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
Director of Finance/CFO - 28/02/2021

Composition of the Board of Directors: Icade

Director TitleAgeSince
Director/Board Member 62 30/05/2011
Director/Board Member 69 22/05/2016
Director/Board Member 52 23/04/2019
Director/Board Member 50 14/03/2018
Director/Board Member 49 23/04/2019
Director/Board Member 48 05/10/2020
Director/Board Member 68 05/10/2020
Director/Board Member 57 13/02/2020
Director/Board Member 61 16/10/2019
Director/Board Member 38 29/11/2007

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
29,885,070 39.2 % 734 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
14,373,960 18.85 % 353 M €
Goldman Sachs International (Invt Mgmt)
3.37 %
2,569,266 3.37 % 63 M €
0.5981 %
455,966 0.5981 % 11 M €
Icade Employee Stock Ownership Plan
0.4752 %
362,230 0.4752 % 9 M €

Holdings: Icade

NameStocks%Valuation
455,9660.6% 11 M $

Company details: Icade

Icade SA

27, rue Camille Desmoulins

92130, 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.($)
-1.25%-1.91%-12.33%-48.26% 1.67B
-1.08%-4.01%+12.59%+3.70% 15.89B
-0.96%+1.18%-1.97%+30.79% 6.74B
+0.31%-0.30%+9.44%+9.61% 6.49B
+0.21%-6.41%-5.49%+16.43% 6.39B
+0.89%+2.01% - - 6.18B
0.00%-1.69%-19.74%-26.61% 6.17B
-0.90%-2.19%-5.21%+10.17% 5.9B
-0.62%-1.10%+14.09%+30.25% 5.71B
-0.88%-5.04%-25.00%-26.30% 4.68B
Average -0.45%-1.51%-3.73%-0.02% 6.58B
Weighted average by Cap. -0.48%-1.67%+0.05%+5.01%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
12
Last Close Price
19.23EUR
Average target price
21.67EUR
Spread / Average Target
+12.67%

Quarterly revenue - Rate of surprise