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 69 22/05/2016
Director/Board Member 52 23/04/2019
Director/Board Member 68 05/10/2020
Director/Board Member 61 16/10/2019
Director/Board Member 56 19/10/2023
Director/Board Member 54 05/12/2023
Director/Board Member - 18/04/2024
Director/Board Member 61 19/10/2023
Chairman 64 09/06/2026

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
29,885,071 39.2 % 665 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
14,373,960 18.85 % 320 M €
Goldman Sachs International (Invt Mgmt)
3.37 %
2,569,266 3.37 % 57 M €
Icade Employee Stock Ownership Plan
0.5532 %
421,722 0.5532 % 9 M €
0.5358 %
408,466 0.5358 % 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.($)
-0.26%+1.64%-15.15%-42.88% 1.69B
+0.18%-0.26%+9.96%+10.76% 16.32B
+0.49%-0.28%+24.13%+16.04% 7.15B
+2.50%+0.53% - - 7.11B
-0.77%-2.29%-2.66%+22.14% 6.97B
+0.06%+1.40%+2.10%+31.67% 6.72B
-0.07%-1.86%-14.99%-22.31% 6.35B
0.00%-0.51%+2.43%+8.87% 6.15B
+0.09%-1.26%+26.84%+37.74% 6.08B
0.00%-2.21%-22.71%-22.37% 4.95B
Average +0.22%-0.44%+1.11%+4.41% 6.95B
Weighted average by Cap. +0.27%-0.50%+4.42%+9.88%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
19.26EUR
Average target price
21.22EUR
Spread / Average Target
+10.17%

Quarterly revenue - Rate of surprise