Icade Sa · EURONEXT:ICAD
Icade Sa — Icade Sa Ord — Q1 2025 Earnings Presentation
15 slides from Icade Sa's earnings presentation, Apr 17, 2025
Slide 1: Results as of March 31, 2025
Results as of March 31, 2025 Thursday, April 17, 2025 PULSE (Saint-Denis, Seine-Saint-Denis)
Slide 2: Disclaimer
DISCLAIMER This document (the “Presentation”) may contain information, opinions and certain forward looking statements that reflect Icade’s management’s current views and expectations with respect to future events and financial and operational performance of the Group. Because these forward looking
Slide 3: Agenda
A G E N DA 1. Q1 2025 Key takeaways 2. Performance of business lines 3. Financial results 4. 2025 outlook Results as of March 31, 2025 I Thursday, April 17, 2025 3
Slide 4: Q1 2025 Key Takeaways
1. Q1 2025 KEY TAKEAWAYS TIME (Saint-Denis, Seine-Saint-Denis) Results as of March 31, 2025 I Thursday, April 17, 2025 4
Slide 5: Q1 2025 – Key takeaways
1. Q1 2025 Key takeaways Q1 2025 – Key takeaways Property Investment: c. 50,000 sq.m signed or renewed in Q1 2025 (emblematic signature on Pulse); stable rental income (LfL +0.5%); resilient occupancy rate on well-positioned offices (88.4%) Property Development: growth in orders in a still complex e
Slide 6: Performance of Business Lines
PERFORMANCE OF 2. BUSINESS LINES DESTINATION GAVY (Saint-Nazaire, Loire-Atlantique) Results as of March 31, 2025 I Thursday, April 17, 2025 6
Slide 7: Property Investment: good leasing activity in Q1 2025
2. Performance of business lines - Property Investment Good leasing activity in Q1 2025 … and an emblematic signature Dynamic leasing activity… with the Seine-Saint-Denis Departmental Council c. 50,000 sq.m signed or renewed €12.0m PULSE Secured annual headline rental income c. 29,000 sq.m 9.1 years
Slide 8: Property Development: positive signals in residential activity
2. Performance of business lines - Property Development Positive signals in residential activity Positive momentum in residential development… 697 units, +16% YoY €209m, +22% YoY in volume terms in value terms … supported by individual orders… … and institutional bulk orders 20% 28% 28% 432 units 9%
Slide 9: Financial Results
FINANCIAL 3. RESULTS ORIGINE (Nanterre, Hauts-de-Seine) Results as of March 31, 2025 I Thursday, April 17, 2025 9
Slide 10: Slower revenue growth in both business lines in Q1 2025
3. Financial results Slower revenue growth in both business lines in Q1 2025 Change 3m-2025 (in €m and on a 100% basis) 03/31/2025 03/31/2024 vs. 3m-2024 (%) Gross rental income from Property Investment 93.9 93.7 +0.2% Property Development revenue 228.5 223.3 +2.3% Other revenue 3.6 4.9 -26.4% Total
Slide 11: Stable gross rental income in Q1 2025
3. Financial results - Property Investment Stable gross rental income in Q1 2025 (in €m) +€0.2m (+0.2%) 93.7 +6.3 +3.0 93.9 (2.0) (0.3) (6.9) Rental income 2023 Negative reversion on renewals Departures Indemnities Index effect Other Rental income 2024 Rental income Negative reversion Tenant departu
Slide 12: Decrease in property development economic revenue
3. Financial results - Property Development Decrease in property development economic revenue 3-month economic revenue(1) -€5.7m (-2.2%) +19.5 +15.8 259.3 253.6 35.9 (32.0) (9.0) 25.2 223.3 228.5 Q1 2024 economic Residential (2) Q1 2024 Residential development development Tolbiac sale Tolbiac sale C
Slide 13: 2025 Outlook
2025 OUTLOOK 4. 29-33 CHAMPS-ELYSÉES (Paris, Ile-de-France) Results as of March 31, 2025 I Thursday, April 17, 2025 13
Slide 14: FY2025 guidance unchanged
4. 2025 outlook FY2025 guidance unchanged 2025 Guidance Group NCCF per share of €[3.40 – 3.60] Of which c. €0.67/share from non-strategic operations, excluding impact of disposals(1) (1) On the hypothetical basis of a stable ownership of Præmia Healthcare (21.67% after the closing of €29.8m swap of
Slide 15: Financial agenda
4. 2025 outlook Financial agenda Next key events 2025 General shareholders' meeting May 13, 2025 Remaining balance of dividend Ex-dividend on July 1st, 2025 (€2.15 gross per share) Payment on July 3, 2025 2025 Half-Year Results July 23, 2025 Results as of March 31, 2025 I Thursday, April 17, 2025 15