Cityvarasto Plc Company Release February 24^th 2026 at 9.00 am EET

Cityvarasto Plc Financial statements release 1 January – 31 December, 2025: Growth Exceeded Expectations

This is a summary of Cityvarasto Plc’s Financial statements release for January 1— December 31, 2025. The complete report is attached to this release and is also available at the company website at https://sijoittajat.cityvarasto.fi/en/

Figures in parentheses refer to the corresponding period of the previous fiscal year, unless otherwise stated. The figures presented are unaudited unless otherwise stated. However, the full-year 2024 figures have been audited.

Numerical values are presented in thousands of euros, unless otherwise stated, and percentages and key figures have been calculated based on the original, unrounded figures. The sum of individual figures may not correspond to the presented totals because the figures have been rounded to the nearest thousand.

Q4 in brief (1 October – 31 December 2025)

• Revenue was 7,233 (5,767) thousand euros, an increase of 25.4%.
• Adjusted EBITDA was 2,858 (2,391) thousand euros, an increase of 19.5%, and adjusted EBITDA margin was 39.5 (41.5) %.
• Adjusted operative earnings per share were 0.18 (0.14) euros, an increase of 22.7%
• Cityvarasto acquired a new property in Kokkola.
• Cityvarasto listed on the Nasdaq First North Growth Market Finland-marketplace and completed a share issue of approximately 15 million euros at the beginning of the quarter. Trading in the company’s shares began on 3 October 2025.

Financial year 1 January -31 December 2025 in brief

• Revenue was 27,143 (22,410) thousand euros, an increase of 21.1%.
• Adjusted EBITDA was 12,104 (10,080) thousand euros, an increase of 20.1%, and the adjusted EBITDA margin was 44.6 (45.0) %.
• Adjusted operative earnings per share were 0.85 (0.69) euros, an increase of 22.9%.
• The number of self-storage facilities at the end of the period was 77 (68) with an occupancy rate of 80 (76) %.
• During the financial year, six new self‑storage facilities were opened, two of which operate in leased premises, and a total of seven new owned properties were acquired.

Group Key figures

EUR thousand	Q4-2025	Q4-2024	Change %	2025	2024	Change %
Revenue	7,233	5,767	25.4 %	27,143	22,410	21.1 %
Adjusted EBITDA	2,858	2,391	19.5 %	12,104	10,080	20.1 %
Adjusted EBITDA margin (%)	39.5 %	41.5 %		44.6 %	45.0%
Result for the period	7,387	48,833	-84.9 %	10,715	51,607	-79.2 %
Adjusted operative earnings per share	0.18	0.14	22.7 %	0.85	0.69	22.9 %
Fair value of investment properties	208,800	194,100	7.6 %	208,800	194,100	7.6 %
NAV	186,510	159,568	16.9 %	186,510	159,568	16.9 %
NAV per share	23.35	22.64	3.1 %	23.35	22.64	3.1 %
LTV ratio (%)	20.3 %	23.8 %		20.3 %	23.8 %
Return on equity, ROE				7.5 %	48.7 %

Profit guidance for the financial year 2026

Revenue for the financial year 2026 is expected to be 29.9–31.2 million euros, representing approximately 10–15% growth compared to the financial year 2025 (2025: 27.1 million euros).

Adjusted EBITDA for the financial year 2026 is expected to be 12.7–13.9 million euros, representing approximately 5–15% growth compared to the financial year 2025 (2025: 12.1 million euros).

Basis for the profit guidance

For the real estate business, revenue growth is expected to remain stable. For ancillary services, revenue growth is expected to be more moderate compared to the previous year’s growth.

The growth investments already made and planned in the self‑storage business support profitable growth, but they are expected to have a temporary, negative impact on the relative profitability of the real estate business during 2026. The acquisition of the moving services business carried out at the beginning of the 2026 financial year is expected to have a slightly negative effect on the relative profitability of ancillary services.

The guidance is based on the assumption that no significant changes occur in the operating environment during the financial year.

Dividend distribution

The Board of Directors of Cityvarasto proposes to the Annual General Meeting that a dividend of 0.11 euros per share, amounting in aggregate to 878,651.07 euros, be distributed for the financial year 2025.

Financial targets

The Board of Directors of Cityvarasto has set the following financial and operational targets for the five-year review period starting at the end of 2024 and ending at the end of 2029:

• Growth: The average annual growth of the Group’s revenue is over 12% during the review period.
• Profitability: The Group’s EBITDA margin exceeds 50% during the review period.
• Investments: The Group’s annual investments average 10 million euros during the review period. The number of self-storage facilities is approximately 100 at the end of the review period.
• Leverage: The Group’s LTV ratio remains below 35% during the review period.

The key performance indicators related to financial targets at the end of the financial year were as follows:

• Revenue increased by 21.1% during the year 2025 and 25.4% during Q4.
• Adjusted EBITDA margin was 44.6% during the year 2025 and 39.5% during Q4.
• The Group’s investments during the year 2025 totalled 9.5 million euros.
• At the end of the period the Group had 77 self-storage facilities.
• The Group’s LTV ratio on 31 December 2025 was 20.3%

 

CEO’s review

Financial year 2025 was a period of exceptionally strong growth and strategic progress for Cityvarasto. The company achieved the best result in its history, with revenue increasing by 21.1% to 27.1 million euros and adjusted EBITDA growing by 20.1% to 12.1 million euros. Both figures exceeded the guidance provided for 2025. Our two business segments – real estate business including self‑storage services, and ancillary services including van rental and moving services – developed positively throughout the year. Growth and profitability in the van rental business were particularly strong as the significant fleet investments made in recent years began to yield their full effect.

In the fourth quarter, the company acquired a new property company in Kokkola. Through the transaction, Cityvarasto obtained a 3,000 m² well‑established building that had previously operated as a printing house, located on its own plot near the city centre. A modern self‑storage facility will be established at the site, with an opening planned for late 2026. During the financial year, a total of six new self‑storage facilities were opened, two of which are in leased premises, and seven new owned properties were acquired. These investments strengthen our position as Finland’s leading self‑storage operator and expand our service network even further.

The most significant single event of the financial year was Cityvarasto’s listing. The share issue was oversubscribed in both the institutional and public offering, and the company welcomed a broad base of new domestic and international shareholders. Particularly encouraging was the strong interest and participation of foreign institutional investors, reflecting international confidence in Cityvarasto’s business model and growth strategy. The listing was a strategic milestone for the company. It strengthens our capital structure, increases our visibility, and provides us with even better capabilities to execute our growth initiatives in the future.

Cityvarasto enters the new financial year from a position of strength. We believe that the market environment continues to offer attractive opportunities, and we are ready to seize them in a customer‑oriented and efficient manner. I would like to thank our customers for their trust, our employees for their strong commitment, and our shareholders for their support. Together, we will continue to advance Cityvarasto and strengthen its ability to capture future opportunities.

Ville Stenroos
CEO, Cityvarasto Plc

 

Financial calendar

Cityvarasto will publish its financial reports in 2026 as follows:

• The financial statements and the Board of Directors’ report for 2025 during week 13 (the week beginning 23 March 2026).
• Interim report for January–March 2026 on Monday, 11 May 2026.
• Half‑year report for January–June 2026 on Monday, 17 August 2026.
• Interim report for January–September 2026 on Friday, 13 November 2026.

Cityvarasto’s Annual General Meeting for 2026 is planned to be held on Tuesday, 28 April 2026. The company’s Board of Directors will convene the meeting at a later date

Cityvarasto Oyj has also published recorded presentation of the interim report featuring AI-generated voice and virtual avatars, in both Finnish and English.

The Finnish presentation is available through the following link:

https://investorcaller.com/events/cityvarasto/cityvarasto-q4-osavuosikatsaus-2025

The English version is available through the following link:

https://investorcaller.com/events/cityvarasto/cityvarasto-q4-report-2025

An interactive version of the report has also been published, allowing you to read the report and listen to a short summary in both Finnish and English. You may also submit written questions in either language until 3:00 p.m. EET on February 24^th 2026.

Submitted questions will be answered later the same day, and the responses will be made publicly available. Please note that published answers will include the name of the person who submitted the question.

 

To submit a question, registration is required.

The interactive report is available through the following link:

https://investorcaller.com/reports/cityvarasto/cityvarasto-q4-report-2025

Further enquiries

Ville Stenroos, CEO, Cityvarasto Plc, tel. +358 29 123 4747

Matti Leinonen, CFO, Cityvarasto Plc, tel. +358 29 123 4768

Certified Advisor

Skandinaviska Enskilda Banken AB (publ) Helsinki Branch, tel. +358 9 6162 8000

Information about Cityvarasto

Cityvarasto is a Finnish company established in 1999, operating in the self-storage sector. In addition to the parent company Cityvarasto Plc, the Cityvarasto Group includes, as its principal subsidiaries, PakuOvelle.com Oy, which specialises in van rentals, and Suomen Opiskelijamuutot Oy, a moving services company. The company’s shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol CITYVA.