2021 targets have been exceeded with rental income of €157m (+10%) and a portfolio valued at €3.75bn (excluding transfer taxes)
03 Janvier 2022 - 5:45PM
2021 targets have been exceeded with rental income of €157m (+10%)
and a portfolio valued at €3.75bn (excluding transfer taxes)
Annual revenue – Monday 03
January
2022
– 5:45 pm.
2021 targets have been
exceeded with rental income of
€157m
(+10%)
and a portfolio valued at
€3.75bn (excluding transfer
taxes)
Rental income (IFRS) as at 31 December 2021
(unaudited figures)
€m |
Financial year
2021 |
Financial year
2020 |
Change |
9-month total cumulated (Jan.-Sept.) |
117.0 |
106.0 |
+10% |
4th quarter (Oct.-Dec.) |
39.8 |
36.4 |
+9% |
Year total |
156.8 |
142.4 |
+10% |
RENTAL INCOME GROWTH TARGET EXCEEDED
In the 4th quarter of 2021, ARGAN, the French
real estate company specialising in the development and rental of
PREMIUM warehouses, recorded rental income of €39.8m, a strong
growth of over +9% compared with the same period last year, due
mainly to the full-year effect of the units delivered throughout
the year 2020 as well as rents generated by developments and
acquisitions made throughout 2021.For the financial year
2021, rental income thus stands
at €156.8m, up
+10% compared with the financial
year 2020 (€142.4m), thus exceeding the
initial target of €154m.
€240 MILLION OF
INVESTMENTS IN 2021
In 2021, ARGAN has invested
€240m, representing more than 325.000 sq. meters
and generating, at a rate of
return of 5.65%,
€13.5m
of rental income:
- In March,
delivery of a logistics platform of 14,200
sqm located in Gondreville, leased to
COLRUYT, a local supermarket brand, for a fixed
term of 9 years. The implementation of a rooftop
photovoltaic power plant producing 150 MWh per year dedicated to
COLRUYT’s own use saves 10 tons of CO² emissions per
year;
- In May,
delivery of the 12,000 sqm
extension consisting of two new units on the site of
Decathlon in Ferrières-en-Brie. One unit is leased to
DECATHLON under a firm 6-year lease. The second
cell is rented to XEFI, a leading IT services company for very
small / very small businesses, for a fixed term of 6 years;
-
In May, acquisition from Carrefour of 3 warehouses located
in Lens, Marseille and Plessis-Pâté for a total surface area of
70,000 sqm in the context of the creation of a joint
property company (SCI – Société Civile Immobilière) held at 60% by
ARGAN and 40% by the Carrefour Group. The warehouse of Plessis-Pâté
is fully leased to CARREFOUR and the refurbishment
of the warehouses of Lens and Marseille, which will be leased to
identified third parties, is ongoing;
-
In June, delivery of a new warehouse of
22,000 sqm in Escrennes, leased to FDG
Group, leader in the non-food retail market, for a
fixed term of 9 years
-
in August, delivery of the 185,000 sqm logistics platform
on 4 levels located near Metz and leased to AMAZON
France for a fixed term of 15 years. The rooftop
photovoltaic power plant, the rainwater collecting system, the
vegetalisation of the site and the other environmental advances
integrated into the project have enabled it to obtain a BREEAM Very
Good certification. Self-consumption saves 36 tons of
CO² emissions per year.
-
In November, delivery of the
18,000 sqm extension of the
logistics platform located in
Meung-sur-Loire to a total of
32,000
sqm. Two units with a total surface area of 13,000
sqm are leased to ASTR'IN, an operator of land
transport and logistics.
At the same time, ARGAN sold a portfolio of four
logistics hubs with a total area of more than 53,000 sqm to OPPCI
GROUPAMA GAN REIM in October 2021.
A PREMIUM PORTFOLIO OF
3.3 MILLION SQ. METERS VALUED AT
€3.75 BILLION EXCLUDING TRANSFER
TAXES AT THE END OF DECEMBER 2021
As at 31 December 2021, the built portfolio
amounts to 3,265,000 sqm. Its valuation is thus increasing by +24%,
from €3,012m at the end of 2020 to €3,745m excluding transfer taxes
(€3,934m including
transfer taxes), resulting in a capitalisation rate of
4.30% excluding transfer
taxes (4.10% including transfer taxes), down sharply
compared to 5.05% excluding transfer taxes as at 31 December
2020.
The weighted average remaining fixed
length of the leases, calculated as at 1st January 2022,
is 5.9 years (up
vs. 5.7 years as at 1st January 2021).The occupancy rate
for the portfolio is 99% and its weighted average
age is 9.6
years (vs. 9.2 years as at 31 December 2020).
Given the current health context, the
annual results presentation will be broadcast live as a video
webcast.
Financial calendar
2022
(Publication of the press release after closing of the stock
exchange)
- 19 January: Annual results
2021 (by
video webcast)
- 24 March: General Shareholders’ Meeting
- 4 April: 1st quarter sales 2022
- 4 July: 2nd quarter sales 2022
- 20 July: Half-year results 2022
- 3 October: 3rd quarter sales 2022
About
Argan
ARGAN is the only French real estate company
specialising in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES
listed on Euronext.As at 31 December 2021, ARGAN’s portfolio
amounted to 3.3 million sq. meters, comprising approximately 100
warehouses located exclusively in France, valued at €3.75 billion
and generating annual rental income of €162 million. 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.www.argan.fr
Francis Albertinelli – Chief Financial and Administrative
OfficerMarie-Caroline Schwartz – General CounselTel: +33 1 47 47 05
46 E-mail: contact@argan.frwww.argan.fr |
Aude Vayre – Media relationsTel: +33 6 14 64
15 65E-mail: argan@citigatedewerogerson.com |
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