Immobiliare Grande Distribuzione Siiq S.p.a. · MIL:IGD
Immobiliare Grande Distribuzione Siiq — IGD SIIQ — Non-Deal Roadshow (November 2023)
82 slides from Immobiliare Grande Distribuzione Siiq's roadshow presentation, November 2023
Slide 1: Road show presentation November 2023
Road show presentation November 2023
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 performances 9M23 Pag. 27 4 Financial Results 9M23 Pag. 39 5 Financial Strategy and Outlook Pag. 46 6 ESG Strategy at-a-glance Pag. 53 7 Appendix Pag. 68 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. €2.0bn 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 Esp in Ravenna
A typical example: Centro Esp in Ravenna Industrial area Dominant (1) and touristic area Our assets are the dominant Industrial and retail destination in their Romagna’s «Riviera» touristic port (110km touristic destination) catchment area Densely populated residential neighborhoods «Urban» shopping
Slide 8: An overview of our Group structure
An overview of our Group structure (1) 72.3% Revenues (2) Parent Company 100% Financial Debt 100% 16.7% Revenues Italian Facility Management No Financial Debt 100% 6.2% Revenues Romania No Financial Debt 100% Development project in 4.8% Revenues Livorno No Financial Debt 1. For a complete group char
Slide 9: Our shareholding structure
Our shareholding structure Share Capital Average Market Capitalization Number of shares: 110,341,903 01/01 – 31/10/23: approx. € 650 Mn €286 Mn Average 01/01 – 31/10/23 Listed on the Italian Stock Net Equity EUR 1.0 Bn daily trading: c. 268,909 Exchange in the STAR shares segment Majority of institu
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 2005. CEO EXECUTIVE Claudio Albertini CHAIRMAN Timothy Guy Rossella Sao
Slide 11: Our Top Management
Our Top Management Rossella Saoncella (1954) 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 D
Slide 14: Portfolio market value
Portfolio market value Gross Initial EPRA Net Initial EPRA Net Initial Financi FY 2022 1H 2023 Δ% Yield Yield Yield topped up occupan Malls Italy (70.0% on total MV) 1,466.5 1,406.3 (-4.11%) 7.50% 94.1% 6.0% 6.3% Hypermarkets Italy (19.1% on total MV) 401.2 398.6 (-0.63%) 6.71% 100.0% Romania (6.3%
Slide 15: Shopping centers confirmed to be a profitable assets class
Shopping centers confirmed to be a profitable assets class CBRE prime yields Italia Average IGD’s malls net exit yield 6.95% 6.50% 5.15% 5.00% 4.10% 3.90% 3.75% BTP10Y yield Shopping centers are the asset class with the largest spread with respect to the Italian BTP10y yields and better positioned i
Slide 16: Epra indicators
Epra indicators € per share 1H 2023 FY 2022 Δ% NRV 9.54 10.28 -7.1% NTA 9.47 10.20 -7.2% NDV 9.76 10.06 -2.9% Some figures may not add up due to rounding 16
Slide 17: A portfolio increasingly green
A portfolio increasingly green SHOPPING CENTERS % MV ITALIAN MALLS CERTIFIED CERTIFIED 10 63% N° ENERGY ENERGY PRODUCED PLANTS PRODUCED OUT OF TOT. ITALY+ROMANIA Mw CONSUMED 11* 3,450 6.3% N° HYPERMARKETS WITH PLANTS ITALY TENANT DIRECT INVESTMENT FOR SELFCONSUMPTION 12 Benefits for the community in
Slide 18: ESP Net Zero project
ESP Net Zero project Centro ESP in Ravenna will begin its journey to become «Zero Carbon Emissions» Initially, replacement of traditional heating/cooling systems at all shops and the mall’s common areas with highly energy efficient equipment to reduce costs for both IGD and its tenants. Afterwards,
Slide 19: Investment pipeline c. 82€mn
Investment pipeline • Pipeline of the Business Plan almost completed by the end of 2023 • Investments reduction from 2024 onwards, no development projects 20€mn c.82€mn 11.5€ mn ~13 12€mn 9.0€ mn 9.0€ mn 15€mn ~32 35€mn ~12 Porta a Mare project Asset renwals Non committed investments ~ 25 ESG Invest
Slide 20: 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 IGD • 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
Slide 21: A new iconic destination for shopping and entertainment
A new iconic destination for shopping and entertainment OFFICINE STORICHE • >16,000 sqm GLA • 16 shops, 11 food&beverage, 1 entertainment area , 1 fitness center Already opened on Ingresso Officine Storiche September 14th Opening in November 2023 Expected opening Panoramica dell’area Porta a Mare 2H
Slide 22: Officine Storiche residential
Officine Storiche residential 42 flats 29 units sold 3 binding proposals CASH IN: c.7€mn in 2022 c.7€mn expected in 2023 22
Slide 23: Update restyling in progress: Portogrande (Ap)
Update restyling in progress: Portogrande (Ap) Inauguration 23/11/2023 COMPLETE RESTYLING: Mall: • Floor, walls and windows • Relamping with LED lighting system Exterior: • New facades, entrances and lighting system • Photovoltaic system in the parking lots • New green areas Work start: January 2023
Slide 24: Update restyling in progress: Centro Leonardo (Imola – BO)
Update restyling in progress: Centro Leonardo (Imola – BO) COMPLETE RESTYLING : Mall: • New layout of common areas • Relamping with LED lighting system Start work: May 2023 End of work: 2Q 2024 Exterior: • New entrances • Green areas • LED lightins system Start work: 2H 2024 End of work: 2Q 2025 24
Slide 25: ESG Capex: Energy efficiency targets
ESG Capex: Energy efficiency 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
Slide 26: ESG Capex: Energy efficiency improvements
ESG Capex: Energy efficiency improvements 7 Photovoltaic systems to be added to the 8 already existing 26
Slide 27: Operating performances 9M23
3 Operating performances 9M23
Slide 28: Good operating performances continue in Italian shopping centers
Good operating performances continue in Italian shopping centers… MALLS TENANT MALLS FOOTFALLS IGD’S HYPER/ SALES* SUPERMARKETS +6.2% +5.4% +4.9% 9M 2023 9M 2023 9M 2023 * Total change 2023 vs 2022 28
Slide 29: …and (almost) all the merchandise categories increased
…and (almost) all the merchandise categories increased Tenant sales Italy 9M23vs22 Clothing Household Culture, leisure Personal and Electronics Restaurants Services goods and gift items healthcare (Weight on (48.5%) (7.7%) (11.3%) (9.0%) (10.3%) (7.8%) (4.8%) tot. rents) Some brands of IGD’s portfol
Slide 30: Leasing activities in Italy
Leasing activities in Italy LEASING ACTIVITIES • 135 contracts (equal to approx. 6.5% of Group total rent) of which 93 renewals and 42 turnovers • Average downside: -1.4%* (9M indexation effect +7%) OCCUPANCY 95.3% Increasing vs 1H23 (+10bps) COLLECTION RATE** > 94% ≈ 100% 9M 2023 FY 2022 Some pictu
Slide 31: Officine Storiche opening: a big success
Officine Storiche opening: a big success FOOTFALLS FOOTFALLS OCCUPANCY* first 4 days of first 45 days of 95% opening opening >110,000 >440,000 * Opened and pre-let units 31
Slide 32: An example of space remodeling: La Torre – Palermo
An example of space remodeling: La Torre – Palermo • FOOTFALLS Hypermarket reduction 3 new medium surfaces and change of tenant created (7,200m2 GLA) (+4,700m2 GLA) +17.5% (09/23 vs 09/22) • OCCUPANCY 100% • Soaring of hypermarket profitability due to surfaces Creation of new stands recalibration: +
Slide 33: An example of repositioning: Puntadiferro in Forlì 1/2
An example of repositioning: Puntadiferro in Forlì 1/2 An area of the city Strategies and activities carried out by IGD in the that is expanding: last months: industrial area in further ➢ A more differentiated offer in the food court with development + an adjacent Retail new healthy and traditional
Slide 34: An example of repositioning: Puntadiferro in Forlì 2/2
An example of repositioning: Puntadiferro in Forlì 2/2 Occupancy*: 96.1% 85% FY2021 9M2023 Operating Performances jan-sept23vs22: +9.0% +7.1% TENANT SALES FOOTFALLS *On GLA 34
Slide 35: An example of repositioning: Tiburtino in Rome 1/2
An example of repositioning: Tiburtino in Rome 1/2 Strategies and activities carried out by IGD in the last months: ➢ More non-food category killers with a focus on convenience ➢More restaurants ➢ New attractive international and national brands and expansion of the «Household goods» category offer
Slide 36: An example of repositioning: Tiburtino in Rome 2/2
An example of repositioning: Tiburtino in Rome 2/2 Occupancy*: 99.0% 89.1% FY2021 9M2023 Operating Performances jan-sept23vs22: +8.9% +8.8% TENANT SALES FOOTFALLS *On GLA 36
Slide 37: Leasing activities in Romania...
Leasing activities in Romania... LEASING • 404 contracts of which 288 renewals and 116 turnovers • Average upside +2.28% OCCUPANCY 97.1% Increasing vs 1H23 (+30bps) COLLECTION RATE* ≈ 96% ≈ 100% 9M 2023 FY 2022 Some pictures from the latest openings * Figure as at 7 November 2023 37
Slide 38: ...on a continuosly evolving portfolio
...on a continuosly evolving portfolio Buzau: strong connection with the community with a public investment on the central square Consolidated partnerships with leading international brands 3 openings 2 openings 38
Slide 39: Financial Results 9M23
4 Financial Results 9M23
Slide 40: Highlights
Highlights 9M2023 Δ vs Like for FY2022 (€mn) 2022 like (€mn) Rental Income 105.4 +3.2% 137.3 Net Rental Income 88.4 +5.7% +8.1% 114.0 Core Business Ebitda 81.0 +6.7% 103.4 Funds From Operations (FFO) 44.4 -11.9% 67.2 Real Estate Portfolio 2,005.1* 2,080.9 Market Value (excluding leasehold) 9.54 €* 1
Slide 41: Net rental Income
Net rental Income Like for like Var. vs 2022 net rental +4.8€mn income +5.7% +8.1% €mn Like for like: +8.1% (+6.5 €mn) Portfolio direct costs • Malls (+3.5€mn; +4.7%): thanks to commercialization and indexation effect (+5.1 €mn (condominium fees) +7.0%), partially offset by higher temporary reductio
Slide 42: Core business Ebitda (€mn)
Core business Ebitda (€mn) Change vs 2022 +5.0€mn +6.7% Core business 2022 2023 EBITDA 70.7% 72.9% MARGIN EBITDA 2022 2023 MARGIN 72.5% 75.0% freehold Some figures may not add up due to rounding 42
Slide 43: Financial management
Financial management IFRS16 and non recurring charges Financial Management. Adj * : + 10.4 €mn vs 2022 (+55.2%) due to higher average cost of new loans obtained * Financial management adj: net of IFRS16 (0.7€mn) and IFRS9, non recurring charges Some figures may not add up de to rounding 43
Slide 44: Funds From Operations (FFO)
Funds From Operations (FFO) Of which: +5.0 €mn change in core business Ebitda; -0.5 €mn increase in payable leases; -0,1 other non recurring items Change vs 2022 -6.0€mn -11.9% * Financial management adj: net of IFRS16 (0.7€mn) and IFRS9, non recurring charges and negative carry Some figures may not
Slide 45: Net debt and LTV
Net debt and LTV Net debt 31/12/23 Net debt 30/09/23 € 976.94 mn €970.86 mn Long term financial Long term financial Strumenti Strumenti Strumenti Strumenti finanziari finanziari finanziari instruments finanziari aa a lungo a lungo instruments Strumenti finanziari lungo termine termine a lungo lungo
Slide 46: Financial Strategy and Outlook
5 Financial Strategy and Outlook
Slide 47: Financial strategy
Financial strategy Maintaining a rigorous financial discipline consistent with IG profile Early refinancing of maturities Significant track record of refinancing transactions also by means of sustainable finance tools 47
Slide 48: Exchange/tender offer and consent solicitation to refinance 2024 bond
On 5 October IGD launched an Exchange/tender offer and a consent solicitation to refinance the bond expiring in 2024… 5 October 2023: launched a transaction to refinace the 400€mn bond expiring in november 2024 5 October – 10 November: period of the transaction 5 October – 13 October: EARLY BIRD PER
Slide 49: …and the target has been achieved
…and the target has been achieved 14 NOVEMBER 2023 NOTEHOLDERS MEETING AND FINAL RESULTS • Results of exchange/tender offer on the bond due November 2024: aggregate take-up is equal to 85.55% • Issue of new senior bond expiring in 2027 • Approval by the noteholders' meeting of the amendment of certa
Slide 50: Debt maturity after the successfull refinancing transaction
Debt maturity after the successfull refinancing transaction Of which: • 310€mn new senior bond • 58€mn existing bond with amended terms and conditions 400 Private placement re-paid on 13th of November 100 208 278* 5 46 32 €mn 24 3Q2023 2024 2025 2026 2027 2028 Bank debt Private Placement Bond No sig
Slide 51: A strategic asset rotation to reduce leverage
A strategic asset rotation to reduce leverage In the Business Plan disposal of assets was considered optional, while now it is an integral part of the Group’s financial strategy. The scope of potential targets has also been enlarged with respect to the original plan. Potential targets Strategic rati
Slide 52: 2023 Outlook review
2023 Outlook review Considering the solid operating results achieved, the impacts of the refinancing transaction just completed and based on the currently predictable scenario, the Company expects Funds From Operation (FFO) for the entire 2023 approx. € 53 million 52
Slide 53: ESG Strategy At-a-glance
6 ESG Strategy At-a-glance
Slide 54: A transparent approach to ESG
A transparent approach to ESG 54
Slide 55: 2022-2024 Sustainability Plan
2022-2024 Sustainability Plan 41 targets at 2024: 22 ambitions toward 2030 • Material for IGD STRATEGY • Consistent with UN SDG’s IGD RELEVANT SDG’S 55
Slide 56: Some details of the CSR achievements
Some details of the CSR achievements Invested more than €3.0 mn Bio Safety Certification Induction actitivies Carried out Defined the to improve energy efficiency; obtained for all freehold with the BoD relating Sustainability assets, as well as for the to corporate restyling/refurbishme Framework r
Slide 57: What we have done_GREEN
What we have done_GREEN 11 Photovoltaic systems installed in 10 Shopping Centers The Shopping Centres can have an impact on the environment due to: 20 Shopping Centres equipped with LED lighting systems 1. the large amount of energy they consume 2. the road traffic they can create 85% Electricity fr
Slide 58: BP Targets
BP Targets 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 consumption
Slide 59: Green Transition
Green Transition 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 ISO14001 and
Slide 60: What we have done_RESPONSIBLE
What we have done _RESPONSIBLE 98% % permanent contracts(2022) IGD undertakes to behave in a responsible manner towards people. With its employees it is committed to fostering “good 100% % employees trained during the year (2022) employment”, where continuous skills development and the promotion of
Slide 61: BP Targets
BP Targets 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 Innovation Awa
Slide 62: What we have done_ETHICAL
What we have done_ETHICAL % of least represented gender in the Board of 45% Directors • IGD adopted a governance system aligned with the best practices of listed companies. • The Company undertakes to operate ethically 7 on 11 Independent Directors and to ensure that all the necessary safeguard meas
Slide 63: BP Targets
BP Targets 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 legal
Slide 64: What we have done_ATTRACTIVE
What we have done_ATTRACTIVE IGD’s commitment to ensure its Shopping Centres 21.7% Social-environmental events - % out of total are, and remain, attractive, involves: (2022) • A continuous enhancement of the areas, both 2.3 mn Total € spent annually by IGD Shopping Centres on from an architectonic p
Slide 65: BP Targets
BP Targets 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 adjustments b
Slide 66: What we have done_TOGETHER
What we have done_TOGETHER IGD enters into contact with a variety of stakeholders, both at institutional level and at a more local one. 1.300 Meeting with tenant (2022) • It has established a continuous dialogue with these in order to understand their 2 mn Sponsorships to local associations (2012-20
Slide 67: BP Targets
BP Targets 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-based ro
Slide 68: Appendix
7 Appendix
Slide 69: Consolidated Income Statement as at 30/09/2023
Consolidated Income Statement as at 30/09/2023 69
Slide 70: Funds From Operations (FFO) as at 30/09/23
Funds From Operations (FFO) as at 30/09/23 Δ% Funds from Operations CONS_2022 CONS_2023 Δ 2022 vs 2022 Core business Ebitda 76.1 81.0 5.0 6.5% IFRS16 adjustments (payable leases) -6.1 -6.6 -0.5 7.5% Financial management adj. -18.8 -29.2 -10.4 55.2% Extraordinary management adj. 0.0 0.0 0.0 n.a. Gros
Slide 71: Re-classified balance sheet as at 30/9/23
Re-classified balance sheet as at 30/9/23 GEARING RATIO (€000) 71
Slide 72: Other EPRA Metrics as at 30/06/23
Other EPRA Metrics as at 30/06/23 EPRA Performance Measure 30/06/2023 31/12/2022 EPRA NRV (€'000) 1.052.986 1.133.860 EPRA NRV per share € 9,54 € 10,28 EPRA NTA 1.045.293 1.125.979 EPRA NTA per share € 9,47 € 10,20 EPRA NDV 1.077.334 1.110.002 EPRA NDV per share € 9,76 € 10,06 EPRA Net Initial Yield
Slide 73: EPRA Net Asset Value as at 30/06/23
EPRA Net Asset Value as at 30/06/23 30/06/2023 31/12/2022 Net Asset Value EPRA NRV EPRA NTA EPRA NDV EPRA NRV EPRA NTA EPRA NDV IFRS Equity attributable to shareholders 1.040.798 1.040.798 1.040.798 1.121.800 1.121.800 1.121.800 Exclude: v) Deferred tax in relation to fair value gains of IP 17.680 1
Slide 74: More financial highlights and debt breakdown as at 30/09/23
More financial highlights and debt breakdown as at 30/09/23 30/06/2023 30/09/2023 Debt breakdown* Gearing ratio 0.95X 0.93X Average lenght of long term debt 2.7 years 2.4 years Hedging on long term debt + bond 86.5% 86.2% Share of M/L debt 88.0% 88.8% Uncommitted credit lines granted 103 € mn 103 €
Slide 75: E-commerce in Italy…
E-commerce in Italy… ➢ E-commerce penetration rate on product is stable at 11% for the third year in a row while penetration rate on services is increasing. E-commerce penetration rate on services E-commerce penetration rate on products ➢ The highest peaks of online sales, reached every year in Dece
Slide 76: …and our response
…and our response What IGD is doing: ➢ Tenant sales and footfall are up in 2023 compared to 2022, testifying to the interest of visitors in frequenting IGD Shopping Centers ➢ IGD implemented a Digital Plan in 2020; in 2021 defined a Customer Relationship Management (CRM) system. Current focus: incre
Slide 77: Contracts and key tenants Italy
Contracts and key tenants Italy Merchandise Turnover Malls TOP 10 Tenant Contracts category impact N 101 N 230 N 157 N 899 clothing 2.7% 11 clothing 2.6% 10 electronics 2.4% 9 Average residual maturity: 4.3 years clothing 2.0% 10 Total contracts: 1,387 of which 93 renewals with the same tenant and 4
Slide 78: Contracts and key tenants Romania
Contracts and key tenants Romania Merchandise Turnover TOP 10 Tenant Contracts category impact Winmarkt supermarket 11.3% 11 N 63 N 259 N 134 N 126 clothing 5.3% 6 clothing 4.7% 11 clothing 3.7% 7 drugstore 2.6% 5 healthcare 2.1% 4 office 1.9% 1 Average residual maturity: 4.3 years entertainment 1.8
Slide 79: Merchandising & Tenants Mix
Merchandising & Tenants Mix Italy Romania Merchandising Mix* Tenant Mix* *Internal processing on sqm 79
Slide 80: Winmarkt Portfolio
Winmarkt Portfolio 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-financed mana
Slide 81: 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 82: Investor Relations contacts
Raffaele Nardi, Director of Planning, Control and Investor Relations T. +39. 051 509231 Raffaele.nardi@gruppoigd.it Claudia Contarini, IR 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 5