Argan Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	211.98	198.27	183.65	166.08	156.83
Tenant Reimbursements	35.2	37.11	33.9	28.64	25.73
Other Revenue	4.39	3.6	3.23	3.2	3.11
Total Revenue	251.57	238.97	220.78	197.92	185.67
Revenue Growth (YoY	5.27%	8.24%	11.55%	6.60%	8.55%
Property Expenses	42.19	42.69	40.15	36.57	31.76
Depreciation & Amortization	0.27	0.26	0.27	0.26	0.28
Other Operating Expenses	9.52	10.3	8.22	11.1	6.49
Total Operating Expenses	51.98	53.25	48.63	47.92	38.53
Operating Income	199.59	185.72	172.14	150	147.14
Interest Expense	-44.16	-49.05	-46.92	-34.25	-33.88
Interest & Investment Income	0.74	1.3	1.53	0.58	0.16
Income (Loss) on Equity Investments	-0.03	0.05	0.01	-0.03	-0.02
Other Non-Operating Income	0.59	-4.94	-19.9	18.3	2.65
EBT Excluding Unusual Items	156.73	133.07	106.87	134.6	116.05
Gain (Loss) on Sale of Assets	-0.07	-1.55	-0.21	-0.22	18.52
Asset Writedown	91.35	118.08	-373.11	-32.94	542.51
Other Unusual Items	-	-	-	-6.54	-0.75
Pretax Income	248	249.6	-266.45	94.9	676.32
Income Tax Expense	-	-	-	0.03	0.03
Earnings From Continuing Operations	248	249.6	-266.45	94.87	676.3
Minority Interest in Earnings	-2.81	-3.91	3	0.22	-8.18
Net Income	245.2	245.7	-263.45	95.09	668.11
Net Income to Common	245.2	245.7	-263.45	95.09	668.11
Net Income Growth	-0.20%	-	-	-85.77%	139.59%
Basic Shares Outstanding	26	25	23	23	23
Diluted Shares Outstanding	26	25	23	23	23
Shares Change (YoY)	4.01%	7.12%	0.89%	1.07%	1.24%
EPS (Basic)	9.57	9.96	-11.44	4.17	29.58
EPS (Diluted)	9.56	9.96	-11.44	4.17	29.58
EPS Growth	-4.02%	-	-	-85.92%	136.64%
Dividend Per Share	3.450	3.300	3.150	3.000	2.600
Dividend Growth	4.54%	4.76%	5.00%	15.38%	23.81%
Operating Margin	79.34%	77.72%	77.97%	75.79%	79.25%
Profit Margin	97.47%	102.81%	-119.33%	48.05%	359.85%
EBITDA	199.86	185.98	172.41	150.25	147.41
EBITDA Margin	79.45%	77.82%	78.09%	75.92%	79.40%
D&A For Ebitda	0.27	0.26	0.27	0.26	0.28
EBIT	199.59	185.72	172.14	150	147.14
EBIT Margin	79.34%	77.72%	77.97%	75.79%	79.25%
Effective Tax Rate	-	-	-	0.03%	0.00%

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.