FIBRA Prologis Releases 2016 Annual Report
MEXICO CITY, May 30, 2017 /PRNewswire/ -- In 2016, the second full year as a public company, FIBRA Prologis delivered solidly on long-term growth strategies. Last year offered the strongest operating environment on record for business, as consumer and logistics activity drove demand for its properties. Reporting consistent cash flow and earnings from relying and building upon its core strengths—focus, discipline and excellence in customer service.
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Here are some highlights:
- Operating conditions in Mexico were the strongest on record in 2016:
- At the end of 2016, our portfolio reported an all-time high occupancy of 96.8 percent—up from 96.5 percent at the end of 2015 and 130 basis points above the market.
- Demand in Mexico is being driven largely by consumption, e-commerce and exports:
- E-commerce is growing rapidly, leading e-commerce operators and logistics providers to expand their operations in Mexico.
- Mexico's youthful population and rapidly growing middle class together are driving higher consumption.
- Despite geopolitical uncertainty, the long-term outlook continues to be positive:
- While Mexico occupies an important role in global supply and manufacturing chains, our business proposition gives us the most confidence—no portfolio in Mexico has a better location strategy than ours.
FIBRA Prologis closed out an excellent 2016, entering the new year with a sound financial position, healthy liquidity and a best-in-class operating portfolio that is expected to continue to deliver solid results.
This presentation includes certain terms and non-IFRS financial measures that are not specifically defined herein. These terms and financial measures are defined and, in the case of the non-IFRS financial measures, reconciled to the most directly comparable IFRS measure, in our first quarter Earnings Release and Supplemental Information that is available on our website at www.fibraprologis.com and on the BMV's website at www.bmv.com.mx.
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, 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, 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, and (ix) 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.
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SOURCE FIBRA Prologis
Released May 30, 2017