Argan (ARG) Q3 2026 TU earnings summary

Executive summary

• Rental income for the first nine months of 2026 reached €166.2 million, up 5% year-over-year, driven by new developments and rent indexation.

• Seven new warehouse projects delivered in 2026, with three more scheduled by year-end, supporting growth and portfolio expansion.

• Maintained a 99.9% EPRA occupancy rate, reflecting strong tenant demand and operational stability.

Financial highlights

• Q3 2026 rental income was €56.5 million, up 7% compared to Q3 2025.

• Total rental income for the first nine months of 2026 was €166.2 million, a 5% increase from €158.7 million in the same period of 2025.

• Rental income growth attributed to full-year effect of 2025 developments and 0.6% rent indexation effective January 1, 2026.

Outlook and guidance

• Full-year 2026 rental income target raised to at least €222 million, representing a 5% increase over 2025.

• Solid prospects for Q4 2026, supported by ongoing project deliveries and high occupancy.