Parque Arauco reports a 25.3% growth in EBITDA and strengthens its expansion.

Parque Arauco has reported impressive results in its recent financial report, highlighting a notable growth in its EBITDA during the second quarter of 2024. With an increase of 25.3%, the company reached a total of US$54.626 million compared to the same period last year. This increase is a clear indication of the strong recovery and robust performance of its shopping centers, which have managed to adapt and grow in a changing market environment. Parque Arauco's total revenue also reflects a positive trend, with a 24.8% increase translating to $75.856 million. Sales have shown a remarkable improvement, rising by 19.2% to reach $722.830 million. This growth in sales coincides with a record occupancy rate for the shopping centers, which stands at 96.1% on a consolidated basis, surpassing the 95.8% recorded in the second quarter of 2023. These figures are not only encouraging for investors but also for consumers, who can enjoy a greater variety of retail offerings. The success of Parque Arauco is primarily attributed to its expansion and portfolio diversification strategy. Francisco Moyano, the company’s Corporate Manager of Administration and Finance, stated that efficient management of costs and expenses has been key, along with the addition of new assets in Colombia, which have significantly contributed to the positive results of the quarter. The Parque Arauco branch in Kennedy has been a focal point in this growth, with a 16.5% increase in sales. This growth has been driven by an increase in customer traffic, facilitated by improvements in connectivity and a resurgence of tourism in Chile. Additionally, the company has announced plans for the construction of the first integrated multifamily building in a shopping center in the country, with an investment of USD 60 million. This innovative project will not only diversify Parque Arauco's offerings but also attract new customers and potential tenants, which could translate into higher revenues in the future. The performance of the company's Outlet format also deserves mention, as it reported a 23.4% increase in sales, particularly highlighting Arauco Premium Outlet Buenaventura and Curauma, which saw outstanding growth of 31.5% and 43.6%, respectively. This growth in the outlet sector underscores Parque Arauco's ability to adapt to contemporary consumer trends, where shoppers seek unique offers and experiences. In Peru, Larcomar has been another key player in Parque Arauco's growth, showing a 19.9% increase in sales thanks to improvements made the previous year. The redevelopment of the space, which included the arrival of new brands like H&M, as well as the opening of a cinema and a food hall, has significantly enhanced the customer experience, attracting more visitors. The recovery time for the retail sector after the challenges posed by the pandemic seems to have come to an end, and Parque Arauco's results are a testament to this. The company has successfully capitalized on growth opportunities both in Chile and abroad, suggesting that its proactive and adaptive approach could continue to yield positive results in the future. The integration of innovative projects, such as the multifamily building in Kennedy, is a clear sign of the direction Parque Arauco is heading. The company is in constant search of new ways to attract consumers and maximize its offerings, which could solidify its position as a leader in the sector. In summary, Parque Arauco's results in the second quarter of 2024 not only reflect solid financial growth but also demonstrate the company's commitment to innovation and customer satisfaction. With ambitious plans and a continuous expansion strategy, Parque Arauco is well-positioned to face future challenges and continue its upward trajectory in the market.