Argan: exceeds NRI target in 2024

(CercleFinance.com) - Argan has published a 9% increase in net recurring income (group share) to E137m at end-2024, with its margin remaining high at 69% of rental income, exceeding the E135m target set for the year.


Including the effect of the change in fair value of the portfolio, which has returned to positive territory with an impact of +E118m, net income group share is once again positive (compared with 2023), at E245.7m over 12 months.

For 2025, the real estate company anticipates net income, group share of E151m, with rental income up 6% to E210m, and a dividend per share of E3.45, 5% above the E3.30 dividend for 2024.

In addition, Argan presents a 2025-30 master plan, which targets net growth of 3% p.a., financed mainly by the proceeds of arbitrages, and a reduction in the net debt to EBITDA ratio to 6x in 2030, compared with 9x in 2024.


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