€165 million rental income target confirmed
Quarterly financial information – Monday 3rd October 2022 – 17.45 pm
- €165 million rental income target confirmed
- Average yield of 6% for developments since the beginning of the year
Rental income (IFRS) at end-September 2022 (unaudited figures)
| €m | Financial year 2022 | Financial year 2021 | Changes |
| 1st quarter (Jan.- March) | 40.7 | 38.2 | + 7% |
| 2nd quarter (April - June) | 41.0 | 38.0 | + 8% |
| 3er trimestre (Jul. - Sept.) | 41.2 | 40.8 | + 1% |
| Total (Jan. - Sept.) | 122.9 | 117.0 | +5% |
Rental income up +5% since the beginning of the year
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.
Significant events of Q3 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.
Financial calendar 2023 (Publication of the press release after closing of the stock exchange)
- 3rd January 2023: Annual sales 2022
- 19th January 2023: Annual results 2022
About Argan
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.
Francis Albertinelli - Directeur Administratif et Financier Tél : 01 47 47 05 46 E-mail : | Aude Vayre – Relations presse Tél : 06 14 64 15 65 E-mail : |
Attachment
