Business description: Icade

Icade is both a commercial real estate company (assets at 12/31/2025: EUR 6.1 billion, including 100% ownership and joint-venture interests) and a property developer (net sales in 2025: EUR 1.1 billion), operating throughout France. As a long-term partner, Icade responds to changing needs and puts climate issues and the preservation of biodiversity at the heart of its business model, reinventing real estate and contributing to a more sustainable city.

Listed (SIIC) on Euronext Paris, Icade's main shareholder is the Caisse des Dépôts group.

Number of employees: 981

Sales by Activity: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Property Development

944M 1.08B 1.14B 1.21B 1.13B

Property Investment

408M 395M 516M 376M 353M

Intersegment Transactions and Other Items

-15.5M -17.6M 1.3M -1M -2.1M

Unallocated Adjustment for Property Development Joint Ventures

- - - -176M -142M

Healthcare Property Investment Business

324M 361M - - -

Geographical breakdown of sales: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

France

1.65B 1.83B 1.52B 1.41B 1.34B

Executive Committee: Icade

Manager TitleAgeSince
Chief Executive Officer 44 20/04/2023
Director of Finance/CFO 60 06/04/2025
Chief Tech/Sci/R&D Officer - 30/06/2024
Compliance Officer 56 31/12/2017
Corporate Secretary - 28/06/2026

Composition of the Board of Directors: Icade

Director TitleAgeSince
Director/Board Member 62 30/05/2011
Director/Board Member 68 05/10/2020
Chairman 64 09/06/2026
Director/Board Member 69 22/05/2016
Director/Board Member 61 19/10/2023
Director/Board Member 61 16/10/2019
Director/Board Member - 11/12/2025
Director/Board Member 52 23/04/2019
Director/Board Member 54 05/12/2023
Director/Board Member 56 19/10/2023

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
29,885,071 39.2 % 631 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
14,373,960 18.85 % 304 M €
Goldman Sachs International (Invt Mgmt)
4.156 %
3,168,333 4.156 % 67 M €
2.241 %
1,708,418 2.241 % 36 M €
Icade Employee Stock Ownership Plan
0.5532 %
421,722 0.5532 % 9 M €

Holdings: Icade

NameStocks%Valuation
ICADE
0.54%
408,4660.54% 9 M $

Company details: Icade

Icade SA

Tour Hyfive

92074, Paris

+33 1 41 57 70 00

http://www.icade.fr
address Icade(ICAD)

Group companies: Icade

NameCategory and Sector
Quinconces Activites SCI
Real Estate Development
Real Estate Development
Silky Way SCI
Stratège SCI

Diversified REITs

Change 5-day change 1-year change 3-year change Capi.($)
-1.08%-1.38%-20.66%-48.17% 1.42B
+0.21%-0.26%-1.94%+16.64% 15.06B
-0.50%-0.96% - - 6.97B
-0.08%-1.20%+7.48%+2.66% 6.06B
-0.68%-1.12%-17.11%+10.25% 5.93B
+0.23%-0.82%-9.95%+18.86% 5.74B
-0.33%+0.22%+0.17%+2.06% 5.54B
0.00%-2.67%-23.38%-35.11% 5.38B
+0.25%-0.30%+14.56%+25.47% 5.38B
-1.72%-1.72%-25.11%-20.60% 4.75B
Average -0.37%-1.02%-8.44%-3.11% 6.22B
Weighted average by Cap. -0.22%-0.87%-6.11%+4.14%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
16.47EUR
Average target price
20.68EUR
Spread / Average Target
+25.57%

Quarterly revenue - Rate of surprise