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)
3.341 %
2,547,369 3.341 % 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.($)
-0.09%+3.19%-10.57%-46.86% 1.88B
-1.62%+2.06%+19.15%+7.43% 16.81B
-1.54%+6.02%+3.23%+24.33% 7.03B
-2.01%+0.80%-6.60%+22.96% 6.54B
+0.30%+6.55%+6.98%+12.88% 6.59B
+0.41%+3.36%-22.21%-24.36% 6.36B
-0.22%+3.52%-7.21%+5.41% 5.81B
+0.38%+5.91%+8.54%+25.37% 5.78B
-2.23%+4.46%-24.68%-22.00% 5.02B
-2.10%+0.68% - - 4.72B
Average -0.85%+4.28%-3.71%+0.57% 6.65B
Weighted average by Cap. -0.99%+4.07%+1.13%+5.76%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
12
Last Close Price
21.32EUR
Average target price
21.67EUR
Spread / Average Target
+1.63%

Quarterly revenue - Rate of surprise

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