FIBRA Prologis announces its results for the third quarter of 2021

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Posted: October 19, 2021 at 5:06 p.m. CDT|Update: 58 minutes ago

CITY OF MEXICO, October 19, 2021 / PRNewswire / – FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class A industrial buildings in Mexico, today released the results for the third quarter of 2021.

QUARTER HIGHLIGHTS:

  • The occupancy rate at the end of the period was 97%.
  • The net effective rents on renewal were 7.4%.
  • The weighted average customer retention was 63.2 percent.
  • The same store’s cash NOI was 12.5%.
  • Acquisition of two buildings for $ 35 million.

The net profit by CBFI was Ps. 2.1033 (US $ 0.1050) for the quarter compared to Ps. 1.7357 (US $ 0.0779) for the same period in 2020.

Funds From Operations (FFO), as modified by FIBRA Prologis by CBFI, was Ps. 0.8553 (US $ 0.0426) for the quarter compared to 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 Louis Gutierrez, President, Latin America, Prologis. “During the quarter, we announced two acquisitions of our limited partner, Prologis, which will strengthen our position in Juárez and Monterrey. We remain focused on achieving sustainable growth in an accretive manner. “

Operating portfolio

3Q21

3Q20

Remarks

End occupation period

97.0%

96.4%

Four of our six markets are above 95%

Leases started

1.3 MSF

3.8 MSF

41% of 3Q21 activity focused on
Mexico City, followed by Monterrey and
Guadalajara

Loyalty of the clientele

63.2%

98.3%

Some tenants have left due to lack of space or mergers and acquisitions

Change in net effective rent

7.4%

16.3%

Led by Tijuana, Mexico and Monterrey

Same store with NOI

12.5%

-6.0%

Led by fewer concessions, annual rent increases
and lower FX

Same NER NOI store

6.7%

2.4%

Led by annual rent increases and falling exchange rates

SOLID FINANCIAL POSITION

From September 30, 2021, the leverage of FIBRA Prologis was 28.1% and liquidity was around Ps. 10.1 billion ($ 495 million), which included Ps. 9.8 billion (480 million US dollars) available capacity on its unsecured credit facility and Ps. 304 million ($ 15 million) unaffected species.

WEB BROADCASTING AND CONFERENCE INFORMATION

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

  • Wednesday, October 20, 2021, To 9:00 a.m./10 a.m.ET.
  • Live webcast on www.fibraprologis.com, in the Investor Relations section, by clicking on Events.
  • Dial: +1 866 719-1816 or +1 778 560-2714 and enter the code 5283777.

A telephone replay will be available October 20 – October 27 at +1 800 585-8367 from the United States and Canada or +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 one of the leading owners and operators of Class A industrial buildings in Mexico. From September 30, 2021, FIBRA Prologis consisted 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

Statements contained in this press release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections regarding the industry and markets in which FIBRA Prologis operates, the beliefs of management and the assumptions made by management. Such statements involve uncertainties which could have a material impact on the financial results of FIBRA Prologis. Words such as “expect”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “estimate”, variations of these words and similar expressions are intended to identify these forward-looking statements, which generally are not historical in nature. All statements that deal with operational performance, events or developments that we anticipate or anticipate will occur in the future – including statements relating to growth in rents and occupancy, acquisition activity, development activity, disposal 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 that the expectations reflected in forward-looking statements are based on reasonable assumptions, we cannot guarantee that our expectations will be achieved and, therefore, actual results and results may differ materially from what is expressed or expected in these forward-looking statements. statements. Some of the factors that may affect results and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and exchange rate, (iii) increased or unforeseen competition for our properties, (iv) risks associated with acquisitions, disposals and development of properties, (v) maintenance of real estate investment trust (“FIBRA”) status and tax structuring , (vi) availability of financing and capital, the debt levels we maintain and our credit ratings, (vii) the risks associated with our investments (viii) environmental uncertainties, including the risks of natural catastrophes, ( ix) the risks associated with the coronavirus pandemic, and (x) the additional factors discussed in the reports filed with the “Comisión Nacional Bancaria y de Valores” and the Mexican Stock Exchange by FIBRA Prologis under the section “Risk factors”. FIBRA Prologis assumes no obligation to update any forward-looking statements appearing in this press release.

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

(PRNewsfoto / FIBRA Prologis)

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