(News Bulletin 247) – Icade unveiled half-year results on Monday deemed ‘mixed’, showing both a decline in its rental income and a decline in its occupancy rate over the period.
The property company saw its rental income fall by 2.1% to 181 million euros over the first six months of the year, a decline which it explains by the disposals of assets that took place in 2022, then in 2023.
Its financial occupancy rate fell to 86.5% at the end of June 2023, also impacted by the momentum of the recent disposal plan.
In its press release, Icade says it is currently working on a new strategic plan, with the objective of providing a new roadmap at the end of 2023 or the beginning of 2024 in order to give medium-term visibility to its shareholders.
Following the finalization of the first stage of the sale of its former subsidiary Icade Santé, the group plans to pay a minimum exceptional dividend of 2.54 euros per share.
The dividend for the 2023 financial year is expected to increase by more than 10% compared with the dividend received for the 2022 financial year.
“The details provided concerning the distribution of dividends for 2023 bring some clarity, but the general outlook remains quite uncertain at this stage”, deplore this morning the analysts at Degroof Petercam, who say they have placed their recommendation on the title “under review”.
Following this half-yearly publication, the Icade share lost 1.5% on Monday morning, among the largest falls in the SBF 120 index, bringing the company’s market capitalization to nearly 2.81 billion euros.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
