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| Icade reports first half results Icade, a major actor in real estate in France, made a consolidated net turnover of 642.3 million Euros as at 30th June 2007, split between housing (63%), commercial property (24%) and public and health (13%), compared with 650 million as at 30th June 2006. Before neutralising synergies, turnover was 3.2% up on the first half of last year. Over the same period Icade generated a consolidated EBITDA of 125.2 million Euros as at 30th June 2007, an increase of 4.2% in comparison with 30th June 2006. This increase is primarily due to the excellent performance of all property investment companies (+12.9 million Euros) and the recovery of service activities (+11.7 million Euros). As at 30th June 2007, earnings from disposals stood at 96.3 million Euros against 9.5 million Euros as at 30th June 2006. This mainly consists of disposals of Icade Patrimoine housing including 95 units sold individually at an average price of 1, 781 per m and 2, 431 units in blocks sold at an average price of 751 per m. Net current cash-flow is up 6.6% in comparison with 30th June 2006 and stands at 83.8 million Euros due to the virtually equivalent rise in EBITDA over the same period. The asset value of Icade's property investment companies stands at 5,136 million Euros in terms of value excluding charges against 4,387.9 million Euros at the end of 2006, i.e. a variation of 748.1 million Euros over the first half of 2007 (+17%). write your comments about the article :: 2007 Construction News :: home page |