Prologis said it generated net proceeds of $4.8 billion and realized net gains of $1.3 billion in 2024, principally from the contribution of properties to unconsolidated co-investment ventures in the U.S. and Europe and sales of non-strategic properties to third parties in the U.S.

1. 01

   Prologis said it generated net proceeds of $4.8 billion and realized net gains of $1.3 billion in 2024, principally from the contribution of properties to unconsolidated co-investment ventures in the U.S. and Europe and sales of non-strategic properties to third parties in the U.S.

2. 02

   The company said operating portfolio occupancy was 95.8% as of December 31, 2024, and rent change on leases that commenced during 2024 was 68.7% on a net effective basis, both metrics based on its ownership share.

3. 03

   Prologis said total available liquidity as of December 31, 2024 was $7.4 billion, including borrowing capacity on its credit facilities of $6.1 billion and unrestricted cash balances of $1.3 billion, and total debt was $30.9 billion with a weighted average maturity of 9 years and an effective interest rate of 3.1%.

4. 04

   The company said its publicly traded vehicle, FIBRA Prologis, completed tender offers to acquire 89.9% of Terrafina through a combination of stock and cash and began consolidating Terrafina, and as a result, its ownership interest in FIBRA Prologis decreased to 34.6% as of December 31, 2024.

Key figures

Fiscal year ended December 31, 2024

Revenue

$8.2B

Operating income

$4.4B

Net income

$3.7B

EPS

$4.01

Operating cash flow

$4.9B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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