Immobiliare Grande Distribuzione SIIQ S.p.A. · MIL:IGD
Immobiliare Grande Distribuzione SIIQ — IGD Siiq — Non-Deal Roadshow (February 2009)
13 slides from Immobiliare Grande Distribuzione SIIQ's roadshow presentation, Feb 19, 2009
Slide 1: Paris Roadshow
Paris Roadshow February, 19th 2009
Slide 2: Disclaimer
Disclaimer This presentation contains forwards-looking information and statements about IGD SIIQ SPA and its Group. Forward-looking statements are statements that are not historical facts. These statements inclued financial projections and estimates and their underlying assumptions, statements regar
Slide 3: Unique portfolio in Italy
Unique portfolio in Italy Freehold properties The IGD’s portfolio is made up of: Lombardia Trentino 1 shop ping mall 1 shopping mall 14 hypermarkets 10 shopping malls Ve neto Piemonte 1 plot of land 1 shop ping mall 3 shopping centres in jv Rgd + retail park 4 plots of land. Emilia Romagna Toscana 2
Slide 4: Winmarkt's Portfolio
Winmarkt’s Portfolio Winmarkt Portfolio is made up of : • 15 shopping malls Winmarkt’s locations • 1 office building • A preliminary agreement for the acquisition of SINAIA mall (under refurbishment) The department stores are in prime central locations (Municipality square, Railway station square, e
Slide 5: A portfolio generating healthy cash flows
A portfolio generating healthy cash flows Portfolio Breakdown + CORE SHOP P ING M A LLS IGD handles a unique portfolio in the retail real estate 37,12% sector: •hypermarkets generate good and stable cash flows, VA LUE SHOP P ING •core shopping malls represent a rewarding and IP ERM A RKETS M A LLS s
Slide 6: 2008: our shopping centres
2008: our shopping centres SALES 350,00 + 300,00 mn 2008 YoY Changes 250,00 • Entrances: -0.39% • Sales of tenants, like for like: -0.96% 200,00 • Total sales of tenants: +11.83% 150,00 • Hypmkt’s sales: -0.16% 100,00 50,00 0,00 ENTRANCES 6,00 2007 2008 mn 5,00 Breakdown by surface 4,00 3,00 SPORT 1
Slide 7: Dynamic Portfolio
Dynamic Portfolio 377 810 30 June 431 800 2008 101 195 507 UNDER COSTRUCTION UNDER REASSESMENT UNDER NEGOTIATION ALREADYOPERATIVE TO BE SIGNED BP '05- '08 BP '08-'12 442 810 188 501 42 140 80 800 today 405 UNDER UNDER UNDER COMPLETED BUT ALREADY CANCEL TO BE SIGNED BP '05-'08 BP '08-' 12 COSTRUCTION
Slide 8: Next Openings
Next Openings Lombardia 1 centro commerciale UNDER COSTRUCTION VALUE OPENING NOTE GUIDONIA 116 1 H '09 Veneto PALERMO 50 2010 5 centri commerciali CATANIA 59 1 H '09 Emilia Romagna CONEGLIANO 16 2010 Piemonte VIBOVALENTIA 35 2010 1 centro commerciale 12 centri commerciali LIVORNO 80 2012 Marche e Ab
Slide 9: Access to funding
Access to funding Committed line available: € 75 mn Banking confidence: € 140 mn Romanian Cash: € 20 mn Term sheets blocked: € 108 mn Term sheets not blocked: € 50 mn Assets free of guarantees: € 450 mn Covenants of long term loans: • € 230 mn free of covenants (Convertible Bond) • € 210 mn, whose m
Slide 10: 9 M Net Debt and Enterprise Value
9 M Net Debt and Enterprise Value Net Debt 30 Sept 2008 Enterprise value 22,52 19.31 0,86 0,81 521 604,99 642,1 642.09 746,7 750,0 124.3 SHOR T T ER M D EB T LO N G T ER M D EB T O PT IO N O F C A SH&EQU IV A LEN T S PF N W IN M A G A Z IN giu-08 set-08 EQUITY DEBT D/E + LT Debt Breakdown at Septemb
Slide 11: 1H08 Results: Revenues growth and breakdown
Revenues: growth and breakdown Revenues net of reinvoices BREAKDOWN REVENUES 80,00 66.4 70,00 1H08 RESULTS 3,14 51.89 60,00 8,34 50,00 2,09 9,60 40,00 30,00 55,46 20,00 40,20 10,00 0,00 9 M '07 9 M '08 Rents freehold Rents leasehold Services revenues 0,36 0,11 2,7 8,34 15,26 2,52 0,5 0,27 0,45 0,47
Slide 12: Ebitda
Ebitda EBITDA 50,00 45,00 40,00 35,00 30,00 25,00 45,06 20,00 34,68 15,00 10,00 5,00 0,00 9 M '07 9 M '08 EBITDA 9The EBITDA increase by 29.96% in line with our growth path. 9The EBITDA MARGIN in September ’08 was 67.32%, in line with our strategic plan target February 2009 12
Slide 13: Net Debt Change (30 June 08-30 Sept. 08)
Net Debt Change (30 June 08-30 Sept. 08) 19,74 3,60 21,69 0,11 6,86 0,21 0,96 604,99 642,10 NFP 30 JUNE NET PROFIT D&A CHANGE IN FAIR CHANGE IN NWC CHANGE IN CAPEX CHANGE EQUITY NFP 30 SEPT VALUE OTHER LIAB./ASS February 2009 13