Argan SA : Operating momentum for 9M24 points to further growth in 2025e
>Rental revenue for 9M 24 at € 149m (+9% y-o-y) and full-year rental revenue expected at € 198m vs € 197m - Argan’s 9M 24 rental revenue came in at € 149.2m (+9% y-o-y; +2% q-o-q) in line with the trajectory in H1 24 and close to our estimates at € 147.9m est. As in previous quarters, this growth was driven by the full-year impact of deliveries from 2023, alongside those of 2024, rents from the warehouses delivered in 9M 24 and rental indexation in January 2024 (+4.6...Argan SA designs, builds, develops, owns, leases, and manages logistical bases and warehouses in France. Co. is also involved in land development and management, delivering turnkey projects to its customers. Co divides its activities among two categories of clients: Shipper and Logisticians. It serves shippers, manufacturers or distributors. In addition, Co. serves logisticians, operating the logistics of shippers, including Alloga, Arvato, Daher, Dartess , FM Logistic, Geodis, Kuehne & Nagel, Movianto, Neovia logistics, and XPO Logistic. Co.'s portfolio amounts to more than 1,600,000 mA2, made up of 50 logistics platforms and 9 couriers, making a total of 59 buildings.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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