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    Jorge Vargas • GBM

    Jorge Vargas's questions to Grupo Aeroportuario del Pacifico SAB de CV (PAC) leadership

    Jorge Vargas's questions to Grupo Aeroportuario del Pacifico SAB de CV (PAC) leadership • Q1 2025

    Question

    Jorge Vargas from GBM asked if the Q1 EBITDA margin of 67.1% represents a new stable level or if further compression is likely, given the full recognition of the higher concession fee.

    Answer

    Executive Raul Musalem confirmed that the current EBITDA margin range of 66% to 67.5% is the new expected level for the year. He explained that returning to the previous 69-70% range would be difficult due to the permanent increase of the concession fee from 5% to 9%, which is now fully reflected in the P&L.

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    Jorge Vargas's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership

    Jorge Vargas's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership • Q4 2024

    Question

    Jorge Vargas from GBM asked about the dynamics that led to Vesta not meeting its CapEx deployment guidance for the year and whether an acceleration in spending should be expected in 2025.

    Answer

    CEO Lorenzo Dominique Berho Carranza stated that Vesta is not providing specific capital deployment guidance but confirmed the current development pipeline was carefully selected. He highlighted that Vesta will continue its disciplined approach to land acquisitions and capital deployment in line with its long-term plan. He also noted that the company is in a strong financial position with a new credit facility, providing ample resources for its capital strategy in the coming year.

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