{"id":64820,"date":"2018-10-25T19:31:00","date_gmt":"2018-10-25T22:54:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/english-fibra-prologis-announces-third-quarter-2018-earnings-results\/"},"modified":"2018-10-25T19:32:03","modified_gmt":"2018-10-25T23:32:03","slug":"fibra-prologis-anuncia-sus-resultados-financieros-del-tercer-trimestre-de-2018","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/fibra-prologis-anuncia-sus-resultados-financieros-del-tercer-trimestre-de-2018\/","title":{"rendered":"FIBRA Prologis Announces Third Quarter 2018 Earnings Results"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen6{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:1.17em\n}\n.prngen4{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen7{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">MEXICO CITY<\/span>, <span class=\"xn-chron\">Oct. 25, 2018<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in <span class=\"xn-location\">Mexico<\/span>, today reported results for the third quarter of 2018. <\/p>\n<p><b>HIGHLIGHTS FROM THE QUARTER: <\/b><\/p>\n<ul type=\"disc\">\n<li>Period-end occupancy was 96.5 percent. <\/li>\n<li>Net effective rents on rollover increased 10.6 percent. <\/li>\n<li>Weighted average customer retention was 83.2 percent. <\/li>\n<\/ul>\n<p>Net earnings per CBFI in the third quarter was Ps. 0.9621 <span class=\"xn-money\">(US$0.0497)<\/span> compared with Ps. 0.7049 <span class=\"xn-money\">(US$0.0398)<\/span> for the same period in 2017. <\/p>\n<p>Funds from operations (FFO) per CBFI was Ps. 0.7817 <span class=\"xn-money\">(US$0.0402)<\/span> for the third quarter compared with Ps. 0.7508 <span class=\"xn-money\">(US$0.0423)<\/span> for the same period in 2017. <\/p>\n<p><b>STRONG OPERATING RESULTS<\/b><\/p>\n<p>&#8220;Despite unevenness in the financial and capital markets, the strong U.S. economy has been a key driver of demand in <span class=\"xn-location\">Mexico<\/span>,&#8221; said <span class=\"xn-person\">Luis Gutierrez<\/span>, CEO, Prologis Property Mexico. &#8220;The uncertainty surrounding the Mexican presidential election and NAFTA renegotiations prevented a resilient, healthy operating environment from reaching its potential\u2014now that there is greater clarity on these two fronts, we expect a scenario of accelerated growth.&#8221;<\/p>\n<p>Gutierrez added: &#8220;FIBRA Prologis delivered terrific operating and financial results in the third quarter, and we expect this to remain the case as logistics real estate demand continues its trajectory of outpacing the broader Mexican economy.&#8221; <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prntal prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating Portfolio <\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3Q18<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3Q17<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Notes<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Period End Occupancy\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen6 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.5%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.4%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Leases Commenced<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.0 MSF<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.2 MSF<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>82% of leasing activity related to renewals mainly in Mexico City and Guadalajara<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Customer Retention<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83.2%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">77.0%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net Effective Rent Change<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10.6%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10.9%<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Led by Juarez and Mexico City<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash Same Store NOI<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.7%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.7%<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Weaker peso and higher concessions related to longer term partly offset by higher rents<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Same Store NOI<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.0%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.6%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>SOLID FINANCIAL POSITION<\/b><\/p>\n<p>At <span class=\"xn-chron\">September 30, 2018<\/span>, FIBRA Prologis&#8217; leverage was 32.9 percent and liquidity was Ps. 5.8 billion (<span class=\"xn-money\">US$307.0 million<\/span>), which included Ps. 5.6 billion (<span class=\"xn-money\">US$296.0 million<\/span>) of available capacity on its unsecured credit facility and Ps. 207.4 million (<span class=\"xn-money\">US$11.0 million<\/span>) of unrestricted cash. <\/p>\n<p>&#8220;Our balance sheet strength remains a key competitive advantage with low leverage, healthy liquidity and no maturities until 2020,&#8221; said <span class=\"xn-person\">Jorge Girault<\/span>, senior vice president, Finance, Prologis Mexico. &#8220;Ensuring a flexible balance sheet, we are proactively working on addressing our medium- and long-term maturities.&#8221;<\/p>\n<p><b>GUIDANCE UPDATE<\/b><\/p>\n<p>&#8220;While rent change upon renewal and average occupancy have been very good, our cash same store NOI was impacted by a weaker peso and higher concessions due to longer lease terms,&#8221; added Girault. &#8220;As a result, we are adjusting our cash same store guidance accordingly. We are also providing FFO per CBFI to include the impact of the incentive fee recorded in the second quarter as well as associated incremental certificates to be issued in the fourth quarter.&#8221; <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbbs prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(US$ in million, except per CBFI amounts)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Previous<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Revised<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Notes<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Same Store NOI (Cash)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4.00%-5.00%<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.00%-4.00%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">FFO per CBFI<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$0.1550-0.1650<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">n\/a<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Excludes the impact of the incentive fee<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">FFO per CBFI<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">n\/a<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$0.1500-0.1600<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Includes the impact of the incentive fee<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>WEBCAST &amp; CONFERENCE CALL INFORMATION<\/b><\/p>\n<p>FIBRA Prologis will host a live webcast\/conference call to discuss quarterly results, current market conditions and future outlook. Here are the event details:<\/p>\n<ul type=\"disc\">\n<li><span class=\"xn-chron\">Friday, October 26, 2018<\/span>, at <span class=\"xn-chron\">8 a.m. CT<\/span>\/<span class=\"xn-chron\">9 a.m. ET<\/span> <\/li>\n<li>Live webcast at <a target=\"_blank\" href=\"http:\/\/www.fibraprologis.com\/\" rel=\"nofollow\">www.fibraprologis.com<\/a>, in the Investor Relations section, by clicking Events <\/li>\n<li>Dial in: +1 877 256 7020 or +1 973 409 9692 and enter Passcode 93296073.<\/li>\n<\/ul>\n<p>A telephonic replay will be available October 26\u2013 <span class=\"xn-chron\">November 2<\/span> at +1 855 859 2056 from the U.S. and <span class=\"xn-location\">Canada<\/span> or at +1 404 537 3406 from all other countries using conference code 93296073 and security code 31833. The replay will be posted in the Investor Relations section of the FIBRA Prologis website.<\/p>\n<p><b>ABOUT FIBRA PROLOGIS<\/b><\/p>\n<p>FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in <span class=\"xn-location\">Mexico<\/span>. As of <span class=\"xn-chron\">September 30, 2018<\/span>, FIBRA Prologis was comprised of 197 logistics and manufacturing facilities in six industrial markets in <span class=\"xn-location\">Mexico<\/span> totaling 34.9 million square feet (3.2 million square meters) of gross leasable area.<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p>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&#8217;s beliefs and assumptions made by management.\u00a0 Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;seeks,&#8221; &#8220;estimates,&#8221; variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.\u00a0 All statements that address operating performance, events or developments that we expect or anticipate will occur in the future \u2014 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 (&#8220;FIBRA&#8221;) 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 &#8220;Comisi\u00f3n Nacional Bancaria y de Valores&#8221; and\u00a0 the Mexican Stock Exchange by FIBRA Prologis under the heading &#8220;Risk Factors.&#8221; FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.<\/p>\n<p>Non-Solicitation &#8211; 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 <span class=\"xn-location\">the United States<\/span> 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.<\/p>\n<div id=\"prni_dvprnejpg746aleft\" style=\"WIDTH: 100%; TEXT-ALIGN: left\" dir=\"ltr\"><img decoding=\"async\" id=\"prnejpg746aleft\" title=\" \" border=\"0\" alt=\" \" align=\"middle\" src=\"https:\/\/mma.prnewswire.com\/media\/528012\/FIBRA__Logo.jpg\"\/><\/div>\n<p>Logo\u00a0&#8211; <a target=\"_blank\" href=\"https:\/\/mma.prnewswire.com\/media\/528012\/FIBRA__Logo.jpg\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/528012\/FIBRA__Logo.jpg<\/a> <\/p>\n<p>SOURCE  FIBRA Prologis<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">MEXICO CITY<\/span>, <span class=\"xn-chron\">Oct. 25, 2018<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in <span class=\"xn-location\">Mexico<\/span>, today reported results for the third quarter of 2018. <\/p>\n<p><b>HIGHLIGHTS FROM THE QUARTER: <\/b><\/p>\n<ul type=\"disc\">\n<li>Period-end occupancy was 96.5 percent. <\/li>\n<li>Net effective rents on rollover increased 10.6 percent. <\/li>\n<li>Weighted average customer retention was 83.2 percent&#8230;.<br \/>\n","protected":false},"author":1,"featured_media":64821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-64820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/64820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=64820"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/64820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/64821"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=64820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=64820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=64820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}