Icade, a prominent French real-estate firm, has announced a notable increase in revenue for the first nine months of the year. This positive development has led the company to confirm its guidance for the remainder of the year, providing a promising outlook for investors.
According to their recent statement, Icade generated a total revenue of €1.02 billion ($1.08 billion) during the first three quarters of the year. This represents a substantial 3.8% increase compared to the same period last year. The growth can be attributed to the higher property-development revenue, which saw a remarkable 4.9% rise to reach €731 million.
Maintaining a strong focus on their financial targets, Icade has reaffirmed its net current cash flow per share target for 2023. The company aims to achieve a range between €2.95 and €3.05 after considering disposals.
Additionally, Icade has set ambitious plans for dividend growth, projecting an increase of more than 10% for 2023 compared to the previous year. Alongside their regular dividends, the company has also expressed its intention to distribute a special dividend of €2.54 per share in 2024. This special dividend is a result of gains generated by the sale of healthcare-property assets.
With these impressive results and forward-looking strategies, Icade is showcasing its steadfast commitment to delivering value to its shareholders and positioning itself as a reliable player in the real-estate market.