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Immobiliare Grande Distribuzione SIIQ (IGD) investor relations material
Immobiliare Grande Distribuzione SIIQ Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
2025 marked a significant turnaround, returning to profitability with net profit of €32 million after a €30 million loss in 2024, and a proposed dividend of €0.15 per share, up 50% from the previous year.
Core business performance was strong, supported by robust KPIs, new leasing activity, and digitalization initiatives that enhanced tenant engagement.
Five Romanian assets were sold for approximately €22 million as part of portfolio optimization, with further disposals planned.
Asset acquisitions in Italy and a focus on debt reduction and maturity extension contributed to financial stability.
Financial highlights
Net rental income rose 4% like-for-like year-over-year, with consolidated margin on revenues at 85.4%.
Core business EBITDA increased by 3% like-for-like, with a margin of 71.3%.
Funds from operations (FFO) reached €41.2 million, up 15.7% year-over-year and exceeding guidance.
Tenant sales in Italian malls grew 1.6%, hypermarket sales up 0.8%, and footfall increased 3.5% year-over-year.
Portfolio value grew by 1.8% at constant rates, driven by operational cash flow.
Outlook and guidance
FFO guidance for 2026 is set at least €45 million, implying a 9.2% increase over 2025.
Organic growth, further asset disposals (especially in Romania), and continued operational improvements are expected to support future results.
Targeting 98% occupancy by 2027, with current occupancy above 96%.
LTV goal of 40% by 2027, with current LTV at 43.5%.
Next Immobiliare Grande Distribuzione SIIQ earnings date
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