Immobiliare Grande Distribuzione SiiQ SpA (OTCPK:IMMQF)

Q2 2025 Immobiliare Grande Distribuzione SIIQ SpA Earnings Call Transcript

Aug 5, 2025 / 12:30 PM GMT

Release Date Price: $3.46

Transcript

Key Points

Positve

Immobiliare Grande Distribuzione SiiQ SpA (FRA:IF81) reported a significant increase in net profit, reaching 10.6 million, compared to a loss of 32.5 million in the first half of 2024.
The company experienced a growth in net rental income on a like-for-like basis of 2.9%, with tenant sales up by 1% and footfalls for Italian malls increasing by 3.9%.
The refinancing strategy has been successful, with a 615 million secured loan used to repay existing bonds, reducing the cost of debt from over 6% to 5.3%.
The company has successfully disposed of assets in Romania, with three assets sold, contributing to a decline in net financial position despite ongoing CapEx.
Immobiliare Grande Distribuzione SiiQ SpA (FRA:IF81) has launched successful digital initiatives, including loyalty apps and the IGD connect platform, enhancing customer engagement and tenant relationships.

Negative

The occupancy rate, although improved, is still slightly below the target, standing at 95.99% compared to the 98% guideline.
The company faces challenges in obtaining permits and authorizations for projects in Livorno, which could delay the disposal of plots planned for 2026.
Despite improvements, the cost of debt remains a concern, with efforts ongoing to find favorable conditions for further reductions.
The Romanian asset disposals, while progressing, involve complex negotiations with private investors, which can be time-consuming.
The market environment remains uncertain, with volatility affecting the timing of potential bond issuances and refinancing opportunities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IGD.MI - Immobiliare Grande Distribuzione SIIQ SpA
Q2 2025 Immobiliare Grande Distribuzione SIIQ SpA Earnings Call
Aug 05, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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This is a course call operator. Welcome to the conference call presenting IGD's H12025 results.

Let me remind you that all participants are in listen-only mode.

After the presentation.

A Q&A session will follow to be assisted by an operator during the conference call. Please press star and 0 on your phone handset. Let me now turn the conference over to Mr. Roberto Zoya, CEO and general manager of IGD. Mr. Zoya, you have the floor. Please go ahead.

Good afternoon to all of you.

Thank you very much.

I am sure you received or downloaded the presentation summarizing this first half of the year.

And the results were approved

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