For 2022, Argan has reported a 6% rise in recurring net income (group share) to 118.9 million euros (or 5.2 euros per share), representing 72% of rental income, which also rose by 6% to 166 million.

Posting a continuation EPRA NAV of 92.9 euros per share at December 31 (+1% year-on-year), the logistics property company is proposing a dividend increase of 15% to three euros per share for 2022, a level it hopes to at least maintain for 2023.

Argan expects rental income growth to be strong in 2023, with an increase of 10% to 182 million euros, but moderate thereafter, anticipating annual growth of 2%.

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