IGD ROADSHOW PRESENTATION PRESENTATION ��
LAIMER DISCLA This presentation does not constitute an offer or an invitation to subs This presentation does not constitute an offer or an invitation to subs ubscribe for or purchase any securities. ubscribe for or purchase any securities. The securities referred to herein have not been registered and will n ll not be registered in the United States under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or in Australia, Canada or Japan or or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful. The securities ies may not be offered or sold in the United States or to U.S. persons unless such securities are registered under the Securities Act, or an exemption f n from the registration requirements of the Securities Act is available. Copies of this presentation will not be made and may not be distributed or sen ent into the United States, Canada, Australia or Japan. This presentation contains forward-looking information and stateme ents about IGD SIIQ SPA and its Group. Forward-looking statements are statements that are not historical fa l facts. These statements include financial projections and estimates and th their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and service ices, and statements regarding plans, performance. Although the management of IGD SIIQ SPA believes that the expec ectations reflected in such forward-looking statements are reasonable, investors and holders of IGD SIIQ are cautioned that forward-lookin ing information and statements are subject to various risk and uncertainties, many of which are difficult to predict and generally beyond the contr ntrol of IGD SIIQ; that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the f e forward-looking statements. These risks and uncertainties include, but are not limited to, those c e contained in this presentation. Except as required by applicable law, IGD SIIQ does not undertake ke any obligation to update any forward-looking information or statements
3 Index INTRODUCTION TO THE IGD D GROUP 5 SUMMARY OF 3Q2014 RESU ULTS 21 CAPITAL INCREASE 50 BP 2014-2016:PIPELINE & DIS DISPOSALS 56 Road-show presentation
INTRODUCTION TO THE IGD GROUP THE IGD GROUP
IGD is one of the main player in t n the Italian real estate sector of the large 5 organized distribution : develops a s and manages shopping centers across the country and has a significant pre presence in retail distribution in Romania Presence throughout the territory, c , capital strength, processing power, control and management of all phases of of the centers life cycle : these, in summary, are the ke key strengths IGD 100% 48.75% 50% 100% 100% Virtus RGD Ferrara Millenium College s.r.l. 2013 s.r.l. Gallery IGD Property SIINQ S.p.A. IGD IGD Management s.r.l. 100% (*) 80% 15% WinMagazine Iniziative Bologna Nord s.r.l (in liquidazione) 100% WinManagement (*) 0.1% stake held directly by IGD SIIQ S.p.A. Road-show presentation
6 Our business model A car areful merchandising mix, marketing activity adapted to each DIRECT MANAGEMENT conte ntext and various customer related services but, especially in this e s economic environment, careful attention paid to tenants’ OF THE SHOPPING CENTRES needs needs eds eds MEDIUM SIZED AND EASILY In line line with the geographical structure of Italy which is REACHABLE SHOPPING chara aracterized by a lot of MEDIUM SIZED provinces CENTERS Prese sence from North to South in 11 of the most densely PRESENCE IN THE WHOLE popu pulated regions out of 20 OF ITALY OF ITALY In thi this moment of economic downturn LOCATION is rewarding SHOPPING CENTERS WITH The p e presence of COOP which is completely integrated in the territo ritory guarantees a high and steady level of footfalls FOOD ANCHORS Road-show presentation
7 Property portfolio breakdow eakdown as at 30/06/2014 ITALIAN PORTFOLIO BREAKDOWN PORTFOLIO BREAKDOWN BY TYPE OF ASSET BY GEOGRAPHIC AREA (based on market value) (based on market value) 1.5% North East Hypermarkets/ supermarkets 4.6% 37.1% 9.4% North West 0.4% Shopping malls Centre Centre 4.0% 4.0% 28.5% 28.5% Lands 14.8% South+Islands Other €1,676.1M €1,849.5M Trading Winmarkt 22.3% City center 25.8% 51.7% BREAKDOWN OF OF PORTFOLIO APPRAISER (based o sed on market value) As at 30 June 2014 IGD Group's real estate portfolio had CBRE 18% been appraised by 3 independent experts: CBRE, REAG REAG and Cushman & Wakefield 43% Cushman & Wakefield €1,849.5M ROTATED ASSET AS AT 30/06/2014: 61% 39% (vs. 30/06/2013) Road-show presentation
8 Italian Portfolio as at 30/ 30/06/2014 Trentino Alto 50 REAL ESTATE ASSETS LOCATED IN Adige 11 ITALIAN REGIONS: Veneto Lombardy 18 shopping malls Piedmont 19 hypermarkets and supermarkets 19 hypermarkets and supermarkets Emilia Emilia Romagna 1 city center 4 plots of lands for development Marche Tuscany 1 property held for trading 7 other Abruzzo Lazio Market value in Italy : €1,676.1M Campania Yield Shopping Centers: 6.59% Yield Hypermkts: 6.65% Yield Hypermkts: 6.65% Occupancy Shopping Center: 94.7% Sicily Occupancy Hypermarkets: 100% Average Occupancy: 96.6% Regions with IGD presence Road-show presentation
Italian Portfolio: hypermark arkets and shopping malls 9 (as at 30/06/2014) 18 SHOPPING MA MALLS 19 HYPERMARKETS FOOD ANCHOR CENTRO D'ABRUZZO -Pescara CENTRO D'ABRUZZO -Pescara Coop Adriatica PORTO GRANDE - Porto d'Ascoli (AP) AP) PORTO GRANDE - Porto d'Ascoli (AP) Coop Adriatica ESP - Ravenna ESP - Ravenna Coop Adriatica CENTRO BORGO - Bologna CENTRO BORGO -Bologna Coop Adriatica FULL OWNERSHIP OF FULL OWNERSHIP OF CONE' RETAIL PARK - Conegliano (TV) (TV) CONE' RETAIL PARK - Conegliano (TV) Coop Adriatica 11 SHOPPING CENTRES LE MAIOLICHE – Faenza (RA) LE MAIOLICHE - Faenza Coop Adriatica (MALL + HYPERMARKET) KATANE' - Catania KATANE' - Catania Ipercoop Sicilia TORRE INGASTONE - Palermo TORRE INGASTONE - Palermo Ipercoop Sicilia CASILINO - Roma CASILINO -Roma Unicoop Tirreno LE PORTE DI NAPOLI - Afragola (NA) LE PORTE DI NAPOLI -Afragola (NA) Ipercoop Tirreno TIBURTINO - Guidonia (RM) TIBURTINO -Guidonia (RM) Unicoop Tirreno MILLENNIUM GALLERY - Rovereto (TN (TN) CENTRO SARCA - Sesto S. Giovanni (M i (MI) MONDOVICINO RETAIL PARK - Mondo ndovì (CN) 7 SHOPPING MALLS Hypermarkets not owned by IGD LUNGO SAVIO - Cesena (FC) GRAN RONDO’ - Crema (CR) I BRICCHI - Isola d'Asti (AT) I BRICCHI - Isola d'Asti (AT) DARSENA CITY - Ferrara (50% owned b ed by Beni Stabili) Hypermkt Le Fonti del Corallo - Livorno Unicoop Tirreno Hypermkt LAME - Bologna Coop Adriatica Hypermkt LEONARDO - Imola (BO) Coop Adriatica Hypermkt LUGO - Lugo (RA) Coop Adriatica 8 HYPERMARKETS Malls not owned by IGD y IGD Hypermkt IL MAESTRALE - Senigallia (AN) Coop Adriatica Hypermkt MIRALFIORE - Pesaro Coop Adriatica Supermkt AQUILEJA - Ravenna Coop Adriatica Hypermkt I MALATESTA - Rimini Coop Adriatica Road-show presentation
10 Romanian Portfolio as at as at 30/06/2014 14 SHOPPING CENTERS + 1 OFFICE BUILDING IN 13 DIFFERENT ROMANIAN IN 13 DIFFERENT ROMANIAN MEDIUM SIZED CITIES Bistrita Piastra Neamt Turda Market value: €173.4M Vaslui Galati Yield Shopping Malls: 6.64% Ploiesti Buzau Tulcea Braila Valcea Occupancy Shopping Malls: 86.3% Slatina Alexandria Regions with IGD presence Road-show presentation
11 Main lease terms Italian Shopping Malls Italian ian Hypermarkets Romanian Shopping Malls Main lease terms: Main lease term rms: Main lease terms: Average maturity : Average matur turity : 6 to 18 years (+ 6 years) Average maturity: lease agreement: 6 years (+ 6 years) Rents indexatio ation: 75% of CPI 2 years for local tenants rental agreement: 5 years Maintenance: o 5 years for national tenants ordinary and extraordinary Rental income : a minimum guaranteed rent maintenance wo works charged to the tenant. 10 years for international tenants plus a percentage based on the occupier’s External mainte tenance of the properties sales (façade, etc.) pa payable by the landlord Rents indexation : Rents indexation : all the contracts are EUROLINKED lease agreement of the going concern: Hypermarkets a and supermarkets of IGD 100% of CPI Portfolio are lea leased as follow rental agreement: 75% of CPI (16% of 12 hypermar arkets and 1 supermarket to The rents are paid in EURO total contracts) Coop Adriatica atica 3 hypermarke rkets and 1 supermarket to Lease of temporary spaces Unicoop Tirre irreno Group IGD can benefit from a very diversified 2 hypermarke rket to Ipercoop Sicilia tenants base, with limited credit risk, thanks Coop Adriatica and Unicoop Tirreno are to a careful screening of potential new among the majo ajor cooperatives of Coop tenants first retailer in Italy Network, the first Road-show presentation
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