ICADE FRESK
Issy-les-Moulineaux,
Hauts-de-Seine
Activity
as of September 30, 2021
October 25, 2021
DESIGNING, BUILDING, MANAGING AND INVESTING
in cities, neighbourhoods and buildings that are innovative, diverse, inclusive and connected with a reduced carbon footprint.
Desirable places to live and work.
This is our ambition. This is our goal.
This is our Purpose.
DISCLAIMER
This presentation is not an offer or an invitation to sell or exchange securities, or a recommendation to subscribe, buy or sell Icade securities.
Distribution of this document may be restricted in certain countries by legislation or regulations. As a result, any person who comes into possession of this document should familiarise themselves and comply with such restrictions. To the extent permitted by applicable law, Icade excludes all liability and makes no representation regarding the violation of any such restrictions by any person.
ACTIVITY AS OF SEPTEMBER 30, 2021 | 2 |
OCTOBER 25, 2021 |
AGENDA
1
2
3
2021 Q3 Key takeaways
Business performance by business line
Outlook
ACTIVITY AS OF SEPTEMBER 30, 2021 | 3 |
OCTOBER 25, 2021 |
1. 2021 Q3 KEY TAKEAWAYS
CONSOLIDATED REVENUE AS OF SEPTEMBER 30, 2021
Revenue at €1.2bn, up +25.2% vs. Sept. 2020; +20.2% vs. Sept. 2019
(€m) | 09/30/2021 | 09/30/2020 | 09/30/2019 | Chg. 2021 | Chg. 2021 | LFL chg. 2021 |
vs. 2020 (%) | vs. 2019 (%) | vs. 2020 (%) | ||||
Gross rental income from Office Property Investment | 273.1 | 267.9 | 256.3 | 1.9% | 6.6% | 0.0% | ||
Gross rental income from Healthcare Property Investment | 239.3 | 224.6 | 195.7 | 6.6% | 22.3% | 0.5% | ||
Other income (1) | 12.4 | 13.6 | 21.4 | (8.6)% | (41.8)% | (4.9)% | ||
Gross rental income from Property Investment | 524.8 | 506.1 | 473.4 | 3.7% | 10.9% | 0.3% | ||
Property Development revenue | 689.2 | 467.5 | 553.7 | 47.4% | 25.4% | 47.4% | ||
Other revenue (2) | ||||||||
10.1 | 4.4 | (9.2) | N/A | N/A | N/A | |||
CONSOLIDATED REVENUE | 1,224.1 | 978.0 | 1,017.9 | 25.2% | 20.2% | 24.2% | ||
- Other Office Property Investment assets and intra-group operations
(2) « Other revenue » mainly includes intra-groupoperations | ACTIVITY AS OF SEPTEMBER 30, 2021 | 4 |
OCTOBER 25, 2021 | ||
1. 2021 Q3 KEY TAKEAWAYS
Q3 2021 - KEY TAKEAWAYS
Solid business performance across our 3 business lines
- Office Property Division: continuation of a very active asset management (140,000 sq.m signed or renewed YTD); resilient leasing activity (GRI stable LFL)
- Healthcare Property Division: steadily growing GRI (≈+7%) driven by acquisitions; signifiant renewals of 10 leases with Ramsay in France (12 years, ≈€38M in headline rental income); IPO postponed
- Property Development Division: market upturn confirmation, economic revenue at €776m, up ≈+55% driven by the residential segment (≈85% of total revenue); new orders up +39% vs. 2020 (+8% vs. 2019)
Continuing investment momentum in the Property Investment Divisions
- Offices: disposals and acquisition completed to date: €462m and €243m respectively YTD
- Healthcare: YTD investment of nearly €480m in line with the annual €450/500m target
Strong balance sheet for Icade & Icade Santé: S&P BBB+ ratings, stable outlook confirmed in July
Confirmation of 2021 guidance raised in July
- NCCF: expected to grow by ≈+6%, excl. the impact of 2021 disposals, (≈+3%, incl. impact of 2021 disposals)
- Dividend: expected to increase by +3%
- NCCF target for the Healthcare division confirmed at €251m
ACTIVITY AS OF SEPTEMBER 30, 2021 | 5 |
OCTOBER 25, 2021 |
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Icade SA published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 06:13:02 UTC.
