Icade stock reports a EUR 155.9 million first-half loss

Published on 09/28/2026 at 10:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Icade stock was trading at EUR 16.47 on September 28, 2026, with a EUR 1.2 billion market capitalization. Half-year revenue fell 4.70 percent to EUR 600.8 million.

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Icade stock (ISIN FR0000035081) was trading at EUR 16.47 on Euronext Paris on September 28, 2026, at 10:37 a.m. CEST, unchanged from the prior close. The latest half-year figures show EUR 600.8 million in revenue and a net loss of EUR 155.9 million.

Half-year loss weighs on results

According to Ideal Investisseur in its September 2026 coverage, first-half 2026 revenue fell 4.70 percent to EUR 600.8 million. EBITDA was negative EUR 106.0 million, producing an EBITDA margin of 17.40 percent, while net income was negative EUR 155.9 million.

The revenue decline and the loss create a clear contrast with the operating scale of the property group. Icade also reported a 3.10 percent decline in the value of its property portfolio on a like-for-like basis, including a 2.80 percent decline for office assets.

Housing partnership adds an operating angle

As Ideal Investisseur reported on September 25, 2026, Icade Promotion and Tonus Territoires expanded their cooperation to target 750 social and intermediate housing units over three years. The announcement gives investors a concrete development metric alongside the weaker half-year earnings picture.

Icade's finance page lists the 2026 half-year results presentation dated July 22, 2026, and the company confirmed full-year CFNC guidance of EUR 2.90 to EUR 3.10 per share in the reported half-year context. The range keeps cash flow generation at the center of the investment case while property values remain under pressure.

Analyst target stays near the stock

Goldman Sachs analyst Jonathan Kownator maintained a Sell rating and set a EUR 16.70 price target on September 8, 2026, according to The Globe and Mail. That target stands 1.40 percent above the September 28 price, while the same report cited a consensus Hold rating and an average target of EUR 21.88.

Stock trades in a wide yearly range

Icade's September 28 session range was EUR 16.43 to EUR 16.57, with volume of 17,618 shares. Its 52-week range was EUR 16.38 to EUR 22.76, leaving the traded price 27.68 percent below the yearly high.