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.

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
Corporate Secretary - 2026-06-28

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 68 2020-10-05
Director/Board Member 61 2019-10-16
Director/Board Member 56 2023-10-19
Director/Board Member 54 2023-12-05
Director/Board Member - 2024-04-18
Director/Board Member 60 2023-10-19
Chairman 64 2026-06-09

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
29,885,071 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 €
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

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.($)
-0.79%+0.59%+17.04%+5.94% 16.97B
+0.53%-3.75%+4.83%+29.02% 6.91B
+1.14%+1.36%+20.96%+8.04% 6.89B
+0.16%+4.94% - - 6.71B
+2.20%+2.82%+2.82%+16.93% 6.7B
+0.94%-0.07%-14.11%-23.56% 6.3B
+0.66%+3.06%+2.48%+7.06% 6.15B
+0.50%+1.65%+23.87%+29.93% 6.01B
+1.40%+3.46%+12.39%+45.85% 4.85B
Average +0.75%+0.78%+8.78%+14.90% 7.5B
Weighted average by Cap. +0.50%+0.77%+10.13%+12.63%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
19.52EUR
Average target price
21.82EUR
Spread / Average Target
+11.77%

Quarterly revenue - Rate of surprise