on ICADE (EPA:ICAD)
Icade Reports Steady Revenue as of September 30, 2024
Icade, a leading real estate company, announced stable revenue figures as of September 30, 2024. The Property Investment Division reported robust leasing activity with around 51,000 sq.m signed or renewed in Q3 2024, resulting in a 3.6% growth in gross rental income on a like-for-like basis. This growth is largely attributed to index-linked rent reviews.
The Property Development Division showed improved indicators, with a 9.6% increase in order volume despite market uncertainties. Asset disposals also highlighted the division's attractiveness, achieving prices above appraised values.
Icade CEO Nicolas Joly noted that revenue stability was achieved thanks to rental income and secured property development revenues from 2023. Despite an uncertain environment, the company predicts its 2024 Group Net Current Cash Flow to be at the top of the €3.55–3.70 per share guidance range.
R. P.
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