The Board of Directors of IGD S.p.A. – a Blue Chip company listed on the MIDEX segment of the Italian Stock Exchange, operating in the retail real estate sector – met today to examine figures for the third quarter of 2007, which confirmed a double-digit growth in terms both of turnover and profitability.

The third quarter of 2007 closed with a value of production of € 18.32 million, considerably up – 20.05% – compared to € 15.26 million of the third quarter of 2006. On the nine months of 2007 consolidated turnover registered a € 10.54 million increase compared to € 44.01 million in the first nine months of 2006.

The gross operating margin (EBITDA) was € 11.74 million, recording a strong 18.95% increase compared to 30 September 2006 (€ 9.87 million). EBITDA on the first nine months of 2007 equalled € 34.68 million, up € 6.51 million compared to € 28.17 million in the first nine months of 2006.

The operating margin (EBIT) was € 11.51 million, with considerable growth (+21.67%) over the € 9.46 million at 30 September 2006. In the nine months of 2007 EBIT equalled € 58.81 million compared to € 67.19 million in the first nine months of 2006.

Pre-tax profit reached € 7.89 million, up 9.58% compared to € 7.20 million in the same period of 2006. Net profit too was up 8.88% on the third quarter of 2006. In the nine months of 2007 net profit equalled € 28.70 million compared to € 37.10 million in the first nine months of 2006. Net financial position reached € 275.89 million compared to € 237.64 million at 30 June 2007.

“We cannot help but be particularly satisfied with the excellent results – commented Filippo Carbonari, Managing Director of IGD – that we have achieved in terms of turnover and profitability, which confirm the effectiveness of the strategic decisions of the Group also beyond the stabilisation of market yields.”

The Board of Directors also gave a separate mandate to the Chairman and to the Managing Director to convene an Extraordinary Meeting in order amend the Company’s by-laws needed to be able to exercise the option of adhering to the new special “SIIQ” regime introduced with the 2007 Financial Act. The condition precedent of the meeting resolutions will, in any case, be the effective exercising of the option due to the uncertainty caused by the current regulatory framework, which is not yet defined.

The new SIIQ investment vehicle is a tool that the Group could use for the future reorganisation of the company.