#Mexico #Mexico City #financial results #FIBRA Prologis #industrial real estate

FIBRA Prologis Reports Strong Financial Performance for 2025

FIBRA Prologis, one of Mexico's leading real estate investment trusts (REITs) focusing on Class A industrial properties, has announced its annual financial results for the year ending December 31, 2025. The company demonstrated remarkable operational resilience and financial strength, reflecting its strategic initiatives and positive market conditions.

Key Achievements of the Year

The financial results reveal a series of impressive milestones achieved throughout the year:

• - Almost Complete Ownership: The ownership in FIBRA Terrafina has increased to an outstanding 99.8%.
• - Significant Rent Growth: Effective net rent for leases renewed surged by 59.1%.
• - High Occupancy Rates: Occupancy at the close of the year was recorded at 97.0%, with an average occupancy of 97.8% during 2025.
• - Customer Retention: The customer retention rate stands at a noteworthy 82.6%.
• - Solid Cash NOI Growth: The cash net operating income for the same property category increased by 6.4%.
• - Acquisitions: The company completed acquisitions of Class A properties amounting to $67 million.
• - International Bond Issuance: A significant milestone was achieved with the initiation of its first international bond issue, raising $500 million.
• - Sustainable Energy Initiatives: Installed solar capacity reached 21 MW.

FIBRA Prologis demonstrated its commitment to sustainable and responsible investment practices, further establishing its reputation as a market leader in the industrial real estate sector in Mexico.

Financial Highlights

The net profit per real estate investment trust certificate (CBFI) for Q4 2025 was reported at Ps. 2.0887 (approximately $0.1123), a decrease from Ps. 3.8692 (about $0.1816) in Q4 2024. For the entire year, net profit per CBFI stood at Ps. 6.9148 ($0.3565), compared to Ps. 17.1978 ($0.9136) in 2024.

Funds from Operations (FFO), a key metric for REITs, totaled Ps. 1.0533 ($0.0583) for Q4 2025, up from Ps. 0.9740 ($0.0488) in Q4 2024. For the year, the FFO reached Ps. 4.4854 ($0.2339), an increase from Ps. 3.4507 ($0.1943) in the previous year.

Operational Results

Despite ongoing global uncertainties, 2025 was a phenomenal year for FIBRA Prologis, marked by substantial execution and disciplined growth. CEO Héctor Ibarzabal remarked on the company's impressive levels of occupancy and rental growth.

Portfolio Metrics

• - Year-End Occupancy: 97.0% (compared to 98.3% in 2024)
• - Average Occupancy: 97.8% (slightly down from 98.1% in 2024)
• - Leasing Contracts Initiated: Increased to 11.4 million square feet, with major activity centered in Mexico City, Juarez, and Guadalajara.
• - Customer Retention Rate: Increased to 82.6% from 71.6% in 2024.
• - Effective Net Rent Growth: 59.1% led by Mexico City, Monterrey, and Reynosa markets.

These figures indicate that FIBRA Prologis has not only maintained high occupancy levels but has also successfully improved its client retention and rental revenue, despite a challenging economic environment.

Financial Stability

As of December 31, 2025, FIBRA Prologis maintained a leverage level of 23.0%, with liquidity holdings of Ps. 18.7 billion (about $1.0 billion). This liquidity includes a significant amount available through an unsecured credit line and cash holdings. The robust financial position provides ample capacity for further investment and acquisitions.

Forward-Looking Guidance for 2026

For the upcoming year, FIBRA Prologis has established guidance that anticipates:

• - FFO per CBFI: Between $0.2400 and $0.2600.
• - Distribution per CBFI: Expected at $0.1700, marking a 13.3% increase compared to guidance from 2025.
• - Year-End Occupancy Target: Anticipated between 96.5% and 98.5%.
• - Cash NOI growth: Expected to range from 9.0% to 13.0%.

In conclusion, FIBRA Prologis's proactive approach to sustaining performance demonstrates its capability to thrive amidst fluctuating market conditions. The commitment to enhancing shareholder value while focusing on sustainability positions the firm favorably for future growth opportunities.