Immobiliare Grande Distribuzione Siiq S.p.a. · MIL:IGD
Immobiliare Grande Distribuzione Siiq — IGD SIIQ — Morgan Stanley Fixed Income Real Estate Conference (September 2022)
81 slides from Immobiliare Grande Distribuzione Siiq's conference presentation, Sep 29, 2022
Slide 1: Morgan Stanley Fixed Income Real Estate Conference Presentation
Morgan Stanley Fixed Income Real Estate Conference Presentation 29 September 2022
Slide 2: Disclaimer
Disclaimer IGD These statements include financial projections and This presentation does not constitute an offer or an estimates and their underlying assumptions, statements invitation t o subscribe for or purchase any securities. regarding plans, objectives and expectations with respect to future o
Slide 3: Index
Index 1 Introduction to IGD Pag. 4 2 Portfolio Pag. 12 3 Operating performance Pag. 20 4 Financial Results Pag. 30 5 Business Plan 2022-2024 Pag. 39 6 ESG Strategy at-a-glance Pag. 54 7 Appendix Pag. 67 3
Slide 4: Introduction to IGD
1 Introduction to IGD
Slide 5: IGD at a glance
IGD at a glance IGD is one of the main players in the Italian retail real estate sector: we develop and manage shopping centres across the country. We are also present in the retail sector in Romania 19 hyper/ 14 shopping 27 shopping supermarkets c. €2.1bn malls in Development malls in Italy & other
Slide 6: IGD Business Model
IGD Business Model A distinctive competitive positioning Well Diversified Across Strong Track-Record of 1 Italy 2 Strategic Positioning 3 Strong Food Anchor 4 Direct Management 39.2k 35.2k 1 30.9k Services 38.0k 33.1k 3 5 30.3k 2 35.3k 23 1 31.6k 30.4k 26.8k 7 24.5k 7 Food Court 24.7k 32.7k 2 5 19.8
Slide 7: A typical example: Centro Leonardo Imola (Bo)
A typical example: Centro Leonardo Imola (Bo) Dominant (1) Our assets are the dominant retail destination in their catchment area «Urban» shopping centers Easily reachable (about 4km far from city center on average) Strong food anchor Hypermarket has a strong attractive role for everyday shopping No
Slide 8: An overview of our Group structure
An overview of our Group structure (1) 76.2% Revenues (2) Parent Company 95% Financial Debt (3) 100% 16.9% Revenues Italian Facility Management No Financial Debt 100% 6.3% Revenues Romania No Financial Debt 100% Development project in 0.6% Revenues Livorno No Financial Debt 1. For a complete group c
Slide 9: Our shareholding structure
Our shareholding structure Share Capital Average Market Capitalization Number of shares: 110,341,903 1H2022: approx. €454 Mn € 650 Mn Average 1H2022 daily Listed on the Italian Stock Net Equity EUR 1.2 Bn trading: c. 269,151 shares Exchange in the STAR segment Majority of institutional investors, of
Slide 10: IGD Governance – Directors and Committees
IGD Governance – Directors and Committees IGD’s governance has been in line with the criteria of the Self Regulatory Code of Italian Stock Exchange since it was listed. An internal Corporate Governance Code has been in use since 2008. CEO EXECUTIVE Claudio Albertini CHAIRMAN Timothy Guy Rossella Sao
Slide 11: Our Top Management
Our Top Management Rossella Saoncella (1953) Chairman Claudio Albertini (1958) Chief Executive Officer • Appointed in May 2009 • Appointed as IGD’s Chairman on 20 April 2021 • IGD Board member since 2006 • Member of EPRA (1) Advisory Board since 2017 • Member of ECSP’s (2) Nominations Committee sinc
Slide 12: Portfolio
2 Portfolio
Slide 13: IGD: a portfolio of high quality assets
IGD: a portfolio of high quality assets IGD Main Italian Asset Centro Sarca Esp Le Maioliche Centro Borgo Centro Lame Puntadiferro Centro Leonardo Conè Conegliano Sesto S.Giovanni Ravenna Faenza (RA) Bologna Bologna Forlì Imola (BO) (TV) (MI) North Centro Piave Clodì Centro Nova Mondovicino Nuova Da
Slide 14: Market Value
Market Value Gross Initial EPRA Net Initial EPRA Net Initial Financ FY 2021 1H 2022 Δ% Yield Yield Yield topped up occupan Malls Italy 1,481.64 1,499.42 + 1.20% 6.70% 93.96% 5.2% 5.4% Hypermarkets Italy 423.83 409.59 (-3.36%) 6.14% 100.0% Romania 135.78 135.06 (-0.53%) 7.57% 5.5% 6.0% 92.87% Porta a
Slide 15: MV evolution in 1H22
MV evolution in 1H22 ITALY ROMANIA € 2,143.5mn € 2,140.5mn 15
Slide 16: Restyling in progress
Restyling in progress La Favorita (Mn) Portogrande (Ap) Total restyling of Total restyling of mall, facade, and the mall parking area End of work: end of End of work: 3Q22 2023 Slightly delayed because of partial redesign Postponed to avoid overlapping of construction sites (remodeling and restyling
Slide 17: Restyling Centro Leonardo (Bo)
Restyling Centro Leonardo (Bo) Following the hypermarket restyling made by Coop Alleanza 3.0, the mall restyling design, entrusted to Design International-London, is in progress Total restyling of mall, facade, and parking area Start of work: 2023 17
Slide 18: Excellent feedback from the mixed-use project Porta Medicea (Li)
Excellent feedback from the mixed-use project Porta Medicea (Li) RESIDENTIAL SALES 29 binding proposals signed (out of 42 total residential units) c.10.6mn cash in expected within the year 18
Slide 19: Epra indicators
Epra indicators € per share 1H2022 FY 2021 Δ% NRV 10.73 10.85 -1.1% NTA 10.66 10.78 -1.1% NDV 10.92 10.43 4.6% Some figures may not add up due to rounding 19
Slide 20: Operating performance
3 Operating performance
Slide 21: Italian malls tenant sales almost recovered the gap with 2019
Italian malls tenant sales almost recovered the gap with 2019 TENANT SALES FOOTFALLS AVERAGE TICKET -0.9%** progr Aug22 vs Aug19 -17.8% progr Aug22vs19 €25.7 +21.3%** progr Aug22 vs Aug21 +10.8% progr Aug22vs21 +21.8% Aug22vs19 Strong improvement in the eight months period Less frequent, but more ta
Slide 22: The retail sector proved to be very lively…
The retail sector proved to be very lively… Household Restaurants Services Goods New Format +2.6k new occupancy* Car sharing Moreno – -10.6k m2 vacancy created in 1H Happy casa – Città delle Stelle (AP) Tortelleria - Puntadiferro (FC) ESP (RA) +13.2k m2 remarketed Clothing Focus on the categories ou
Slide 23: …with confirmations also on the main project in pipeline
…with confirmations also on the main project in pipeline Porta Medicea (Livorno) OFFICINE STORICHE >16,000 m2 GLA devoted to RETAIL and ENTERTAINMENT 21 shops 4 medium surfaces 1 entertainment area 1 fitness center (opening expected Jan ’23) 75/80% pre-letting Opening 1/2Q 2023 Work in progress Rend
Slide 24: Remodeling projects continue…
Remodeling projects continue… COMPLETED PortoGrande S. Benedetto del T. La Torre - Palermo Katanè - Catania New 3 Medium 3 Medium surfaces New 4 Medium New hypermarket surfaces + stands hypermarket surfaces hypermarket 8,300m2 GLA 3,800m2 GLA 4,700m2 GLA 7,200m2 GLA 6,500m2 GLA 7,300m2 GLA Spaces al
Slide 25: …and the hypermarket confirmed to be an attractive anchor
…and the hypermarket confirmed to be an attractive anchor 1. Coop Alleanza 3.0 is investing to renew its hypermarkets: COMPLETED 2. More promotional activities that are having an excellent redemption rate 3. Performaces showed good results: +2.9% sales* * Hypermarkets owned by IGD; progressive data
Slide 26: The implementation of Digital Plan and events continues…
The implementation of Digital Plan and events continues… MORE SERVICES AND MORE EVENTS MORE COOPERATION CONTACTS WITH VISITORS WITH TENANTS New digital totems In-person events Co-marketing pilot project are being installed resumed with a focus on with Kiko Milano children and families in line offeri
Slide 27: …as well as the co-marketing project with Coop Alleanza 3.0
…as well as the co-marketing project with Coop Alleanza 3.0 100,000 800,000 12 17 on line door to door malls programmed newsletter fliers advertised outputs TARGET Increase the number of contacts in the Area Plus, the reserved online portal where visitors can find promotions, events, openings and ot
Slide 28: Good commercial performances in Italy…
Good commercial performances in Italy… Occupancy Leasing activities 95.1% Upside* +2.5% +30 bps vs 1Q2022 62 turnovers + 51 renewals Contracts signed with new tenants with openings in second half of 2022 Collection rate 2022 >90% Portobello in Portogrande S. Bendetto del T. *upside on renewals and t
Slide 29: …and in Romania
…and in Romania Occupancy Leasing activities 92.9% Upside* +3.5% - 120 bps vs 1Q2022 69 turnovers + 118 renewals • The increase in vacancy is strategic and temporary: 3.000 m2 already leased will bring the figure to pre-pandemic level (c.95%) • Lower temporary reductions granted compared to 2021 Col
Slide 30: Financial Results
4 Financial Results
Slide 31: Highlights
Highlights Δ vs Δ vs Like for 1H2022 2021 2021R* like FY2021 Net Rental Income 57.1 €mn +2.9% +14.0% +16.0% 118.5 €mn Core Business Ebitda 51.8 €mn +2.3% +14.6% 107.3 €mn Funds From Operations (FFO) 34.0 €mn +11.0% +30.8% 64.7 €mn Real Estate Market Value 2,143.5 €mn +0.14% +0.84% 2,140.5 €mn (exclu
Slide 32: Net rental Income at 30/06/2022 (€mn)
Net rental Income at 30/06/2022 (€mn) Change vs 2021R +7.0€mn +14.0% Of which: Like for like • -5.8 €mn change in income net rental Change vs 2021 scope income +1.6€mn • +0.4 costs of the sold portfolio +16.0% +2.9% €mn Like for like: +2.1% (+1.3 €mn) Malls Italy (+1.6%): indexation effect (+0.8 €mn
Slide 33: Core business Ebitda at 30/06/2022 (€mn)
Core business Ebitda at 30/06/2022 (€mn) Change vs 2021R +6.6€mn +14.6% Change vs 2021 +1.2€mn +2.3% €mn Core businss 2021 2022 EBITDA 66.3% 71.3% MARGIN EBITDA 2021 2022 MARGIN 66.6% 73.3% freehold Some figures may not add up due to rounding. 33
Slide 34: Funds From Operations (FFO) at 30/06/2022 (€mn)
Funds From Operations (FFO) at 30/06/2022 (€mn) Of which: Change vs 2021R -5.8 €mn change in revenues, +8.0€mn +0.4 €mn cost of the sold portfolio Of which: +30.8% +0.8 €mn lower payable leases thanks to +2.4 €mn financial management adj. the end of the master lease in Centro -0.4 €mn 2021 negative
Slide 35: Financial management activities carried out in 1H 2022…
Financial management activities carried out in 1H 2022… 1° Green Loan Senior unsecured loan (€215mn) Approx. 154€mn 1^ committed credit 2^ committed credit Bond repayed lines renewed lines renewed with the cash (20€mn) until 2025 (40€mn) until 2025 available APR MAY JUN AUG 35
Slide 36: ..lead to an extension of the maturity profile
..lead to an extension of the maturity profile €100mn Private placement: 2.25% maturity 1Q €400mn bond: 2.125% maturity 4Q New senior unsecured green loan 3+(1+1 opt.) • The 200€mn syndicated loan expiring in 2023 has been early repaid using the green loan proceedings • Considering also the committe
Slide 37: NET DEBT and LTV increased due to dividends entirely paid in May
NET DEBT and LTV increased due to dividends entirely paid in May NET DEBT FY2021 NET DEBT 1H2022 € 987 mn € 1,001 mn Long term financial Long term financial instruments instruments 977.80 1,145.11 Short term financial instruments 40.00 Cash -158.08 Cash flow IQ Cash flow IIQ Dividends Cash -16.20 44
Slide 38: Outlook FFO 2022
Outlook FFO 2022 Taking into account: • The delay of some projects and related revenues together with the positive economic impacts of the pre-lets that will be Change vs 2021R spread over the second half +17/18% • The worsening of the macro economic scenario (increase in Change vs energy costs) as
Slide 39: Strategic Plan 2022-2024
5 Strategic Plan 2022-2024
Slide 40: IGD’s strategy answers to new consumers needs…
IGD’s strategy answers to new consumers needs… Green Urbanization Digitalization Revolution Quality of Life SOCIAL TRANSFORMATIONS ONLINE/OFFLINE ESG FACTORS AS A AND CONSUMERS’ NEEDS INTEGRATION AND DEVELOPMENT LEVER PERSONALIZED ANSWER TO CUSTOMERS IGD Strategy Physical spaces and Digital marketin
Slide 41: Commercial and marketing strategy
Commercial and marketing strategy COMMERCIAL Development of commercial and marketing plan keeping in mind STRATEGY TARGET the features of each asset and their specific catchment area Merchandising mix Structural work Main areas of Layout the commercial 1 and marketing strategy 2 Digital Technologica
Slide 42: Commercial and marketing strategy
Commercial and marketing strategy Merchandising Mix Health and Household Food Family Tech Sport Wellbeing Goods court Store ✓ Ethnic/bio/healthy/ ✓ Scouting of new ✓ Focus on emerging ✓ Specialized retailers ✓ Shops and services ✓ Services for high quality IGD citizens/families tenants and new resta
Slide 43: Layout project: a new life for the external areas
Layout project: 1 2 3 4 a new life for the external areas Use of currently Increase of the services Cross selling activities unproductive areas offered to customers external services/malls’ shops B A C D A B C D Padel courts Photovoltaic systems Food truck/Riders areas Food kiosks/relax areas Projec
Slide 44: Asset management strategy
Asset management strategy ASSET MANAGEMENT We constantly invest in our shopping centers to make them more and more attractive, STRATEGY to maintain their value over time and to lenghten their life cycle TARGET Restyling/ Remodeling/Fit out 1 Main areas Development of asset project 2 management strat
Slide 45: Investments
Investments 1 2 3 4 (€mn) Completion of Officine (retail and residential) Project definition of the other sub- areas to be subsequenly sold on the market Approx. €82Mn Restyling, remodeling and fitout ~13 Approx 1.5% of the portfolio total market value ~24 ~12 ~33 Assets maintenance ESG Assets Porta
Slide 46: Energy efficiency
1 2 3 4 Energy efficiency 7 Photovoltaic systems to be added to the 8 already existing 46
Slide 47: Energy efficiency: targets
Energy efficiency: 1 2 3 4 targets Main targets -21.5% GHG emissions (at 2025 location based «baseline 2018») At least 1 asset carbon positive Centro Tiburtino (Roma) - render of the main entrance (at 2030) 100% Use of energy from renewable sources (already in place) Centro Sarca (Milano) – render o
Slide 48: Winmarkt Portfolio
Winmarkt Portfolio 1 2 3 4 2022-2024 Plan Main characteristics Highlights Extended network Approx. €5mn capex plan (safety, maintenance and environmental) Strategic locations Approx. €19.4mn of generated FFO Adaptable and flexible Approx. € 13.5mn assets of generated dividends Direct 100% self-finan
Slide 49: A balanced asset rotation with flexible targets
A balanced asset rotation 1 2 3 4 with flexible targets Strategic rationale Possible use of proceeds Non core asset disposal ➢ Growth in the Italian retail market with possible scale economies Potential disposals ➢ Tactical reduction of Potential target: over BP timespan financial leverage 180/200 R
Slide 50: Financial strategy
Financial strategy 1 2 3 4 FINANCIAL Obtain the best economic conditions whatever the market context is, STRATEGY and minimize exposure to financial risks TARGET (credit risk and fluctuation of interest rates) Maintaining a rigorous financial discipline consistent with IG profile 1 2 Main areas Earl
Slide 51: Main target BP 2022-2024
Main target BP 2022-2024 Targets at the end of bp 2024 NET RENTAL INCOME FFO LOAN TO VALUE approx. +17/20% ➢ 30% (126/128 €mn end 2024) (74/76 €mn end 2024) 40/43% vs 2021 restated* vs 2021 restated* CAGR Lfl bp timespan 2021-2024** Considering scope being equal to the one at end of 2021. ITALY: +5/
Slide 52: Dividend: IGD goes back being a «dividend company»
Dividend IGD goes back being a «dividend company» Target Dps € 0.50 Dps € 0.35* 2022 2024 Assuming no Covid direct impact and no restrictions starting from 2022 * Dividend paid on 11 May 2022 52
Slide 53: Possible future scenarios
Possible future scenarios IGD could act as an aggregator of new assets, potentially even from different sectors, in order to further expand its property portfolio and leverage on its know-how and greater economies of scale to create value, if allowed by market conditions. 53
Slide 54: ESG Strategy At-a-glance
6 ESG Strategy At-a-glance
Slide 55: IGD sustainability steps
IGD sustainability steps 2011 IGD’s first Sustainability Report (on 2010 data) 2012-2014 Process for greater internal awareness 2013 Sustainability issues incorporated in the Plan 2014-2015 Materiality analysis and new approach to the report 2016 Sustainability Report approved for the first time by
Slide 56: Some of the results achieved over the years
Some of the results achieved over the years Level of satisfaction of IGD shopping centers’ visitors 3.9 (scale 1min. - 5max.) Co2 Emissions intensity 2021-2012 (Kwh/Mq) -21.0% The structured engagement of all stakeholders allows IGD to 2021 Turnover rate understand their expectations and 4.7% evalua
Slide 57: ESG: the improvement process continues in 2021
ESG: the improvement process continues in 2021 10 YEARS TRACK RECORD GREEN RESPONSIBLE ETHICAL ATTRACTIVE TOGETHER 1. Climate Change 3. Good employment 6. Governance, 7. Sustainable 11. Stakeholder 2. Accessibility and 4. Gender equality ethics and enhancement of engagement mobility 5. Wellbeing, he
Slide 58: 1H2022 results of the path defined in the 2022-2024 Business Plan
1H2022 results of the path defined in the 2022-2024 Business Plan Preliminary Bio Safety Trust ISO37001 Restyling/ Local associations agreements signed Certification Certification revamping in involved in 90% to realize renewed in 7 confirmed progress in 4 of shopping photovoltaic shopping centers f
Slide 59: ESG: awards, ratings and certifications obtained
ESG: awards, ratings and certifications obtained Awards 93/100, Score A 5° year in a row 8° year in a row Rating ESG 11 ratings independent and unsolicited 1 , of Stock Indexes ESG focused Ratings which - 6 already present in 2020 8 indexes - 4 improved in 2021 - 5 new achieved in 2021 BREEAM Certif
Slide 60: 2022-2024 Sustainability Plan: SDG’s targets
2022-2024 Sustainability Plan: SDG’s 41 targets at 2024: 22 ambitions • Material for IGD toward 2030 • Consistent with UN SDG’s IGD RELEVANT SDG’S 60
Slide 61: Green
Green 1 2 3 4 2024 TARGETS 2030 OBJECTIVES CLIMATE CHANGE • 100% green energy purchased • Zero carbon emissions (scope 1 and 2) at 100% of the Italian shopping centers • double the use of energy produced from renewable sources • Reduce indirect emissions (scope 3) • -15% reduction in energy consumpt
Slide 62: Green Transition
Green Transition 1 2 3 4 Main targets 100% of the shopping centers with charging stations Different types of charging stations (traditional, fast, Tesla) across the whole network 50% of the shopping centers with fast charging stations (agreement with top international player) 100% of the assets ISO1
Slide 63: Responsible
Responsible 1 2 3 4 2024 TARGETS 2030 OBJECTIVES WORKPLACE QUALITY • Training: 100% of the employees in Italy and • Gender equality in roles of responsibility Romania each year • Improve employees’ wellbeing and expertise • 1 employee satisfaction survey and 2 «pulse surveys» • «Sustainability Innov
Slide 64: Ethical
Ethical 1 2 3 4 2024 TARGETS 2030 OBJECTIVES • Corporate cybersecurity strategy • Best-in-class for corporate governance and legality • Systematic assessment of the providers along the supply chain with a view to sustainability • CSR policies included in company supply chains • Maintain the highest
Slide 65: Attractive
Attractive 1 2 3 4 2024 TARGETS 2030 GOALS SUSTAINABLE ENHANCEMENT OF THE PORTFOLIO • 4 key restyling/remodeling projects • Up to 10 sustainable restylings completed to renew and enhance the portfolio • 100% with projects aiming to increase visitors’ well OFFER being • Commercial and strategic adjus
Slide 66: Together
Together 1 2 3 4 2024 TARGETS 2030 OBJECTIVES STAKEHOLDER ENGAGEMENT Relationship with investors/financial community • Partnering with tenants in sustainability • 1st Sustainability Framework defined and issue • Partnerships with NGOs of 1st Sustainability Linked Bond • Investor/CSR Day and theme-ba
Slide 67: Appendix
7 Appendix
Slide 68: Consolidated Income Statement at 30/06/22
Consolidated Income Statement at 30/06/22 GROUP CONSOLIDATED (a) (c) Δ 1H_CONS_2021 1H_CONS_2022 (c)/(a) Revenues from freehold rental activities 66.9 64.5 -3.5% Revenues from leasehold rental activities 6.2 4.4 -28.3% Total income from rental activities 73.1 69.0 -5.6% Rents and payable leases 0.0
Slide 69: Funds From Operations (FFO) at 30/06/22
Funds From Operations (FFO) at 30/06/22 Funds from Operations 1H 2022 1H 2021 Δ Δ% Core business EBITDA* 51.9 50.6 2.3 2.5% IFRS16 Adjustment (Payable leases) *(4.1) (4.2) 0.1 -3.1% Financial Management Adj** (13.2) (15.6) 2.4 -15.3% Current taxes for the period Adj (0.6) (0.6) (0.0) 0.7% FFO 34.0 3
Slide 70: Re-classified balance sheet at 30/06/22
Re-classified balance sheet at 30/06/22 Sources - Use of funds(€/000) 30/06/2022 31/12/2021 Δ Δ% Fixed assets 2,093,143 2,093,176 -33 0.0% Assets under construction 43,420 44,095 -676 -1.5% Other non current assets 42,651 42,810 -159 -0.4% Other non current liabilities -26,302 -27,466 1,164 -4.2% As
Slide 71: Other Metrics at 30/06/22
Other Metrics at 30/06/22 EPRA Performance Measure 30/06/2022 31/12/2021 EPRA NRV (€'000) 1.184.419 1.197.354 EPRA NRV per share € 10,73 € 10,85 EPRA NTA 1.176.469 1.189.467 EPRA NTA per share € 10,66 € 10,78 EPRA NDV 1.204.446 1.151.244 EPRA NDV per share € 10,92 € 10,43 EPRA Net Initial Yield (NIY
Slide 72: Financial Management at 30/06/22 (€mn)
Financial Management at 30/06/22 (€mn) -15,3% IFRS16 and non recurring charges Financial Management Adj*: -2.4 €mn vs 2021 (-15.3%) * Financial Management adj: net of IFRS16 (0.6€mn) and IFRS9, non recurring charges Some figures may not add up due to rounding. 72
Slide 73: More financial highlights and debt breakdown at 30/06/22
More financial highlights and debt breakdown at 30/06/22 31/12/2021 30/06/2022 Debt breakdown** Gearing ratio 0.84X 0.86X Average lenght of long term debt 2.4 years 2.3 years Hedging on long term debt + bond 93.8% 87.4% Share of M/L debt 96.4% 93.1% Uncommitted credit lines granted 151 € mn 151 € mn
Slide 74: Contracts and key tenants Italy at 30/06/22
Contracts and key tenants Italy at 30/06/22 Product Turnover Malls TOP 10 Tenant Contracts category impact N 153 N 208 N 250 N 788 clothing 2.7% 10 clothing 2.6% 13 electronics 2.4% 10 Average residual maturity: 3.9 years clothing 2.1% 11 Total contracts: 1,399 of which 51 renewals with the same ten
Slide 75: Contracts and key tenants Romania at 30/06/22
Contracts and key tenants Romania at 30/06/22 Product Turnover TOP 10 Tenant Contracts category impact Winmarkt supermarkets 11.0% 11 N 152 N 234 N 58 N 42 N 59 clothing 6.1% 6 clothing 4.5% 11 clothing 3.7% 7 drugstore 2.7% 5 health care 2.2% 4 jewellery 1.5% 5 office 1.8% 1 Average residual maturi
Slide 76: Merchandising & Tenants Mix
Merchandising & Tenants Mix Italia Romania Merchandising Mix* Tenant Mix* 76 *Internal processing on GLA sqm
Slide 77: Covid effects in 2020 and 2021
Covid effects in 2020 and 2021 Closing days 87 44 Covid one-off 18.5 net impact 7.2 €mn €mn Average ticket +18% +24% vs 2019 vs 2019 CNCC* Tenant Sales -27.6% -11.1% vs 2019 vs 2019 -14.7% Footfalls -29.5% -22.2% vs 2019 vs 2019 -26.4% 2021: less impacts from restrictions compared to 2020 *National
Slide 78: Porta a Mare Livorno Mixed-use project
Porta a Mare Livorno Mixed-use project D C A B A Piazza Mazzini C Officine Storiche • Retail: operating, 100% owned by • Retail: >16k sqm, • Residential: 73 flats, sales completed • Residential: 42 flats, sales ongoing B Palazzo Orlando D Sub areas Lips, Molo Mediceo and Arsenale • Offices: sold in
Slide 79: Disposal of a portfolio in 2021
Disposal of a portfolio in 2021 5 hypermarkets and 1 supermarkets; all the properties sold «stand alone» 1 3 LIVORNO LIVORNO (LI) (LI) SCHIO (VI) Transaction closed in November 2021 140 mn€ Value of the portfolio 2 4 LUGO (RA) in line with book value at 30/06 CECINA (LI) c.115 mn€ Net cash in* 5 6 S
Slide 80: Italian Portfolio composition
Italian Portfolio composition* 27 shopping malls 19 hypermarkets Tenants of hypermarkets CENTRO D'ABRUZZO - Pescara CENTRO D'ABRUZZO - Pescara Coop Alleanza 3.0 CLODI' - Chioggia CLODI' - Chioggia Coop Alleanza 3.0 PORTO GRANDE - Porto d'Ascoli (AP) PORTO GRANDE - Porto d'Ascoli (AP) Coop Alleanza 3
Slide 81: Investor relations contacts
Raffaele Nardi Director of Planning, Control and investor relations raffaele.nardi@gruppoigd.it Claudia Contarini, Investor Relator T. +39 051 509213 claudia.contarini@gruppoigd.it Elisa Zanicheli, IR Team T. +39. 051 509242 elisa.zanicheli@gruppoigd.it Federica Pivetti, IR Team T. +39. 051 509260 f
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