Prologis has reported its financial results for the twelve months ended December 31, 2020. Revenues for the year totalled $4,438.7m, up 25.0% year-on-year from $3,330.6m. Adjusted EBITDA attributable to common stockholders for the quarter was $3,798.4m, up 24.5% from $2,866.1m in 2019.
Net earnings per diluted share was $0.38 for the quarter and $2.01 for the year compared with $0.61 and $2.46 for the same periods in 2019. The decline in 2020 was due to lower gains on dispositions and higher costs from early extinguishment of debt.
“The pandemic has pushed global supply chains to their limits. Increased e-commerce adoption and the rebuilding of inventories to meet consumer demand are structural forces in the logistics environment that will take years to play out,” said Hamid R. Moghadam, Chairman and CEO, Prologis.
Source: Prologis
