ICADE - PR - FY 2024 guidance revised

PRESS RELEASE

Paris, November 29, 2024, 6 p.m.

Icade revises its 2024 Group Net Current Cash Flow guidance upwards to include an interim dividend to be paid by Præmia Healthcare

Following a decision by the Board of Directors^[1] of Præmia Healthcare to pay an interim dividend for the financial year 2024, Icade will receive c. €12.3m by the end of the year from its remaining stake in Præmia Healthcare.

As a result, Net Current Cash Flow from discontinued operations, comprising dividends from Icade’s remaining stake in the Healthcare business and interest income on a shareholder loan granted to Icade Healthcare Europe,has been revised upwards. It is now estimated at €1.03 per share for 2024 (vs. c. €0.80 per share previously).

Icade now expects Group Net Current Cash Flow for 2024 to be towards the top of the revised guidance range of €3.78 to €3.93 per share. This includes:

•      Net Current Cash Flow from strategic operations, expected to be towards the top of the

€2.75 to €2.90 per share guidance range (unchanged from previous guidance); and

•      Net Current Cash Flow from discontinued operations of €1.03 per share.  

ABOUT ICADE

Icade is a full-service real estate company with expertise in both property investment (portfolio worth €6.6bn as of 06/30/2024 – 100% + Group share of joint ventures) and property development (2023 economic revenue of €1.3bn) that operates throughout France. Icade has forged long-term partnerships to respond to emerging trends in the industry. It has made climate issues and the preservation of biodiversity central to its business model to reinvent real estate and contribute to more sustainable cities. It is listed as an “SIIC” on Euronext Paris and its leading shareholder is the Caisse des Dépôts Group.

The text of this press release is available on the Icade website: www.icade.fr/en