Communication Officielle
Vendredi 01 octobre 2021, 18h00 (il y a 29 mois) ARGAN: 10% growth in rental income to €117m at the end of September 2021Quarterly financial information – Friday 1st October 2021 - 5:45 pm. ARGAN: 10% growth in rental income to €117m at the end of September 2021 Rental income (IFRS) as at 30 September 2021 (unaudited figures)
In the 3rd quarter of 2021, ARGAN, the French real estate company specialising in the development and rental of PREMIUM warehouses, recorded rental income of €40.8m, an increase of 12% compared with the 3rd quarter of 2020. At the end of September 2021, cumulative rental income thus reached €117m, up 10% compared with the same period last year. This strong growth of 10% in rental income is due to the full-year effect of the 2020 deliveries as well as the rental income generated by the units delivered since the beginning of the year. Delivery during the 3rd quarter During the 3rd quarter of 2021, ARGAN maintained its development with the delivery of a new warehouse:
Revaluation of the delivered portfolio and decrease of the LTV ratio objective As at 30 September 2021, the valuation of ARGAN’s delivered portfolio of amounts to €3.7bn excluding transfer taxes (€3.9bn including transfer taxes) resulting in a capitalisation rate of 4.40% excluding transfer taxes (4.20% including transfer taxes) down compared to 4.70% excluding transfer taxes as at 30 June 2021, allowing us to revise our LTV ratio target to 50% for the end of the year (against an initial guidance of 53%). Disposal to an OPPCI managed by GROUPAMA GAN REIM of a portfolio of 4 logistics platforms In accordance with our strategic plan, on 1st October 2021, ARGAN signed the disposal of a portfolio of 4 assets located in Loire-Atlantique, Maine et Loire, Var and Tarn and totalling more than 53,000 sqm. The portfolio is fully leased for a total annual rent of €3.2m excluding taxes and charges and with an average residual lease term of approximately 5 years. Financial calendar 2021 (Publication of the press release after closing of the stock exchange)
About Argan ARGAN is the only French real estate company specialising in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on Euronext.
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