2006 Summary Annual Report
[Introduction]
[2006 Highlights]
[To Our Shareholders]
[Global Markets]
[Income Diversity]
[Thought Leadership]
[Financial Highlights]
[ProLogis Board and Senior Officers]
[Global Presence]
[Shareholder Information]
[Form 10K]
2006 HIGHLIGHTS
  • Grew ProLogis' defined funds from operations per share, as adjusted, (FFO) to $3.70, up 36.5% from $2.71 in 2005, and net earnings per diluted share to $3.32, up 88.6% from $1.76 in 2005

  • Achieved total shareholder return of 34.0%, including share price appreciation and dividends

  • Increased dividend for the 13th consecutive year to a projected rate of $1.84 per share for 2007, a 15.0% increase

  • Grew total assets owned and under management by 20.6%, to $26.71 billion, up from $22.14 billion at the end of 2005

  • Recognized $131.2 million in incentive returns in our property fund business through the successful launch of ProLogis European Properties (Euronext: PEPR) and the formation of ProLogis North American Industrial Fund initiatives and development management fees
  • Increased management fees by 216.6% within our property fund business, including incentive returns, and grew our share of property fund FFO by 32.9%

  • Achieved record leasing of 102 million square feet of space in global markets, an increase of 7.7% over 2005

  • Redeployed $1.53 billion of capital from the company's CDFS pipeline, realizing $326.9 million of FFO, up 40.1% from 2005

  • Began development of a record $2.54 billion of new facilities, up 18.1% over 2005

  • Recognized $106.3 million of FFO from other CDFS activities, largely related to mixed-use
MISSION
To be the leading global provider of sustainable distribution facilities to the world's largest users of distribution space and to create an optimal balance between shareholder value, the environment and corporate social responsibility.

PROFILE
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 20 countries across North America, Europe and Asia. We have more than 420 million square feet of industrial space in over 2,460 properties, representing over $26 billion of assets owned, managed and under development. Our customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, we employ approximately 1,300 people worldwide.

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