Argan SA : Commercial momentum remains solid and is encouraging for 2024
>2023 rental income at € 184m, up +11% - Argan reported rental income of € 184m for 2023, up +11% and a shade above the guidance but in line with our estimate (vs € 184.4m est.). According to the group, this growth was driven by the full-year effect of deliveries in 2022, rents paid on warehouses delivered in 2022 and the five warehouses that were delivered in 2023, as well as the indexation of rents on 1 January 2023, i.e. +4% on average whilst the group’s assets are...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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