Q4 23 ended with higher FFO and no dividend
IGD reported a set of operational numbers primarily in line. Net rental income increased c3% in Q4 with stable occupancy in Italy (95.3%) despite footfall and tenant sales slowing in Q4. Recurrent EBITDA was flat, and lower financial charges translated into a better-than-expected FY FFO (c5% ahead of guidance). At the bottom-line level, a c2% LfL portfolio decline in H2 translated to a EUR43 loss in Q4. LTV closed at 48.1% vs 47.2% in Q3. In light of ....
27 Feb 2024
Deleveraging overshadowed by lack of distribution
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Deleveraging overshadowed by lack of distribution
- Published:
27 Feb 2024 -
Author:
Grimaldi Giuseppe GG -
Pages:
8
Q4 23 ended with higher FFO and no dividend
IGD reported a set of operational numbers primarily in line. Net rental income increased c3% in Q4 with stable occupancy in Italy (95.3%) despite footfall and tenant sales slowing in Q4. Recurrent EBITDA was flat, and lower financial charges translated into a better-than-expected FY FFO (c5% ahead of guidance). At the bottom-line level, a c2% LfL portfolio decline in H2 translated to a EUR43 loss in Q4. LTV closed at 48.1% vs 47.2% in Q3. In light of ....