Icade: confident about its CFNC targets for 2024

(CercleFinance.com) - On the basis of its 30 September results and forecasts, Icade expects annual net current cash flow (NCFC) per share to be at the upper end of its guidance range, between E2.
75 and E2.90 for strategic activities and between E3.55 and E3.70 overall.

For the first nine months of the year, the real estate group claims revenues to be virtually stable (-0.2%) at just over E1.1bn, with 3.1% growth in rental income from real estate activities, but a 1.1% decline in development sales.

Icade explains that its rental income mainly benefited from the indexation effect, and reports 'better oriented commercial indicators in development (reservation volume up +9.6%) in a still uncertain market.

In the third quarter, good rental momentum and the disposal of four well-positioned office assets demonstrate the attractiveness of the property company's portfolio, it adds.


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