Argan SA : Growth outlook still robust buoyed by the scarcity of supply
>Rental income at € 166m, up +6% for 2022 - Yesterday evening, Argan reported annual rental income of € 166.1m (+6% y-o-y) very slightly above the guidance for € 165m and our forecast (€ 165.5m est.). For the group, this growth was largely the result of the full-year effect of deliveries in 2021 and the rents generated by the six new developments delivered since the beginning of the year as well as the acquisition of a 153,000m² warehouse from the Renault Group in Oct...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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