Icade: H1 revenue up 33%
(CercleFinance.com) - Icade today presented excellent H1 2021 results.
Revenue reached 830 million euros, up 33% from H1 2020 (and +22% compared to H1 2019).
Meanwhile, net income, group share came in at 188.1 million euros, compared with just 5.2 million euros at 30 June 2020.
"The Property Development Division continued its recovery, with revenue up +79%, driven by the residential business, in line with the roadmap to 2025. The Healthcare Property Investment Division also confirmed its potential with a 5.6% increase in rental income and continued investment in France and abroad," said Olivier Wigniolle, Icade's Chief Executive Officer.
In light of these results, Icade has raised its 2021 guidance: 2021 Group Net Current Cash Flow/share is expected to rise by 6% excluding the effect of 2021 disposals. In addition, it expects to increase its 2021 dividend by 3%.
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