MEXICO CITY, July 28, 2025 /PRNewswire/ -- FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today reported results for the second quarter 2025.
HIGHLIGHTS FROM THE QUARTER:
- Record net effective rents on rollover were 68.0 percent.
- Period-end and average occupancy were 97.7 and 98.2 percent, respectively.
- Customer retention was 86.0 percent.
- Same store cash NOI was 0.1 percent.
- Published our annual Impact and Sustainability report.
Net earnings per CBFI was Ps. 1.8021 (US$0.0915) for the quarter compared with Ps. 0.7770 (US$0.0470) for the same period in 2024.
Funds from operations (FFO), as modified by FIBRA Prologis per CBFI, was Ps. 1.1634 (US$0.0585) for the quarter compared with Ps0.8112 (US$0.0485) for the same period in 2024.
SOLID OPERATING RESULTS
"In the first half of the year, we delivered strong financial results and strong operational outperformance. Amid trade headwinds and evolving market dynamics, our strategic focus on resilient consumption-driven hubs and disciplined execution continues to drive sustainable growth and long-term value for our stakeholders," said Héctor Ibarzábal, CEO of FIBRA Prologis.
Operating Portfolio | 2Q25 | 2Q24 | 2Q25 Notes |
Period End Occupancy | 97.7 % | 98.4 % | Five markets above 96%. |
Average Occupancy | 98.2 % | 98.6 % | Above 97% since 2Q21. |
Leases Commenced | 2.1 MSF | 1.3 MSF | The activity was concentrated mainly in |
Customer Retention | 86.0 % | 65.8 % | |
Net Effective Rent Change | 68.0 % | 58.1 % | Led by Monterrey, Mexico City and |
Same Store Cash NOI | 0.1 % | 11.9 % | Led mainly by rent change and annual |
Same Store Net Effective NOI | 5.0 % | 11.2 % | Led by rent change and annual rent |
As a reminder, FIBRA Terrafina was managed by a third party through November 30, 2024. As such, some metrics only include FIBRA Terrafina activity after December 1, 2024. |
FINANCIAL POSITION
As of June 30, 2025, FIBRA Prologis' leverage was 22.8 percent and liquidity was approximately Ps. 21.5 billion (US$1.1 billion), which included Ps. 19.7 billion (US$1.0 billion) of available capacity on its unsecured credit facility and Ps. 1.8 billion (US$97 million) of unrestricted cash.
UPDATED GUIDANCE FOR 2025
(US$ in million, except per | Previous | New | |||
FX = Ps$20.5 per US$1.00 | Low | High | Low | High | Notes |
FFO per CBFI | US$0.2000 | US$0.2200 | US$0.2200 | US$0.2400 | Excludes the impact of |
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:
- Tuesday, July 29, 2025, at 9 a.m. Mexico Time.
- Access the live webcast at www.fibraprologis.com, in the Investor Relations section, by clicking Events.
- Dial in: +1 888 596 4144 or +1 646 968 2525 and enter Passcode 4603995.
A telephonic replay will be available July 29 - August 5 at +1 800 770 2030 from the U. S. and Canada or at +1 647 362 9199 from all other countries using conference code 4603995. 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 June 30, 2025, the company's portfolio comprised 507 Investment Properties, totaling 87.0 million square feet (8.1 million square meters). This includes 345 logistics and manufacturing facilities across 6 industrial core markets in Mexico, comprising 65.5 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) and 162 buildings with 21.5 million square feet (1.9 million square meters) of non-strategic assets in other markets.
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, expected distributions, and 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, trade relations, 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 global pandemics, 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.
SOURCE FIBRA Prologis
