Earnings Release • Oct 3, 2022
Earnings Release
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Quarterly financial information – Monday 3 rd October 2022 – 17.45 pm
• €165 million rental income target confirmed
| €m | Financial year 2022 |
Financial year 2021 |
Changes |
|---|---|---|---|
| nd quarter (April - 2 June) |
41.0 | 38.0 | + 8% |
| er trimestre (Jul. 3 - Sept.) |
41.2 | 40.8 | + 1% |
| Total (Jan. - Sept.) | 122.9 | 117.0 | +5% |
Since the beginning of the year, ARGAN, the French real estate company specialising in the development and rental of PREMIUM warehouses, recorded rental income of €123m, up +5% compared with the same period last year. This strong growth is mainly due to the full-year effect of rents generated by 2021 developments and the rents coming from the six new deliveries of 2022.
The target for rental income of €165 million will therefore be met. Developments continue to drive rental income growth with an average yield of 6% for the deliveries in 2022.
ARGAN has continued its grow with the delivery of three new logistics platforms certified "BREEAM Very Good", all three are let with a 12-year firm lease.
They represent a total surface area of 47,000 sq.m, including 18,000 sq.m in Caen (14) for LEGALLAIS, 14,000 sq.m in Saint-Jean-de-la-Neuville (76) for DIDACTIC and 15,000 sq.m in Compans (77) for Colis Privé.
ARGAN is the only French real estate company specialising in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT.
As at 30 June 2022, ARGAN's portfolio amounted to 3.3 million sq.m, comprising approximately 100 warehouses located exclusively in France, valued at €4.0 billion. ARGAN is listed on Compartment A of Euronext Paris (ISIN FR0010481960 - ARG) and is included in the CAC All-Share and IEIF SIIC France indices. The company opted for the listed real estate investment companies (SIICs) tax regime on 01 July 2007. www.argan.fr
Francis Albertinelli - Directeur Administratif et Financier Tél : 01 47 47 05 46 E-mail : [email protected] www.argan.fr
Aude Vayre – Relations presse Tél : 06 14 64 15 65 E-mail : [email protected]
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