IGD’s Chief Executive Officer, Claudio Albertini, provides a strategic interpretation of the results achieved in a half still heavily impacted by the restrictions in place to prevent the spread of the virus. It’s clear that the shopping center format will continue to have a key role in the new consumption models. And that is not all: these results show also that the way in which IGD manages its portfolio is particularly effective.
The results in IGD’s income statement continue to be impacted heavily by the restrictions on operations imposed in order to contain the spread of the virus. The net one-off impact recognized as a result of the closures is, however, €1.5 million lower than the €9.3 million posted in the first half of 2020.
During a conversation which addressed several issues that are crucial to the recovery of shopping centers and, specifically, to IGD’s future, we recorded the reflections and considerations of Roberto Zoia, IGD SIIQ SPA’s Director of Asset Management, Development and Network Management and Chairman of CNCC, the Consiglio Nazionale dei Centri Commerciali, since October 2020.
More and more investors are looking at ESG ratings when deciding which stocks to buy or to finance debt, even though these ratings can vary considerably based on the criteria used by the different agencies. We took a closer look at these issues by asking Francesco Soldi, IGD’s Head of Marketing and Corporate Social Responsibility, a few questions.
In the last edition of IGD News&Views we presented the launch of the project Next Steps, focused on finding new solutions for shopping centers during the phase after the lifting of the pandemic restrictions. Our conversation with Daniele Cabuli, Chief Operating Officer, and Laura Poggi, Head of Leasing, therefore, continues. They will update us on the work they have done to manage the relationships with the retailers during this delicate exit phase and change the merchandise offered at IGD’s centers.
The stock markets remain positive, thanks to the prospects for economic recovery supported by the expansionary economic policies and the re-openings made possible by the vaccine rollouts. IGD’s stock, which is up almost 15% since the beginning of the year, has ample upside including based on the half-year results that were just published.