Pubblication of the Interim Financial Report as at 30 September 2018
Please be advised that in accordance with the law, the Interim Financial Report as at 30 September 2018, approved by the Board of Directors on 7th November 2018, will be available to the general public on 9th November 2018 at the company’s Registered Office, on the Company’s website https://eng.gruppoigd.it/ section Investor Relations – Reports and […]
2019-2021 Strategic Plan Presentation
The Plan is based on 3 pillars:
- Innovation and operating excellence, particularly in commercial activities, marketing and sustainability
- Asset Management focused on increasing the quality of the portfolio and strengthening the leadership positioning of assets. Strategic agreement signed with Coop Alleanza 3.0 which calls for a complete revision of the leases for 18 hypermarkets and the remodeling of 5 of them with a view to expanding the adjacent malls
- Strengthening of the financial structure through rigorous financial discipline and asset rotation (Loan-to-Value expected to drop further to less than 45% over the plan period )
Results presentation as at 30 September 2018
RESULTS AT 30 SEPTEMBER 2018:
- Strong growth trend in FFO confirmed: €5 million (+ 21.5%)
- Net rental income: €3 million, + 10.7% (malls LFL Italy + 1.6%, Romania + 3.8%)
- Sales of retailers in Italian malls + 2.1%; upside on lease renewals (Italy + 1.7%; Romania + 2.5%)
- Loan-to-Value 45.84%; Interest cover ratio 3.47x
The Company and a pool of lenders, including BNP Paribas Italian Branch, also as Mandated Lead Arranger, Underwriter, Global Coordinator and Bookrunner, executed a facility agreement for an amount equal to Euro 200 million
IGD announces that today it has executed with a pool of lenders, a facility agreement pursuant to which the relevant lenders make available to the Company a senior unsecured facility of Euro 200 million, with three years maturity and an extension option in favor of the Company up to five years