Immobiliare Grande Distribuzione SIIQ SpA
MIL:IGD
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Immobiliare Grande Distribuzione SIIQ SpA
MIL:IGD
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Immobiliare Grande Distribuzione SIIQ SpA
IGD SIIQ SpA engages in the acquisition, management and lease of retail real estate properties. The company is headquartered in Bologna, Bologna and currently employs 166 full-time employees. The company went IPO on 2005-02-11. The firm is primarily active in the property purchase, development, management and leasing. Additionally, it provides various services related to real estate sector, including promotion of newly opened, expanded or restructured centers; rotation of existing retailers, and facility management services, such as security, cleaning and ordinary maintenance. As of December 31, 2011, the Company’s portfolio consisted of properties in Italy, including 19 hypermarkets and supermarkets, 19 shopping malls and retail parks, one city center property, four plots of land for direct development, one asset held for trading and 7 others, and properties in Romania, including 15 shopping centers and one office building. The company operates through Punta di Ferro Srl.
IGD SIIQ SpA engages in the acquisition, management and lease of retail real estate properties. The company is headquartered in Bologna, Bologna and currently employs 166 full-time employees. The company went IPO on 2005-02-11. The firm is primarily active in the property purchase, development, management and leasing. Additionally, it provides various services related to real estate sector, including promotion of newly opened, expanded or restructured centers; rotation of existing retailers, and facility management services, such as security, cleaning and ordinary maintenance. As of December 31, 2011, the Company’s portfolio consisted of properties in Italy, including 19 hypermarkets and supermarkets, 19 shopping malls and retail parks, one city center property, four plots of land for direct development, one asset held for trading and 7 others, and properties in Romania, including 15 shopping centers and one office building. The company operates through Punta di Ferro Srl.
FFO: FFO came in at EUR 41.2 million, up 15.7% year‑on‑year and above the August guidance of EUR 39 million.
Dividend: Board proposed a dividend of EUR 0.15 per share (versus EUR 0.10 paid for the prior year); payment to be made from exempt profits.
Operations: Core like‑for‑like net rental income rose 4%, core EBITDA up 3%, tenant sales +1.6% and footfalls +3.5%, with occupancy moving from 84.7% to in excess of 96%.
Balance sheet: LTV improved to 43.5%; average cost of debt fell to 5.1% at Dec 31 (post‑financing at 4.8%); EUR 1.1 billion of debt refinanced in 2025, generating EUR 8.7 million of interest savings.
Portfolio & disposals: Five assets disposed for about EUR 22 million; portfolio like‑for‑like valuation up 1.8% at constant rates (driven by mall cash flows; no yield compression reported).
2026 outlook: Management guides FFO for 2026 to be at least EUR 45 million (citing organic growth and further financing benefits).
Digital & leasing: Loyalty app users more than tripled year‑on‑year; 2025 renewals covered 10% of contracts with a 1.4% rental upside in Italy.
