Prologis has reported results for the fourth quarter and full year 2017. Revenues for Q4 reached $620m and total revenues for the full year 2017 totalled $2,618m, an increase of 3.4% compared to 2016. Adjusted EBITDA for the full year was $2,398, which represents a 7.9% year-on-year increase.
Net earnings per diluted share was $0.55 for the quarter and $3.06 for the year compared with $0.82 and $2.27 for the same periods in 2016. The year-over-year increase is principally due to higher gains on real estate transactions, stronger operating results and higher net promote income.
Hamid R. Moghadam, chairman and CEO, Prologis, commented: “Our results are a testament to our high-quality portfolio, proven strategy and strong execution by our global team. We are starting 2018 with even more embedded rental upside than we had last year. Looking forward, it’s all about using our scale and expertise to drive organic growth, put our global land bank to work and deliver further value from our customer relationships.”
Source: Prologis
