ARGAN Secures 'BBB-' Rating From S&P with Stable Outlook
ARGAN's Investment Grade Rating Stays Firm
ARGAN, a prominent French real estate company, recently received an affirmation of its investment-grade status, continuing to hold a 'BBB-' rating from S&P Global Ratings. This rating includes a stable outlook, showcasing the company's resilience and financial stability in the market.
Understanding the Financial Metrics
The latest assessment from S&P highlights that ARGAN's level of indebtedness remains consistent with its current rating. The rating is primarily driven by ARGAN's solid performance metrics, including a projected loan-to-value EPRA ratio of 41.5% and a net debt to EBITDA ratio of 8.7 times for the year ahead. This marks a significant improvement from 2024, where the figures stood at 43.1% and 9.2 times, respectively.
Confidence in Cash Flow Generation
S&P Global Ratings has expressed strong confidence in ARGAN’s ability to generate continuous cash flows, which is critical for sustaining its business operations and addressing financial obligations. The company is also well-positioned to manage its €500 million bond maturity due in November 2026, further solidifying investor trust.
Profile of ARGAN
As the only French real estate entity focused on the development and rental of premium warehouses, ARGAN has carved out a significant niche in the marketplace. Listed on EURONEXT, the company employs a customer-centric approach, developing state-of-the-art, carbon-neutral warehouses for leading companies. As of mid-2025, ARGAN’s portfolio has reached 3.7 million square meters, appraised at around €4 billion, and generates an impressive annual rental income exceeding €210 million.
Financial Calendar for 2025
Looking forward, ARGAN has outlined its finance-related activities through a detailed calendar. Notable dates include:
- October 1: Announcement of third-quarter sales for 2025
Financial Calendar for 2026
In addition, the financial calendar for 2026 includes:
- January 5: Announcement of fourth-quarter sales for 2025
- January 22: Release of annual results for 2025
- March 26: Scheduled General Assembly for 2026
Commitment to Sustainability
ARGAN is deeply committed to sustainability and has integrated an ESG policy addressing its stakeholders. This is reflected in the accolades received from third-party agencies, underscoring the company’s dedication to low extra-financial risk and its efforts in environmental leadership.
Company Contacts
For further information regarding ARGAN, you can reach the following key individuals:
- Francis Albertinelli – CFO
- Aymar de Germay – General Secretary
- Samy Bensaid – Head of Investor Relations
- Phone: +33 1 47 47 47 40
- Email: contact@argan.fr
Frequently Asked Questions
What was ARGAN's recent rating status from S&P?
ARGAN maintained an investment-grade status with a 'BBB-' rating and a 'stable' outlook according to S&P Global Ratings.
How does ARGAN plan to handle its upcoming bond maturity?
ARGAN is confident in its ability to refinance its €500 million bond maturity due in November 2026, bolstered by strong cash flow generation.
What sustainability initiatives does ARGAN have?
ARGAN implements a committed ESG strategy and has received acknowledgments for its initiatives from various third-party agencies.
What key financial metrics are projected for ARGAN?
The company targets an LTV EPRA ratio of 41.5% and a net debt to EBITDA ratio of 8.7 times for the upcoming year.
How large is ARGAN's real estate portfolio?
As of mid-2025, ARGAN's portfolio includes 3.7 million square meters of premium warehouse space valued at €4 billion.
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