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    REIT - Diversified
Immobiliare Grande Distribuzione SIIQ S.p.A.

Immobiliare Grande Distribuzione SIIQ S.p.A.

IGD.MI
Immobiliare Grande Distribuzione SIIQ S.p.A.IT flagItalian Stock Exchange
4.34
EUR
-0.04
- -
478.33MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.55
2.55
1.51
1.52
1.77
1.54
1.42
1.32
1.32
1.31
1.35
1.24
1.19
1.19
Basic EPS, GAAP
0.1
0.16
0.56
0.78
1.06
0.46
0.11
-0.67
0.48
-0.2
-0.74
-0.27
0.29
0.33
Free Cash Flow per Basic Share
0.38
-2.09
0.36
-0.37
0.56
0.6
0.48
0.35
0.54
0.46
0.49
0.25
0.22
0.25
Dividend per Share
0.47
0.49
0.35
0.37
0.45
0.55
0.5
0.23
- -
0.35
0.3
- -
0.1
- -
Book Value per Share
7.5
12.44
8.07
7.79
8.62
8.02
6.95
5.29
6.38
5.84
4.96
5.35
5.87
5.92
Tangible Book Value per Share
15.76
20.66
12.5
12.08
13.57
12.26
10.9
10
10.55
10.1
9
8.74
8.93
9.03
Basic Weighted Avg Shares
48
46
82
87
81
101
110
111
110
110
110
110
110
110
Sales/Revenue/Turnover
122
117
123
133
144
156
156
146
146
145
149
137
131
132
Operating Margin (%)
55.25
55.68
57.18
60.91
64.09
67.7
75.37
76.61
76.03
68.42
73.22
73.79
70.28
70.84
Depreciation Expense
4
3
3
2
1
1
1
1
1
1
1
1
2
1
Net Income, GAAP
5
7
46
68
86
46
13
-74
53
-22
-82
-30
32
36
Effective Tax Rate (%)
- -
24.74
- -
4.35
2.57
4.68
7.43
- -
5.38
- -
- -
- -
0.87
0.38
Profit Margin (%)
4.11
6.24
36.98
51.26
60.02
29.7
8.09
-50.81
36.26
-15.41
-55
-21.95
24.38
27.44
Working Capital
-197
2
-169
-106
-66
-198
88
10
-9
-59
-27
-52
-36
6
LT Debt
817
850
765
893
966
884
1,233
1,136
951
905
937
742
753
301
Total Equity
764
961
1,032
1,069
1,116
1,252
1,211
1,114
1,172
1,122
1,001
970
993
1,002
Return on Invested Capital (%)
- -
2.62
- -
3.74
4.2
4.46
4.48
- -
4.49
- -
- -
- -
5.14
7.93
Return on Capital (%)
- -
2.16
- -
5.77
6.38
3.86
2.05
- -
4.3
- -
- -
- -
6.33
10.1
Return on Common Equity (%)
1.41
1.57
7.43
10.2
12.51
6.14
1.6
-11.01
8.18
-3.31
-13.72
-5.29
5.17
5.8

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
32
46
22
LT Borrowings
- -
753
300
LT Finance Leases
3
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
110
110
110
Market Capitalization
381
383
437

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
37
41
55
Cash, Cash Equivalents & STI
3
9
11
Accounts Receivable, Net
9
8
10
Inventories
20
20
19
Total Current Liabilities
69
77
50
Payables & Accruals
- -
- -
- -
ST Debt
32
46
22
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.17%
-2.13%
2.3%
Free Cash Flow
-47.74%
-3.49%
-12.02%
Net Income, GAAP
-104.98%
-63.32%
-206.38%
Sales/Revenue/Turnover
0.77%
-2.07%
-4.19%
Total Cash Common Dividend
- -
- -
-66.67%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
36
33
32
36
137
2025
33
33
33
33
131
2026
33
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
- -
- -
- -
-0.27
2025
0.01
- -
0.06
- -
0.29
2026
0.05
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
0.1
- -
- -
- -
0.1
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Roberto Zoia
Full Time Employees
139
Sector
Real Estate
Industry
REIT - Diversified
Address
Via Trattati Comunitari Europei1957-2007 Bologna BO Italy 40127
IPO Date
Feb 11, 2005
Website
gruppoigd.it
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Business
Immobiliare Grande Distribuzione SIIQ S.p.A. (IGD) is an Italian real estate company primarily engaged in the development, management, and leasing of retail properties, including shopping centers, hypermarkets, supermarkets, and retail parks. The company operates a diversified portfolio consisting of approximately 25 shopping malls and retail parks, 8 hypermarkets and supermarkets in Italy, and a portfolio of shopping centers across 13 cities in Romania. IGD also provides a range of real estate-related services such as promotion of newly opened, expanded, or restructured centers; rotation of existing retail tenants; and facility management services including security, cleaning, and ordinary maintenance. Founded in 2004 and headquartered in Bologna, Italy, IGD was the first SIIQ (Società di Investimento Immobiliare Quotata), the Italian equivalent of a real estate investment trust. The company operates primarily in Italy and Romania, focusing on retail real estate assets serving institutional and retail clients. Its business model includes core real estate investment properties, asset management, and trading activities. Recent major changes include the signing of a 20-year Power Purchase Agreement with Edison Next in September 2025 to develop a large photovoltaic plant at the Tiburtino Shopping Center in Rome, underscoring IGD’s strategic commitment to sustainability and energy transition. In 2024, IGD completed the divestiture of non-core assets, including the sale of 8 hypermarkets, 3 supermarkets, and 2 shopping malls for approximately €258 million, as part of its 2025-2027 strategic business plan focused on portfolio optimization. The company continues to pursue asset disposals while enhancing operational efficiency and expanding its sustainability initiatives in retail real estate management. IGD’s portfolio had a market value around €1.7 billion at the end of 2024, reflecting its solid position in the retail real estate sector. These efforts highlight IGD's focus on sustainable energy solutions, portfolio rationalization, and strengthening its retail real estate presence in Italy and Romania. The company remains listed on the STAR segment of Borsa Italiana, targeting the retail real estate market with a comprehensive offering of real estate ownership, leasing, and services expertise across its geographic footprint.