Terrafina 2Q13 Earnings Release


Terrafina 2Q13 Earnings Release

MEXICO CITY--(BUSINESS WIRE)-- Terrafina ("TERRA") (BMV: TERRA13) an industrial FIBRA (real estate investment trust) dedicated to the acquisition, development, lease and management of industrial real estate assets in Mexico, today announced its results for the Second Quarter 2013.

The figures presented in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS"). All figures are expressed in millions of Mexican pesos unless otherwise indicated and they can vary due to rounding. With respect to the financial comparisons with the previously reported quarter (1Q13); it is worth mentioning that the figures were not consolidated for the full quarter, only for the period comprised from March 20 to March 31, 2013.

Financial and Operating Highlights

  • On May 22, 2013, Terrafina signed a purchase-sale agreement for the acquisition of 11 million square feet ("MSF") of Gross Leasable Area (GLA) for the KIMCO-American Industries portfolio representing an acquisition price of US$600 million. The transaction was approved by the Shareholders on June 17, 2013, and it´s expected to be completed on 3Q13.

  • The value of the investment properties increased by Ps.665 million or 5.3% when compared to 1Q13, mostly related to exchange rate fluctuations.

  • Leasing activity for a total of 1.77 MSF of which 14% represent new leasing area, including expansions, and 86% represent contract renewals. Leasing activity mainly took place in the regions of Nuevo Laredo, Ramos Arizpe, San Luis Potosi, Queretaro and Cuautitlan Izcalli.

  • Currently, Terrafina holds 0.37 MSF in turn-key projects under development; 0.16 MSF in Aguascalientes, 0.03 MSF in San Luis Potosi, and 0.18 MSF in Cuautitlan Izcalli.

  • As a result of the operations, we will distribute a dividend paymentof Ps.0.3289 per CBFI for the period from April 1 to June 30, 2013.

For the complete report, please visit our website at http://www.terrafinafibra.com/
or contact our investor relations department

About the Company

Terrafina (BMV:TERRA13) is a Mexican real estate investment trust formed primarily to acquire, develop, lease and manage industrial real estate properties in Mexico. Terrafina's portfolio consists of attractive, strategically-located warehouses and other light manufacturing properties throughout the central, Bajio and northern regions of Mexico. It is internally managed by highly-qualified industry specialists, and externally advised by Prudential Real Estate Investors Latin America.

Terrafina owns 145 real estate properties, including 132 developed industrial facilities with a collective GLA of approximately 20.06 million square feet and 13 land reserve parcels, designed to preserve the organic growth capability of the portfolio.

Terrafina's objective is to provide attractive risk-adjusted returns for the holders of its certificates through stable distributions and capital appreciations. Terrafina aims to achieve this objective through a successful performance of its industrial real estate and complementary properties, strategic acquisitions, access to a high level of institutional support, and to its management and corporate governance structure.

Mexico City:
Manuel Pérez, +52 (55) 3601-0702
Investor Relations Officer
Francisco Navarro, +52 (55) 3601-0654
Chief Financial Officer
New York:
i-advize Corporate Communications, Inc.
Maria Barona, +1-212-406-3690
Lina Delgado, +1-212-406-3690

KEYWORDS: United States Mexico North America Central America New York


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