FIBRA Prologis
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FIBRA Prologis (FIBRAPL 14) investor relations material

FIBRA Prologis Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary29 Oct, 2025

Executive summary

  • Delivered strong third-quarter 2025 results, with robust operational and financial performance driven by e-commerce growth and supply chain modernization in key markets like Mexico City and Guadalajara.

  • Net effective rents on rollover increased 47.2 percent, with activity concentrated in Mexico City, Monterrey, and Guadalajara.

  • Customer retention improved to 81.7% from 52.7% year-over-year, with high occupancy at 98%.

  • Benefited from the Terrafina acquisition, with significant progress in integrating and elevating operational standards.

  • Portfolio comprised 515 investment properties totaling 87.0 million square feet as of September 30, 2025.

Financial highlights

  • FFO reached $0.0561 per CBFI, up 28% year-over-year, totaling $90 million.

  • AFFO was $78 million, a 50% increase year-over-year.

  • Same-store NOI (cash and GAAP) grew around 15%, mainly from rent increases and higher occupancy.

  • EBITDA margin for the nine-month period stabilized around 77%.

  • Leverage stood at 22.6% and liquidity was approximately Ps. 19.9 billion (US$1.1 billion), including Ps. 18.4 billion (US$1.0 billion) in available credit and Ps. 1.6 billion (US$85 million) in cash.

Outlook and guidance

  • Adjusted 2025 guidance: building acquisitions at $50–100 million, dispositions at $0–50 million.

  • CapEx as a percentage of NOI revised to 9%-12% based on updated maintenance budgeting.

  • Taxable income for 2025 expected to exceed distribution guidance, with distributions to be made in a mix of CBFIs and cash.

  • Development activity remains focused on Mexico City, with flexibility to ramp up as market visibility improves.

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