Telecom Italia Portfolio Beni Stabili Investor Day
|
|
- Sheila Lloyd
- 8 years ago
- Views:
Transcription
1 Telecom Italia Portfolio Beni Stabili Investor Day Milan, June 6 th 2012
2 Core Office Portfolio / Beni Stabili Investor Day / Milan, June 6 th 2012 ALEXANDRE ASTIER Business Development & Telecom Italia Portfolio Since 2008 in Beni Stabili Siiq, at present Head of Business Development & Telecom Italia Portfolio Degree in Engineering from La Sapienza University in Rome MBA from London Business School Previous work experience: Head of Real Estate Corporate Finance at BNP Paribas Real Estate M&A at Lehman Brothers Fixed Income Sales and Trading at JP Morgan Rome, Corso Vittorio Emanuele 2
3 Telecom Italia portfolio: overview In December 2000 Beni Stabili acquired the portfolio of the first sale&lease back of Telecom Italia ( TI ) assets, worth approximately 2.9bn at the time Over 400 properties located in key economic regions and major cities throughout Italy Constituting the Italian telecom infrastructure network Leased back by TI over long term double net leases (21 years plus 6 years) Currently BS s TI portfolio accounts for 185 assets, worth 1.85bn (42% of the total portfolio) generating 120.5m of annual rents (54% of total portfolio) 3
4 Telecom Italia portfolio: our mission Maintain high levels of recurring cash flows from the portfolio Improve the partnership with TI providing full landlord support and maintaining an open dialogue Active asset management in order to re-balance the overall Group exposure to single tenant risk, preserving the real estate quality of the portfolio 4
5 Our activity: providing full landlord support to TI for all their needs in order to foster the partnership Vicenza, Palazzo Porto Breganze Milan, corso Monforte Mantova, via Corridoni 5
6 Telecom Italia Portfolio: a partnership with TI on the telecom infrastructure of the Italian country 0.8% Valle d Aosta 6.0% Piemonte 2.4% Liguria 0.3% Sardegna 22.9% Lombardia 2.8% Trentino Alto Adige 11.6% 5.3% Veneto Emilia Romagna 1.2% Friuli Venezia Giulia 4.3% 0.6% 0.7% Toscana Marche Umbria 16.9% 1.0% Abruzzo 0.2% Molise 1.1% 12.5% Lazio Puglia 1.5% Basilicata Campania Portfolio Stats: # assets: 185 Annual rent: 120.5m Market value: 1,851.1m GLA: 1,236,120sqm Yield: 6.5% Occupancy: 100% Value per sqm of GLA: 1,498 Tenant: Telecom Italia (Baa2, BBB, BBB) Range # assets IAS value ( m) Between 0m and 5m Between 5m and 10m Between 10m and 20m Between 20m and 50m Higher than 50m TOTAL 185 1, % Calabria 5.8% Figures as at 31/03/2012 (geographical breakdown based on IAS values) Sicilia 6
7 A balanced mix 100% 90% 80% 70% 60% South & islands South & islands Centre Centre Others Others Periphery & outskirts 50% 40% North Rome Inner ring 30% 20% North Milan Rome City centres 10% Milan 0% 7
8 14% of value located in Milan % on Telecom Italia portfolio: 14% Number of assets: 10 Total GLA: 121,939sqm Physical occupancy: 100% Average lease expiry: 9.8 years Asset location: 16% central Market value: 251.3m City centre Inner ring Periphery On a 1:2 km scale 8
9 15% of value located in Rome % on Telecom Italia portfolio: 15% Number of assets: 14 Total GLA: 135,024sqm Physical occupancy: 100% City centre Inner ring Periphery On a 1:2 km scale Average lease expiry: 9.8 years Asset location: 21% central Market value: 280.7m 9
10 Our activity: reduction of TI exposure through disposals Latina, via Monti Lepini Latina, via Duca del Mare Disposals by timeline ( m): more than 230m of disposals with an average exit cap rate of 5.5% FY 2008 FY 2009 FY Q Q Q Q Q Q 2012 Preliminaries in place
11 Benchmarking of telecom asset disposals in Italy ( ) Annual disposals (identified assets only) m Average exit yields 7% 6.7% % 5.8% 6.0% 5.5% % 4.9% 5.3% 5.5% % 4.5% Beni Stabili The market Beni Stabili The market (weighted) Source: fund data and BS estimates 11
12 Portfolio financing: overview Portfolio open market value (OMV): 1,851m Outstanding debt (as at 31-mar-2012): 686m Original debt (nov-2002): 1,168m Periphery The loan was securitised in nov-2002 with the emission of 12 different tranches of CMBS & of different Centre Others maturities and risk profiles as shown in the table below outskirts In the first half of 2009, Beni Stabili bought back just under 110m of ImSer notes capturing a significant discount due to the stressed market conditions of CMBS issues in the midst of the subprime crisis Inner ring North Rome Class of Notes Rating Fixed / Original Amount Completely Amount Outstanding Spread / Fixed Floating Outstanding ( m) reimbursed by 31-Mar-12 ( m) Rate A1a NR Floating Mar % A1b NR Floating Mar % Milan City A2a A Floating Sep % A2b AA- Floating Sep centers 0.36% A3a A Fixed Sep % A3b A Floating Mar % B1 BBB Fixed Sep % B2 BBB Floating Mar % B3 BBB Floating Mar % B4 BBB Floating Jun % B5 BBB Fixed Sep % C NR/NR/NR Fixed Sep % Total 1,
13 A success story Examples of asset management activities with value creation for BS (and for TI): Cortina Largo Poste: disposal price allowing a large capital gain, to an acquirer interested in a re-development into residential units Periphery & Centre Others outskirts Milano via Compagnoni: disposal of only a non-used portion of the asset for residential use and pro-rata reduction of rents for TI Schio via Veneto: asset not strategic for TI was sold to a final user. Following Inner the ring disposal TI vacated the property and stopped paying the rent Firenze piazza Costituzione: following the disposal the lease agreement was substituted with a shorter 6 years + 6 years lease more favourable to TI as the acquirer had medium term projects on the asset Cortina, largo Poste Milano, via Compagnoni Schio, via Veneto Firenze, piazza Costituzione 13
14 Why we have high confidence in the future Strengths Strategic Assets for TI (Italian Telecom Infrastructure) Strong covenant Long term double net lease Low value per sqm Strong relationship with TI Consolidated and skilled divesting team Weaknesses Operating in a fragmented real estate market with competing sellers Opportunities Strong relationship with the tenant Significant unexpressed real estate value Threats Evolving technology 14
5,000,000,000 Covered Bond Programme
Data as of 30 June 2015 5,000,000,000 Covered Bond Programme Please note being this report as of June 2015, 30 it does not include: - the V Series new issuance (Eur 750ml, IT0005120198), effective from
More informationDelegated to CNR on December 23rd, 1987. New synchronous registration system from September 28 th, 2009
The.it Registry: a short overview Delegated to CNR on December 23rd, 1987 More than 1,860,000 domain names New synchronous registration system from September 28 th, 2009 Coexistence of the two systems
More informationIntroduction. We will refer in particular to the list of issues : Part I - n 7 and n 12 Part III - n 1: (ii) points a, c, e.
Brief summary from SOS Children s Villages in response to the list of Issues concerning additional and updated information related to the third and fourth combined periodic report of ITALY from the UN
More informationTraineeships Regulation in Italy after the Fornero Labour Market Reform
Executive Summary Traineeships Regulation in Italy after the Fornero Labour Market Reform www.bollettinoadapt.it Internships in Italy have new rules since the 2012 Fornero labour market reform that changed
More informationDemographic indicators
February 19, 2016 Demographic indicators Estimates for the year 2015 In 2015 the resident population decreased by 2.3 per thousand inhabitants. The reduction corresponds to 139,000 units less, resulting
More informationFebruary 2013. Monitor of Bankruptcies, Insolvency Proceedings and Business Closures FourthQuarter 2012
February 213 Monitor of Bankruptcies, Insolvency Proceedings and Business Closures FourthQuarter 212 Total number of business closures breaks the 1k mark in 212 The most bankruptcies in over a decade Summary
More informationFiscal federalism in Italy at a glance
Fiscal federalism in Italy at a glance Distribution of fiscal revenues (2006) Local Governments 7% Distribution of public expenditure (2006) Local Governments 19% Regions 24% State 53% Source: Region of
More informationPRESENTATION ITALIAN PRISON SYSTEM. Italia, LPPS 11-14 November 2010
PRESENTATION ITALIAN PRISON SYSTEM Italia, LPPS 11-14 November 2010 The bodies ORGANIZATION CHART OF PRISON SYSTEM MINISTRY OF JUSTICE (1) DEPARTMENT OF PRISON SYSTEM ADMINISTRATION (1) REGIONAL DEPARTMENTS
More informationGruppo Intesa Network
Gruppo Intesa Network Branches in Italy broken down by Bank and by Region (Up-dated as at December 2000) Ambroveneto (1) Cariplo BCI Carime (2) FriulAdria Cariparma Other Group banks (3) Piemonte 37 85
More informationHOSPICE (AND PALLIATIVE CARE NETWORK) IN ITALY AN UNMPREDICTABLE GROWTH
HOSPICE (AND PALLIATIVE CARE NETWORK) IN ITALY AN UNMPREDICTABLE GROWTH Furio Zucco Past President Italian Society for Palliative Care Past President Italian Federation for Palliative Care Director of
More informationMUNICIPAL SOLID WASTE MANAGEMENT IN ITALY
MUNICIPAL SOLID WASTE MANAGEMENT IN ITALY L. Rigamonti DIIAR Environmental Section - Politecnico of Milan (Italy) (Sept.-Nov. 2006 Visiting Scholar WTERT, Columbia University; Advisor: Prof. N.J. Themelis)
More informationZadar,, October 24th 2013
Zadar,, October 24th 2013 Confederazione Italiana Campeggiatori promoting plein air tourism Italy 1932: The tourism is born outside thanks to the intuition of Luigi Bergera, co founder of the FICC (1932)
More informationASSOBIOMEDICA AND BIOMEDICAL START-UPS. Vera Codazzi, Ph.D.
ASSOBIOMEDICA AND BIOMEDICAL START-UPS Vera Codazzi, Ph.D. Startup Biomed FORUM Torino, 26-27 febbraio 2015 2 Towards innovation in the medical device sector NANO-TECHNOLOGIES CHEMISTRY ELECTRONICS MATERIALS
More informationRifiuti tra crescita e decrescita
Rifiuti tra crescita e decrescita Giacomo D Alisa Università di Roma, Sapienza Università Autonoma di Barcellona Rifiuti tra crescita e decrescita L insostenibilità della crescita Il metabolismo dei rifiuti
More informationBUSINESS ARCHITECTURE (BA) BA redesign
BUSINESS ARCHITECTURE (BA) BA redesign Deliverable structure Illustration of key sections Pavia Nov 2013 Structure of the KPI assignment for the case A day in Radiology The blocks represent the sections
More informationRetail Portfolio Beni Stabili Investor Day
Retail Portfolio Beni Stabili Investor Day Milan, June 6 th 2012 Retail Portfolio / Beni Stabili Investor Day / Milan, June 6th 2012 MASSIMO MORETTI Retail Portfolio Since 2008 in Beni Stabili Siiq, at
More informationOpening remarks Beni Stabili Investor Day
Opening remarks Beni Stabili Investor Day Milan, June 6 th 2012 ALDO MAZZOCCO CEO Since 2001 CEO of Beni Stabili Siiq Since 2011 Deputy General Manager (Directeur Général Délégué) of Foncière des Régions
More informationConsumer Behavior in Tourism Symposium 2013. ESTIMATING THE CARBON FOOTPRINT OF TOURISM IN SOUTH TYROL Mattia Cai
Consumer Behavior in Tourism Symposium 2013 ESTIMATING THE CARBON FOOTPRINT OF TOURISM IN SOUTH TYROL Mattia Cai Overview Aim: Quantify the greenhouse gas (GHG) emissions associated with tourism in South
More informationBest regards President of Italian Dance Sport Federation Christian Zamblera
To all IDO Members Rome, 08/04/2014 SUBJECT: INVITATION DANCE IT!!! WORLD CHAMPIONSHIP DISCO DANCE & DISCO FREESTYLE Dear IDO Friends, Welcome to DANCE IT!!! IDO World Championship Disco Dance & Disco
More informationNATI PER LEGGERE. Nati per leggere: A national programme to enhance literacy and health in small children through reading aloud
NATI PER LEGGERE Nati per leggere: A national programme to enhance literacy and health in small children through reading aloud Raising a Nation of Readers: IFLA Satellite Meeting Roma, 19 August 2009 Giovanna
More informationRegione Provincia Distretto Abruzzo Chieti DISTRETTO 009 Abruzzo Chieti DISTRETTO 010 Abruzzo Chieti DISTRETTO 011 Abruzzo Chieti DISTRETTO 015
Regione Provincia Distretto Abruzzo Chieti DISTRETTO 009 Abruzzo Chieti DISTRETTO 010 Abruzzo Chieti DISTRETTO 011 Abruzzo Chieti DISTRETTO 015 Chieti Conteggio 4 Abruzzo L'Aquila DISTRETTO 001 Abruzzo
More informationMariarosa Silvestro Letizia Cinganotto
ECEC & ELL Conference Reggio Emilia, 16-18 December 2014 Italian ECEC model Pre-school Spring Groups Mariarosa Silvestro Letizia Cinganotto The Italian school system: overview ECEC in Italy 0 3 years 3
More informationInvestment Opportunities in Italy's Conference Tourism sector
Inter-regional project Promoting the Italian Conference System Updates on the Italian Conference Tourism offering Barcelona EIBTM 29 th November/1 st December 25 FOREWORD The Italian conference tourism
More informationSustainability Abstract
Sustainability Abstract Sustainability Abstract Key corporate social responsibility indicators for Banca Etruria Banca Etruria has always operated with a socially responsible culture in the communities
More informationA Single Market for Lawyers Challenges and Solutions in Cross Border Insurance. Italian Experience
A Single Market for Lawyers Challenges and Solutions in Cross Border Insurance Italian Experience (speaker: Igor Corossi) Brussels, 28 October 2013 Italian Market Overview Being a Regulated Profession,
More informationBEST ONE - BEST ONE VOX SUBMERSIBLE ELECTRIC PUMPS. 60 Hz
BEST ONE - BEST ONE VOX 60 Hz BEST ONE (VOX) in AISI 304 Submersible electric pumps for clean water with hydraulics in AISI 304 stainless steel. APPLICATIONS Draining basements, garages, cellars or places
More informationHorizon2020 La partecipazione italiana allo Strumento PMI
Horizon22 La partecipazione italiana allo Strumento PMI Milano, 11 febbraio 215 Le PMI in H22 Excellent Science European Research Council Frontier research by the best individual teams Future and Emerging
More informationN S S T O R I E S s p r i n g s u m m e r
NS STORIES spring summer 2009 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Page 4-5 Ryan: Shot Vest 2539 - Cap 8317 Page 6 Ryan:
More informationJoint Heritage the dialogue of different cultures
Socrates Comenius SCHOOL DEVELOPMENT PROJECT 2005 2008 Joint Heritage the dialogue of different cultures www,websites WORLD HERITAGE SITES UNESCO Didactic material Resources for teachers and students Istituto
More informationCarige s project: history and results. The The 2005-2007 Business Plan Plan. The adoption of IAS and 1H 2005 results. Carige share performance -1-
Carige s project: history and results The The 2005-2007 Business Plan Plan The adoption of IAS and 1H 2005 results Carige share performance -1- Future evolution Independence through growth 1990-1998 1999-2003
More informationINDEX ITALIAN SUPPLIERS
INDEX ITALIAN SUPPLIERS ACAMPORA TRAVEL 1 ALLEGROITALIA HOTELS & RESORTS.. 3 AMANDATOUR. 5 ARENA DI VERONA OPERA FESTIVAL... 7 AVI TRAVEL.... 9 BETTOJA HOTELS... 11 CORTINA TURISMO. 13 EDEN INCOMING &
More informationData Envelopment Analysis (DEA) assessment of composite indicators. of infrastructure endowment.
RIVISTA DI STATISTICA UFFICIALE N. 1/2015 Data Envelopment Analysis (DEA) assessment of composite indicators of infrastructure endowment 1 Silvia Terzi, 1 Andrea Pierini 2 Abstract In Data Envelopment
More informationTable 1. Daily newspapers: national circulation (2012)
422 Annex Annex Table 1. Daily newspapers: national circulation (2012) Area Corriere della Sera north west 205,985,561 8.34 On sale La Repubblica centre 189,241,106 7.67 On sale La Gazzetta dello Sport
More informationBORGHI SRL Iniziative Sviluppo Locale. Company Presentation
BORGHI SRL Iniziative Sviluppo Locale Company Profile Incorporated in July 2008, BORGHI Ltd pursues the promotion of real estate and tourism development projects in borghi, historical towns and minor historical
More informationpresentazionenew_eng:layout 1 16/04/2015 20:09 Page 1 VISTA Parliamentary TV Agency Rome / Brussels
presentazionenew_eng:layout 1 16/04/2015 20:09 Page 1 VISTA Parliamentary TV Agency Rome / Brussels presentazionenew_eng:layout 1 16/04/2015 20:09 Page 2 Corriere della Sera Yahoo Il Messaggero La Stampa
More informationOngoing Italian Wetland Inventory through the MedWet WIS (Wetland Inventory System) level = PMWI
Ongoing Italian Wetland Inventory through the MedWet WIS (Wetland Inventory System) level = PMWI Susanna D Antoni e Mario Cenni susanna.dantoni@isprambiente.it m.cenni@arpat.toscana.it 1 Introduction Since
More informationOver 200 companies part of ELITE community in Italy and UK
Over 200 companies part of ELITE community in Italy and UK - 31 companies join ELITE Italia - 16 companies join ELITE UK - 16 graduated companies receive ELITE certificates - ELITE for Large Corporates
More informationThe UBI Banca Group Consolidated Results as at 31 st December 2015. 11 th February 2016
The UBI Banca Group Consolidated Results as at 31 st December 2015 11 th February 2016 Disclaimer This document has been prepared by Unione di Banche Italiane Spa ("UBI") for informational purposes only
More informationAN OVERVIEW OF THE UK OUTBOUND MARKET
AN OVERVIEW OF THE UK OUTBOUND MARKET 2014 2015 (Provisional data - Quarter 1) The latest data published by the Office for National Statistics (ONS) indicates that in the period Jan- March 2015 the overall
More informationDiscover Trinity College London
Discover Trinity College London Discover Trinity Trinity College London is a leading international examinations board with a difference. Our reputation rests on our ability to provide respected qualifications
More informationFirst half results presentation. October 2006
First half results presentation October 2006 CONTENTS - Mines de la Lucette Group - First step of the strategy - Assets at 30 June 2006 - Consolidated financial statements at 30 June 2006 - Second step
More informationEUROCASTLE INVESTMENT LIMITED. 2011 Investor Presentation
EUROCASTLE INVESTMENT LIMITED 2011 Investor Presentation Forward Looking Statements This release contains statements that constitute forward-looking statements. Such forward-looking statements may relate
More informationPrice Dispersion: The Case of Pasta
Price Dispersion: The Case of Pasta Isabella Carbonaro, Raffaele Santioni, and Margherita Carlucci 1 Introduction and Problem Definition The aim of our research is to explore the possibility of utilizing
More informationWhere do we come from?
ESCAP 13 International Congress Bridging the Gaps School integration as community care: the italian model Florence, 28 August 2007 Maria Antonella Costantino*, Giancarlo Onger, Dante Besana** *Director,
More informationREGLEG PRESIDENCY 2011
REGLEG PRESIDENCY 2011 Brussels Capital region REGLEG: 73 REGIONS WITH LEGISLATIVE POWER Austria(9) Burgenland, Kärnten, Niederösterreich, Öberösterreich, Salzburg, Steiermark, Tirol, Vorarlberg, Wien.
More informationSector Risk Management in the Italian Public Market
ubblici S.r.l. Publication Date: Nov. 14, 2002 CMBS Presale Report S.C.I.P. Società Cartolarizzazione Immobili Pubblici S.r.l. 6.637 billion asset-backed floating-rate notes Analysts: Jonathan Braidley,
More informationINDEX ITALIAN SUPPLIERS
INDEX ITALIAN SUPPLIERS ACAMPORA TRAVEL.. 1 ALLEGROITALIA HOTELS & RESORTS.. 3 AMANDATOUR. 5 ARENA DI VERONA OPERA FESTIVAL... 7 AVI TRAVEL... 9 BETTOJA HOTELS... 11 CARRANI TOURS.. 13 CORTINA TURISMO..
More informationRESULTS OF THE NATIONAL SURVEY ON RADON INDOORS IN ALL THE 21 ITALIAN REGIONS
Radon in the Living Environment, 122 RESULTS OF THE NATIONAL SURVEY ON RADON INDOORS IN ALL THE 21 ITALIAN REGIONS F. Bochicchio *, G.Campos Venuti *, S.Piermattei ^, G.Torri ^, C.Nuccetelli *, S.Risica
More informationTHE ITALIAN INNOVATION SYSTEM AND ITS POTENTIAL FOR HIGH-TECH START-UPS
CHAPTER 3 THE ITALIAN INNOVATION SYSTEM AND ITS POTENTIAL FOR HIGH-TECH START-UPS This chapter summarizes figures and characteristics of the Italian Innovation System through the analysis of general indicators
More informationThe drive-test campaigns in Italy
Assessment of QoS in mobile networks The drive-test campaigns in Italy Andrea Neri (FUB) Arianna Rufini (FUB) Mariano Baldi (AGCOM) ITU Regional Workshop for Europe - New Issues in Quality of Service Measuring
More informationYouth Entrepreneurship in Italy. An Overview from Isfol
Youth Entrepreneurship in Italy. An Overview from Isfol Paper for OECD Study Visit in Rome (ISFOL, 2.10.2014) Authors/Members of ISFOL Delegation: Antonello SCIALDONE, Social Innovation Project Maria DI
More informationITALIAN GUIDELINES FOR THE APPLICATION OF RISK ASSESSMENT AT CONTAMINATED SITES
ITALIAN GUIDELINES FOR THE APPLICATION OF RISK ASSESSMENT AT CONTAMINATED SITES, PhD Head of the Contaminated Sites Unit APAT laura.daprile@apat.it DALL EMERGENZA DELLE BONIFICHE AD UNA GESTIONE CONSAPEVOLE
More informationAn introduction to the UBI Banca Group. Ernst Rolf Hartmann
An introduction to the UBI Banca Group Ernst Rolf Hartmann The History of UBI Banca explains strong customer loyalty and stability of funding base Unione di Banche Italiane Scpa ( UBI Banca ) was formed
More informationEUROCASTLE INVESTMENT LIMITED. Proposal to Convertible Debt Investors February 28, 2013
EUROCASTLE INVESTMENT LIMITED Proposal to Convertible Debt Investors February 28, 2013 Disclaimer The information in this document has been prepared by Eurocastle Investment Limited (the "Company") solely
More informationItalian Youth Guarantee Implementation Plan
Italian Youth Guarantee Implementation Plan 1 The context 1.1 The European context EU Council Recommendation of 22 April 2013 on establishing a Youth Guarantee (henceforth Guarantee ) invites Member States
More informationALM in UK Life. DRAFT 12 January 2011 V1
ALM in UK Life WP & Annuity strategy t John Lister DRAFT 12 January 2011 V1 1 ALM in UK Life Summary Asset and Liability management is at the core of what we do This combined with the quality of our credit
More information2010 Half-Year Results
1 2010 Half-Year Results 1 1 Summary 2 1 Introduction A promising first half Sharp rise in residential take-up Tenant sales improving Two shopping centres delivered 95% let Acquisition of Cap 3000 Change
More informationLarge Corporate One S.r.l.
Large Corporate One S.r.l. INVESTOR REPORT Securitisation of a portfolio of large corporate loans 897,000,000 Class A Notes 103,000,000 Class B Notes Investor Report Date 20/02/2015 Relevant Quarterly
More informationMilan: a rich region Province of Milan = 3.7 million inhabitants Italy s richest urban agglomeration & one of the wealthy OECD metro regions
The case of Milan Milan: a rich region Province of Milan = 3.7 million inhabitants Italy s richest urban agglomeration & one of the wealthy OECD metro regions 35 34.08 Milan Province 33 31 Highest GDP
More informationQuarterly Asset Class Report Institutional Fixed Income
Quarterly Asset Class Report Institutional Presentation To: Presented By: canterburyconsulting.com September 30, 015 Role in the Canterbury Consulting recommends and communicates asset-class strategy with
More informationThe UBI Banca Group Consolidated Results as at 30 th September 2015. 11 th November 2015
The UBI Banca Group Consolidated Results as at 30 th September 2015 11 th November 2015 Disclaimer This document has been prepared by Unione di Banche Italiane Spa ("UBI") for informational purposes only
More informationThe emergency planning for volcanic risk at Vesuvius and Campi Flegrei
Roma, 9th October 2014 The emergency planning for volcanic risk at Vesuvius and Campi Flegrei Fabrizio Curcio The risks www.protezionecivile.gov.it seismic hydrogeological floods volcanic forest fire industrial
More informationAir Quality Monitoring in Italy
MACC-III user workshop Rome, 11 May 2015 An overview of the Italian availability of air quality monitoring data Anna Maria Caricchia, Domenico Gaudioso Italian National Institute for Environmental Protection
More informationToday Eurocrea is organized in three different business units: Eurocrea Consulting; Eurocrea Financial Services; Eurocrea Merchant.
Eurocrea was established in 1988 aiming at providing SMEs with consulting and other services related to Subsidized Credit. Since then it has always played a leading role in this sector which had not been
More informationPROVISIONAL DATA ON OPERATION OF THE ITALIAN POWER SYSTEM
213 PROVISIONAL DATA ON OPERATION OF THE ITALIAN POWER SYSTEM Terna manages electricity transmission in Italy and guarantees its safety, quality and low costs over time. The Company ensures equal access
More informationStrategic Development of Crédit Agricole S.A. in Italy October 12, 2006
Strategic Development of Crédit Agricole S.A. in Italy October 2, 2006 - Mars 2006 . Summary Terms 2. Crédit Agricole S.A. in Italy 3. Overview of Acquired Networks 4. Industrial Project 5. Concluding
More informationSTATISTICAL LABORATORY, USING R FOR BASIC STATISTICAL ANALYSIS
STATISTICAL LABORATORY, USING R FOR BASIC STATISTICAL ANALYSIS Manuela Cattelan 1 ABC OF R 1.1 ARITHMETIC AND LOGICAL OPERATORS. VARIABLES AND AS- SIGNMENT OPERATOR R works just as a pocket calculator,
More informationAngioplastica Primaria nelle SCA:
MALATTIE CARDIOVASCOLARI: DALLA FASE ACUTA ALLA PREVENZIONE, L ACCESSO ALLE TERAPIE NELL ERA ERA DEL RISANAMENTO ECONOMICO Roma, Palazzo Marini Sala delle Colonne 04 Ottobre 2011 Angioplastica Primaria
More informationRegional policies for endorsing Renewable Energy production in Apulia. Department Director: A. Antonicelli
Regione Puglia Requalification, protection and security of the environment policies Area Regional policies for endorsing Renewable Energy production in Apulia Department Director: A. Antonicelli Main focuses
More informationMark Weiss, President
Mark Weiss, President Safe Harbor Certain items in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements
More informationCompetitive bidding in local public services: the case of Local Public Transport. Prof. Carlo Cambini Politecnico di Torino carlo.cambini@polito.
Competitive bidding in local public services: the case of Local Public Transport Prof. Carlo Cambini Politecnico di Torino carlo.cambini@polito.it Auctions Markets in which products are bought and sold
More informationCONTENTS THE ITALIAN REVENUE AGENCY THE GOVERNANCE CENTRAL ORGANISATION CENTRAL DIRECTORATES FUNCTIONS STAFF OFFICES FUNCTIONS
CONTENTS THE ITALIAN REVENUE AGENCY 2 THE GOVERNANCE 3 CENTRAL ORGANISATION 4 CENTRAL DIRECTORATES FUNCTIONS 5 STAFF OFFICES FUNCTIONS 6 TERRITORIAL ORGANISATION 7 FINANCIAL AND HUMAN RESOURCES 9 FIGURES
More informationHow To Live In Italy
WORKSHOP OCTOBER 19,2015 SCO SAN FRANCI INDEX 1. ALLEGROITALIA 3. BETTOJA HOTELS 5. FH HOTELS 7. GB THERMAE HOTELS 9. GOLDEN TOWER HOTEL & SPA 11. HOTEL FLORA 13. PODIUM TOUR OPERATOR 15. VITTORIA SRL
More informationThe drugs tracking system in Italy. Roma, March 21st 22nd 2006. W. Bergamaschi Ministry of Health
The drugs tracking system in Italy Roma, March 21st 22nd 2006 W. Bergamaschi Ministry of Health Agenda The economic context The normative context The project objectives The project working model The project
More informationInvesting in residential real estate debt - but which type?
Market Insight Investing in residential real estate debt - but which type? London 19 January 2015, by Arjan van Bussel and Steve Curry With interest rates at historically low levels, fixed income investors
More informationHighlights. The factoring market and group positioning. Strategies. Consolidated financial and economic data. Attachments
4 th Q. 2008 Highlights The factoring market and group positioning Strategies Consolidated financial and economic data Attachments The Credit Crunch : impact on Banca IFIS s activity The consequences for
More informationCompany Roadshow Presentation HAMBORNER REIT AG. Preliminary figures 2012 February 2013
Company Roadshow Presentation HAMBORNER REIT AG Preliminary figures 2012 February 2013 HAMBORNER REIT AG key investment highlights Creating sustainable shareholder value Strong asset and portfolio management
More informationworkshop The challenge of Bio-districts during the 2014-2020 programming period
Welcome and opening: Andrea Ferrante AIAB Francesco Giardina Ministry of Agriculture Alessandra Terrosi Chamber of Deputies - Committee on Agriculture Interventions: Livio Martini - President of the Bio-district
More informationMaintenance and Densification of the Italian GNSS Network. DIPARTIMENTO DI GEOSCIENZE A. Caporali J. Zurutuza M. Bertocco R. Corso P.
Maintenance and Densification of the Italian GNSS Network DIPARTIMENTO DI GEOSCIENZE A. Caporali J. Zurutuza M. Bertocco R. Corso P. Legovini Outline Maintenance and Densification of the Italian GNSS Network
More informationCo-operative Banking in Trentino and in Italy
Co-operative Banking in Trentino and in Italy Trento, October 13 th 2009 Dott. Vincenzo Visetti Chief of Secretary TRENTINO FEDERATION OF CO-OPERATIVES Co-operative Banks System of autonomous banks Local
More informationTLG IMMOBILIEN AG H1 2015 Results August 2015
TLG IMMOBILIEN AG H1 2015 Results August 2015 Disclaimer This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking
More informationAz. Ag. Giardino MIELE VERGINE INTEGRALE ITALIANO
Az. Ag. Giardino MIELE VERGINE INTEGRALE ITALIANO A few years ago, my brother and I, we bought three hives to pollinate the orchards of the farm and also to put into practice the years of study of this
More informationING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m
ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m 1 November 2007 0 DISCLAIMER NOT FOR DISTRIBUTION OR RELEASE IN THE UNITES STATES OR TO U.S. PERSONS This presentation
More informationUBIWorld. Laura Tanno
UBIWorld Laura Tanno INTERNATIONALIZATION: a way of surviving or a strategic option? A big opportunity for Italy, Italian companies and UBI 2 Internationalization: a great opportunity Italian companies
More informationThe Italian Cloud and Impact Assessment of a governmental Strategy
A Methodology for the Impact Assessment of a g-cloud Strategy for the Italian Ministry of the Economic Development Francesca Spagnoli, Francesco Bellini and Alessandra Ghi Abstract The paper has the objective
More informationAnalyst meeting Full year results. Rotterdam 15 February 2013
Analyst meeting Full year results Rotterdam 15 February 2013 Portfolio & Strategy Focus on Netherlands and Belgium Exit strategy Switzerland; 70% assets sold; sale of 2 remaining assets ongoing High Yield
More informationNoFrills Bergamo 27-28 September 2013
NoFrills Bergamo 27-28 September 2013 You manage the business, NoFrills the rest NoFrills is among the most important Business to Business tourism events in Italy. It is a unique opportunity for professionals
More informationArc Angel Aligners. The growth is in our DNA
Arc Angel Aligners The growth is in our DNA 2 The success is on the network Arc Angel is an idea that combines a choice of added value elements for the dental practitioner. One of the strongest points
More informationMEASURING OUR PERFORMANCE
MEASURING OUR PERFORMANCE Our objective is to provide above average long-term returns to shareholders through the execution of our strategy. In order to measure the effectiveness of the different strands
More informationDesigning The Ideal Investment Policy Presented To The Actuaries Club of the Southwest & the Southeastern Actuarial Conference
Designing The Ideal Investment Policy Presented To The Actuaries Club of the Southwest & the Southeastern Actuarial Conference Presented by: Greg Curran, CFA & Michael Kelch, CFA AAM - Insurance Investment
More informationCapital Mortgage Series 2007-1
Cover - Page 1 INVESTORS REPORT - Payment Date: 31/10/2011 Capital Mortgage Series 2007-1 Euro 1,736,000,000 Class A1 Asset Backed Floating Rate Notes due January 2007 Euro 644,000,000 Class A2 Asset Backed
More informationCompany Profile. Trento I 05.2015
Company Profile Trento I 05.2015 CASSA CENTRALE BANCA The main goal of the activities of Cassa Centrale Banca Group is to SUPPORT the operations of its partecipants and partner Banks (Cooperative Banks):
More informationI-2 Fixed Income Portfolio Review
I-2 Fixed Income Portfolio Review Committee on Investments/ Investment Advisory Group May 6, 2009 4Q 2008 Market Environment Lehman bankruptcy in September 2008 triggered the period of maximum stress for
More informationExperimental Regulatory Audit and National Seminar on standards and criteria for the inspection of blood establishments Ancona, 12 th 13 th May 2010
Experimental Regulatory Audit and National Seminar on standards and criteria for the inspection of blood establishments Ancona, 12 th 13 th May 2010 Promoted by the Italian National Blood Centre In cooperation
More informationSELF STORAGE MARKET OVERVIEW Fourth Quarter 2011
SELF STORAGE MARKET OVERVIEW Analysis of the Industry s Public Companies SELF STORAGE GROUP Marc A. Boorstein mboorstein@mjpartners.com Jeffrey L. Jacobson jjacobson@mjpartners.com Dennis Nyren dnyren@mjpartners.com
More informationThe resilience of the London property market Why London provides attractive opportunities for Commercial Property Investment
The resilience of the London property market Why London provides attractive opportunities for Commercial Property Investment Anthony Epenetos The Lorenz Consultancy The Lorenz Consultancy Commercial property
More informationCENTRAL EUROPE PROGRAMME Launch of the 3 rd Call for Proposals
CENTRAL EUROPE PROGRAMME 2007-2013 National Info Day Venice, 31 March 2010 CENTRAL EUROPE PROGRAMME Launch of the 3 rd Call for Proposals Barbara Di Piazza JTS CENTRAL EUROPE PROGRAMME CENTRAL EUROPE PROGRAMME
More informationEAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY
EAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY Report by Executive Head of Finance and Asset Management 1 PURPOSE OF REPORT
More informationCGI of Longbridge Town Centre, Birmingham INVESTOR PRESENTATION
CGI of Longbridge Town Centre, Birmingham INVESTOR PRESENTATION OCTOBER 2012 Agenda 1. About St. Modwen Properties PLC 2. Portfolio 3. Finances 4. Glossary of defined terms 2 About St. Modwen Properties
More informationSEB s Swedish Residential Mortgage Lending and Covered Bonds. Stockholm September, 2013
SEB s Swedish Residential Mortgage Lending and Covered Bonds Stockholm September, 2013 Contents SEB s Residential Mortgage Lending p.3 Asset Quality p.19 Cover Pool and Covered Bond Funding p.24 2 SEB
More information