MEXICO CITY, Oct. 19, 2021 /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 third quarter of 2021.

HIGHLIGHTS FROM THE QUARTER:

• Period-end occupancy was 97 percent.
• Net effective rents on rollover were 7.4 percent.
• Weighted average customer retention was 63.2 percent.
• Same store cash NOI was 12.5 percent.
• Acquisition of two properties for US$35 million.

Net earnings per CBFI was Ps. 2.1033 (US$0.1050) for the quarter compared with Ps. 1.7357 (US$0.0779) for the same period in 2020.

Funds from operations (FFO), as modified by FIBRA Prologis per CBFI, was Ps. 0.8553 (US$0.0426) for the quarter compared with Ps. 0.9699 (US$0.0434) for the same period in 2020.

SOLID OPERATING RESULTS

“Our third quarter operational and financial results continue to demonstrate the resilience of our business model,” said Luis Gutiérrez, president, Latin America, Prologis. “During the quarter, we announced two acquisitions from our sponsor, Prologis, that will enhance our position in Juarez and Monterrey. We remain focused on delivering sustainable growth in an accretive manner.”

STRONG FINANCIAL POSITION

As of September 30, 2021, FIBRA Prologis’ leverage was 28.1 percent and liquidity was approximately Ps. 10.1 billion (US$495 million), which included Ps. 9.8 billion (US$480 million) of available capacity on its unsecured credit facility and Ps. 304 million (US$15 million) of unrestricted cash.

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:

• Wednesday, October 20, 2021, 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: +1 866 719-1816 or +1 778 560-2714 and enter Passcode 5283777.

A telephonic replay will be available October 20 – October 27 at +1 800 585-8367 from the U.S. and Canada or at +1 416 621-4642 from all other countries using conference code 5283777. 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 September 30, 2021, FIBRA Prologis was comprised of 208 logistics and manufacturing facilities in six industrial markets in Mexico totaling 40.6 million square feet (3.8 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, (ix) risks related to the coronavirus pandemic, and (x) 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