Argan Raises 2026 Rental Income Target
Argan, the French warehouse developer, announced that its first‑half rental income rose 4% year‑over‑year to €110 million. This performance led the company to increase its 2026 rental income target to over €221 million, up from the previous guidance of €220 million.
The uplift reflects the full‑year impact of property deliveries completed in 2025 and the effect of rent indexation that became effective on 1 January 2026. Over the six‑month period, Argan’s portfolio value grew 5% to €4.27 billion, and occupancy reached 100%.
Recurring net income per share for the group stood at €3.0, remaining broadly stable compared with the same period last year. The stability is attributed to higher finance costs arising from a €500 million bond issue completed in April 2026.
The company reaffirmed its 2026 recurring net income per share guidance at approximately €6. Investment plans for 2026 were raised to a record €200 million, with an additional ≈€150 million of annual investments expected beyond 2026.