2021 Results presentation

GOOD OPERATING PERFORMANCES

• In the 7 months without restrictions (June – December), tenants’ sales largely in line with 2019, average ticket +24.4% and ca. 84% of footfalls recovered
• Net rent collection 2021: in Italy around 94%; in Romania around 96%
• Financial occupancy higher vs FY2020: Italy 95.2%, +124bps[1]; Romania 94.6%, +105bps

 

FINANCIAL INDICATORS SHOW SIGNIFICANT GROWTH

• Net rental income: €118.5 million (+8.2%); FFO: €64.7 million (+9.2%). Both include the net direct impact of Covid-19 for €7.2 million [2]

 

FINANCIAL STRUCTURE STRENGTHENED

• Loan to Value down to 44.8% (from 49.9% in 2020)
• Valuations stabilized: market value of the freehold portfolio: €2,140.5 million (Like-for-Like: +0.64% vs 2020)
• EPRA NAV and NRV come to €10.85 p.s. (+4.5%)

 

ESG FACTORS INTEGRAL PART OF THE CORE BUSINESS

• 12^TH edition of the Corporate Sustainability Report approved
• Impact reporting on scope 1, 2, and 3 in preparation for Science Based Targets

 

STRONG INCREASE IN PROFITABILITY

• Dividend of €0.35 euro cents per share proposed for a dividend yield of 8,6%[3]
• Outlook FFO 2022: +9/10%

 

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