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 2023-04-20
Director of Finance/CFO 60 2025-04-06
Chief Tech/Sci/R&D Officer - 2024-06-30
Compliance Officer 56 2017-12-31
Director of Finance/CFO - 2021-02-28

Composition of the Board of Directors: Icade

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

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.($)
+0.19%+3.31%-12.01%-47.58% 1.85B
-0.34%+2.16%+19.32%+6.66% 16.83B
-1.43%+2.29%-7.30%+23.12% 6.56B
+0.79%+7.81%+3.02%+27.11% 6.79B
+2.57%+5.10%+5.86%+8.40% 6.37B
+1.03%+2.86%-23.00%-24.42% 6.23B
+1.35%+2.19%-8.75%+0.30% 5.64B
+1.56%+4.51%+5.68%+21.26% 5.6B
+0.98%+4.14% - - 4.81B
+1.43%+5.99%-26.25%-20.63% 4.82B
Average +0.81%+3.49%-4.82%-0.64% 6.55B
Weighted average by Cap. +0.63%+3.24%+0.43%+4.66%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
12
Last Close Price
21.20EUR
Average target price
21.67EUR
Spread / Average Target
+2.20%

Quarterly revenue - Rate of surprise

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