- Property Investment:
Leasing activity:
- Office Property Investment: Rental income up 1.7% on a like-for-like basis
- Healthcare Property Investment: Rental income soars by 10.5% on a reported basis
Asset rotation:
- Two significant disposals in the office segment for €1.1 billion, +12.5% above NAV;
- Investment in Office Property Investment: nearly €380 million;
- The Healthcare Property Investment Division continues to expand with nearly €295 million invested so far this year, including:
International: New transactions in Italy, including the acquisition of 7 nursing homes signed in October with healthcare company Sereni Orizzonti, bringing total investments to €51 million in this country since the beginning of the year;
France: Acquisition of 12 new medium- and long-term care facilities for €191 million.
- Property Development:
- Business indicators in line with H1: revenue at €591 million (-12.4% for the residential segment)
- Residential backlog up (+14.9%)
- FINANCING: Icade Santé rated BBB+ by S&P and upcoming inaugural bond issuANCE
- 2019 guidance confirmed:
- Group net current cash flow per share should at the very least remain stable, excluding the impact of 2019 disposals
- 2019 dividend: c.+4.5%
