ARGAN: Rental income increased by 6% to 166 million euros in 2022

Quarterly financial data Tuesday 3 january 2023 17:45

Rrental income hour 166 €m
6% up about year 2022

Rental income (IFRS) 31 December 2022 (numbers unverified)

€m Exercise 2022 Exercise 2021 Evolution
Cumulative 3 quarters (January – September) 122.9 117.0 + 5%
4c term (October-December) 43.2 39.8 + 9%
General 2022 – (January – devs.) 166.1 156,8 +6%

rental income of 166 €m during the year 2022

ARGAN, a French real estate company specializing in the development and leasing of PREMIUM warehouses in 2022, from rental income 166,1 € million, increases with + 6% Compared to 2021. This strong growth is largely the result of the full-year impact of deliveries in 2021 and rents from six new developments delivered since the start of the year and the acquisition of warehouse here.
153,000 m² to Renault Group in October 2022.

220 million euros have been invested in 2022

There is ARGAN throughout the year invested about 220 €mIt represents more than 245,000 m² of storage and creator Rental income of €13 million, or a youyield aux 5,7% :

  • A logistics platform was delivered in January 14 000 m², located in Serris, Marne-la-Vallée (77)., facing the A4 motorway, let two major international groups each occupy one unit in this building for respective firm periods of three and nine years. This delivery constituted the group’s first autonomous warehouse. It should be noted that Autonom is a warehouse that produces its own green energy with a neutral carbon footprint for lighting and heating, and constitutes the group’s new development standard. It has a photovoltaic power plant on its roof, a set of accumulators that supply air-to-air heat pumps, whose production is intended for self-consumption by tenants.
  • In February, extension 7 000m2 From our warehouse in Marne-la-Vallée (77), Chanteloup-en-Briefor the current tenant Arvato Services Healthcarebringing the total area of ​​the site to 28,000 m² with a new six-year lease.
  • Delivery in March extension 6 000m2 Our 12,000 m² warehouse in Marne-la-Vallée (77), Croissy-Beaubourgand has been leased to L’Oréal since 2000. This extension is leased to Intersurgical, European leader in medical equipment for respiratory support. This warehouse will be leased for nine years.
  • in September, Delivery of 18,000m warehouse in Caen (14).2 fully leased to Legallais, French leader in the distribution of tools and hardware products for professionals. This warehouse is leased for 12 years and is equipped with photovoltaic panels and batteries. the second Autonomy of the group.
  • in September, acceptance store new Compass (77) 15000 m2 fully leased Closure – private 12 years fixed term. This repository developed by Virtuo has been adopted grand prize in the logistics category Awarded by SIMI (Commercial Real Estate Show), it describes the warehouse’s “net zero emissions approach”.
  • A logistics platform in September 14 000m2 Located in Saint-Jean-de-la-Neuville (76) is leased to DIDACTICA group specializing in protective products, infusions or hygiene solutions for 12 years.
  • Delivered an extension in December 18,000 m2 Located in Albon (26) It is rented to 2 groups. The logistics platform is currently 31,000 m². A large part of the extension will be leased for 6 years to the Bert group, which specializes in logistics and transport solutions. The rest of the expansion Leased to Nutrition and Healthhas already leased the existing 13,000 m² for 9 years.
  • The conclusion the rehabilitation two warehouses Rognac (13) and for Lens (62). total area of ​​45,000 m². These 2 warehouses are fully leased and owned by SCI
    “CARGAN-LOG” was delivered to 60% by ARGAN and 40% by CARREFOUR group.

All vsit is developments Certified “Breeam Very Good”..

  • In addition to these developments, Argan bought a warehouse in Sens (89), 110 km from Paris, In the Renault Group. This warehouse represents an area of ​​153,000 m² and is fully leased to Renault SAS for a period of 12 years.
  • At the same time, ARGAN sold a 9,000 m² logistics platform in Tours (37) in February 2022.

Un The premium portfolio of 3.5 million m² is valued at 4 billion Excluding fees at the end of December 2022 and increases by +5%

  • As of December 31, 2022, the built portfolio represents 3,500,000 m². Its value has increased
    +5%, From €3.75 billion at the end of 2021 3,94 Metc € excluding fees (€4.17 billion including fees), showing a capitalization rate of 4.45% excluding fees (4.2% including fees), slightly compared to 4.3% excluding fees as at 31 December 2021 increased.
  • It should be noted,effects increase it `s degree capitalization on strengthening the built heritage there is already compensatedetc with deliveries during the year.
  • The weighted average residual firm lease term remains at 5.5 years.
  • The occupancy rate of the property is 99% and will restore the rate from 1 to 100%er quarter 2023 Thanks to the relocation of the Ferrières site. The weighted average age is 10.4 years (vs. 9.6 years as of December 31, 2021).

Ufinancial strength confirmed

  • Within 4c a quarterStandard & Poor’s reaffirmed its “BBB-” investment rating with a “stable” outlook. This approval demonstrates that the group is firmly positioned to face the new uncertain macroeconomic environment.

Financial calendar 2023 (Press release distribution after market)

  • 19 January 2023: 2022 annual results

About Argan

ARGAN is the only French PREMIUM WAREHOUSE CONSTRUCTION AND RENT property listed on Euronext.
As of December 31, 2022, its portfolio represents 3.5 million m², divided into nearly a hundred warehouses located exclusively in France, worth €4.0 billion. ARGAN is listed on section A of Euronext Paris (ISIN FR0010481960 – ARG) and is part of the CAC All-Share and IEIF SIIC France indices. The real estate company chose the SIIC system in 1er July 2007.

  • 20221003 – Rental income 2022

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