Financial Performance - Total revenues for Q3 2025 reached $12,884,516, a 14.3% increase from $11,272,630 in Q3 2024[3] - Profit before taxes for Q3 2025 was $8,492,128, a 17.9% increase from $7,199,040 in Q3 2024[3] - The company reported a profit for the period of $5,234,841 in Q3 2025, compared to $4,833,469 in Q3 2024, marking an 8.3% increase[3] - The company reported a total comprehensive income of $9,814,734 for Q3 2025, compared to $4,601,931 in Q3 2024, indicating a significant increase of 113.5%[3] - For the nine months ended September 30, 2025, the company reported a profit of $5,180,574, a significant improvement compared to a loss of $29,194,657 in the same period of 2024[9] Revenue and Income - Rental revenue for the nine months ended September 30, 2025, was $35,525,708, up 9.1% from $32,547,117 in the same period of 2024[3] - Rental income for the nine months ended September 30, 2025, was $31,286,067, compared to $29,022,101 for the same period in 2024, reflecting a year-over-year increase of about 7.8%[59] Assets and Liabilities - Total assets as of September 30, 2025, amounted to $667,005,572, up from $607,019,578 as of December 31, 2024, representing a 9.9% growth[5] - Total liabilities increased to $358,995,301 as of September 30, 2025, compared to $336,218,160 at the end of 2024, a rise of 6.4%[5] - The company’s equity attributable to owners increased to $244,060,461 as of September 30, 2025, from $228,964,876 at the end of 2024, reflecting a growth of 6.7%[6] - As of September 30, 2025, total equity increased to $308,010,271, up from $270,801,418 as of December 31, 2024, reflecting a growth of approximately 13.7%[7] Cash Flow and Expenditures - Net cash provided by operating activities for the nine months ended September 30, 2025, was $14,753,452, slightly up from $14,375,585 in 2024[9] - The company incurred capital expenditures on investment properties amounting to $21,651,846 for the nine months ended September 30, 2025, compared to $14,088,932 in 2024[9] - The company experienced a net cash decrease of $10,836,272 in cash and cash equivalents, ending the period with $17,991,075 compared to $31,394,469 in 2024[9] Debt and Financing - Long-term debt borrowing increased to $21,000,000 in 2025 from $13,091,001 in 2024, indicating a strategy to leverage financing[9] - The total debt of the Company was $280,621,985, an increase from $265,885,799 as of December 31, 2024, representing a growth of approximately 5.5%[12] - The Company entered into a new mortgage loan with BBVA Peru on December 15, 2023, for $60,000,000, with Tranche A at a fixed interest rate of 8.5% and Tranche B at 8.4%, maturing in 10 years[114] Shareholder Equity and Transactions - The number of ordinary shares increased to 31,897,657 as of September 30, 2025, from 31,799,747 as of December 31, 2024, indicating a slight increase in share issuance[7] - The Company repurchased 249,194 Ordinary Shares at an average price of $8.15 per share, totaling $2,030,381 for the nine months ended September 30, 2025[130] - The Company recognized share-based payment expenses related to RSUs of $419,135 and $1,655,468 for the three and nine months ended September 30, 2025, respectively[142] Investment Properties - The acquisition of investment properties amounted to $197,155, contributing to the company's asset base[7] - The segment investment properties as of September 30, 2025, totaled $624,598,614, up from $554,518,864 as of December 31, 2024, representing an increase of approximately 12.6%[75] - The Company acquired two operating investment properties in Mexico for a total consideration of $19,900,847, which includes a fair value of $19,715,124 for the properties and $185,723 in transaction costs[94] Tax and Compliance - The effective tax rate for the nine months ended September 30, 2025, was 55.8%, significantly higher than the effective tax rate of (27.0)% for the same period in 2024[135] - The Company was compliant with all debt covenants with its lenders as of September 30, 2025[127] Other Financial Metrics - The average exchange rate for the Colombian Peso (COP) against the USD for the nine months ended September 30, 2025, was COP 4,132, compared to COP 3,979 in 2024, reflecting currency fluctuations impacting operations[22] - The risk-adjusted discount rate for operating properties was 10.6% as of September 30, 2025, compared to 10.5% in 2024, indicating a slight increase in perceived risk[89]
Logistic Properties of the Americas(LPA) - 2025 Q3 - Quarterly Report