654,771 21,939,947 24,577,982 29,051,720 30,909,330