Prologis, Inc. · NYSE:PLD
Prologis — Q1 2009 Earnings Presentation
6 slides from Prologis's earnings presentation, 2009
Slide 1: 1Q 09 Update - Appendix
1Q 09 Update - Appendix
Slide 2: … and is Expected to Continue
225 275 325 375 19 8 19 3 8 Millions 19 4 8 19 5 8 19 6 8 19 7 8 19 8 8 19 9 9 19 0 9 19 1 9 19 2 9 19 3 9 19 4 95 19 9 19 6 9 19 7 9 19 8 9 … and is Expected to Continue 20 9 0 20 0 0 20 1 0 20 2 0 20 3 0 20 4 0 20 5 0 20 6 0 20 7 0 US Population Growth 20 8 0 20 9 1 20 0 1 20 1 1 20 2 1 20 3 1 20
Slide 3: Close Correlation Between GDP and Demand
Close Correlation Between GDP and Demand Growth in Occupied Warehouse Space vs. Growth in Real GDP Percent Change, YoY 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% Real GDP Occ Space -2.0% 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 20
Slide 4: GDP Also Drives New Development
GDP Also Drives New Development 240 Growth in U.S. Real GDP vs Growth in Total Stock of Warehouse/Distribution Floorspace 220 200 1982: Inventory = 2.9B sf Real GDP = $5.2 Trillion Index: 1982-Q4 = 100 2008: Inventory = 6.0B sf 180 Real GDP = $11.5 Trillion 160 140 120 Total Stock Real GDP 100 82 83
Slide 5: Consumer Spending Historically Rebounds Strongly
Consumer Spending Historically Rebounds Strongly Growth in U.S. Personal Consumption Spending, 1959-2008 10.0% Note: Shaded areas indicate recessions 8.0% Percent Change from Year Ago 6.0% 4.0% 2.0% 0.0% -2.0% Q 78 Q 80 Q 82 Q 96 Q 98 Q 00 Q 74 Q 76 Q 84 Q 86 Q 88 Q 90 Q 92 Q 94 Q 02 Q 04 Q 06 Q 66
Slide 6: Population Growth has been Consistent …
Population Growth has been Consistent … Millions US Population Growth 325 300 275 250 225 83 85 87 89 91 93 95 97 99 01 03 05 07 19 19 19 19 19 19 19 19 19 20 20 20 20