Cityvarasto Q4 2025, Summary
Cityvarasto Delivers Strong Q4 2025 Results Following Successful Stock Exchange Listing
Finnish self-storage company Cityvarasto reported robust fourth-quarter and full-year 2025 financial results, with both revenue and EBITDA growth exceeding company expectations. The performance culminated in a successful listing on the Helsinki Stock Exchange's First North marketplace during the quarter.
Strong Financial Performance Across Key Metrics
For the fourth quarter of 2025, Cityvarasto achieved revenue growth of 25.4% and adjusted EBIT growth of 19.5%. The full fiscal year performance was equally impressive, with revenue increasing 21.1% to 27.1 million euro and adjusted EBIT growing 20.1% to 12.1 million euro. Both metrics exceeded the company's previously issued guidance, prompting a positive profit warning in January.
Operational earnings per share reached 0.85 euro, representing approximately 23% growth compared to the previous year. The company's fair value of owned investment properties stood at approximately 209 million euro, showing growth of just under 8% compared to the end of the previous year.
Successful Capital Raise Strengthens Balance Sheet
The company's listing on the Helsinki Stock Exchange's First North marketplace generated approximately 15 million euro in gross proceeds during the fourth quarter. Combined with the broader share issue of approximately 50 million euro, Cityvarasto significantly strengthened its financial position, ending the year with net debt of approximately 33 million euro excluding IFRS 16 lease liabilities and an equity ratio of almost 65%.
The loan-to-value ratio stood at approximately 20% at year-end, well below the company's target of maintaining LTV below 35%, providing substantial capacity for future growth investments.
Expansion Strategy Drives Growth
During fiscal year 2025, Cityvarasto executed an ambitious expansion strategy, acquiring seven properties and opening six new locations while expanding five existing facilities. The company added approximately 6,000 square meters of self-storage floor space, representing about 10% growth compared to the previous year.
New locations were established in Helsinki, Espoo, Kerava, Hyvinkää, Tampere, and Uusikaupunki, while expansions occurred in Roihupelto, Malmi, Konala, Vantaa, and Kotka. Property acquisitions included locations in Helsinki, Yritysmaa, Rihtimäki, Lohja, Porvoo, and Kokkola.
Ancillary Services Drive Exceptional Growth
The company's ancillary services segment delivered outstanding performance, with van rental operations showing quarterly growth of over 50% in the fourth quarter and approximately 47% for the full year. The Property business segment grew 15% quarterly and just under 13% for the full fiscal year.
Cityvarasto's moving services expanded through acquisitions, with Opiskelijamootot completing over 2,400 moves in southern Finland and the acquisition of YAKI Mootot strengthening capabilities in larger renovation project moves. The company now operates over 500 rental vans across more than 50 locations.
Market Position and Growth Potential
CEO Ville Stenroos highlighted that approximately 60% of Finns live within 15 minutes of the nearest Cityvarasto facility, positioning the company as the closest to customers in the market. Customer satisfaction remains high, with approximately 90% of customers reporting satisfaction or high satisfaction with services.
The company's existing property portfolio offers significant expansion potential, with capacity to increase self-storage space by over 20,000 square meters at current locations alone. Finland continues to lag peer countries in self-storage capacity, with Nordic countries averaging 50% higher capacity per capita, Britain more than double, and the United States approximately 15 times higher.
2026 Guidance and Strategic Outlook
For fiscal year 2026, Cityvarasto projects revenue of 29.9-31.2 million euro, representing 10-15% growth compared to 2025. Adjusted EBIT is estimated at 12.7-13.9 million euro, with growth of 5-15% year-over-year.
The company expects more moderate growth in ancillary services compared to 2025's exceptional performance, particularly in van rental operations. Growth investments in the self-storage business are expected to temporarily impact relative profitability during 2026, while the recent acquisition of Yakimotos moving business may slightly affect ancillary services profitability.
Dividend Growth Continues
The Board of Directors proposed a dividend of 0.11 euro per share for fiscal year 2025, totaling just under 900,000 euro. This represents the 11th consecutive year of growing dividend payments, aligning with the company's dividend policy of prioritizing growth investments while maintaining moderate dividend growth.
Medium-Term Financial Targets
Cityvarasto maintains ambitious medium-term financial targets through 2029, including average annual revenue growth of at least 12%, EBIT margin exceeding 50%, average annual investments of at least 10 million euro, and maintaining LTV below 35%. The company's 2025 performance showed progress toward these goals, with 21.1% revenue growth, 44.6% EBIT margin, 9.5 million euro in investments, and 20.3% LTV ratio.
With 26 consecutive years of revenue growth and a strengthened balance sheet following the successful listing, Cityvarasto appears well-positioned to capitalize on structural growth trends including urbanization, increasing possessions, decreasing apartment sizes, and growing affluence in Finnish markets.
This summary was written by our AI Analyst Tim! If you find something that does not seem right let us know and we will correct him.