Investor Presentaiton
APPENDICES - Q1 2022 RESULTS - SOLID AND AGILE TO MANAGE NEW STAKES
SOLID DEBT INDICATORS
Average debt maturity stable at 5.9 years
Very attractive cost of debt (-19 bps vs. 12/31/2020)
ICADE
7
1,60%
6
6.4
6.4
O 5.9
1,50%
1.55%
1.54%
5.9
5
1,40%
1.48%
4
1,30%
1.29%
3
1,20%
2
2018
1,10%
2019
2020
2021
2018
2019
2020
2021
Increasing ICR above 6x
6,5x
6,0x -
6.0x
5,5x
5.8x
5.4x
LTV ratio incl. duties stable at 40.1%
Bank covenant (1) (excl. duties): <60%
60,0%
O 6.0x
50,0%
40,0%
40.1%
40.1%
37.9%
38.0%
30,0%
5,0x
4,5x
20,0%
4,0x
2018
2019
2020
2021
2018
2019
•
Lowering the cost of debt while keeping the average debt maturity stable
Stable LTV at 40.1% in a better performing market (resilient valuations)
(1) Covenant at 60% since Q4 2020
2020
2021
Strong investment grade profile with
credit rating of Icade and Icade Santé
BBB+, stable outlook
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