ICADE SANTE (EPA:ICSAA) ICADE SANTÉ – 2019 FULL YEAR RESULTS

Transparency directive : regulatory news

17/02/2020 07:15

PRESS RELEASE
Issy-les-Moulineaux,
February 17, 2020, 7:15 a.m.

                        ICADE SANTÉ - 2019 FULL YEAR RESULTS

In November 2019, Icade Santé issued an inaugural EUR500 million bond with an
annual coupon of 0.875%. These bonds are admitted to trading on the Euronext
Paris exchange (ISIN: FR0013457967).
As a result, Icade Santé is publishing its annual consolidated financial
statements prepared in accordance with IFRS for the first time. They are
available on the Company's website: https://icade-sante.fr

2019 was marked by strong portfolio growth in France thanks to stepped-up
investments, with total acquisitions of almost EUR400m (incl. duties). This
included continued diversification into the nursing home segment, with the
notable acquisition of a portfolio of    12 assets mainly comprising long-term
care facilities for EUR191m in July 2019, followed by the large-scale
acquisition of the Confluent private hospital in Nantes in November 2019 for
EUR194m.
As of December 31, 2019, Icade Santé owned 130 healthcare facilities,
including 107 short- and medium-term care facilities and      23 nursing homes
in France.

Leasing activity was strong at the end of 2019, with an 11.8% increase in
gross rental income to EUR269.5m (EUR241.0m as of December 31, 2018).

Adjusted EPRA earnings stood at EUR213.2m, up +11.6% on 2018, mainly due to
the acquisitions and completions in 2018 and 2019.

Key figures are as follows:
                                 12/31/2019   12/31/2018    Change 2019
                                                            vs. 2018 (%)
Gross rental income (in EURm)        269.5         241.0        +11.8%
Adjusted EPRA earnings (in EURm)     213.2         191.0        +11.6%
Consolidated net profit               89.3          64.8        +37.7%

                                 12/31/2019   12/31/2018    Change (%)
EPRA triple net asset value
per share                          EUR84.3         EUR82.0         +2.8%
LTV ratio                            33.9%           31.7%         +2.2%
ICR                                  7.72x           7.55x         0.17x

Icade Santé's IFRS consolidated financial statements for the year ended
December 31, 2019 were approved by the Chairman of the Company on February 14,
2020. The Company's Statutory Auditor has issued a report on these
statements.

ABOUT ICADE SANTÉ
With a  portfolio of EUR5 billion (on a full consolidation basis) as of
December 31, 2019, Icade Santé is the leading healthcare property investor in
France. A 56.84% owned subsidiary of the Icade Group, Icade Santé draws on its
proven expertise, its long-term shareholders as well as its extensive knowledge
of the real estate value chain. Since 2017, Icade Santé has pursued a strategy
of diversification into the nursing home segment.

                                   CONTACTS
Anne-Sophie Lanaute
Head of Financial Communication and Investor Relations
+33 (0)1 41 57 70 29
anne-sophie.lanaute@icade.fr

Charlotte Pajaud-Blanchard
Press Relations Manager
+33 (0)1 41 57 71 19
charlotte.pajaud-blanchard@icade.fr

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