Market: Milan
ISIN: IT0005322612
Industry: Retail Real Estate

Company presentation

Immobiliare Grande Distribuzione SIIQ S.p.A. is a key player in Italy’s retail real estate sector. IGD owns a rich portfolio of shopping centers located throughout Italy which are managed by in-house asset, property, facility and leasing management divisions.  IGD also acts as a service provider, managing portfolios of institutional third parties.  An extensive domestic presence, a solid financial structure, the ability to plan, monitor and manage all phases of a center’s life cycle, both freehold and leasehold, as well as ongoing investments in retail and technology innovation, ensure IGD’s position as a point of reference in the retail real estate sector.

The Company, listed on Borsa Italiana’s Euronext STAR segment, was the first SIIQ (Società di Investimento Immobiliare Quotata or real estate investment trust) in Italy. IGD’s freehold portfolio, valued at more than €1.69 billion at 31 December 2024, includes 8 hypermarkets and supermarkets, 25 shopping malls and retail parks in Italy and a portfolio of shopping centers in 13 Romanian cities which are managed directly based on the same model used in Italy.

The Company also holds 40% of two real estate funds which are comprised of 13 hypermarkets, 4 supermarkets and 2 shopping malls for which IGD manages project, property & facility management activities.

Currency EUR
Last Closing Price 2.85
Change (%) -0.70
Volume 245,686
Number of Shares (mln) 110.34
Market Cap (mln) 314.47
Key figures (EUR thousand) 2020 2021 2022 2023 2024
Rental revenues 145,578 145,095 137,257 142,370 134,755
EBIT (52,275) 88,701 7,729 (33,056) 66,489
Net profit for the period (74,321) 52,769 (22,315) (81,732) (30,084)
Loan to value, % 49.90 44.80 45.70 48.10 44.40
Core business EBITDA 99,441 107,272 103,431 108,153 -
Core business EBITDA Margin, % 65.4 70.8 71.6 72.1 71.3
Core business FFO 59,284 64,724 67,180 55,442 -
Average cost of debt, %
2.30 2.20 2.26 3.86 6.04
Epra NRV 10.38 10.85 10.28 9.22 8.94
Epra NTA 10.31 10.78 10.20 9.15 8.87
Epra NDV 10.42 10.43 10.06 9.00 8.75
Dividend, EUR 0.00 0.35 0.30 0.00 0.10
Dividend Yield, % - 8.60 10.90 - -
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