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 21/04/2023
Director of Finance/CFO 60 07/04/2025
Chief Tech/Sci/R&D Officer - 01/07/2024
Compliance Officer 56 01/01/2018
Corporate Secretary - 29/06/2026

Composition of the Board of Directors: Icade

Director TitleAgeSince
Director/Board Member 62 31/05/2011
Director/Board Member 69 23/05/2016
Director/Board Member 52 24/04/2019
Director/Board Member 68 06/10/2020
Director/Board Member 61 17/10/2019
Director/Board Member 56 20/10/2023
Director/Board Member 54 06/12/2023
Director/Board Member - 19/04/2024
Director/Board Member 61 20/10/2023
Chairman 64 10/06/2026

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)
4.156 %
3,168,333 4.156 % 71 M €
2.241 %
1,708,418 2.241 % 38 M €
Icade Employee Stock Ownership Plan
0.5532 %
421,722 0.5532 % 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.($)
-3.13%-7.12%-13.51%-48.72% 1.6B
+0.46%-2.06%+6.08%+7.66% 15.94B
+2.24%-2.60% - - 6.9B
-1.78%-2.06%+21.98%+11.74% 6.89B
+0.28%-2.37%-2.15%+24.77% 6.49B
+0.43%+0.85%-14.80%+12.38% 6.45B
-1.17%-6.11%-19.19%-30.91% 5.88B
-2.59%-5.03%+0.35%+1.68% 6B
-1.48%-2.33%+25.46%+29.42% 5.92B
+1.92%-2.37%-21.73%-23.35% 5.14B
Average -0.47%-2.48%-1.94%-1.70% 6.72B
Weighted average by Cap. -0.15%-2.36%+0.76%+4.11%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
18.19EUR
Average target price
21.04EUR
Spread / Average Target
+15.65%

Quarterly revenue - Rate of surprise