Appraisals values at end-December 2023:
– €3.68 Bn excluding duties (i.e., cap rate of 5.10%)
– €3.89 Bn including duties (i.e., cap rate of 4.85%)
– The average remaining term of the leases at end-December 2023: 5.7 years fixed
Gross financial debt at end-December 2023: €1.9bn
55% of fixed-rate bond
40% Hedged variable rates
5% Floating rate debt
– EPRA Loan to Value at end-December 2023: 49.7%
– EPRA NAV NRV at end-December 2023: €2.091 Bn, i.e., €90.6 / share
– EPRA NAV NTA at end-December 2023: €1.827 Bn, i.e., €79.1 /share
– EPRA NAV NDV at end-December 2023: €1.930 Bn, i.e., €83.6 /share
Argan’s updated targets to by end–2024:
– Rental income: €197m
– Recurring net Income – Group share: €133m
Argan has been listed on Euronext Paris since June 2007, on the A compartment of Euronext Paris. Argan is included in the CAC All-Shares, IEIF SIIC France and EPRA Europ indices. As of 1 July 2007, the Company opted for the SIIC tax regime
Place of cotation : Euronext Paris
ISIN: FR0010481960
Ticker: ARG
Number of shares at end-January 2024: 23,092,378