Financial Highlights
$ 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 |