Feb 24, 2026 (MarketLine via COMTEX) --
Cityvarasto Oyj has released financial statements for the period 1 JanuaryaEUR"31 December 2025.
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.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
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