{"id":72235,"date":"2019-10-16T19:55:00","date_gmt":"2019-10-16T23:52:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-fibra-prologis-announces-third-quarter-2019-earnings-results\/"},"modified":"2019-10-16T19:57:02","modified_gmt":"2019-10-16T23:57:02","slug":"fibra-prologis-anuncia-sus-resultados-financieros-del-tercer-trimestre-de-2019","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/fibra-prologis-anuncia-sus-resultados-financieros-del-tercer-trimestre-de-2019\/","title":{"rendered":"FIBRA Prologis Announces Third Quarter 2019 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.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.prngen6{\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.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnsbt1{\nBORDER-TOP:1pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr14{\nPADDING-RIGHT:1.17em\n}\n.prnpr4{\nPADDING-RIGHT:0.33em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnsbl1{\nBORDER-LEFT:1pt\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">MEXICO CITY<\/span>, <span class=\"xn-chron\">Oct. 16, 2019<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; FIBRA 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 2019. <\/p>\n<p><b>HIGHLIGHTS FROM THE QUARTER: <\/b><\/p>\n<ul type=\"disc\">\n<li>Period-end occupancy was 96.8 percent. <\/li>\n<li>Leasing volume was 779,888 square feet. <\/li>\n<li>Weighted average customer retention was 95.4 percent. <\/li>\n<li>Net effective rents on rollover decreased 1.4 percent. <\/li>\n<li>Same store cash NOI increased 2.4 percent.<\/li>\n<\/ul>\n<p>Net earnings per CBFI was Ps. 0.7087 <span class=\"xn-money\">(US$0.0367)<\/span> for the third quarter compared with Ps. 0.9621 <span class=\"xn-money\">(US$0.0497)<\/span> for the same period in 2018. <\/p>\n<p>Funds from operations (FFO) per CBFI was Ps. 0.7741 <span class=\"xn-money\">(US$0.0401)<\/span> for the third quarter compared with Ps. 0.7817 <span class=\"xn-money\">(US$0.0402)<\/span> for the same period in 2018. <\/p>\n<p><b>OPERATING PERFORMANCE<\/b><\/p>\n<p>&#8220;Despite solid performance, historically low leasing volume in the third quarter had a disproportionate impact on our operating results,&#8221; said Luis Guti\u00e9rrez, CEO, Prologis Property Mexico. &#8220;However, in October to-date, we have already commenced more leases than we had throughout the entire third quarter.&#8221;<\/p>\n<p>&#8220;Our ability to generate internal growth remains a key component of FIBRA Prologis&#8217; value,&#8221; added Guti\u00e9rrez. &#8220;Importantly, cash same store NOI increased 2.4 percent.&#8221;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating Portfolio <\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3Q19<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" 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>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 <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.8%<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96.5%<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Led by improvement in occupancy in Guadalajara, partly offset by decreases in Mexico City<\/i><\/span><\/p>\n<\/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=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.8 MSF<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.0 MSF<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Lowest leasing volume since IPO; 84% of leasing activity related to renewals.<\/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 nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95.4%<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83.2%<\/span><\/p>\n<\/td>\n<td class=\"prnsbt1 prnrbrs prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr14\"><\/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 nowrap=\"nowrap\" class=\"prnsbt1 prnrbrs prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1.4%)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10.6%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Driven by 0.3MSF of roll-downs in Guadalajara and Tijuana<\/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 nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.4%<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.7%<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>Driven by higher contractual rent escalators and lower bad debt, partly offset by a weaker peso<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>STRONG FINANCIAL POSITION<\/b><\/p>\n<p>FIBRA Prologis ended the third quarter with a leverage of 32.0 percent and liquidity of Ps. 6.8 billion (<span class=\"xn-money\">US$345.8 million<\/span>), which included Ps. 6.4 billion (<span class=\"xn-money\">US$325.0 million<\/span>) of available capacity on its unsecured credit facility and Ps. 409.9 million (<span class=\"xn-money\">US$20.8 million<\/span>) of unrestricted cash. <\/p>\n<p>&#8220;In the third quarter, we executed a floating-for-fixed interest rate swap on <span class=\"xn-money\">$240 million<\/span> at an all-in rate of 1.75%, replacing a swap that expired in July,&#8221; said <span class=\"xn-person\">Jorge Girault<\/span>, senior vice president, Finance, Prologis Property Mexico. &#8220;Our balance sheet continues to be in excellent shape with significant liquidity, low leverage and an attractive debt cost.&#8221; <\/p>\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\">Thursday, October 17, 2019<\/span>, at <span class=\"xn-chron\">9 a.m. CT<\/span>\/<span class=\"xn-chron\">10 a.m. ET<\/span> <\/li>\n<li>Live webcast at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2613774-1&amp;h=3689907616&amp;u=http%3A%2F%2Fwww.fibraprologis.com%2F&amp;a=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 7250339.<\/li>\n<\/ul>\n<p>A telephonic replay will be available <span class=\"xn-chron\">October 17 &#8211; October 24<\/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 7250339. 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, 2019<\/span>, FIBRA Prologis was comprised of 190 logistics and manufacturing facilities in six industrial markets in <span class=\"xn-location\">Mexico<\/span> totaling 34.8 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. 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. 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 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_dvprnejpgbfb6left\" style=\"WIDTH: 100%; TEXT-ALIGN: left\" dir=\"ltr\"><img decoding=\"async\" id=\"prnejpgbfb6left\" title=\" \" border=\"0\" alt=\" \" align=\"middle\" imagelabel=\"General\" src=\"https:\/\/mma.prnewswire.com\/media\/528012\/FIBRA__Logo.jpg\"\/><\/div>\n<p>Logo &#8211; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2613774-1&amp;h=2927770549&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F528012%2FFIBRA__Logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F528012%2FFIBRA__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. 16, 2019<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; FIBRA 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 2019. <\/p>\n<p><b>HIGHLIGHTS FROM THE QUARTER: <\/b><\/p>\n<ul type=\"disc\">\n<li>Period-end occupancy was 96.8 percent. <\/li>\n<li>Leasing volume was 779,888 square feet. <\/li>\n<li>Weighted average customer retention was 95.4 percent. <\/li>\n<li>Net effective rents on&#8230;<br \/>\n","protected":false},"author":1,"featured_media":72236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-72235","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\/72235","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=72235"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/72235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/72236"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=72235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=72235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=72235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}