MEXICO CITY, April 22, 2020 /PRNewswire-HISPANIC PR WIRE/ — FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today reported results for the first quarter of 2020.

HIGHLIGHTS FROM THE QUARTER:

• Period-end occupancy was 96.8 percent.
• Net effective rents on rollover increased 6.6 percent.
• Weighted average customer retention was 94.9 percent.
• Same store cash NOI decreased 0.2 percent.
• Completed subscription rights offering raised Ps.8.3 billion (US$378.5 million).

Net earnings per CBFI was Ps. (0.4833) (US$(0.0220)) for the quarter compared with Ps. 1.0478 (US$0.0538) for the same period in 2019.

Funds from operations (FFO) per CBFI was Ps. 0.8954 (US$0.0479) for the quarter compared with Ps. 0.8717 (US$0.0447) for the same period in 2019.

STRONG OPERATING RESULTS CONTINUE

“FIBRA Prologis had another stellar quarter as evidenced by our operating and financial results,” said Luis Gutierrez, CEO, Prologis Property Mexico. “In March, we completed a subscription rights offering, issuing 200 million new certificates, raising Ps8.3 billion. The offering was oversubscribed and the proceeds were used early in the second quarter to acquire Prologis Park Grande, the premier logistics park in Mexico City, from our sponsor, Prologis.”

Gutierrez added: “Understandably, in light of COVID-19, our focus is on keeping our people safe, making sure our customers’ needs are understood and taken care of, and dedicating resources and time to helping those impacted by the pandemic.”

SOLID FINANCIAL POSITION

At March 31, 2020, FIBRA Prologis’ leverage was 18.6 percent and liquidity was Ps. 16.1 billion (US$663.0 million), which included Ps. 7.9 billion (US$325.0 million) of available capacity on its unsecured credit facility and Ps. 8.2 billion (US$338.3 million) of unrestricted cash.

GUIDANCE UPDATE

“Our balance sheet has never been in better shape with low leverage, significant liquidity and no debt maturities until 2022,” said Jorge Girault, senior vice president, Finance, Prologis Property Mexico. “Following the successful conclusion of our rights offering and our acquisition of Prologis Park Grande and, importantly, the expected disruption related to the COVID-19 pandemic, we are adjusting our guidance to reflect the near-to-medium term uncertainty.”

WEBCAST & CONFERENCE CALL INFORMATION

FIBRA Prologis will host a live webcast/conference call to discuss quarterly results, current market conditions and future outlook. Here are the event details:

• Thursday, April 23, 2020, at 9 a.m. CT/10 a.m. ET.
• Live webcast at www.fibraprologis.com, in the Investor Relations section, by clicking Events.
• Dial in: +1 877 256 7020 or +1 973 409 9692 and enter Passcode 6198732.

A telephonic replay will be available January 23–January 30 at +1 855 859 2056 from the U.S. and Canada or at +1 404 537 3406 from all other countries using conference code 6198732. The replay will be posted in the Investor Relations section of the FIBRA Prologis website.

ABOUT FIBRA PROLOGIS

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of March 31, 2020, FIBRA Prologis was comprised of 191 logistics and manufacturing facilities in six industrial markets in Mexico totaling 34.9 million square feet (3.2 million square meters) of gross leasable area.

FORWARD-LOOKING STATEMENTS

The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management’s beliefs and assumptions made by management.  Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.  All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in 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) maintenance of real estate investment trust (“FIBRA”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, and (ix) those additional factors discussed in reports filed with the “Comisión Nacional Bancaria y de Valores” and  the Mexican Stock Exchange by FIBRA Prologis under the heading “Risk Factors.” FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.

Non-Solicitation – Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.

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SOURCE FIBRA Prologis

ATLANTA, April 21, 2020 /PRNewswire-HISPANIC PR WIRE/ — The Home Depot^®, the world’s largest home improvement retailer, today announced that it will hold its 2020 Annual Meeting of Shareholders virtually due to the public health impact of the COVID-19 pandemic and to support the health and well-being of its shareholders, associates, directors, and the community.

The Annual Meeting will be held on the same date and time as originally scheduled: Thursday, May 21, 2020 at 9:00 a.m., Eastern Time. Online access to the meeting will begin at 8:45 a.m., Eastern Time. Shareholders will not be able to attend the meeting in person. Any updates will be posted at https://ir.homedepot.com/shareholder-services/annual-meeting prior to the meeting date.

The Home Depot also announced that it plans to return to a physical, in-person meeting format next year for its 2021 Annual Meeting of Shareholders.

Attending the Virtual Annual Meeting

Shareholders of record as of the close of business on March 23, 2020, the record date, or “street name” holders that hold a legal proxy, broker’s proxy card or voting information form provided by their bank, broker or nominee, can attend the meeting by accessing www.virtualshareholdermeeting.com/HD2020 and entering the 16-digit control number included in the proxy materials previously received. Please note that the www.virtualshareholdermeeting.com/HD2020 web page will not be active until approximately two weeks before the meeting date.

Asking Questions

Shareholders may submit questions in two ways. If they wish to submit a question before the meeting, then beginning on April 22, 2020, until the meeting, they may log into www.proxyvote.com and enter their 16-digit control number. Once past the login screen, click on “Question for Management,” type in the question, and click “Submit.” Alternatively, shareholders will be able to submit questions live during the meeting by accessing the meeting at www.virtualshareholdermeeting.com/HD2020 using their 16-digit control number, typing the question into the “Ask a Question” field, and clicking submit.

Only questions pertinent to meeting matters will be answered during the meeting, subject to time constraints. Questions regarding personal matters, including those related to employment, product or service issues, or suggestions for product innovations, are not pertinent to meeting matters and therefore will not be answered. Questions that are substantially similar may be grouped and answered together to avoid repetition.

If we are unable to answer your question during the meeting due to time constraints, you are encouraged to contact The Home Depot Investor Relations department at [email protected].

Voting Shares at the Virtual Meeting

Shareholders who have not voted their shares prior to the meeting or who wish to change their vote will be able to vote their shares electronically at the meeting by clicking “Vote Here” on the meeting website.

Whether or not shareholders plan to attend the meeting, they are encouraged to vote their shares prior to the meeting by one of the methods described in the proxy materials previously provided. Shareholders may continue to use the proxy materials they previously received to vote their shares in connection with the meeting.

Shareholders who have already voted do not need to vote again.

Accessing the List of Shareholders Entitled to Vote

An electronic list of the shareholders of record as of the record date will be available for examination by shareholders at www.virtualshareholdermeeting.com/HD2020 during the meeting, along with the proxy materials for the meeting. Shareholders will need to enter their 16-digit control number to access the shareholder list. Information on how to access the list of shareholders from May 11, 2020 until the meeting is available at https://ir.homedepot.com/shareholder-services/annual-meeting.

Attending the Virtual Meeting as a Guest

If you do not have a 16-digit control number, you may still attend the meeting as a guest in listen-only mode. To attend as a guest, please access www.virtualshareholdermeeting.com/HD2020 and enter the information requested on the screen to register as a guest. Please note that you will not have the ability to ask questions, vote or examine the list of shareholders during the meeting if you participate as a guest.

About The Home Depot

The Home Depot is the world’s largest home improvement specialty retailer, with 2,292 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2019, The Home Depot had sales of $110.2 billion and earnings of $11.2 billion. The Company employs more than 400,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

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SOURCE HOME DEPOT