Result presentation as at 30 September 2019
FFO: €9 million (+5.6%); Rental income: €0 million, +2.7% (LFL Italy flat, Romania +2.7%) Net rental income: €2 million, +10.7% (+2.5% adj. ex IFRS16[1]) Average cost of debt 2.4%; Loan to Value 47.8% [1]Adj ex IFRS16: for the sake of comparability, the 2019 figure was restated excluding the impact of IFRS 16 application.
Results presentation as at 30 June 2019
Recurring Net Results (FFO): €41.8 million (+7.6%); Rental income: €77.3 million, +4.4% (LFL Italy -0.6%, Romania +1.8%) Net rental income: €68.6 million, +13.0% (+4.6% adj. ex IFRS16[1]) Average cost of debt 2.4% Market value of the portfolio €2,388.3 million (-0.99%); Outlook revised for FFO FY2019: +4/5% [1] Adj ex IFRS16: for the sake of comparability, […]
Results presentation as at 31 March 2019
Net rental income: €2 million, +17.9% (+9.2% adj ex IFRS16[1]); FFO: €8 million (+13.4%) Malls LFL Italy flat, Romania + 2.4%; upside on renewals: Italy +4.1%; Romania +10.3% Loan-to-Value 46.2% ( 45% adj ex IFRS16); Interest cover ratio 3.9x (around 3.7x adj ex IFRS16) [1] Adj ex IFRS16: for the sake of comparability, the […]
Results presentation as at 31 December 2018
RESULTS AT 31 DECEMBER 2018: Recurring net income (FFO): €7 million (+21.4%); Rental income: €8 million, +9.2% (LFL Italy +1.3%, Romania +2.9%) Net rental income: €124 million, +10.9% Sales of retailers in Italian malls + 2.2%; financial occupancy Italy 97.2%; Romania 97.1% Further improvement in financial indicators: Loan to Value 45.8%; average cost of debt […]
2019-2021 Strategic Plan Presentation
The Plan is based on 3 pillars:
- Innovation and operating excellence, particularly in commercial activities, marketing and sustainability
- Asset Management focused on increasing the quality of the portfolio and strengthening the leadership positioning of assets. Strategic agreement signed with Coop Alleanza 3.0 which calls for a complete revision of the leases for 18 hypermarkets and the remodeling of 5 of them with a view to expanding the adjacent malls
- Strengthening of the financial structure through rigorous financial discipline and asset rotation (Loan-to-Value expected to drop further to less than 45% over the plan period )
Results presentation as at 30 September 2018
RESULTS AT 30 SEPTEMBER 2018:
- Strong growth trend in FFO confirmed: €5 million (+ 21.5%)
- Net rental income: €3 million, + 10.7% (malls LFL Italy + 1.6%, Romania + 3.8%)
- Sales of retailers in Italian malls + 2.1%; upside on lease renewals (Italy + 1.7%; Romania + 2.5%)
- Loan-to-Value 45.84%; Interest cover ratio 3.47x
