Thanks to the increase of 9.2% in rental income, which also benefited from the expanded perimeter, and the policy to maintain control of direct costs and general expenses, IGD\u2019s results for 2018 show a core business EBITDA that rose 12.4% to \u20ac113.7 million, with an EBITDA margin of 71.9%, an increase of an impressive 220 basis points compared to 2017.<\/p>\n
The improved operating performance is also reflected in the FFO which reached a record level of \u20ac79.7 million in 2018, an increase of 21.4% with respect to 2017 and above the 20% forecast in August.<\/p>\n
In terms of the financial profile, IGD\u2019s results are also convincing with the Loan-to-Value coming in at 45.8%, well below the maximum expected of 50%, and financial expense falling from \u20ac34.3 million in 2017 to \u20ac32.5 million in 2018.<\/p>\n
The net profit, however, fell from the \u20ac86.5 million recorded in 2017 to \u20ac46.4 million explained mainly by writedowns and fair value adjustments which in 2017 were positive for \u20ac23.9 million versus the negative \u20ac30.3 million recorded in 2018. The latter is, however, not a source of concern as the difference represents 1.3% of the overall value of IGD\u2019s real estate portfolio which at year-end 2018 had a fair value of \u20ac2,412.15 million thanks also to inclusion of the four malls and the retail park acquired in April for \u20ac195.5 million.<\/p>\n
<\/p>\n
| Core business EBITDA \n<\/strong><\/td>\n \u00a0\u20ac 113.7 mn<\/td>\n | +12.4%<\/td>\n<\/tr>\n | Core business EBITDA margin | \n<\/strong><\/td>\n \u00a071.9%<\/td>\n | +220 bps<\/td>\n<\/tr>\n | Group net profit<\/strong><\/td>\n | \u00a0\u20ac 46.4 mn<\/td>\n | -46.3%<\/td>\n<\/tr>\n | Funds From Operations (FFO)<\/strong><\/td>\n | \u00a0\u20ac 79.7 mn<\/td>\n | +21.4%<\/td>\n<\/tr>\n | Loan-to-Value<\/strong><\/td>\n | \u00a045.8%<\/td>\n | < max. level of 50%<\/td>\n<\/tr>\n | Core business revenues<\/strong><\/th>\n | \u20ac 151.8 mn<\/th>\n | +9.2%<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":" | With the 2018 results, IGD delivers on all the targets in the 2016-2018 plan Thanks to the increase of 9.2% in rental income, which also benefited from the expanded perimeter, and the policy to maintain control of direct costs and general expenses, IGD\u2019s results for 2018 show a core business EBITDA that rose 12.4% to […]<\/p>\n","protected":false},"author":8,"featured_media":22476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[212],"tags":[221,222],"class_list":["post-22489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-igds-results","tag-business-en","tag-risultati-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/22489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/comments?post=22489"}],"version-history":[{"count":1,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/22489\/revisions"}],"predecessor-version":[{"id":22490,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/22489\/revisions\/22490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/media\/22476"}],"wp:attachment":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/media?parent=22489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/categories?post=22489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/tags?post=22489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |