Latest news with #Vesta
Globe and Mail
5 days ago
- Business
- Globe and Mail
Corporación Inmobiliaria Vesta Reports Second Quarter 2025 Earnings Results
Corporación Inmobiliaria Vesta S.A.B. de C.V., ('Vesta', or the 'Company') (BMV: VESTA; NYSE: VTMX), a leading industrial real estate company in Mexico, today announced results for the second quarter ended June 30, 2025. All figures included herein were prepared in accordance with International Financial Reporting Standards (IFRS), which differs in certain significant respects from U.S. GAAP. This information should be read in conjunction with, and is qualified in its entirety by reference to, Vesta's consolidated financial statements, including the notes thereto. Vesta's financial results are stated in US dollars unless otherwise noted. Q2 2025 Highlights Vesta delivered strong financial results for the second quarter 2025: total income reached US$ 67.3 million; a 6.8% year over year increase, while total income excluding energy reached US$ 65.4 million; a 7.3% increase compared to US$ 61.0 million in the second quarter 2024. Second quarter 2025 Adjusted NOI 1 margin and Adjusted EBITDA 2 margin reached 94.5% and 84.1%, respectively. Vesta FFO reached US$ 43.1 million for the second quarter 2025; a 12.9% increase compared to US$ 38.2 million in the second quarter 2024, while Vesta FFO per share reached US$ 0.050; a 16.6% year over year increase. Second quarter 2025 leasing activity reached 1.8 million sf: 411 thousand sf in new contracts with both existing and new Vesta tenants in the electronics, food and beverage and automotive sectors, and 1.4 million sf in lease renewals with an average weighted lease life of approximately five years. Vesta's second quarter 2025 total portfolio occupancy therefore was 92.3%, while stabilized and same-store occupancy reached 95.5% and 97.0%, respectively. Second quarter 2025 renewals and re-leasing reached 1.5 million sf with a trailing twelve-month weighted average spread of 13.7%. Same-store NOI increased by 1.9% year over year. During the second quarter 2025, Vesta acquired 128.4 acres of land in Guadalajara, representing 2.3 million square feet in buildable area. Also during the quarter, Vesta finalized its acquisition of 20.2 acres of land in Monterrey, representing a 449 thousand square foot buildable area, as was announced in the first quarter 2025. Vesta ended the second quarter 2025 with 1.3 million sf in current construction in progress; an estimated investment of approximately US$ 91.0 million with a projected yield on cost of 10.8%, in Querétaro and Monterrey. The Company expects to achieve its stated 2025 guidance and remains focused on the Vesta Route 2030 long-term strategy while navigating current uncertainty. Vesta paid US$ 17.4 million in dividends for the second quarter 2025 on July 15, 2025 , equivalent to PS$ 0.3796 per ordinary share. Vesta is pleased to announce the appointment of Rodrigo Cueto Bosch as Chief Investment Officer, effective on October 1, 2025 with the planned retirement of Guillermo Díaz, a founding executive whose contributions have been instrumental to the Company's growth. A structured leadership transition will ensure continuity and upholds Vesta's strategic objectives, alignment, and long-term organizational success. Mr. Cueto has considerable investment and Real Estate finance expertise with a proven track record of delivering results. He has been an integral part of Vesta's team since 2021, most recently as Senior Vice President of Finance and Capital Markets. 6 months Financial Indicators (million) Q2 2025 Q2 2024 Chg. % 2025 2024 Chg. % Total Rental Income 67.3 63.0 6.8 134.3 123.6 8.7 Total Revenues (-) Energy 65.4 61.0 7.3 130.3 120.7 7.9 Adjusted NOI 61.8 57.7 7.2 123.9 115.0 7.8 Adjusted NOI Margin % 94.5% 94.6% 95.1% 95.2% Adjusted EBITDA 55.0 50.4 9.0 110.3 101.1 9.1 Adjusted EBITDA Margin % 84.1% 82.7% 84.6% 83.7% EBITDA Per Share 0.0641 0.0569 12.6 0.1278 0.1141 12.0 Total Comprehensive Income 31.4 109.6 (71.3) 43.7 233.6 (81.3) Vesta FFO 43.1 38.2 12.9 88.1 78.6 12.1 Vesta FFO Per Share 0.0502 0.0431 1662.4 0.1021 0.0887 1501.0 Vesta FFO (-) Tax Expense 37.7 20.3 85.4 73.8 148.1 (50.2) Vesta FFO (-) Tax Expense Per Share 0.0439 0.0229 91.5 0.0855 0.1672 (48.9) Diluted EPS 0.0366 0.1237 (70.4) 0.0507 0.2638 (80.8) Shares (average) 858.3 886.6 (3.2) 863.0 885.7 (2.6) Second quarter 2025 total revenue reached US$ 67.3 million; a 6.8% year on year increase from US$ 63.0 million in the second quarter 2024. Total revenues excluding energy increased to US$ 65.4 million; a 7.3% year on year increase from US$ 61.0 million in 2024 due to US$ 5.3 million in new revenue-generating contracts and a US$ 2.0 million inflationary benefit on second quarter 2025 results. Second quarter 2025 Adjusted Net Operating Income (Adjusted NOI) increased 7.2% to US$ 61.8 million, compared to US$ 57.7 million in the second quarter 2024. The second quarter 2025 Adjusted NOI margin was 94.5%; a 7-basis-point year on year decrease due to higher costs related to rental income generating properties. Adjusted EBITDA for the quarter increased 9.0% to US$ 55.0 million, as compared to US$ 50.4 million in the second quarter 2024. The Adjusted EBITDA margin was 84.1%; a 137-basis-point increase primarily due to an 8.0% decrease in administrative expenses compared to last year´s quarter, reflecting Vesta's continued discipline related to expense control aligned with internal budgeting, while identifying further opportunities for cost savings throughout the organization. Second quarter 2025 Vesta funds from operations after tax (Vesta FFO (-) Tax Expense) increased to US$ 37.7 million, from US$ 20.3 million for the same period in 2024. Vesta FFO after tax per share was US$ 0.0439 for the second quarter 2025 compared with US$ 0.0229 for the same period in 2024, a 91.5% increase. This increase is due to a combination of higher EBITDA, lower interest expenses and lower taxes, as well as a decreased number of shares outstanding in the second quarter 2025. Second quarter 2025 Vesta FFO excluding current tax was US$ 43.1 million compared to US$ 38.2 million in the second quarter 2024 due to higher 2025 profit and lower interest expenses compared to the same period in 2024. Second quarter 2025 total comprehensive income was US$ 31.4 million, versus a US$ 109.6 million gain in the second quarter 2024, primarily due to lower gain on revaluation during the second quarter 2024. The total value of Vesta's investment property portfolio was US$ 3.9 billion as of June 30, 2025; a 4.4% increase compared to US$ 3.7 billion at the end of December 31, 2024. For a full version of Corporación Inmobiliaria Vesta Second Quarter 2025 Earnings Release, please visit: CONFERENCE CALL INFORMATION Conference Call Friday July 25, 2025 9:00 a.m. (Mexico City Time) 11:00 a.m. (Eastern Time) To participate in the conference call please connect via webcast or by dialing: Webcast: The replay will be available two hours after the call has ended and can be accessed from Vesta's IR website. About Vesta Vesta is a real estate owner, developer and asset manager of industrial buildings and distribution centers in Mexico. As of June 30, 2025, Vesta owned 231 properties located in modern industrial parks in 16 states of Mexico totaling a GLA of 41.7 million sf (3.9 million m2). Vesta has several world-class clients participating in a variety of industries such as automotive, aerospace, retail, high-tech, pharmaceuticals, electronics, food and beverage and packaging. For additional information visit: Note on Forward-Looking Statements This report may contain certain forward-looking statements and information relating to the Company and its expected future performance that reflects the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like 'believe,' 'anticipate,' 'expect,' 'envisages,' 'will likely result,' or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain; (vii) environmental uncertainties, including risks of natural disasters; (viii) risks related to any potential health crisis and the measures that governments, agencies, law enforcement and/or health authorities implement to address such crisis; and (ix) those additional factors discussed in reports filed with the Bolsa Mexicana de Valores and in the U.S. Securities and Exchange Commission. We caution you that these important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, including any financial guidance, whether as a result of new information, future events or otherwise except as may be required by law.
Business Wire
5 days ago
- Business
- Business Wire
Corporación Inmobiliaria Vesta Reports Second Quarter 2025 Earnings Results
MEXICO CITY--(BUSINESS WIRE)--Corporación Inmobiliaria Vesta S.A.B. de C.V., ('Vesta', or the 'Company') (BMV: VESTA; NYSE: VTMX), a leading industrial real estate company in Mexico, today announced results for the second quarter ended June 30, 2025. All figures included herein were prepared in accordance with International Financial Reporting Standards (IFRS), which differs in certain significant respects from U.S. GAAP. This information should be read in conjunction with, and is qualified in its entirety by reference to, Vesta's consolidated financial statements, including the notes thereto. Vesta's financial results are stated in US dollars unless otherwise noted. Q2 2025 Highlights Vesta delivered strong financial results for the second quarter 2025: total income reached US$ 67.3 million; a 6.8% year over year increase, while total income excluding energy reached US$ 65.4 million; a 7.3% increase compared to US$ 61.0 million in the second quarter 2024. Second quarter 2025 Adjusted NOI 1 margin and Adjusted EBITDA 2 margin reached 94.5% and 84.1%, respectively. Vesta FFO reached US$ 43.1 million for the second quarter 2025; a 12.9% increase compared to US$ 38.2 million in the second quarter 2024, while Vesta FFO per share reached US$ 0.050; a 16.6% year over year increase. Second quarter 2025 leasing activity reached 1.8 million sf: 411 thousand sf in new contracts with both existing and new Vesta tenants in the electronics, food and beverage and automotive sectors, and 1.4 million sf in lease renewals with an average weighted lease life of approximately five years. Vesta's second quarter 2025 total portfolio occupancy therefore was 92.3%, while stabilized and same-store occupancy reached 95.5% and 97.0%, respectively. Second quarter 2025 renewals and re-leasing reached 1.5 million sf with a trailing twelve-month weighted average spread of 13.7%. Same-store NOI increased by 1.9% year over year. During the second quarter 2025, Vesta acquired 128.4 acres of land in Guadalajara, representing 2.3 million square feet in buildable area. Also during the quarter, Vesta finalized its acquisition of 20.2 acres of land in Monterrey, representing a 449 thousand square foot buildable area, as was announced in the first quarter 2025. Vesta ended the second quarter 2025 with 1.3 million sf in current construction in progress; an estimated investment of approximately US$ 91.0 million with a projected yield on cost of 10.8%, in Querétaro and Monterrey. The Company expects to achieve its stated 2025 guidance and remains focused on the Vesta Route 2030 long-term strategy while navigating current uncertainty. Vesta paid US$ 17.4 million in dividends for the second quarter 2025 on July 15, 2025 , equivalent to PS$ 0.3796 per ordinary share. Vesta is pleased to announce the appointment of Rodrigo Cueto Bosch as Chief Investment Officer, effective on October 1, 2025 with the planned retirement of Guillermo Díaz, a founding executive whose contributions have been instrumental to the Company's growth. A structured leadership transition will ensure continuity and upholds Vesta's strategic objectives, alignment, and long-term organizational success. Mr. Cueto has considerable investment and Real Estate finance expertise with a proven track record of delivering results. He has been an integral part of Vesta's team since 2021, most recently as Senior Vice President of Finance and Capital Markets. 6 months Financial Indicators (million) Q2 2025 Q2 2024 Chg. % 2025 2024 Chg. % Total Rental Income 67.3 63.0 6.8 134.3 123.6 8.7 Total Revenues (-) Energy 65.4 61.0 7.3 130.3 120.7 7.9 Adjusted NOI 61.8 57.7 7.2 123.9 115.0 7.8 Adjusted NOI Margin % 94.5% 94.6% 95.1% 95.2% Adjusted EBITDA 55.0 50.4 9.0 110.3 101.1 9.1 Adjusted EBITDA Margin % 84.1% 82.7% 84.6% 83.7% EBITDA Per Share 0.0641 0.0569 12.6 0.1278 0.1141 12.0 Total Comprehensive Income 31.4 109.6 (71.3) 43.7 233.6 (81.3) Vesta FFO 43.1 38.2 12.9 88.1 78.6 12.1 Vesta FFO Per Share 0.0502 0.0431 1662.4 0.1021 0.0887 1501.0 Vesta FFO (-) Tax Expense 37.7 20.3 85.4 73.8 148.1 (50.2) Vesta FFO (-) Tax Expense Per Share 0.0439 0.0229 91.5 0.0855 0.1672 (48.9) Diluted EPS 0.0366 0.1237 (70.4) 0.0507 0.2638 (80.8) Shares (average) 858.3 886.6 (3.2) 863.0 885.7 (2.6) Expand Second quarter 2025 total revenue reached US$ 67.3 million; a 6.8% year on year increase from US$ 63.0 million in the second quarter 2024. Total revenues excluding energy increased to US$ 65.4 million; a 7.3% year on year increase from US$ 61.0 million in 2024 due to US$ 5.3 million in new revenue-generating contracts and a US$ 2.0 million inflationary benefit on second quarter 2025 results. Second quarter 2025 Adjusted Net Operating Income (Adjusted NOI) increased 7.2% to US$ 61.8 million, compared to US$ 57.7 million in the second quarter 2024. The second quarter 2025 Adjusted NOI margin was 94.5%; a 7-basis-point year on year decrease due to higher costs related to rental income generating properties. Adjusted EBITDA for the quarter increased 9.0% to US$ 55.0 million, as compared to US$ 50.4 million in the second quarter 2024. The Adjusted EBITDA margin was 84.1%; a 137-basis-point increase primarily due to an 8.0% decrease in administrative expenses compared to last year´s quarter, reflecting Vesta's continued discipline related to expense control aligned with internal budgeting, while identifying further opportunities for cost savings throughout the organization. Second quarter 2025 Vesta funds from operations after tax (Vesta FFO (-) Tax Expense) increased to US$ 37.7 million, from US$ 20.3 million for the same period in 2024. Vesta FFO after tax per share was US$ 0.0439 for the second quarter 2025 compared with US$ 0.0229 for the same period in 2024, a 91.5% increase. This increase is due to a combination of higher EBITDA, lower interest expenses and lower taxes, as well as a decreased number of shares outstanding in the second quarter 2025. Second quarter 2025 Vesta FFO excluding current tax was US$ 43.1 million compared to US$ 38.2 million in the second quarter 2024 due to higher 2025 profit and lower interest expenses compared to the same period in 2024. Second quarter 2025 total comprehensive income was US$ 31.4 million, versus a US$ 109.6 million gain in the second quarter 2024, primarily due to lower gain on revaluation during the second quarter 2024. The total value of Vesta's investment property portfolio was US$ 3.9 billion as of June 30, 2025; a 4.4% increase compared to US$ 3.7 billion at the end of December 31, 2024. For a full version of Corporación Inmobiliaria Vesta Second Quarter 2025 Earnings Release, please visit: CONFERENCE CALL INFORMATION Conference Call Friday July 25, 2025 9:00 a.m. (Mexico City Time) 11:00 a.m. (Eastern Time) To participate in the conference call please connect via webcast or by dialing: Webcast: The replay will be available two hours after the call has ended and can be accessed from Vesta's IR website. About Vesta Vesta is a real estate owner, developer and asset manager of industrial buildings and distribution centers in Mexico. As of June 30, 2025, Vesta owned 231 properties located in modern industrial parks in 16 states of Mexico totaling a GLA of 41.7 million sf (3.9 million m2). Vesta has several world-class clients participating in a variety of industries such as automotive, aerospace, retail, high-tech, pharmaceuticals, electronics, food and beverage and packaging. For additional information visit: Note on Forward-Looking Statements This report may contain certain forward-looking statements and information relating to the Company and its expected future performance that reflects the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like 'believe,' 'anticipate,' 'expect,' 'envisages,' 'will likely result,' or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain; (vii) environmental uncertainties, including risks of natural disasters; (viii) risks related to any potential health crisis and the measures that governments, agencies, law enforcement and/or health authorities implement to address such crisis; and (ix) those additional factors discussed in reports filed with the Bolsa Mexicana de Valores and in the U.S. Securities and Exchange Commission. We caution you that these important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, including any financial guidance, whether as a result of new information, future events or otherwise except as may be required by law.
Economic Key
14-07-2025
- Business
- Economic Key
El Mansour Development Partners with Vesta to Launch 'Fountain' – A Landmark Hotel-Style Residential Project in Mokattam
El Mansour Development has announced the signing of a strategic partnership agreement with Vesta to manage its new project, 'Fountain', the first fully serviced luxury apartment complex with a hotel-inspired concept in the Mokattam area. This strategic partnership aims to present a unique model of upscale living that meets the highest international standards. Mr. Amgad Mansour, CEO of El Mansour Development, stated that this successful partnership brings together the essential elements of success, as both companies possess strong investment advantages. El Mansour is known for its promising expertise and solid track record, while Vesta is a global company specialized in managing holiday homes and hotel-style units, with extensive experience in delivering high-quality hospitality services — ensuring an exceptional residential experience for Fountain residents. He added: 'We believe that true luxury lies in the details, and our partnership with Vesta reflects our vision of offering an exceptional residential experience that combines world-class hotel services with the privacy of luxury apartments. Fountain is not just a place to live — it's a lifestyle.' He further explained that 'Fountain' boasts a prime location in the heart of the upscale Mokattam district, near Al Nafoura Square, offering residents stunning views and easy access to key services and facilities. The project features fully furnished luxury apartments with elegant interior design, complemented by integrated hotel-style services, including 24/7 concierge and guest support, smart security systems, daily housekeeping, and a luxurious lobby. Dr. Ahmed Abd El Rasoul, Chief Commercial Officer at El Mansour Development , pointed out that the project offers ready-to-move-in apartments with super-luxury finishing and complete furnishing, saving clients time and effort. The strategic cooperation between El Mansour's real estate development expertise and Vesta's operational excellence guarantees a fully integrated project that is set to become a landmark in hotel-inspired residential projects in Mokattam. He added: 'Fountain introduces a new concept of luxury living in Mokattam, blending the comfort of residential apartments with the world-class services of high-end hotels. It features smart home systems, 24/7 security, and upscale amenities that offer residents a lifestyle centered around quality and sophistication.' تم نسخ الرابط
Time of India
01-07-2025
- Time of India
Gang cheating on marriage lure busted, ‘bride' among five arrested in Barwani
Barwani: Police arrested five members of a gang, including the 'bride', on Tuesday in a case of cheating in the name of marriage in Chachariya police station area of Barwani district. Chachariya police post in-charge Sanjay Sharma told TOI that, based on the complaint of Vesta Kalesh, a resident of Vardala in Sorwa police station area of Alirajpur district, the bride Asma, her husband Ramdas (a resident of Mordad), broker Kailash Chauhan (a resident of Amba Kheda in Khargone district), Ilam Singh Barde, and Hiralal Barde (both residents of Sirvel, Khargone) were arrested and produced before the court, from where they were sent to judicial custody. Police also recovered cash and ornaments totalling to Rs 1.15 lakh from the accused. According to the complaint, while working as a labourer in Gujarat, Kailash informed Vesta about a girl for the marriage of Vesta's younger brother, Nan Singh. Asma's husband Ramdas posed as her brother, while Ilam Singh played the role of her father. Hiralal provided a house for this marriage, said a police officer. Subsequently, Nan Singh married Asma according to tribal customs, and cash and ornaments valued at Rs 1.7 lakh was taken by them. After the marriage, the accused absconded on the pretext of going to buy goods and clothes. After this, Vesta filed a compliant and the five were arrested. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
The Hindu
27-06-2025
- Science
- The Hindu
Five famous space rocks
Asteroids are small, rocky objects that orbit the Sun. They are much smaller than planets and are sometimes called minor planets or planetoids. Most asteroids are found in the asteroid belt, a region between the orbits of Mars and Jupiter. Why do we have a special day to celebrate space rocks? On June 30, 1908, a massive explosion over Tunguska in Siberia flattened approximately 2,150 of forest. This was attributed to the airburst of a small asteroid or comet. In December 2016, the UN General Assembly officially designated June 30 as International Asteroid Day to educate the public about asteroid impact hazards. Let us now look at five famous asteroids. Ceres The largest object in the asteroid belt between Mars and Jupiter, Ceres holds the distinction of being the first to be discovered, in 1801 by Giuseppe Piazzi. With a diameter of approximately 940 km, it is so massive that it is now classified as a dwarf planet. Ceres has a rocky core and a mantle of water ice. Observations suggest there may be briny water below its surface. Scientists are especially interested in Ceres because it may hold important clues about the early solar system and the origin of water on Earth. Vesta Also known as 4 Vesta, this was formed about 4.56 billion years ago, shortly after the solar system began. This makes it one of the earliest bodies to solidify from the solar nebula. Vesta's age and structure provide crucial insights into planetary formation. NASA's Dawn mission visited the asteroid in 2011 to study this remarkable relic and understand how the early solar system evolved. Eros (433 Eros) Discovered in 1898, Eros is a near-Earth asteroid (NEA) about 34km long. It was the first to be orbited and landed on by a spacecraft: NEAR Shoemaker in 2000–2001. Eros is classified as an S-type asteroid, composed primarily of silicate rock. Its elongated shape and cratered surface provide valuable information about asteroid geology. Itokawa Itokawa is a small peanut-shaped near-Earth asteroid (NEA), just 535m in length. It became famous after Japan's Hayabusa mission successfully collected samples from its surface in 2010; the first such mission in history. Itokawa is a 'rubble pile' asteroid, composed of loose rocks held together by gravity, rather than a solid monolith. 2015 TC25 The smallest known asteroid is 2015 TC25, discovered in October 2015, and measures only about two meters in diameter; roughly the size of a small car. It is an E-type asteroid, known for its bright, reflective surface, and spins incredibly fast, completing one rotation every two minutes. Despite its tiny size, it was detected using ground-based telescopes, highlighting significant advances in observational astronomy.
