FIBRA Prologis Reports Strong Q2 2025 Earnings and Performance Metrics

FIBRA Prologis Reports Second Quarter 2025 Earnings Results

FIBRA Prologis (BMV:FIBRAPL 14), a prominent player in the industrial real estate sector in Mexico, recently disclosed its financial and operational results for the second quarter of 2025. The report revealed several key performance indicators that signal strong performance despite ongoing market challenges.

Highlights from the Quarter

The highlights from this quarter include record net effective rents on rollover reaching 68.0%. Furthermore, FIBRA Prologis achieved a remarkable occupancy rate of 97.7% at the end of the period, with an average occupancy of 98.2%. With customer retention increasing to 86.0%, the company has established a strong foothold in the competitive market. Additionally, same-store cash NOI saw a modest increase of 0.1%. The release of the annual Impact and Sustainability report also underscored FIBRA Prologis's commitment to responsible business practices.

Net earnings per CBFI for the quarter stood at Ps. 1.8021 (approximately US$0.0915), indicating a significant rise compared to the previous year's figure of Ps. 0.7770 (US$0.0470). Funds from operations (FFO) were reported at Ps. 1.1634 (US$0.0585), up from Ps. 0.8112 (US$0.0485) in Q2 2024.

Operational Excellence

CEO Héctor Ibarzábal commented on the company’s strong financial performance, stating, "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."

The company reported commendable operational results as well, with 2.1 million square feet leased in Q2 2025, compared to 1.3 million square feet in the same period last year. The primary leasing activity was concentrated in major markets of Mexico City and Guadalajara. Customer retention rates also improved significantly from 65.8% in Q2 2024 to 86.0% in the recent quarter.

The net effective rent experienced a substantial increase, climbing to 68.0%, compared to 58.1% in 2024. The most significant contributions came from major urban centers, including Monterrey, Mexico City, and Juarez. Conversely, same-store cash NOI showed an increase of 0.1%, mainly due to changes in rent and annual rent increases, although it faced some headwinds from foreign exchange factors.

Financial Stability

FIBRA Prologis's financial position as of June 30, 2025, indicates a healthy leverage of 22.8% and liquidity amounting to approximately Ps. 21.5 billion (around US$1.1 billion). This liquidity included Ps. 19.7 billion (US$1.0 billion) of available capacity on unsecured credit facilities and Ps. 1.8 billion (US$97 million) in unrestricted cash reserves.

Looking forward, the company updated its guidance for 2025, projecting a Funds from Operations (FFO) per CBFI between US$0.2200 and US$0.2400, factoring in exchange rates and excluding the impact of foreign exchange movements.

Upcoming Webcast

FIBRA Prologis has scheduled a live webcast and conference call to discuss the quarterly results, current market conditions, and future outlook. This event will take place on Tuesday, July 29, 2025, at 9 a.m. Mexico Time. Investors and interested parties are welcome to access the live webcast from the Investor Relations section of the FIBRA Prologis website.

About FIBRA Prologis

FIBRA Prologis stands out as the leading owner and operator of Class-A industrial real estate in Mexico, managing a portfolio that includes 507 investment properties aggregating 87 million square feet. The operational footprint comprises logistics and manufacturing facilities across six core industrial markets.

In conclusion, FIBRA Prologis's robust second-quarter performance highlights its strategic positioning and operational resilience, positioning the company well in the ever-evolving industrial real estate sector.