Cityvarasto Oyj · OMXHEX:CITYVA
Cityvarasto Oyj — Q3 2025 Earnings Presentation
23 slides from Cityvarasto Oyj's earnings presentation, 2025
Slide 1: Strong Growth and Listing on First North Marketplace
Strong Growth and Listing on First North Marketplace Cityvarasto Plc Interim Report for the Period 1.1.2025–30.9.2025
Slide 2: CEO's Review
CEO´s Review
Slide 3: From the CEO
From the CEO Strong Growth Continued in the Third Quarter 1 Cityvarasto’s revenue grew by 22.4% in Q3 and adjusted EBITDA by 23.1%. For the entire review period, revenue increased by 19.6% and adjusted EBITDA by 20.3%. Listing and Share Issue 2 During the period, Cityvarasto Plc announced its listin
Slide 4: Market Environment
Market Environment Demand Driven by Megatrends: Urbanization, more belongings, shrinking apartment sizes, decreasing average household size/increasing number of households, aging population. The self-storage sector in Finland is estimated to have growth potential. For example, in the Nordics, the av
Slide 5: Real Estate Business
Real Estate Business Cityvarasto’s core business is renting self-storage units and providing related services to its customers. Cityvarasto is the leading operator in Finland. As of 30 September 2025, Cityvarasto had 76 self-storage facilities, while the second largest operator had 16¹. Cityvarasto
Slide 6: Ancillary Services
Ancillary Services PakuOvelle.com is the largest and most known van rental company in Finland. It owned over 500 rental vans as of 30.9 and operated in 50 locations with 260 pick-up and drop-off points, many located at Cityvarasto self-storage sites or major retail parking lots. Cityvarasto Opiskeli
Slide 7: Acquisitions and Facility Launches
Acquisitions and Facility Launches Two new locations Two new locations were opened in Q3, in Jyväskylä and Kerava. Four new properties Four new properties were acquired in Q3, located in Helsinki, Kempele, Lohja, and Pori. Growing gross-floor area Gross floor areas of acquired properties: Helsinki 2
Slide 8: Revenue
Revenue Two decades of strong growth. Cityvarasto’s compound annual growth rate (CAGR) has been 30.7% from 2000–2024. Group revenue (EURm) and number of self-storage locations in 2000–20241 Revenue per year Revenue rolling 12 month 25,7 Number of self-storage locations 22,4 18,5 16,7 13,0 10,3 10,9
Slide 9: Cityvarasto's key growth drivers
Cityvarasto´s key growth drivers Growth in Ancillary Services supporting the Real Estate Business growth Increasing cash Converting more Investments in Investments in Growing Ancillary flow by self-storage area new properties M&A Services optimizing the to existing occupancy rates facilities and ren
Slide 10: Financial Review
Financial Review
Slide 11: Key Group Figures as of 30 September 25
Key Group Figures as of 30 September 25 19.9 (+19.6%) 9.2 (+20.3%) 199.6 (+51.1%) 45.8 (+10.6%) Fair value of freehold investment Net-debt (excluding IFRS 16 Revenue, M€ Adjusted EBITDA, M€ properties, M€ liabilities), M€ 46.4% (+0.2%)* 6.0 (+12.5%) 162.9 (+65.4%) 23.11 (+65.4%) Adjusted EBITDA marg
Slide 12: Revenue
Revenue Revenue grew in Q3, with growth in both segments. Real estate business revenue was mainly driven by an increase in rented self-storage square meters. Ancillary services revenue grew due to increased rental volumes from more vans. Quarterly Reporting period +19,6 % +22.4 % +13.1 % +11.7 % +46
Slide 13: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA grew by 20.3% during the review period, totaling EUR 9,246 (7,689) thousand. In Q3, adjusted EBITDA grew by 23.1%, totaling EUR 3,710 (3,013) thousand. Growth was driven by increased revenue and improved profitability in ancillary services. Quarterly Reporting period
Slide 14: Adjusted Operative Earnings per Share
Adjusted Operative Earnings per Share Adjusted operative earnings per share grew by 23.9% during the review period and by 27.4% in Q3 compared to the reference period. Quarterly +27.4 % Reporting period +23.9 % 0.30 0.27 0.23 0.68 0.22 0.55 0.14 0.12 0.09 1-9/2024 1-9/2025 Q1-24 Q2-24 Q3-24 Q4-24 Q1
Slide 15: Investments
Investments Investments during the nine-month review period totaled EUR 7,223 (9,498) thousand. Of these, EUR 5,875 (6,631) thousand related to real estate business and EUR 1,348 (2,868) thousand to ancillary services. Real estate investments included EUR 1,603 (3,513) thousand for new property acqu
Slide 16: Investments
Investments Investments in Q3 were EUR 3,067 (4,101) thousand. Of real estate investments, EUR 1,195 (1,440) thousand related to new property acquisitions (four properties acquired in the quarter). No new vans were purchased, resulting in lower ancillary services investments compared to the referenc
Slide 17: Financial Position
Financial Position Equity ratio at the end of the review period was strong at 60.1%. Interest-bearing net debt excluding IFRS 16 liabilities increased to EUR 45,810 (41,413) thousand, due to new bank loans taken for investment needs during the year. Net-debt and equity ratio quarterly 60 100,0 % 53.
Slide 18: Occupancy rates
Occupancy rates Occupancy rates remained stable during the review period and increased compared to previous periods, while rentable area grew through new property acquisitions and openings/expansions of self-storage locations. Quarterly 83.5 % 82.3 % 82.1 % 82.1 % 81.2 % 80.4 % 79.0 % 79.0 % 78.0 %
Slide 19: Development of average monthly rent per sqm and Lettable Area
Development of average monthly rent per sqm and Lettable Area Lettable area for self-storage grew steadily during the review period. Average square meter rents also developed steadily. Development in lettable bulk area is linked to self-storage conversions and new property acquisitions. Self-storage
Slide 20: Profit Guidance for Fiscal Year 2025
Profit Guidance for Fiscal Year 2025¹ (unchanged, published 24.9.2025) Cityvarasto estimates that group revenue and adjusted EBITDA will grow in 2025 compared to the previous year, and management’s assessment is in line with the company’s long-term financial targets. Based on the first half-year act
Slide 21: Financial targets
Financial targets Key financial indicators related to financial Financial targets by the end of 2029: targets at the end of the reporting period: • Growth: Group revenue growth averages • Revenue growth 19.6% for the review at least 12% per year period, 22.4% for Q3 • Profitability: Group EBITDA mar
Slide 22: Cityvarasto's key strengths
Cityvarasto´s key strengths Cityvarasto is the Cityvarasto Cityvarasto has a Cityvarasto has Change and leading operator operates in a proven business excellent growth development in its field in market with model opportunities model focused on Finland, strong growth sustainable measured by the driv
Slide 23: Questions & Answers
Questions & Answers