News – FR – Icade: the stock climbs after robust annual results

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(CercleFinancecom) – The Icade share signs the biggest increase in the SBF 120 on Monday on the Paris Bourse after the publication of annual results well received by investors

For fiscal year 2020, the real estate specialist reported this morning a limited decline in turnover of 5.4% to 1.4 billion euros for a net current cash flow at 358 million euros, down by 7.9%, above the forecasts provided in October

In a press release, its CEO Olivier Wigniolle evokes ‘robust’ annual results in a context of ‘exceptional’ health and economic crisis, a performance which he believes demonstrates the solidity of the group’s fundamentals and the relevance of its diversified model

Despite the abrupt end of construction, demand remains strong, argues the property company, whose reservations and sales are growing by 8% and 15% respectively from one year to the next.

If the 2020 dividend is expected to remain stable, at 4.01 euros per share, that for fiscal year 2021 is expected to increase by 3%, on the basis of net current cash flow also expected to increase by ‘about 3% this year

The stock gained nearly 5% at the start of the day on Monday, while the SBF 120 dropped more than 1% Since the start of the year, however, the group has lost nearly 12% of its stock market value.

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Icade, SBF 120, Exchange