Argan Income Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	206.03	198.27	183.65	166.08	156.83	142.39
Tenant Reimbursements	37.07	37.11	33.9	28.64	25.73	25.81
Other Revenue	3.84	3.6	3.23	3.2	3.11	2.84
Total Revenue	246.94	238.97	220.78	197.92	185.67	171.04
Revenue Growth (YoY	7.53%	8.24%	11.55%	6.60%	8.55%	67.55%
Property Expenses	43.48	42.69	40.15	36.57	31.76	30.15
Depreciation & Amortization	0.26	0.26	0.27	0.26	0.28	2.34
Other Operating Expenses	10.13	10.3	8.22	11.1	6.49	6.35
Total Operating Expenses	53.86	53.25	48.63	47.92	38.53	38.84
Operating Income	193.08	185.72	172.14	150	147.14	132.21
Interest Expense	-45.03	-49.05	-46.92	-34.25	-33.88	-33.27
Interest & Investment Income	1.46	1.3	1.53	0.58	0.16	0.06
Income (Loss) on Equity Investments	-0.03	0.05	0.01	-0.03	-0.02	-0.29
Other Non-Operating Income	-14.25	-4.94	-19.9	18.3	2.65	-3.69
EBT Excluding Unusual Items	135.23	133.07	106.87	134.6	116.05	95.02
Gain (Loss) on Sale of Assets	-1.57	-1.55	-0.21	-0.22	18.52	9.29
Asset Writedown	162.9	118.08	-373.11	-32.94	542.51	174.58
Other Unusual Items	-	-	-	-6.54	-0.75	-
Pretax Income	296.56	249.6	-266.45	94.9	676.32	278.89
Income Tax Expense	-	-	-	0.03	0.03	0.03
Earnings From Continuing Operations	296.56	249.6	-266.45	94.87	676.3	278.86
Minority Interest in Earnings	-5.87	-3.91	3	0.22	-8.18	-
Net Income	290.7	245.7	-263.45	95.09	668.11	278.86
Net Income to Common	290.7	245.7	-263.45	95.09	668.11	278.86
Net Income Growth	207.92%	-	-	-85.77%	139.59%	29.68%
Basic Shares Outstanding	25	25	23	23	23	22
Diluted Shares Outstanding	25	25	23	23	23	22
Shares Change (YoY)	8.45%	7.12%	0.89%	1.07%	1.24%	25.90%
EPS (Basic)	11.42	9.96	-11.44	4.17	29.58	12.50
EPS (Diluted)	11.41	9.96	-11.44	4.17	29.58	12.50
EPS Growth	184.29%	-	-	-85.92%	136.64%	3.00%
Dividend Per Share	3.300	3.300	3.150	3.000	2.600	2.100
Dividend Growth	4.76%	4.76%	5.00%	15.38%	23.81%	10.53%
Operating Margin	78.19%	77.72%	77.97%	75.79%	79.25%	77.30%
Profit Margin	117.72%	102.81%	-119.33%	48.05%	359.85%	163.04%
EBITDA	193.34	185.98	172.41	150.25	147.41	134.55
EBITDA Margin	78.29%	77.82%	78.09%	75.92%	79.40%	78.66%
D&A For Ebitda	0.26	0.26	0.27	0.26	0.28	2.34
EBIT	193.08	185.72	172.14	150	147.14	132.21
EBIT Margin	78.19%	77.72%	77.97%	75.79%	79.25%	77.30%
Effective Tax Rate	-	-	-	0.03%	0.00%	0.01%

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