Activity for the 1st quarter of 2012
Turnover in the 1st quarter of 2012 for Property Investment was up 12% on Q1 2011 but that for Property Development was down 8%. The consolidated turnover for the 1st quarter was down 3% and stands at 343.5 millions euros.
Property investment division
- 15% increase in the sales of the Commercial Property Investment Division thanks to acquisitions in 2011 and lettings completed in 2011 and at the start of 2012 ;
- Delivery of the fifth and final building in the Metropolitan operation in Villejuif, leased in its entirely to LCL (12,000 m² out of a total of 80,000 m²) ;
- Delivery of the "Le Beauvaisis building" (12,000 m²) located in The Parc du Pont de Flandre. This HQE certified building, currently up for lease, was the first building in Paris to be awarded the BBC label for renovation ;
- In addition, opening up the capital of Icade Santé up to 250 million euros, thereby allowing Icade to continue to develop its subsidiary company specialising in the ownership of clinics.
Property development division
- In light of stricter pre-sale marketing requirements, the number of lots for development was down 43% compared to Q1 2011 and turnover for this division fell by 8% ;
- 5% fall in the sales of the Commercial Property Development business, mainly due to delivery of the university hospital in Saint-Nazaire during the quarter ;
- 2,4% increase in the backlog of the Residential Property Development business (905 million euros) and 1,4% increase in the backlog of the Commercial Property Development business (937 million euros) compared to 31 december 2011.
- Sale, in February 2012, of Icade Residences Services, a company specialising in the management of student housing ;
- Taking into account the business sales completed during 2011 and at the start of 2012, and the slow performance of the consultancy business during the quarter, a 21% fall in the sales of the Services Division.