Rental revenue
Colombia 2,068 2,226 (7.1)%
Peru 2,983 2,360 26.4%
Costa Rica 6,122 5,589 9.5%
Unallocated revenue 100 39 154.2%
---------- ---------- --------
Total revenue 11,273 10,214 10.4%
Investment Property Operating
Expenses
(amounts expressed in
thousand dollars, unless
otherwise noted)
Three months ended September 30
-----------------------------------------
2024 2023 % Chg.
--------- --------- -----------
Investment property operating
expense
Colombia (310) (261) 18.6%
Peru $(566.SI)$ (423) 34.0%
Costa Rica (741) (825) (10.2%)
--------- --------- -------
Total Investment Property
Operating expense (1,617) (1,509) 7.1%
Operating Performance
(amounts expressed in
thousand dollars, unless
otherwise noted)
Three months ended September 30
---------------------------------------
2024 2023 % Chg.
--------- --------- ------------
Total revenues 11,273 10,214 10.4%
Total investment property
operating expense (1,617) (1,509) 7.1%
General and administrative (4,751) (2,520) 88.5%
Investment property valuation
gain 8,175 9,826 (16.8)%
Interest income from
affiliates -- 160 (100.0)%
Financing costs (5,797) (5,647) 2.7%
Net foreign currency gain 49 13 261.6%
Other income 1,105 32 NM
Other expenses (1,238) (3,345) (63.0)%
Profit before taxes 7,199 7,224 (0.4)%
Income tax expense (2,366) (4,853) (51.3)%
--------- --------- --------
PROFIT FOR THE PERIOD 4,833 2,371 103.8%
NM- not meaningful
Supplemental Information
Please refer to LPA's quarterly Supplemental Information and Management Discussion and Analysis, both which are available on the Company's Investor Relations website at https://ir.lpamericas.com
3Q24 Earnings Conference Call
When: November 14, 2024, 9:00 a.m. Eastern Time
Who: Mr. Esteban Saldarriaga, Chief Executive Officer, Mr. Paul Smith, Chief Financial Officer, Ms. Annette Fernandez, Chief Operating Officer, and Mr. Camilo Ulloa, Investor Relations
Dial-in: +1 800 343 5172 (Toll-Free), +1 203 518 9843 (International)
Passcode: LPA3Q24
Pre-Register: You may pre-register at any time: here. Callers will need to press # to be connected to an operator to access LPA's financial results conference call via telephone.
Webcast: click here
The call recording will also be available for replay on LPA's website for a limited time.
About Logistic Properties of the Americas
Logistic Properties of the Americas is a leading developer, owner, and manager of institutional quality industrial and logistics real estate in high-growth and high-barrier-to-entry markets in Central and South America. LPA's customers are multinational and regional e-commerce retailers, third-party logistic operators, business-to-business distributors, and retail distribution companies among others. LPA expects its strong customer relationships and insight to enable future growth through the development and acquisition of high-quality, strategically located facilities in its target markets. As of September 30, 2024, LPA's operating and development portfolio was comprised of 31 logistics facilities in Costa Rica, Peru and Colombia totaling more than 491,000 square meters (or approximately 5.3 million square feet) of gross leasable area. For more information visit https://ir.lpamericas.com.
Forward-Looking Statements
This press release contains certain forward-looking information, which may not be included in future public filings or investor guidance. The inclusion of forward-looking information in this press release should not be construed as a commitment by LPA to provide guidance on such information in the future. Certain statements in this press release may be considered forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements about future events or LPA's future financial or operating performance. These forward-looking statements regarding future events and the future results of LPA are based on current expectations, estimates, forecasts, and projections about the industry in which LPA operates, as well as the beliefs and assumptions of LPA's management. These forward-looking statements are only predictions and are subject to known and unknown risks, uncertainties, assumptions and other factors beyond LPA's control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, LPA's actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and LPA therefore caution against relying on any of these forward-looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by LPA and its management, are inherently uncertain and are inherently subject to risks variability and contingencies, many of which are beyond LPA's control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the possibility of any economic slowdown or downturn in real estate asset values or leasing activity or in the geographic markets where LPA operates; (ii) LPA's ability to manage growth; (iii) LPA's ability to continue to comply with applicable listing standards of NYSE American; (iv) changes in applicable laws, regulations, political and economic developments; (v) the possibility that LPA may be adversely affected by other economic, business and/or competitive factors; (vi) LPA's estimates of expenses and profitability; (vii) the outcome of any legal proceedings that may be instituted against LPA and (viii) other risks and uncertainties set forth in the filings by LPA with the U.S. Securities and Exchange Commission. There may be additional risks that LPA does not presently know or that LPA currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of LPA speak only as of the date they are made. Except as otherwise required by applicable law, LPA disclaims any obligation to publicly update or revise any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. Accordingly, you should not place undue reliance on forward-looking statements due to their inherent uncertainty.
Nothing within this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241113043557/en/
CONTACT: Investor Relations
Camilo Ulloa
Logistic Properties of the Americas
+506 6293 9083
camilo@lpamericas.com
Barbara Cano/Ivan Peill
InspIR Group
barbara@inspirgroup.com / ivan@inspirgroup.com
(END) Dow Jones Newswires
November 13, 2024 21:15 ET (02:15 GMT)
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