FIBRA Prologis Reports Impressive 2024 Earnings Results
In a recent announcement, FIBRA Prologis (BMV:FIBRAPL 14), a top operator of Class-A industrial real estate, showcased its remarkable performance for 2024. With a strategic focus on growth, the company reported significant achievements in net effective rents, occupancy rates, and customer retention.
Highlights of the Year
Throughout the year, FIBRA Prologis made substantial gains, including:
Acquisition Successes
The company acquired nearly 90 percent of outstanding shares of FIBRA Terrafina, marking a major milestone for growth. This strategic acquisition allowed them to expand their operational capacity significantly.
Rental and Occupancy Metrics
FIBRA Prologis reported net effective rents on roll-over at an impressive 55.4 percent, which reflects their strong market position. Additionally, period-end occupancy reached 98.3 percent, while average occupancy hovered at 98.1 percent, revealing the demand for their properties.
Customer Satisfaction and Financial Metrics
Despite the challenges in the economic landscape, the company achieved a customer retention rate of 71.6 percent—an indicator of their commitment to tenant satisfaction. Furthermore, same store cash NOI experienced growth at 8.4 percent, underscoring effective management strategies.
Financial Performance Review
Net earnings per CBFI showed a positive trajectory, with figures rising to Ps. 3.8692 (US$0.1816) for the quarter, compared to Ps. 3.1136 (US$0.1770) in the same period last year. For the full fiscal period, net earnings per CBFI increased to Ps. 17.1978 (US$0.9136) vs. Ps. 13.6338 (US$0.7761) in 2023.
Robust Financial Position for Future Growth
As of the end of 2024, FIBRA Prologis maintained a strong financial leverage of only 18.1 percent, and liquidity stood at around Ps. 9.4 billion (US$457 million). This includes an available credit capacity that positions them well for upcoming ventures, with Ps. 8.3 billion (US$405 million) accessible through unsecured credit facilities.
Guidance for 2025
Looking ahead, FIBRA Prologis has set optimistic goals for 2025. They anticipate that FFO per CBFI could reach between US$0.2000 to US$0.2200. This projection reflects their confidence in ongoing operational efficiencies and market demand.
Webcast and Conference Call
The company will hold a live webcast on February 25, 2025, to discuss their quarterly results and address market conditions and future prospects. Interested parties can access the event through their website.
About FIBRA Prologis
FIBRA Prologis is recognized as a leader in Class-A industrial real estate management in the region. Their extensive portfolio comprises 509 investment properties totaling over 87 million square feet. This includes key logistics facilities in premier industrial markets.
Frequently Asked Questions
What are the main achievements of FIBRA Prologis in 2024?
The company acquired a significant share of FIBRA Terrafina, achieved high occupancy rates, and demonstrated growth in net earnings and cash NOI.
How did net earnings per CBFI change from the previous year?
Net earnings per CBFI increased to Ps. 17.1978 (US$0.9136) in 2024, up from Ps. 13.6338 (US$0.7761) in 2023.
What is the anticipated FFO for 2025?
FIBRA Prologis expects FFO per CBFI to range between US$0.2000 to US$0.2200 in 2025.
When will the conference call occur?
The conference call will take place on February 25, 2025, at 9 a.m. Mexico Time.
What is the structure of FIBRA Prologis' portfolio?
The portfolio includes 509 properties across logistics and manufacturing, covering over 87 million square feet in key markets.
