(AOF) – Icade raised its 2021 objectives on the occasion of its investor day. The real estate group is targeting a 2021 net current group cash flow per share up by around 8% excluding the effect of 2021 disposals compared to around 5% previously. The 2021 dividend is still expected to increase by 3%. This year, 4 core assets have been sold to date for 507 million euros, with an average premium on the value of the portfolio of nearly 11%.
Regarding the Property Development business, the group confirmed its growth path for 2025: target economic turnover of 1.4 billion euros and margin of 7%.
The CFNC 2021 for Foncière Santé will be slightly higher than 251 million euros. The volume of investments is expected at 600 million this year (including 500 million euros disbursed over the year), a figure higher than the guidance announced in July of 450 to 500 million euros. The investment objective has been confirmed of 3 billion euros by 2025, 4 target markets: France, Italy, Germany and Spain.
A “liquidity event is still on the roadmap,” said Icade, which postponed the start of October the marketing of part of Icade Santé’s capital.
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