Prologis today released its 2020 annual report.
In his letter to shareholders, Prologis chairman and CEO Hamid R. Moghadam reflected on the unprecedented events of 2020, placing them into the context of how the company helped its employees, customers and communities navigate the pandemic even as it delivered exceptional financial results.
Of note, Prologis entered 2020 on the momentum of strong performance in 2019, delivering sector-leading earnings growth, further fortifying its balance sheet and completing two significant acquisitions totaling $17 billion: Industrial Property Trust, Inc. (IPT) and Liberty Property Trust (LPT).
Moghadam reported on the company’s progress on the Prologis 3Cs, the company’s strategic blueprint for driving success and innovation across the organization: Customer Centricity; Change Through Innovation and Operational Excellence; and Culture and Talent. “These business imperatives are the framework for our rapid, efficient and impactful recovery strategy that has protected and promoted resiliency among all of our stakeholders,” Moghadam explained.
In his letter, Moghadam also discussed how Prologis responded to the pandemic across several key areas of focus: keeping employees safe, helping customers thrive, standing with its communities and underscoring the need for resiliency during particularly challenging times.
“The company’s success in 2020 would not have been possible without the courage and commitment of our employees,” Moghadam said. “I want to thank them for their diligence, generosity and positive spirit. Though our accomplishments in 2020 were significant, the prospects for our future are the most exciting to us. From San Francisco to London to Shanghai, we have the unmatched scale to deliver value to our customers and produce industry-leading returns for our shareholders and investors.”
Read the full report here.