Icade published its H1 17 figures. Net recurrent result at €145.8m is up by 7.1% yoy. EBITDA up by 3.3% yoy, at €251.2m. LTV stood at 39.4%, up by 150bp compared to FY16. The portfolio value at €9.9bn has increased by 1.6% over six months (c. 42% in French offices, 35% in Business parks and 21% in the healthcare segment). The average cost of debt came to 1.68% for the first half of 2017, down by 50bp compared with FY16. Management continues to see a positive FY17.