#Mexico #Mexico City #FIBRA Prologis #Class-A Industrial #Mexico real estate

FIBRA Prologis First Quarter 2026 Earnings Report

FIBRA Prologis (BMV:FIBRAPL 14), recognized as a significant owner and operator of Class-A industrial real estate in Mexico, has released its earnings results for the first quarter of 2026. The report highlights several key metrics that underline the company's stability and growth within a continuing challenging market environment.

Key Highlights

For the first quarter of 2026, FIBRA Prologis achieved net effective rents on rollover at an impressive 59.6%. The overall occupancy rates demonstrated resilience, with period-end occupancy standing at 97.0% and average occupancy at 97.4%. Customer retention figures also remained strong at 81.2%, indicating a consistent base of satisfied tenants. In particular, the same store cash net operating income (NOI) increased 9.9%, reflecting effective management of rental income amid fluctuating market trends.

Net earnings per CBFI (Certificado Bursátil Fiduciario Inmobiliario) reached US$0.1067, up from US$0.0985 compared to the same period the previous year, while funds from operations (FFO) reported at US$0.0601, slightly lower than US$0.0609 from Q1 2025.

Strategic Overview

FIBRA Prologis CEO, Héctor Ibarzábal, expressed confidence in the company's strategic positioning, stating, "In a more balanced operating environment and amid ongoing trade uncertainty, FIBRA Prologis continues to demonstrate the durability of its portfolio, supported by disciplined execution and strong market positioning across Mexico's key industrial regions. Our results reflect healthy operating fundamentals and a consistent focus on long-term value creation for our shareholders."

The company reported substantial leasing activity, with 3.6 million square feet (MSF) leased during the quarter, mainly concentrated in Mexico City and Juarez. The demand in these key areas indicates an ongoing need for high-quality industrial spaces.

Financial Position

As of March 31, 2026, FIBRA Prologis reported a leverage ratio of 25.0% and a liquidity position of approximately US$1.1 billion. This liquidity includes around US$990 million of available capacity on its unsecured credit facility and US$76 million in unrestricted cash, equipping the company to navigate current uncertainties and pursue growth opportunities.

Conference Call Details

On April 30, 2026, at 9 a.m. Mexico Time, FIBRA Prologis will hold a live webcast and conference call to delve deeper into its quarterly results and discuss ongoing market conditions and future projections. Investors and interested parties can access the webcast through FIBRA Prologis' website in the Investor Relations section. Attendees can also connect via phone to participate.

About FIBRA Prologis

FIBRA Prologis operates as a leading entity in Class-A industrial real estate within Mexico. As of March 31, 2026, the portfolio included 516 Investment Properties, totaling an impressive 86.9 million square feet (8.1 million square meters). Notably, this encompasses 350 logistics and manufacturing facilities situated across six core industrial markets in Mexico, emphasizing its dominant position in the region's real estate landscape.

In conclusion, the first quarter results for FIBRA Prologis demonstrate solid operational performance and strategic resilience amidst external challenges. The management team remains committed to maintaining its leading market position through continuous investment in high-quality assets and tenant relationships.