Cityvarasto Q3 2025, Summary

Cityvarasto Oyj Reports Record Q3 2025 Results and Successful Market Listing

Cityvarasto Oyj has delivered its strongest quarterly performance to date in the third quarter of 2025, marking a significant milestone in the company's growth trajectory.

Record-Breaking Q3 Performance

The self-storage company achieved exceptional results in the third quarter, with revenue climbing 22.4 percent year-over-year to €7.3 million. Adjusted EBITDA demonstrated similar momentum, growing 23.1 percent to €3.7 million, while the adjusted EBITDA margin expanded to 50.8 percent.

The strong operational performance translated into shareholder value, with adjusted operational earnings per share reaching €0.30, representing growth of 27.4 percent compared to the same period last year.

Strategic Expansion Continues

Cityvarasto maintained its expansion strategy throughout the quarter, acquiring four new properties across Finland in Helsinki, Kempele, Lohja, and Pori. The company also opened two new self-storage facilities in Jyväskylä and Kerava, bringing its total network to 76 facilities by the end of the review period. The company's occupancy rate stood at 79 percent.

Nine-Month Results Demonstrate Consistent Growth

For the January to September 2025 period, the company's performance remained robust, with revenue increasing 19.6 percent to €19.9 million and adjusted EBITDA rising 20.3 percent to €9.2 million. During this nine-month period, Cityvarasto opened six new facilities and completed six property acquisitions.

Successful Public Market Debut

In a major corporate milestone, Cityvarasto completed its listing on Nasdaq First North Growth Market Finland in early October 2025. The offering was significantly oversubscribed at a share price of €16, raising approximately €15 million in gross proceeds and attracting a diverse mix of domestic and international investors.

Strong Financial Foundation

The company maintains a solid financial position with a loan-to-value ratio of 23.6 percent and an equity ratio of 60.1 percent as of the end of the review period. The fair value of investment properties reached €199.6 million, representing year-over-year growth of 51.1 percent. Net asset value per share stood at €23.11.

Outlook and Long-Term Strategy

For the full fiscal year 2025, Cityvarasto projects that Group revenue and adjusted EBITDA will grow between 15 and 20 percent compared to 2024, aligning with the company's long-term financial objectives.

Looking further ahead, the Board has established ambitious five-year targets, including average annual revenue growth exceeding 12 percent, maintaining an EBITDA margin above 50 percent, and investing approximately €10 million annually. The company aims to keep its loan-to-value ratio below 35 percent while expanding to approximately 100 self-storage facilities by the end of 2029.

With its strategic investments, robust financial position, and newly expanded shareholder base, Cityvarasto is well-positioned to continue its growth trajectory in the Finnish self-storage market.