Immobiliare Grande Distribuzione SIIQ (IGD) investor relations material

Executive summary

• Q1 2026 results showed consistent improvements, with net rental income from freehold assets up 2.4% year-over-year to €25.2 million and FFO rising 14.7% to €11.7 million.

• Group net profit increased to €5.7 million from €1.6 million in Q1 2025.

• Asset disposals in Romania and Italy progressed, with eight assets sold for €32.5 million and further disposals planned.

• Tenant sales in Italian malls rose 4.7% and footfall increased 5.1%, outperforming national benchmarks.

• Dividend of €0.15 per share for 2025 was approved and paid in May 2026, a 50% increase over 2024.

Financial highlights

• Consolidated net rental income from freehold assets was €25.2 million, up 2.4% like-for-like year-over-year.

• Core business EBITDA was €24.3 million, with a margin of 71.3%, and remained stable year-over-year.

• FFO increased by 14.7% to €11.7 million.

• Group net profit rose to €5.7 million, up €4.1 million year-over-year.

• Loan-to-value ratio at 43.3%, down 20bps from year-end 2025.

Outlook and guidance

• FFO guidance for 2026 confirmed at a minimum of €45 million, with a conservative approach due to market volatility and geopolitical risks.

• Targeted asset disposals for 2026 set at an additional €30 million.

• Management maintains confidence in further improving results, supported by strong Q1 performance.