|
contents | business | |||||||||
| Icade significantly improves results in 2006 French property developer Icade said that it achieved a consolidated earnings of 1,327.2 million Euros for the full year of 2006. Icade continued its double figure growth 2006 due to rents holding up well and strong development in housing development. Icade generated an EBITDA of 262.3 million Euros, 30.6% up on 31st December 2005. EBITDA margin therefore reached 19.8%. The current net cash flow is 53.1% up on 31st December 2005, and amounts to 195 million Euros. The value of the assets of Icade's five property companies (Icade Patrimoine, Icade Emgp, Icade Foncière des Pimonts, Icade Foncière Publique and Icade Reit), excluding duty as at 31st December 2006, amounts to 4.4 billion Euros, 41% up in comparison with 31st December 2005. Over the period 2006-2009 and in the light of what was done in 2006, Icade confirms its earnings (8 to 10% on average) and margin growth targets by 2009 (19% EBITDA margin) announced on the occasion of its flotation. write your comments about the article :: © 2007 Construction News :: home page |