(Finance) – IGD SIIQone of the main players in Italy in the retail real estate sector and a company listed on Euronext STAR Milan, has registered gross rental income equal to 145.1 million euros in 2021, a slight decrease of 0.4%. L’EBITDA from core business is equal to 107.3 million euro, an increase of 7.9% and with a margin of 70.8%. L’recurring net profit (FFO) amounted to 64.7 million euros, an increase of 9.2% compared to 31 December 2020. Due, in particular, to the lower changes in fair value, the group closed with a Net income equal to 52.8 million euros (-74.3 million euros the loss in 2020).
“The 2021 financial year closes with particularly satisfactory growth results and gives us various certainties and elements of confidence from which the path of the new 2022 – 2024 Industrial Plan will start – commented theCEO Claudio Albertini – First of all, the concreteness of the operational performance of our assets, which they have seen operator sales in Italian malls in line with 2019 in the period of easing of restrictionsan occupancy rate of over 95% and IGD’s net sales of approximately 94% “.
“The capital structure of the group, thanks to the completed asset management operations and the stabilization of real estate values, is back in line with the targets we had set, in particular on Loan to Value; this, together with the significant increase in profit recurring, even beyond our guidance, allows us to tadorn to offer our shareholders an attractive and sustainable dividend“, he added. The board of directors proposed to the meeting a unitary dividend per share of 0.35 euros (with a total distributed amount of 38.6 million euros or 59.7% of the FFO).
In consideration of the positive signals coming from commercial and operational performances and assuming that during the year there are no direct impacts from Covid-19 on financial indicators, IGD SIIQ estimates a growth of the FFO for the whole of 2022 in a range between + 9% and + 10%.