PrologisProperty Mexico SA de CV (OTCPK:FBBPF)

Q3 2025 Prologis Property Mexico SA de CV Earnings Call Transcript

Oct 29, 2025 / 03:00PM GMT

Release Date Price: $3.9 (-3.75%)

Transcript

Key Points

Positve

PrologisProperty Mexico SA de CV (FBBPF) reported strong financial results with FFO up 28% year-over-year, reaching $90 million.
AFFO increased by 50% year-over-year, demonstrating robust financial performance.
The company achieved a record leasing of 4.1 million square feet, surpassing expectations.
Occupancy rates remained high at 98%, with a retention rate of 82%.
The company successfully refinanced short-term debt, enhancing its balance sheet flexibility.

Negative

Geopolitical uncertainties, particularly US-Mexico trade tensions, continue to pose challenges.
Vacancy rates increased by 40 basis points to 5.3% due to move-outs in Tijuana.
The company faces timing issues with asset acquisitions and dispositions, impacting guidance.
Terrafina's portfolio requires additional CapEx investment due to its older average age.
Leasing spreads showed volatility, with a decline from previous quarters, raising concerns about future rent growth.

Operator

Thank you for standing by. My name is Kate and I will be your conference operator today. At this time, I would like to welcome everyone to the FIBRA Prologis 3Q 2025 earnings conference call. (Operator Instructions)

Thank you. I would now like to turn the call over to Alexandra Violante, Head of Investor Relations. Please go ahead.

Alexandra Violante

Prologis Property Mexico SA de CV - Head - Investor Relations

Thank you, Kate, and good morning, everyone. Welcome to our third quarter 2025 earnings conference call. Before we begin our prepared remarks, please note that all information disclosed during this call is proprietary and all rights are reserved. This material is provided for informational purposes only. It's not a solicitation of an offer to buy or sell any securities.

Forward-looking statements made during this call are based on information available as of today. Our actual results, performance, prospects, opportunities may differ materially from those expressed in or implied by the forward-looking statements. Additionally, during

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