FIBRA Prologis Announces Fourth Quarter and Full Year 2020 Earnings Results

MEXICO CITY, Jan. 27, 2021 /PRNewswire/ — FIBRA Prologis (BMV:FIBRAPL 14), a number one proprietor and operator of Class-A industrial actual property in Mexico, at present reported outcomes for the fourth quarter and full 12 months 2020.

HIGHLIGHTS FROM THE YEAR:

• Leases commenced have been 12.5 million sq. ft
• Interval-end occupancy was 97.1%
• Internet efficient lease on rollovers elevated 12.4%
• Weighted common buyer retention was 87.1%
• Similar retailer money NOI decreased 4.7%
• Acquired US$438 million of Class-A properties

Internet earnings per CBFI was Ps. 3.2891 (US$0.1576) for the quarter in contrast with Ps. 0.8332 (US$0.0419) for a similar interval in 2019. For the total 12 months 2020, internet earnings per CBFI was Ps. 4.4111 (US$0.2091).

Funds from operations (FFO) per CBFI as outlined by FIBRA Prologis was Ps. 0.8164 (US$0.0380) for the quarter in contrast with Ps. 0.7465 (US$0.0374) for a similar interval in 2019. For the total 12 months 2020, FFO per CBFI was Ps.3.5937 (US$0.1663).

STRONG OPERATING RESULTS CONTINUE

“Our 2020 monetary and working efficiency exceeded our expectations many instances over,” mentioned Luis Gutiérrez, CEO, Prologis Property Mexico. “Regardless of the tragic results of the worldwide pandemic and its influence on the Mexican financial system, we delivered 12.4 p.c lease change on rollover and added 5.3 million sq. ft by accretive acquisitions, enhancing our place in Mexico Metropolis, Monterrey Ciudad Juarez and Guadalajara.”

SOLID FINANCIAL POSITION

At December 31, 2020, FIBRA Prologis’ leverage was 29.0 p.c and liquidity was Ps. 6.9 billion (US$347.0 million), which included Ps. 6.5 billion (US$325.0 million) of accessible capability on its unsecured credit score facility and Ps. 434.4 million (US$21.8 million) of unrestricted money.

“A big testomony to our dedication to ESG, the completion of our $375 million inexperienced bond providing bolstered our steadiness sheet to its strongest stage in our historical past” mentioned Jorge Girault, senior vp, Finance, Prologis Property Mexico. “With well-laddered maturities, a low debt price and vital liquidity, we’re in stable place to be opportunistic in 2021.”

GUIDANCE ESTABLISHED FOR 2021

WEBCAST & CONFERENCE CALL INFORMATION

FIBRA Prologis will host a dwell webcast/convention name to debate quarterly outcomes, present market circumstances and future outlook. Listed here are the occasion particulars:

• Thursday, January 28, 2021, at 9 a.m. CT/10 a.m. ET.
• Reside webcast at www.fibraprologis.com, within the Investor Relations part, by clicking Information & Occasions.
• Dial in: +1 833 714-0919 (U.S. and Canada), 01 800 853 0237 (Mexico) or +1 778 560-2663 (all different international locations) and enter Passcode 3157918.

A telephonic replay might be accessible January 28–February 3 at +1 800 585-8367  from the U.S. and Canada or at +1 416 621-4642 from all different international locations utilizing convention code 3157918. The replay might be posted within the Investor Relations part of the FIBRA Prologis web site.

ABOUT FIBRA PROLOGIS

FIBRA Prologis is a number one proprietor and operator of Class-A industrial actual property in Mexico. As of December 31, 2020, FIBRA Prologis was comprised of 205 logistics and manufacturing services in six industrial markets in Mexico totaling 40.2 million sq. ft (3.7 million sq. meters) of gross leasable space.

FORWARD-LOOKING STATEMENTS

The statements on this launch that aren’t historic details are forward-looking statements. These forward-looking statements are based mostly on present expectations, estimates and projections concerning the business and markets during which FIBRA Prologis operates, administration’s beliefs and assumptions made by administration.  Such statements contain uncertainties that might considerably influence FIBRA Prologis monetary outcomes. Phrases similar to “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such phrases and comparable expressions are meant to determine such forward-looking statements, which usually will not be historic in nature.  All statements that handle working efficiency, occasions or developments that we anticipate or anticipate will happen sooner or later — together with statements referring to lease and occupancy development, acquisition exercise, improvement exercise, disposition exercise, common circumstances within the geographic areas the place we function, our debt and monetary place, are forward-looking statements. These statements will not be ensures of future efficiency and contain sure dangers, uncertainties and assumptions which are tough to foretell. Though we imagine the expectations mirrored in any forward-looking statements are based mostly on affordable assumptions, we may give no assurance that our expectations might be attained and due to this fact, precise outcomes and outcomes might differ materially from what’s expressed or forecasted in such forward-looking statements. A number of the elements that will have an effect on outcomes and outcomes embrace, however will not be restricted to: (i) nationwide, worldwide, regional and native financial climates, (ii) adjustments in monetary markets, rates of interest and overseas foreign money change charges, (iii) elevated or unanticipated competitors for our properties, (iv) dangers related to acquisitions, tendencies and improvement of properties, (v) upkeep of actual property funding belief (“FIBRA”) standing and tax structuring, (vi) availability of financing and capital, the degrees of debt that we preserve and our credit score rankings, (vii) dangers associated to our investments (viii) environmental uncertainties, together with dangers of pure disasters, (ix) dangers associated to the coronavirus pandemic, and (x) these extra elements mentioned in stories filed with the “Comisión Nacional Bancaria y de Valores” and  the Mexican Inventory Trade by FIBRA Prologis below the heading “Threat Elements.” FIBRA Prologis undertakes no obligation to replace any forward-looking statements showing on this launch.

Non-Solicitation – Any securities mentioned herein or within the accompanying displays, if any, haven’t been registered below the Securities Act of 1933 or the securities legal guidelines of any state and might not be provided or bought in the US absent registration or an relevant exemption from the registration necessities below the Securities Act and any relevant state securities legal guidelines. Any such announcement doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase the securities mentioned herein or within the displays, if and as relevant.

SOURCE FIBRA Prologis

Associated Hyperlinks

http://www.fibraprologis.com