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 60 20/10/2023
Chairman 64 10/06/2026

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
29,885,070 39.2 % 656 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
14,373,960 18.85 % 316 M €
Goldman Sachs International (Invt Mgmt)
3.37 %
2,569,266 3.37 % 56 M €
0.5981 %
455,966 0.5981 % 10 M €
Icade Employee Stock Ownership Plan
0.4752 %
362,230 0.4752 % 8 M €

Holdings: Icade

NameStocks%Valuation
455,9660.6% 10 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.($)
-0.57%+2.25%-8.28%-50.90% 1.66B
-0.91%+4.90%+21.85%+6.35% 16.9B
+0.06%+6.96%+9.38%+31.56% 7.21B
-0.57%+4.57%+20.57%+5.46% 6.99B
0.00%+1.64%-2.55%+16.94% 6.65B
-0.63%+5.09% - - 6.44B
+1.00%+4.64%-14.20%-24.88% 6.34B
-0.16%+2.12%+0.26%+4.95% 6.08B
-0.91%+2.88%+22.82%+23.06% 6.07B
-0.29%+1.76%-22.89%-26.17% 4.79B
Average -0.21%+3.99%+3.00%-1.51% 6.91B
Weighted average by Cap. -0.29%+4.44%+7.82%+4.59%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
19.17EUR
Average target price
21.91EUR
Spread / Average Target
+14.29%

Quarterly revenue - Rate of surprise