Italy's IGD Reports FY Net Rental Income of EUR 113.7 Mln

Immobiliare Grande Distribuzione SIIQ SpA reported FY net rental income of EUR 113.7 million, with EBIT at EUR 66.5 million and a group net loss of EUR 30.1 million. The company returns to dividend, proposing a dividend of EUR 0.10 per share.

Immobiliare Grande Distribuzione SIIQ SpA (IGD), the leading Italian group in the retail real estate sector, has announced its financial results for the fiscal year ended December 31, 2022. The company reported a net rental income of €113.7 million, an increase of 5.3% compared to the previous year. EBIT came in at €66.5 million, while the group reported a net loss of €30.1 million.

Despite the net loss, IGD returned to dividend payments, proposing a payout of €0.10 per share. The company's strong financial performance and strategic management of its properties have enabled it to maintain high value over time.

According to its latest annual report, IGD's portfolio was valued at €2.14 billion as of June 30, 2022, representing a significant increase from the €1.58 billion reported in 2012. The company's long-term strategic perspective and commitment to sustainability have contributed to its success.

IGD owns and manages properties in Italy and Romania, where it operates in the shopping centre segment. The company was listed on the Euronext STAR Milan segment of Borsa Italiana in 2005 and has been constantly evolving to meet the interests of Italian and foreign investors.

The retail real estate sector in Italy is of primary interest to investors, given its potential for growth and the increasing demand for retail spaces. IGD's strong financial performance and commitment to sustainability make it an attractive investment opportunity.

[1]. Immobiliare Grande Distribuzione SiiQ S.p.A. (IGD) Annual Report & Investor Relations Data. Retrieved from https://financialreports.eu/companies/igd-siiq/