Icade S.A. (CDMGF)
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Icade (CDMGF) Q2 2025 Earnings Call Transcript
Icade (OTCPK:CDMGF) Q2 2025 Earnings Conference Call July 24, 2025 3:00 AM ET Company Participants Bruno Valentin - Corporate Participant Nicolas Joly - Chief Executive Officer Conference Call Participants Aakanksha Anand - Citigroup Inc., Research Division Ana Escalante Taborga - Morgan Stanley, Research Division Florent Laroche-Joubert - ODDO BHF Corporate & Markets, Research Division Jonathan Sacha Kownator - Goldman Sachs Group, Inc., Research Division Michael Finn - Green Street Advisors, LLC, Research Division Stéphane Afonso - Jefferies LLC, Research Division Valerie Jacob Guezi - Sanford C. Bernstein & Co., LLC.
Icade Remains A Trap Following Recent Earnings
Icade's low valuation and high-dividend yield are justified by fundamental issues, particularly its focus on second-tier office locations in Paris, unlike its peer Gecina. Icade's gross asset value declined by 6.4% YoY, and its high vacancy rate of 15.3% highlights weak demand for its properties. Despite a solid balance sheet, Icade's dividend is likely to be cut significantly due to lower proceeds from healthcare asset sales.
Icade (CDMGF) Q1 2025 Earnings Call Transcript
Icade (OTCPK:CDMGF) Q1 2025 Earnings Conference Call April 17, 2025 4:00 AM ET Company Participants Nicolas Joly - Chief Executive Officer Conference Call Participants Veronique Meertens - Kempen Stephane Afonso - Jefferies Samuel King - BNP Paribas Exane Eleanor Frew - Barclays Neeraj Kumar - Barclays Florent Laroche-Joubert - ODDO BHF Operator Hello and welcome to the Conference Call Icade Results as of March 31st, 2025. Please note this conference is being recorded and for the duration of the call, your lines will be on listen-only.
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Icade S.A. Profile
| Diversified REITs Industry | Real Estate Sector | Mr. Nicolas Joly CEO | OTC PINK Exchange | FR0000035081 ISIN |
| FR Country | 969 Employees | 1 Jul 2025 Last Dividend | - Last Split | - IPO Date |
Overview
Icade is a premier real estate company based in France, specializing in commercial property investments and property development. With a commercial portfolio valued at €6.8 billion on a full consolidation basis as of December 31, 2023, and economic revenue from property development reaching €1.3 billion in 2023, Icade stands as a significant player in the French real estate market. The company is known for its forward-thinking approach, establishing long-term partnerships to stay ahead of industry trends. Emphasizing the importance of addressing climate issues and preserving biodiversity, Icade incorporates these concerns into its business model, aiming to drive the transformation of real estate towards creating more sustainable urban environments. A publicly traded company, Icade is listed under the "SIIC" status on Euronext Paris, with its primary shareholder being the Caisse des Dépôts group, highlighting its solid financial foundation and strategic partnerships.
Products and Services
- Commercial Property Investment
- Property Development
Icade's commercial property investment segment focuses on acquiring, managing, and optimizing a diverse portfolio of commercial real estate assets across France. With a portfolio worth approximately €6.8 billion, the company has established itself as a major investor in the commercial property market, emphasizing long-term value creation and sustainability in its investment strategy.
The property development arm of Icade is dedicated to designing, developing, and marketing various types of real estate projects, including residential, office, and mixed-use developments. In 2023, the company reported economic revenue of €1.3 billion from its development activities, underscoring its effective approach to meeting market demands while prioritizing sustainability and innovation in its projects.
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