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WINMARKT: THE GENERAL SHAREHOLDERS MEETING APPROVES THE FINANCIAL STATEMENT AT 31 DECEMBER 2015 AND CONFIRMS THE MANDATES OF THE BOARD OF DIRECTORS MEMBERS
Bologna, April 7th, 2016. In the GSM of Winmarkt, the most widespread network of shopping centers in Romania, acquired in March 2008 by Immobiliare Grande Distribuzione (IGD), an Italian company listed on the Milan Stock Exchange, approved the financial statement at 31.12.2015 and renewed the entire BoD.
FINANCIAL STATEMENT
HIGLIGHTS (LOCAL GAAP)
- Gross Margin from letting: 8.7 mil euro (+4.5% vs 2014, +6.3% lfl)
- EBITDA: 5.9 mil euro (+4.0% vs 2014)
- Group Net Profit: 1.1 mil euro
- FFO: 5.4 mil euro (+5.9% vs 2014)
- Occupancy rate: 94.4% (+8.2bps vs 2014)
- Footfalls: 30.5 mil (+2.2% vs 2014)
“In 2015 we recorded satisfying results, both operational and economic. The expected performances growth has been confirmed starting from the first 2015 quarter and, combined with the positive macroeconomic and market trends (GDP +3.6%, consumption +5.0%), it allowed us to achieve important goals, confirming the goodness of our medium-term consolidation strategy”, Carlo Barban – Winmarkt’s Chief Executive Officer stated.
“Looking forward, considering the positive 2016 local market outlook (GDP +4% and consumption more than 6%) and the renewed interest shown by international and national retailers for Winmartk, I have good expectations for our portfolio’s growth and development”, Carlo Barban added.
OPERATING PERFORMANCES
The Winmarkt shopping centers performed well during the 2015: the occupancy rate increased from 86.1% to 94.4%, more than 8bps in 12 months, and the footfalls exceeded 30 million visitors.
“During 2015 we succeeded to identify retailers who completed a balanced merchandising mix, as we reached full occupancy in most of our shopping centers, being always focused on the local demand, city by city. For the upper floors we initiate the strategic decision to implement offices, Winmarkt Galati being the first shopping center where we rented 1,500 sqm for CGS compamy. Overall, 2015 was a good year for Winmarkt, in which we signed 181 new contracts and renewed other 285”, Marius Ionescu – Winmarkt’s Commercial Manager.
The investment activity moved forward with intensity also in 2015, completing projects for more than 4 mil euro, especially focused on inserting international brands, upgrading the tenant mix and the retail offer (the 5th H&M store in Winmarkt network, in Tulcea, and 6 new Pepco stores), and on refurbishing of the facade and of the perimetral area of the shopping center in Ploiesti.
MANDATES OF WINMARKT’S BOARD OF DIRECTORS MEMBERS
Coinciding with the formal end of the mandates, the GMS formally renewed the Board of Directors, as follows:
- Daniele Cabuli (IGD COO): Chairman of Win Magazin Board
- Carlo Barban: Win Magazin CEO and Winmarkt Management Managing Director
- Roberto Zoia (IGD Asset Management&Development Director): Win Magazin Director
About Winmarkt:
Acquired in 2008 by the Italian company IGD – Immobiliare Grande Distribuzione – Winmarkt is the most extensive network of shopping center in Romania. Winmarkt has in property 15 shopping centers and an office building, located in 13 cities: Alexandria, Bistrita, Braila, Cluj-Napoca, Galati, Piatra Neamt, Ploiesti, Ramnicu Valcea, Slatina, Tulcea, Turda si Vaslui.