Immobiliare Grande Distribuzione Siiq S.p.a. · MIL:IGD
Immobiliare Grande Distribuzione Siiq — Non-Deal Roadshow (November 2016)
73 slides from Immobiliare Grande Distribuzione Siiq's roadshow presentation, Nov 17, 2016
Slide 1: Road Show Presentation: Results as at 30/09/2016 & Update BP2016-2018
Road Show Presentation Results as at 30/09/2016 & Update BP2016-2018
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute an offer or an invitation to subscribe for or purchase any securities. The securities referred to herein have not been registered and will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the “Securities Act”),
Slide 3: Index
3 Index INTRODUCTION TO THE IGD GROUP 4 IGD’S RESULTS AS AT 30/09/016 19 UPDATE OF BUSINESS PLAN 2016-2018 37 APPENDIX 53
Slide 4: Introduction to the IGD group
Centro d’Abruzzo - Chieti Introduction to the IGD group
Slide 5: IGD is one of the main players in the Italian retail real estate sector
5 IGD is one of the main player in the Italian retail real estate sector: develops and manages shopping centers across the country and has a significant presence in retail distribution in Romania Presence throughout the territory, capital strength, processing power, control and management of all pha
Slide 6: IGD unique positioning in the Italian retail property sector
6 IGD unique positioning in the Italian retail property sector Large portfolio of retail property assets with a strong customer base generating sound 1 and visible revenues and growing cashflows over the business plan timespan 2 Strong competitive position in the stable and attractive Italian retail
Slide 7: Our business model
7 Our business model A careful merchandising mix, marketing activity adapted to each DIRECT MANAGEMENT context and various customer related services and careful OF THE SHOPPING CENTRES attention paid to tenants’ needs MEDIUM SIZED AND EASILY In line with the geographical structure of Italy which is
Slide 8: IGD: A cluster of retail assets dominant in their catchment area
8 IGD: A cluster of retail assets dominant in their catchment area IGD Principal NORTHERN ITALY Italian Assets MONDOVICINO SHOPPING I BRICCHI CENTRO SARCA GRAN RONDÒ MILLENNIUM GALLERY CONÈ CENTER & RETAIL PARK ISOLA D'ASTI (AT) SESTO S. GIOVANNI (MI) CREMA (CR) ROVERETO (TN) CONEGLIANO (TV) MONDOVÌ
Slide 9: Italian and Romanian portfolio (as at 30/06/2016)
Italian and Romanian portfolio 9 (as at 30/06/2016) 56 REAL ESTATE UNITS IN 11 ITALIAN REGIONS : 21 Malls and hypermarkets* 25 Hypermarkets and supermarkets 14 SHOPPING CENTERS + 1 OFFICE BUILDING IN 13 1 city center DIFFERENT MEDIUM-SIZED CITIES 2 plots of land for development 1 property held for t
Slide 10: Italian Portfolio: hypermarkets and shopping malls
10 Italian Portfolio: hypermarkets and shopping malls (as at 30/06/2016) 21 SHOPPING MALLS 25 HYPERMARKETS TENANTS OF HYPERMARKETS CENTRO D'ABRUZZO - Pescara CENTRO D'ABRUZZO - Pescara Coop Alleanza 3.0 PORTO GRANDE - Porto d'Ascoli (AP) PORTO GRANDE - Porto d'Ascoli (AP) Coop Alleanza 3.0 ESP - Rav
Slide 11: Portfolio characteristics
11 Portfolio characteristics (as at 30/06/2016) ITALY ROMANIA HYPERMARKET MALLS AVERAGE MALLS Financial Occupancy 100% 95.99% 97.34% 95.13% Market value as at 30 June 2016 €mn 638.31 1,141.08 163.45 Weight on the total value of the portfolio 30.5% 54.5% 7.8% Compounded average yield of total portfol
Slide 12: Market Value evolution
12 Market Value evolution (as at 30/06/2016) € mn Mkt Value Mkt Value 31/12/2015 30/06/2016 Malls + Hypermarkets + Other Italy 1,775.73 1,784.25 City Center (Piazza Mazzini) 23,70 23.70 Total income related portfolio ITALY 1,799.43 1,807.95 Total income related portofolio Romania 170.60 166.05 TOTAL
Slide 13: Italian and Romanian portfolio (as at 30/06/2016)
Italian and Romanian portfolio 13 (as at 30/06/2016) MARKET VALUE BREAKDOWN OF IGD’S PORTFOLIO BY IGD’S ITALIAN PORTFOLIO BREAKDOWN BY TYPE OF ASSET GEOGRAPHICAL DISTRIBUTION (mkt value) 1.1% 7.9% 0.2% 4.2% 17.8% 1.5% 30.5% 43.4% 25.8% 54.5% 12.9% HYPER/SUPERMARKETS MALLS LANDS OTHER PORTA A MARE WI
Slide 14: NNNAV
NNNAV 14 (as at 30/06/2016) 31-Dec-15 30-Jun-16 D% €'000 € p.s. €'000 € p.s. Total number of shares 813,045,631 813,045,631 1) Group's shareholders equity 1,022,053 1.26 1,014,010 1.25 -0.8% Excludes: Fair Value of financial instruments 34,990 35,417 1.2% Deferred taxes 19,917 19,382 -2.7% Goodwill
Slide 15: Main lease terms
15 Main lease terms Italian Shopping Malls Italian Hypermarkets Romanian Shopping Malls Main lease terms Main lease terms Main lease terms Average maturity: Average maturity: Average maturity: Lease agreement (space only): 6 to 18 years 2 years for local tenants 6 years (+ 6 years) (with tacit renew
Slide 16: SIIQ regime: main features
16 SIIQ regime: main features SIIQ STATUS FOR IGD SINCE 1 JANUARY 2008 At least 80% of total assets must be rental asset KEY PARAMETERS At least 80% of total positive components of P&L must be rental income (excluding change in FV) Largest shareholder stake ≤ 60% (vs. previous 51%) SHAREHOLDING LIMI
Slide 17: IGD's shareholders
17 IGD’s shareholders IGD IS LISTED ON THE STAR SEGMENT OF BORSA ITALIANA TOTAL SHARES 813,045,631 SHARE CAPITAL € 599,760,278.16 5,39% Coop Alleanza 3.0 Unicoop Tirreno 40,92% 41,66% Free Float Market Quantum Strategic 47.5% Partners Ltd 12,03% MARKET SHAREHOLDING REFLECTED IN A GOVERNANCE STRUCTUR
Slide 18: IGD Governance
18 IGD Governance Composition of the current Board of Directors Vice Chairman IGD’s governance has been in line Chairman Gilberto Fernando CEO with the criteria of the Self Regulatory Coffari Claudio Pellegrini Code of Italian Stock Exchange since Albertini the listing. Caporioni Leonardo Gasperoni
Slide 19: IGD top management
19 IGD top management GILBERTO COFFARI (1946) CLAUDIO ALBERTINI (1958) Chairman Chief Executive Officer Chairman of IGD's Board since its creation in 2000 Appointed in May 2009 Chairman of Coop Adriatica from 2006 to 2011 Board member at IGD since 2006 Acted as Director and Chairman for a number of
Slide 20: Results presentation as at 30/09/2016
Puntadiferro - Forlì FY 2009 RESULTS Bologna November 11, 2011 Results presentation as at 30/09/2016 (released on 8 of November 2016)
Slide 21: Highlights as at 30/09/2016 1/2
21 Highlights as at 30/09/2016 1/2 €101.4 mn Core business revenues (+7,8% vs 30/09/2015) EBITDA €70.5 mn •EBITDA (core business) (+10.7% vs 30/09/2015) 69.5% •EBITDA margin (core business) ( +1.8p.ts vs 30/09/2015) 78,9% •EBITDA margin from Freehold ( +1.3 p.ts vs 30/09/2015) Group Net Profit €37.2
Slide 22: Highlights as at 30/09/2016 2/2
22 Highlights as at 30/09/2016 2/2 FINANCIAL OCCUPANCY at 30/09/2016 97.4% •ITALY (97.3% at 30/06/2016) •ROMANIA 95.7% (95.1% at 30/06/2016) €1,004.7 mn Net Debt (vs €1,009.5 mn at 30/06/2016) Gearing ratio 0.95 (vs 0.96 at 30/06/2016) 48.0% Loan to value (vs 48.2% at 30/06/2016)
Slide 23: Economic and Financial Results
Le Porte di Napoli - Afragola (NA) ECONOMIC AND FINANCIAL RESULTS
Slide 24: Revenues
24 Revenues BREAKDOWN OF RENTAL REVENUES BY TYPE OF TOTAL REVENUES (€/000) ASSETS 95,647 101,992 120,000 +6.6% 110,000 6.6% 590 100,000 1,570 3,897 1.1% 90,000 3,811 80,000 70,000 30.7% 60,000 97,505 50,000 90,266 61.5% 40,000 30,000 20,000 CONS_2015 CONS_2016 MALLS HYPERMARKETS OTHER ROMANIA Rental
Slide 25: Rental income drivers
25 Rental income drivers (€/000) ITALY ROMANIA +8.0% +2.2% +1.8% -659 142 6,304 1,452 97,505 90,266 Revenues from rental act LFL Italy Acquis/Exten/Restyling Disposal+others LFL Romania Revenues from rental act 9M_2015 9M_2016 LFL: Malls +2.6% Higher revenues on non like- Negative change due to Via
Slide 26: Operating costs and financial management
26 Operating costs and financial management CORE BUSINESS DIRECT COSTS AND G&A EXPENSES (€ 000) Lower impact of operating costs on revenues 7,473 7,626 Core business Ebitda margin G&A Direct costs (69.5%) is growing: +1.8 bps 22,939 23,276 Ebitda margin Freehold: 78.9% 30/09/2015 30/09/2016 FINANCIA
Slide 27: Group Net Profit: €37.2 MN
27 Group Net Profit: €37.2 MN NET PROFIT EVOLUTION (€ 000) 40000 -13 987 -449 -785 146 35000 6,837 30000 +22.1% 25000 37,155 20000 30,432 15000 10000 Group Net Profit Change in core business Change in "Porta a Mare" Change in depreciations, Change in financial and Change in taxes Change in profit/lo
Slide 28: Funds From Operations
28 Funds From Operations Funds from Operations 30/09/15 30/09/2016 D D% Pre-tax profit 31,801 40,211 8,410 26.4% Of which: Depreciations and other provisions 1,101 986 -115 -10.4% Change in Fair Value and devaluation 981 -1,167 -2,148 • + €6.8 mn due to increase -219.0% Extraordinary management in E
Slide 29: Operating Performance
Centro Sarca – Sesto San Giovanni (MI) OPERATING PERFORMANCE
Slide 30: Commercial Highlights
30 Commercial Highlights Footfalls in IGD Italian Shopping malls -0.9% yoy Tenants sales in IGD Italian shopping malls +2.8% yoy Hypermarket sales -2.3% yoy (owned by IGD) Footfalls in Romanian shopping malls +3.3% yoy
Slide 31: Financial Structure
Conè – Conegliano FY 2009 RESULTS FINANCIAL STRUCTURE Bologna November 11, 2011
Slide 32: Financial Highlights at 30/09/2016 1/2
32 Financial Highlights at 30/09/2016 1/2 30/06/2016 30/09/2016 GEARING RATIO (D/E) 0.96 0.95 LOAN TO VALUE 48.2% 48.0% AVERAGE COST OF DEBT* 3.23% 3.30% *Net of accessory charges on loans (both recurrent and not) INTEREST COVER RATIO 2.37X 2.32X LONG TERM DEBT AVERAGE RESIDUAL MATURITY (bond includ
Slide 33: Financial Highlights at 30/09/2016 2/2
33 Financial Highlights at 30/09/2016 2/2 30/06/2016 30/09/2016 SHARE OF MEDIUM/LONG TERM DEBT 92.5% 89.8% HEDGING ON LONG TERM DEBT + BOND 95.3% 94.3% UNCOMMITTED CREDIT LINES GRANTED €301.5 mn €276.0 mn UNCOMMITTED CREDIT LINES AVAILABLE €275 mn €248.3 mn COMMITTED CREDIT LINES GRANTED AND AVAILAB
Slide 34: Financial maturity profile
34 Financial maturity profile Limited financial maturities in the coming years 300 250 Bond still to be repaid 200 300 Bond already repaid 150 Bank debt already repaid CMBS 105 (€135mn); Bank debt still to be repaid 2016 early closure option: 100 125 162 May 30 ≈€30mn already 50 repaid 42 8 53 52 •
Slide 35: After the closure of the third quarter…
Maremà- Grosseto AFTER THE CLOSURE OF THE THIRD QUARTER…
Slide 36: IGD continues to grow: Opening of Maremà shopping center
36 ….IGD continues to grow 27 October 2016 Opening of Maremà shopping center in Grosseto The new shopping center consists of a mall (GLA of about 17,000 m²) divided into 44 shops and 7 interior medium surfaces, a hypermarket (owner Unicoop Tirreno) and 5 exterior medium surfaces. Main retailers: Ind
Slide 37: Centro Sarca restyling: finalist at Mapic Awards
37 Centro Sarca restyling: finalist at Mapic Awards Centro Sarca was selected by a jury of qualified sector operators from all over the world to be one of the finalists in the Best Redeveloped shopping centre category, along with three other centers situated in Austria, Estonia and China.
Slide 38: 2016-2018 Business Plan update presentation
Centro Sarca – Sesto San Giovanni (MI) FY 2009 RESULTS Bologna November 11, 2011 2016-2018 Business Plan update presentation (released on May 2016)
Slide 39: Why an update of the Plan?
39 Why un update of the Plan? Evolution of the macro-economic context Important acquisition carried out at the end of 2015, not foreseen in the 2015-2018 Business Plan New financial operations All this, continuing the strategy of development and pipeline completion
Slide 40: Macroeconomic context (updated autumn 2016)
40 Macroeconomic context (updated autumn 2016) Even though economic forecasts were revised downwards, the Italian economy should continue to expand: GDP expected at +0.8% in 2016. * Growth will be mainly driven by consumption, which is expected to increase in 2016 (+1.2% at year end) thanks to an in
Slide 41: The retail real estate
41 The retail real estate Retail investments evolution in Italy Total retail investments in 1H2016: approx. €900 mn +40% vs 1H2015 The retail real estate sector in Italy recorded positive results in 1H2016 with a total investment of approx. 900 million of Euro, +40% compared to the same period last
Slide 42: Strategy confirmed
42 Strategy confirmed Goal: Confirm our position as a leading owner and manager of shopping centers in Italy and continue our path of a sustainable growth SUSTAINABILITY FULLY INTEGRATED IN THE BUSINESS PLANNING ASSET MANAGEMENT FULLY INTEGRATED APPROACH COMMERCIAL/ FINANCE MARKETING
Slide 43: Main targets - BP 2016-2018
43 Main targets - BP 2016-2018 New Targets BP 2016-2018 Target previous plan (BP 2015-2018) REVENUES FROM RENTAL Total growth> +20% approx. Total growth: confirmed ACTIVITIES cagr* +7% approx. Cagr > +5% approx., increasing cagr* LFL +2% approx. Cagr LFL confirmed EBITDA MARGIN Core business >70%
Slide 44: Assumptions on Italian and Romanian revenues
44 Assumptions on Italian and Romanian revenues ITALY • Occupancy increase (about 1 percentage point with evidence already from 2016) and constant decrease of temporary reductions • Contribution for the whole year of the assets acquired/opened in 2015 (Puntadiferro and Clodì) • Development of revenu
Slide 45: Focus on new openings
45 Focus on new openings Overall growth LFL Rental Revenues (lfl 2015) > + 6% + New openings = Total rental revenues > + 20% Of which: 1. puntadiferro and Chioggia excluded from the like-for-like as opened/acquired in 2015. Whole year revenues already from 2016 2. NEW PROJECTS: Grosseto (opening in
Slide 46: Assumptions on costs and Ebitda evolution
46 Assumptions on costs and Ebitda evolution Costs increase over BP timespan (mainly due to extension of portfolio perimeter for investments), but their impact on revenues decrease. Core business Ebitda and Ebitda margin evolution €87 mn > 70% 67.3% 2015 2016 2017 2018 Ebitda and related margin perf
Slide 47: Assets management assumptions
47 Assets management assumptions 1) Investments evolution 2016 - 2018 • Total investments: approx. €195 mn • Of which, for development: approx. €145 mn • Average yield on cost (on development): > 7% • New GLA approx. 71,500 smq 2) Assumptions on the assets fair values No change in fair value in the
Slide 48: Investments Pipeline
48 Investments Pipeline 2016 2017 2018 Total development Tot. ~ €81 mn ~ €26 mn ~ €38 mn projects ~ €145 mn Total Capex ~ €8 mn Tot. ~€24 mn ~ €18 mn and other ~ €50 mn TOT. INVESTIMENTS ~€195 MN MAREMA’ - Grosseto OPENED on 27 th of October ~ €47 mn total ESP – Ravenna Extension 1H 2017 Officine
Slide 49: Financial area: BP Targets (1/3)
49 Financial area: BP Targets (1/3) Main assumptions • Issue of unsecured senior bond 5-7 years in 2016 with an expected cost lower than the current Group’s cost of debt. • Option execise for CMBS early repayment (€135mn, cost approx. 5.2%) Targets confirmed with respect to the previous plan • Maint
Slide 50: Financial area: Results achieved (2/3)
50 Financial area: Results achieved (2/3) • Rating Baa(3) Stable Outlook assigned by Moody’s: entry into a small Group of Italian companies with Investment Grade rating* • First public issue of an unsecured senior Bond (€ 300 mn; 5 years) at the lowest cost of the Group’s history (coupon 2.50%) • Ex
Slide 51: Financial area: Results achieved (3/3)
51 Financial area: Results achieved (3/3) Rating Improved access to debt capital at more Agency Moody’s Investors Service favourable conditions Rating Baa3 Certified the debt quality and the Outlook Stable financial risk of the Group Placement by geographical area 1% 2% 6% Bond issue 2% Italy Ty
Slide 52: FFO evolution and Dividend policy
52 FFO evolution and Dividend policy CAGR 2015 - 18 + 18.3 % Funds from 75 operations evolution (FFO - € mn) 45 2015 2016 2017 2018 As for dividends, policy, already communicated to the market, of the distribution of about 2/3 of the core business FFO, is confirmed Dividend Reinvestment Option (DRO)
Slide 53: Final remarks
53 Final remarks The updated Business Plan, that has a low execution risk, confirms IGD’s ability to increase FFOs and strenghten visibility of the dividends that will be distributed. Following Punta di Ferro acquisition, not foreseen in the previous Plan, FFO target has been further improved. There
Slide 54: Appendix
Centro Borgo - Bologna Appendix
Slide 55: Pipeline in progress: ESP extension
55 Pipeline in progress ESP Shopping Center extension (Ra) The project calls for an increase in the mall’s GLA of 19,000 m² and the creation of 1,100 parking places. End of work: 1H 2017 Total expected investment: approx. €53 mn
Slide 56: Pipeline in progress: Officine Storiche, Livorno
56 Pipeline in progress Opening of the Mall Officine Storiche - Livorno Requalification of the industrial warehouses of the former Cantieri Navali Orlando inside of which vast reception facilities and accommodations will be created housing personal services (fitness centers, leisure time activities,
Slide 57: Pipeline in progress: Gran Rondò and Porto Grande
57 Pipeline in progress Gran rondo’ - Extension and restyling The project calls for an extension with the creation of a new medium surface area, with a total GLA of around 2,850 sqm and the complete restyling of the shopping mall. End of work: 1H 2018 Total expected investment: approx €7 mn Porto Gr
Slide 58: Pipeline in progress: Porta a Mare project
58 Pipeline in progress PORTA A MARE PROJECT - LIVORNO The purpose of the project is to transform an area of the port of Livorno, near the city center, with the construction of a multi-purpose complex of about 70,000 m² which will house shops, residential units, services, accommodations and leisure
Slide 59: Consolidated income statement
59 Consolidated income statement as at 30/09/2016 CONSOLIDATED CORE BUSINESS PORTA A MARE PROJECT €/000 30/09/2015 30/09/2016 D% 30/09/2015 30/09/2016 D% 30/09/2015 30/09/2016 D% Reveneus from freehold real estate and rental activities 81,038 88,272 8.9% 81,038 88,272 8.9% 0 0 n.a. Revenues from lea
Slide 60: Margin from activities
Margin from activities 60 as at 30/09/2016 CONSOLIDATED CORE BUSINESS PORTA A MARE PROJECT €/000 30/09/2015 30/09/2016 % 30/09/2015 30/09/2016 % 30/09/2015 30/09/2016 % Margin from freehold properties 69,338 76,309 10.1% 69,338 76,309 10.1% 0 0 n.a. Margin from leasehold properties 1,481 1,518 2.5%
Slide 61: Total consolidated Ebitda: €70.0 mn as at 30/09/2016
Total consolidated Ebitda: €70.0 mn as at 30/09/2016 61 Ebitda (core business): €70.5 mn (+10.7%) TOTAL EBITDA (€ 000) 75,000 70,000 88 338 152 -14 7,239 65,000 60,000 69,999 63,176 55,000 50,000 Ebitda cons 9M 2015 Change in rental revenues Change in service revenues Change in direct costs Change i
Slide 62: Contracts in Italy and Romania as at 30/09/2016
62 Contracts in Italy and Romania as at 30/09/2016 EXPIRY DATE OF HYPERMARKET AND MALLS EXPIRY DARE OF HYPERMARKETS AND MALLS CONTRACTS ITALY: (% no. of contracts) CONTRACTS ITALY: (% of value) N 23 95% 100% 89.1% 85% N 831 92.0% 90% Average 75% 80% 72.8% residual 65% 71.7% 70% maturity 55% 60% Hype
Slide 63: Net Debt as at 30/09/2016
63 Net Debt as at 30/09/2016 NET DEBT EVOLUTION (€ 000) -37.155 25,225 4,864 -4.300 6,608 1,009,485 1,004,727 Net Debt as at 30/06/2016 Profit for the period Change in NWC Change in non-current Change in fixed/non-fixed Change in shareholders' Net Debt as at 30/09/2016 attributable to the Parent ass
Slide 64: Reclassified balance sheet as at 30/09/2016
64 Reclassified balance sheet as at 30/09/2016 Sources - Use of funds 30/06/2016 30/09/2016 D D% Real estate investments 1,973,998 1,973,998 0 0.0% Assets under construction 59,179 65,970 6,791 11.5% Other non-current assets 30,483 25,779 -4,704 -15.4% Other non-current liabilities -31,446 -31,772 -
Slide 65: A successful story of growth fueled by strong capital market access
65 …translated into a sucessful story of growth fueled by strong capital market access… 2014-2015 2009-2010 • New growth phase: capital increase of €200 MM and portfolio acquisition; restyling, extensions (Centro d’Abruzzo) Key Milestones: • 6 new and new openings (Chioggia, Piazza Mazzini) investme
Slide 66: Delivering strong results and maintaining financial discipline
…delivering strong results and maintaining financial 66 discipline… CORE BUSINESS REVENUES (€ MM) CORE BUSINESS FFO (€ MM) NET DEBT (€ MM) INTEREST COVER RATIO (x)
Slide 67: Benefits from strong gearing in regions with GDP per capita above European average
…benefits from strong gearing in regions with GDP per capita 67 above European average 92% of IGD portfolio value located in Italy, with strong gearing on the wealthy Northern regions, benefitting of GDP per capita well above EU average GDP per capita(1) 92% of portfolio located in Italy… (EU 28 = 1
Slide 68: Investor-like lease agreements with sound residual WALT
68 Investor-like lease agreements with sound residual WALT Italy N. of lease contracts: 1,131 EXPIRY DATE OF HYPERMARKETS AND MALLS CONTRACTS ITALY (% of rent value) – as at 31/12/2015 Average Maturity Hypermarkets: 7.8 years Malls: 4.1 years • In 2015, 151 contracts were signed of which 71 were tur
Slide 69: WORLD (1/2)
69 WORLD (1/2) 7 LEGAL ENTITIES THROUGHOUT ITALY Emilia Romagna, Lombardia, Trentino, Veneto, Friuli Venezia Giulia, Marche, Abruzzo, Puglia, Basilicata Toscana, Lazio, Umbria, Campania Lombardia, Sicilia Piemonte Liguria, Piemonte Toscana Toscana, Umbria, Abruzzo Regions covered by Coop From 1st Ja
Slide 70: WORLD (2/2)
70 WORLD (2/2) Data as at 31/12/2015(1) Market share in Italy: 18.7% Turnover : ~ 12,5 bn € N° of points of sale: ~ 1,200 Employees: ~ 54,000 Members: ~ 8.5 million COOP PRODUCTS AND SERVICES Goods with Coop brand: Market share > 26% (stable vs 2014) Coop Salute: 122 points of sale Coop Voce: 1.4 mi
Slide 71: From January 2016 Coop Alleanza 3.0
71 From 1 January 2016 COOP ALLEANZA 3.0 Data as at 31/12/2015(1) By merging of Coop Adriatica, Coop Estense and Coop Consumatori Nordest Revenues : ~ 4,4 bn € N° of points of sale: ~430 (of which 64 hypermarkets) Employees: ~ 22,000 Members: ~ 2.7 million Deposits from members: ~ 4.5 € billion STRA
Slide 72: Unicoop Tirreno
72 Unicoop Tirreno Data as at 31/12/2015(1) Revenues: ~ 1 bn € N° of points of sale: 112 Employees: ~ 4,225 Members: ~ 990,000 Deposits from members: ~ 1.1 bn € STRATEGIC INVESTMENTS IN LISTED COMPANIES UNIPOL GRUPPO FINANZIARIO (Insurance and banking) IGD SIIQ SPA (1) Source: Unicoop Tirreno Financ
Slide 73: www.gruppoigd.it
www.gruppoigd.it Claudia Contarini, IR T. +39. 051 509213 claudia.contarini@gruppoigd.it Federica Pivetti T. +39. 051 509242 federica.pivetti@gruppoigd.it
Immobiliare Grande Distribuzione SIIQ S.p.A. (IGD) — Non-Deal Roadshow (November 2016) on 6ix