2012-2015 business plan presentation

• CAGR for income from rental business of + 3.6% and CAGR LFL of +2.8%;
• Ebitda margin at the end of the plan: >71%
• Investments of approximately €200 million expected to made over the life of plan, €120 million for expansion and capex of the current perimeter and €80 million for the development of the pipeline;
• Reduction of financial leverage: Gearing ratio target at the end of the plan <1,2X and Loan to Value of approximately 52%.

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