Icade Sa · EURONEXT:ICAD
Icade Sa — Investor Day (November 2018)
78 slides from Icade Sa's investor day presentation, Nov 26, 2018
Slide 1: Investor Day
MILLÉNAIRE (19th district of Paris; Aubervilliers, Seine-Saint-Denis) INVESTOR DAY Monday, November 26, 2018
Slide 2: Agenda
AGENDA 1. Introduction 2. Office Portfolio Spotlight on the development pipeline and the Portes de Paris business park 3. Healthcare Real Estate Heading towards international markets 4. Property Development Revenue potential 5. Key financial stakes 6. Conclusion INVESTOR DAY NOVEMBER 26, 2018 • 2
Slide 3: Introduction
COURLANCY POLYCLINIC (Reims, Marne) 1. INTRODUCTION
Slide 4: Introduction
1. Introduction INTRODUCTION Icade in line to deliver 2018 targets Positive market conditions that will support the company’s performance in the medium term 2019-2022 Plan, announced in July, oriented towards continued profitable growth Icade’s new roadmap unanimously supported by the Board of Direc
Slide 5: New 2019–2022 Plan: Four Pillars
1. Introduction NEW 2019–2022 PLAN: FOUR PILLARS... 1 2 3 4 Leader in the Greater European leader Key player Best-in-class player Paris office market in healthcare in the French property in terms of and major cities real estate development CSR & Innovation and outside Paris market new real estate se
Slide 6: … With Clear Priorities
1. Introduction … WITH CLEAR PRIORITIES Office Portfolio: focus on development pipeline and asset rotation Healthcare Real Estate: diversification into the nursing home segment, international expansion and liquidity by 2020/2022 Property Development: global player, limited exposure and attractive pr
Slide 7: Office Portfolio
ORIGINE (Nanterre, Haut-de-Seine) 2. OFFICE PORTFOLIO Spotlight on the development pipeline and the Portes de Paris business park
Slide 8: Offices: Favourable Market Conditions
Appendices OFFICES: FAVOURABLE MARKET CONDITIONS Robust occupier demand in the Paris region (1) 1.9 million sq.m taken up since the beginning of 2018, up 6% from 2017 A FAVOURABLE MARKET Immediate supply below 3m sq.m (-15% YoY) FOR OUR PROJECTS Scarcity of new office space: only 13% of availa
Slide 9: Development Pipeline: Acceleration & Sustained Completion Pace
2. Office Property Investment – Development pipeline DEVELOPMENT PIPELINE: ACCELERATION & SUSTAINED COMPLETION PACE PROJECTS OFF-PLAN PROJECTS NOT As of 09/30/2018 (1) STARTED PROJECTS COMMITTED TOTAL PIPELINE Number of projects 12 7 4 23 Projects completed Investment amount (2) €1,378m €443m €337m
Slide 10: A Pipeline Focused on the Heart of the Greater Paris Area
2. Office Property Investment – Development pipeline A PIPELINE FOCUSED ON THE HEART OF THE GREATER PARIS AREA (86%) OFF-PLAN PROJECTS DEVELOPMENTS €443m (1) To be disbursed 32% 68% €1,7bn (1) Projects 20% not committed 80% Projects Completed PORTES DE PARIS BUSINESS PARK started NANTERRE MILLÉNAIRE
Slide 11: Future Rents and Value Creation
2. Office Property Investment – Development pipeline FUTURE RENTS AND VALUE CREATION EXPECTED ADDITIONAL RENTAL INCOME REALISING THE VALUE CREATION POTENTIAL (Headline, annualised, in €m) FROM THE DEVELOPMENT PIPELINE Total: €136m 39 35 including €51m of pre-lets 0.6 23 64% 17 14 7 51% 37% 1.9 (2) 2
Slide 12: Portes de Paris Business Park & Millénaire: Development Is Speeding Up
PORTES DE PARIS BUSINESS PARK & MILLÉNAIRE DEVELOPMENT IS SPEEDING UP INVESTOR DAY NOVEMBER 26, 2018 • 12
Slide 13: A Favourable Market Benefiting from Grand Paris Express and Paris 2024
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up A FAVOURABLE MARKET WHICH WILL BENEFIT FROM GRAND PARIS EXPRESS AND THE PARIS 2024 OLYMPIC GAMES Saint-Denis Unique land bank totalling 580,000 sq.m on the doorstep of Paris offering development opportunities, Stade de Fran
Slide 14: A Buoyant Market: #1 Saint-Denis
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up A BUOYANT MARKET An area which has seen very significant levels Size of the office stock of new office space #1 Saint-Denis Town that has seen the largest volume of new space in 1,265,000 sq.m End of 2017 the Paris region f
Slide 15: Robust Leasing Activity
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up ROBUST LEASING ACTIVITY ENDURING OCCUPIER DEMAND CONSISTENTLY DECLINING VACANCY DRIVEN BY NEW SUPPLY AND TRANSPORT INFRASTRUCTURE REFLECTING THE EMERGENCE OF A NEW URBAN AREA 6% Vacancy rate Number of transactions 12.5% 60%
Slide 16: Rental Values Are Strengthening
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up RENTAL VALUES ARE STRENGTHENING (in €/sq.m) 800 Paris, 19th district Saint-Denis Aubervilliers 700 €370/sq.m €300/sq.m €300-350/sq.m 600 +€70/sq.m +€45/sq.m +€65 to €115/sq.m (€300/sq.m in 2006) (€255/sq.m in 2003) (€235/sq
Slide 17: A Very Active Investment Market
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up A VERY ACTIVE INVESTMENT MARKET PRIME YIELDS AND LOCATION PREMIUM IN INNER RING NORTH 8,0% 350 7,0% 300 6,0% €330m/year on average in Saint-Denis 5,0% 250 Property values have 200 4,0% Transaction volumes sharply up 150 str
Slide 18: Positive Operational Indicators
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up POSITIVE OPERATIONAL INDICATORS CONSTANT INCREASE IN FAIR VALUE SINCE 2014 ANNUALISED RENTAL INCOME ON THE RISE SINCE 2014 (in €bn and as a % of the portfolio on a Group share basis) (in €m) 89 0.3 0.3 1.8 Value up 75 1.5 €
Slide 19: An Already Substantial Development Pipeline
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up AN ALREADY SUBSTANTIAL DEVELOPMENT PIPELINE Pulse project Pôle Numérique project Pipeline Projects (launched and secured projects) (completion date) PORTES DE PARIS T8 Floor area on completion 167,000 sq.m BUSINESS PARK 1
Slide 20: Significant Potential Through Our Land Bank
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up BEYOND THE DEVELOPMENT PIPELINE, A SIGNIFICANT POTENTIAL THROUGH OUR LAND BANK T8 350,000 sq.m (1) available land bank 12 Between 30,000 sq.m and 50,000 sq.m to be developed per year Existing Planned Stations T8 Infrastruct
Slide 21: In Summary: Portes de Paris Business Park, a Key Stake for Icade
2.1. Portes DE PARIS & MILLÉNAIRE business parks: development is speeding up IN SUMMARY: PORTES DE PARIS BUSINESS PARK, A KEY STAKE FOR ICADE A core asset for Icade (€1.8bn (1)) A strong development in a dynamic and favourable market, sought-after by companies potential and a proven track record for
Slide 22: 2019-2022: Priorities for Office Investment
2. Office Property Investment 2019-2022: PRIORITIES FOR OFFICE INVESTMENT Market leader in office real estate in prime Greater Paris locations and major cities outside Paris Focus on growth and value creation potential Faster development and/or commercialisation of the land bank Opportunistic asset
Slide 23: Healthcare Real Estate
ATLANTIQUE MEDICAL HUB - ELSAN (St-Herblain, Loire-Atlantique) 3. HEALTHCARE REAL ESTATE Heading towards international markets
Slide 24: "My Health 2022": the French Government's Health Plan
3. Healthcare Property Investment – Opportunities in the French healthcare market “MY HEALTH 2022”—THE FRENCH GOVERNMENT’S HEALTH PLAN Prevention Access to care Breaking down barriers to modern healthcare Agnès Buzyn (for physicians in private practice, public/private) Minister for Solidarity
Slide 25: Healthcare Real Estate: Favourable Market Conditions
3. Healthcare Property Investment – French and European market update HEALTHCARE REAL ESTATE: FAVOURABLE MARKET CONDITIONS Positive underlying trends in France and Europe A RESILIENT, Rising concentration among French private operators in the healthcare sector (e.g. RGDS’s takeover bid for Capio)
Slide 26: Icade Santé, the Leader in Healthcare Real Estate in France
3. Healthcare Property Investment – Opportunities in the French and European healthcare markets ICADE SANTÉ, THE LEADER IN HEALTHCARE REAL ESTATE IN FRANCE SHARE OF NURSING INVESTORS PORTFOLIO ESTIMATED AS OF 12/31/2017 SEGMENT COUNTRY HOMES IN FRANCE The premium over French 10-year government bonds
Slide 27: Icade Santé's Portfolio as of September 30, 2018
3. Icade Santé – An exceptional 2018 ICADE SANTÉ’S PORTFOLIO AS OF SEPTEMBER 30, 2018 BREAKDOWN BY OPERATOR AS OF SEPTEMBER 30, 2018 115 facilities owned by Icade Santé – 11 partner operators (as a % of portfolio value) 4.2% Portfolio value: €4.4bn excluding duties – 100% occupancy 10.5% Regional gr
Slide 28: 2018 Highlights
3. Icade Santé – An exceptional 2018 2018 HIGHLIGHTS Continued diversification, strengthened market leadership in France First nursing home acquisition in July: 14 nursing homes for €189m, operated by Résidalya Acquisition of a post-acute care (PAC) facility in Montévrain for €18.3m, operated by
Slide 29: Completed in 2018: Key Growth Drivers
3. Icade Santé – An exceptional 2018 COMPLETED IN 2018: KEY GROWTH DRIVERS Atlantique medical hub – ELSAN Croix du Sud private hospital – CAPIO Reims-Bézannes Polyclinic – COURLANCY Saint-Herblain (Loire-Atlantique) Quint-Fonsegrives (Haute-Garonne) Bezannes (Marne) €75m investment incl. taxes €81m
Slide 30: Diversification into Nursing Homes
3. Icade Santé – An exceptional 2018 DIVERSIFICATION INTO NURSING HOMES For its first sale-and-leaseback transaction, Résidalya chose Icade Santé The operator’s motivation Icade Santé’s achievements Résidalya, a recognised name in the Acquisition of a real estate company that nursing home sector i
Slide 31: Goals and Potential Expansion over 5 Years in France
3. Icade Santé – An exceptional 2018 GOALS AND POTENTIAL EXPANSION OVER 5 YEARS IN FRANCE Consolidating Icade Santé’s position as the leading healthcare REIT in France Continue investments in Capitalise on its leading Reinforce partnerships Design tomorrow’s the nursing home sector position • Given
Slide 32: International Diversification: Favourable Demographics
3. Icade Santé – Opportunities in the European healthcare market (1/2) INTERNATIONAL DIVERSIFICATION: WHY? FAVOURABLE DEMOGRAPHICS Population: 82.7m Population: 67.1m Seniors over 75: 11.2% (9.2m) Seniors over 75: 9.2% (6.2m) 2030 estimate: 12% (10.3m) 2030 estimate: 13% (8.8m) GERMANY Bed-to-popula
Slide 33: International Diversification: Attractive Yields Outside of France
3. Icade Santé – Opportunities in the French and European healthcare markets (2/2) INTERNATIONAL DIVERSIFICATION: WHY? NURSING HOMES: ATTRACTIVE YIELDS OUTSIDE OF FRANCE 2012 2017-2018 GERMANY GERMANY FRANCE FRANCE ITALY ITALY SPAIN SPAIN Yield ranges 7.5-8% 7-7.5% 6.5-7% 6-6.5% 5.5-6% 5-5.5% 4.5-5%
Slide 34: Goals and Potential Expansion over 5 Years in Europe
3. Icade Santé GOALS AND POTENTIAL EXPANSION OVER 5 YEARS IN EUROPE Making Icade Santé the leading healthcare REIT in Europe Investment objectives Investment ambitions • Benefit from higher yields than in France €1.5bn of international investments over 5 years • Investment opportunities related to
Slide 35: International Expansion: 1st Investment in Italy
INTERNATIONAL 3. EXPANSION: Icade Santé – An exceptional 2018 Piedmont nursing home a 180 beds and places 1st INVESTMENT IN ITALY – 9,400 sq.m Signing of the “NUMERIA” Project in Northern Italy for the off-plan purchase of a portfolio of 7 nursing homes – €112m including transfer taxes Veneto nursin
Slide 36: In Conclusion
3. Icade Santé IN CONCLUSION A positive operational dynamic A buoyant European with the successful implementation of two types of market with growth diversification (long-term care and international) potential for healthcare assets Continuing and consolidating Ambition for Increased concentration le
Slide 37: Property Development
PULSE (Saint-Denis, Seine-st-Denis) 4. PROPERTY DEVELOPMENT Revenue potential
Slide 38: A Resilient Residential Market Backed by Solid Fundamentals
4. Property Development – The residential property market A RESILIENT RESIDENTIAL MARKET BACKED BY SOLID FUNDAMENTALS Housing demand stimulated by demographic and social trends THE FRENCH POPULATION IS GROWING THE NUMBER OF HOUSEHOLDS IS RISING FASTER AND FASTER WITH AN INCREASING PROPORTION OF OLDE
Slide 39: A Positive Market Environment
4. Property Development – The residential property market AVERAGE PRICE OF A NEW APARTMENT A POSITIVE MARKET ENVIRONMENT (in €k) 265.7 258.3 An especially favourable retail lending market Pinel incentive scheme for individual investors extended until 2021 Q3 2017 Q3 2018 SRU law favourable to
Slide 40: The Customer Base Remains Diverse
4. Property Development – The residential property market THE CUSTOMER BASE REMAINS DIVERSE BREAKDOWN OF HOME SALES BY SEGMENT IN 2017 (source: FPI) The market has three main 3.48% customer segments: 21.74% Public (affordable rent housing…) 41.00% and private institutional investors (SCPIs/OPCIs…)
Slide 41: Update and Outlook of the Residential Market
4. Property Development – The residential property market UPDATE AND OUTLOOK OF THE RESIDENTIAL MARKET Impact of municipal elections Increasing construction cost and busy schedule for construction compagnies The medium-term trend remains strong thanks to solid market fundamentals... Slight increas
Slide 42: Icade Promotion: Significant Revenue Potential
4. Property Development – Revenue potential for Icade Promotion ICADE PROMOTION: SIGNIFICANT REVENUE POTENTIAL Office €1.3bn €5.5bn Residential €4.2bn REVENUE POTENTIAL FOR ICADE PROMOTION: €5.5bn AT THE END OF Q3 2018, INCLUDING €4.7bn TO BE RECORDED OVER THE NEXT 5 YEARS INVESTOR DAY NOVEMBER 26,
Slide 43: Residential Revenue Potential as High as €4.2bn
4. Property Development – Revenue potential for Icade Promotion RESIDENTIAL REVENUE POTENTIAL AS HIGH AS €4.2BN: 17,000 HOMES (IP’S SHARE) AT THE END OF Q3 2018 Development contracts won or other options excl. taxes, IP’s share €0.6bn Backlog excl. taxes, Over 2,600 units, IP’s share IP’s share €1.1
Slide 44: Versailles, the 9th Neighbourhood to Be Developed
4. Property Development – Revenue potential for Icade Promotion VERSAILLES, THE 9th NEIGHBOURHOOD TO BE DEVELOPED AND CREATED TERRES DE VERSAILLES BACKGROUND / ENVIRONMENT TIMELINE / BUDGET Following a procurement process launched by Start of development work: September 2019 the City of Versailles
Slide 45: Revenue Potential of €1.3bn in the Office Segment
4. Property Development – Revenue potential for Icade Promotion REVENUE POTENTIAL OF €1.3bn IN THE OFFICE SEGMENT (WITH CUSTOMERS FROM OUTSIDE THE GROUP) AND 325,000 sq.m (ICADE PROMOTION’S SHARE, EXCLUDING BACKLOG) Development contracts won or other options excl. taxes, IP’s share €0.6bn 198,000 sq
Slide 46: An Office Project in a Neighbourhood Undergoing Regeneration in Lyon
4. Property Development – Revenue potential for Icade Promotion AN OFFICE PROJECT IN A NEIGHBOURHOOD UNDERGOING REGENERATION IN LYON LYON VAULX-EN-VELIN: KARRÉ 2 BACKGROUND / ENVIRONMENT PROJECT MANAGER The project is located on the site of the former Rue Royale Architectes (Lyon) Kaeser factories T
Slide 47: Projects in Progress for Office and Healthcare Divisions
4. Property Development – Revenue potential for Icade Promotion PROJECTS IN PROGRESS: 223,000 sq.m FOR THE OFFICE INVESTMENT DIVISION + 38,000 sq.m FOR THE HEALTHCARE INVESTMENT DIVISION. ICADE PROMOTION ACTS AS DELEGATED PROJECT MANAGER Healthcare Property Investment 38,000 sq.m 15% The pipeline of
Slide 48: An Innovative Office Building: Saint-Denis Pulse
4. Property Development – Revenue potential for Icade Promotion AN INNOVATIVE OFFICE BUILDING SAINT-DENIS: PULSE BACKGROUND / ENVIRONMENT SCHEDULE This project for an eco-friendly office building fully Completion: Q4 2018 designed with a wood and concrete structure is located south of Place du Front
Slide 49: Expertise at the Service of Icade Santé
4. Property Development – Revenue potential for Icade Promotion EXPERTISE AT THE SERVICE OF ICADE SANTÉ REIMS BEZANNES: COURLANCY POLYCLINIC BACKGROUND / ENVIRONMENT PROJECT MANAGEMENT The Courlancy group chose the Bezannes Architect: Jean-Michel JACQUET development zone (ZAC) for its new healthcare
Slide 50: In Conclusion
4. Property Development IN CONCLUSION A Residential pipeline allowing Icade Promotion to be in line with market trends A project portfolio reflecting the investments made in innovation, With 586,000 sq.m to be developed, CSR and development Icade Promotion retains its position as one of the leading
Slide 51: Roadmap for Icade Promotion
4. Property Development ROADMAP FOR ICADE PROMOTION Attractive ROE (c.15%) and limited exposure (max. 10% of Group capital allocated) More significant expansion in Commercial Property Development Contribution to Group NCCF: >10% Solid medium-term fundamentals despite short-term headwinds URSSAF (Pon
Slide 52: Key Financial Stakes
YNFLUENCE SQUARE – BELVY TOWER (Lyon, Rhône) 5. KEY FINANCIAL STAKES
Slide 53: Portfolio: Mix Evolution and Growth
5. Key financials PORTFOLIO: MIX EVOLUTION AND GROWTH Dec 2015: €9.2bn (1) June 2018: €11.4bn (1) Ambition 2022: c.€13.5bn (2) Icade Santé Icade Santé Icade Santé 19% 21% ~ 25-30% Other 4% Offices 52% Other Offices Offices Business parks 3% (incl. business parks) (incl. business parks) 76% ~ 70-75%
Slide 54: How the 2019-2022 Plan Will Be Funded
6. Key financials HOW THE 2019-2022 PLAN WILL BE FUNDED Around €5bn Active asset rotation: of investments volume of disposals over 4 years x2 Support from Icade Santé’s shareholders in financing growth Value creation from the development pipeline Financial policy under control: and the land bank LTV
Slide 55: Summary: Key Indicators for 2019-2022
6. Key financials SUMMARY: KEY INDICATORS FOR 2019-2022 LTV ratio of around 40% Dividend NCCF CAGR: policy >90% of ~ +4.5% stable debt hedged INVESTOR DAY NOVEMBER 26, 2018 • 55
Slide 56: Conclusion
PORTES DE PARIS BUSINESS PARK (St-Denis, Aubervilliers, Seine-Saint-Denis) 6. CONCLUSION
Slide 57: Well Positioned for Profitable Growth
3. Icade Santé WELL POSITIONED FOR PROFITABLE GROWTH An attractive and diversified risk profile: profitable growth dynamic across our 3 business lines Buoyant Strong potential markets and from the development Ambition of creating Icade Promotion, pipeline the leading European a global player a favou
Slide 58: 2018 Guidance Confirmed
6. Conclusion 2018 GUIDANCE CONFIRMED Growth above 6% vs. 2017 reported 2018 Group i.e. growth above 7% NCCF per share vs. 2017 restated (1) 2018 dividend policy based on the change in NCCF per share 2018 Full Year Results: Monday, February 18, 2019 Note: based on 2017 Group NCCF per share restated
Slide 59: Appendices
BERCY-CHARENTON (Paris 12th district) APPENDICES
Slide 60: A Buoyant Rental Market in the Paris Region
Appendices – Office Property Investment HIGH LEVEL OF TRANSACTIONS OVER 5,000 SQ.M A BUOYANT RENTAL MARKET IN THE PARIS REGION AND SCARCITY OF NEW SUPPLY RESULT IN SUBSTANTIAL SPACE BEING PRE-LET RENTAL MARKET AT ITS HIGHEST LEVEL THANKS TO STRONG TRANSACTION ACTIVITY FOR UNITS OVER 5,000 SQ.M SUPPL
Slide 61: Investments Remain High in 2018
Appendices – Office Property Investment INTERNATIONAL ATTRACTIVENESS CONFIRMED WHICH BOOSTS INVESTMENT VOLUMES INVESTMENTS REMAIN HIGH IN 2018 FOR LARGE OFFICE DEALS HIGH LEVELS OF INVESTMENT SHOULD CONTINUE WITH €28BN EXPECTED Titre du graphique FOR THE FULL YEAR 40 AN ACTIVE OFFICE MARKET IN THE P
Slide 62: Robust Leasing Activity Since 2015
Appendices – Office Property Investment ROBUST LEASING ACTIVITY SINCE 2015 FINANCIAL OCCUPANCY RATE RENTAL INCOME ON A LIKE-FOR-LIKE BASIS (in %) (in %) Offices Bureaux Business parks Parcs d'affaires Office Total Property Foncière Tertiaire 92.5% 92.7% Investment total 1.9% 1.8% 91.1% 1.5% 1.5% 1.1
Slide 63: Capital Reinvested to Move the Portfolio Upmarket
Appendices – Office Property Investment CAPITAL REINVESTED TO MOVE THE PORTFOLIO UPMARKET OFFICE PROPERTY INVESTMENT: NET INVESTMENTS OFFICE PROPERTY INVESTMENT: PORTFOLIO MIX (in €bn) (% of fair value) 0.8 Other 5% Other 5% Business parks 1.0 Business parks 19% 0.7 30% 0.4 0.2 0.1 12/31/2015 06/30/
Slide 64: Development Pipeline as of 09/30/2018
Appendices – Office Property Investment DEVELOPMENT PIPELINE AS OF 09/30/2018 (1) Expected Yield on cost Type Estimated date of Floor area rental based on Total Remaining to % pre-let or Project name of works Type of property Location completion (sq.m) income fair value (2) invest. (3) be invested p
Slide 65: The Regional Market Remains Very Significant
Appendices – Office Property Investment THE REGIONAL MARKET REMAINS VERY SIGNIFICANT Titre du graphique ACTIVITY RISING CONSTANTLY OUTSIDE THE PARIS REGION SINCE 2013 Take-up in the 6 largest French cities outside Paris SUPPLY AND DEMAND IN MAJOR FRENCH CITIES Q1 Q2 Q3 Q4 Second-hand 1-year supply N
Slide 66: Developments in Major Cities: Toulouse, Marseille
Appendices – Office Property Investment DEVELOPMENTS IN MAJOR CITIES Toulouse Marseille Blagnac Balma-Gramont Latécoère Le Castel Euro Sud-Ouest Euromed Eko Active Le Castel Latécoère Eko Active Montaudran Aérospace Quai Rive-Neuve Basso Combo Quai Rive-Neuve Latécoère’s new headquarters will be loc
Slide 67: Developments in Major Cities: Bordeaux, Lyon
Appendices – Office Property Investment DEVELOPMENTS IN MAJOR CITIES Bordeaux Lyon Park View Bassins à flot Park View Lafayette Factor E Carré de Soie Mérignac Euratlantique Mériadeck Part-Dieu Factor E Confluence Orianz Orianz Gerland Lafayette before Lafayette after 2 office buildings in the Quai
Slide 68: Outlook for Healthcare Spending in France
Appendices – Healthcare Property Investment OUTLOOK FOR HEALTHCARE SPENDING IN FRANCE Higher 2019 National Healthcare Spending Limit (ONDAM) set at €200bn +2.5% vs. +2.3% normally targeted over five years to assist in implementing the strategy “My Health 2022” as early as next year, which is desig
Slide 69: The Healthcare Property Market in France and Europe
Appendices – Healthcare Property Investment THE HEALTHCARE PROPERTY MARKET IN FRANCE AND EUROPE CONCENTRATION OF HEALTHCARE OPERATORS REAL ESTATE INVESTORS ARE LOOKING ABROAD Ramsay Générale de Santé launched a takeover bid for the Swedish France group Capio, which is active throughout Europe, for
Slide 70: Completion of 3 New Facilities: Nantes
Appendices – Healthcare Property Investment COMPLETION OF 3 NEW FACILITIES Elsan and Icade Santé build a medical hub in Nantes Objective Construction To develop leading multi-disciplinary HEALTHCARE healthcare facilities 2015–2019: refurbishment and extension of the Atlantique Polyclinic facility, o
Slide 71: Completion of 3 New Facilities: Toulouse
Appendices – Healthcare Property Investment COMPLETION OF 3 NEW FACILITIES Capio and Icade Santé join forces to develop the Croix du Sud private hospital in Toulouse Objective Construction To offer high-quality care pathways HEALTHCARE in modern, first-rate facilities To improve short-term outpa
Slide 72: Completion of 3 New Facilities: Reims
Appendices – Healthcare Property Investment COMPLETION OF 3 NEW FACILITIES Icade Santé is Courlancy’s real estate partner helping to reorganise its healthcare services in Reims Objective Construction To create a major hub HEALTHCARE serving the entire region 2013–2018: construction of the Strategy R
Slide 73: A Sound Business Model and a Clear Strategy
Appendices – Healthcare Property Investment A SOUND BUSINESS MODEL AND A CLEAR STRATEGY Launch Consolidated leading position Expanding of Icade Santé in the French acute care (MSO) sector abroad BUSINESS MODEL 2007 2012 2017 2018 FUNDAMENTALS First capital increase Diversification into nursing homes
Slide 74: Innovation Is Central to Our Projects
Appendices – Property Development INNOVATION IS CENTRAL TO OUR PROJECTS TOULOUSE: WOOD’ART – LA CANOPÉE BACKGROUND / ENVIRONMENT TIMELINE / BUDGET A 76% wood-based project Completion: Q3 2020 Rehabilitation of industrial wasteland Revenue: €33m excl. taxes and biodiversity generation Icade Promo
Slide 75: Converting Offices into Homes
Appendices – Property Development CONVERTING OFFICES INTO HOMES STRASBOURG: ACADÉMIE 35 BACKGROUND / ENVIRONMENT TIMELINE / BUDGET Building complex built in the 1980s originally Completion ranges from late 2019 for Phase 1 used for office space. It features an comprising 35 housing units to mid-20
Slide 76: Winning Bid for a Mixed-Use Development Project
Appendices – Property Development WINNING BID FOR A MIXED-USE DEVELOPMENT PROJECT PARIS, 12th DISTRICT: BERCY CHARENTON BACKGROUND / ENVIRONMENT PROJECT OWNER Icade and Icade Promotion were the winners of the Icade’s Office Property Investment Division “Reinventing Paris” call for projects and Icade
Slide 77: CSR: High-Priority Issues and New Commitments
Appendices – CSR CSR: 5 HIGH-PRIORITY ISSUES AND NEW COMMITMENTS TO MEET THE PLANET’S SOCIAL AND ENVIRONMENTAL CHALLENGES ENVIRONMENTAL SOCIETAL A €600m 1 Impact on climate change Green Bond 4 Territorial cohesion and inclusion -45% in CO2 intensity between 2015 and 2025 Systematising local hiri
Slide 78: Innovation
Appendices – Innovation INNOVATION Introduction of new offerings: progress report Update on the innovation initiative July 2018: 4 months later 2 new offers launched Launch for 3 development projects: 2018 Innovation Fund • Lyon 8 13 new projects financed since the start of Tool to co-design homes •