Argan Anticipates Slower Growth in Rental Income by 2026
Real estate group Argan exceeded its rental income targets in 2025 with EUR 212 million, up by 7%, but expects a slowdown to 4% next year.
2025 Performance Overview
In 2025, Argan recorded rental incomes of EUR 212 million, surpassing its revised target of EUR 211 million. This performance marks a 7% increase compared to the previous year. However, the consolidated net earnings per share decreased by 4% in 2025, from EUR 10 to EUR 9.6.
Projections for 2026
For 2026, Argan forecasts a 4% growth in its rental incomes, reaching about EUR 220 million. The group has secured investments close to EUR 165 million for 2026, with an average yield of over 6%. Argan plans to refinance its EUR 500 million bond loan maturing in November 2026.
Financial Strategy and New Tenants
The cost of debt is expected to rise from 2.10% to about 3% in 2026. Argan's gross financial debt stood at EUR 1.7 billion at the end of 2025. New tenants expected in 2026 include Danone, Ferrero, and Puma.
