Belgium · Delayed Price · Currency is EUR Shurgard Self Storage Earnings Call Transcripts
Fiscal Year 2025
-
Revenue grew 10.8% in 2025, with EBITDA up 10.4% and EPS rising 1.7% despite Q4 headwinds. Guidance for 2026 targets 6%-8% revenue growth and stable dividends, while a higher hurdle rate will make future M&A more selective.
-
Strong H1 2025 results with 17.1% revenue growth, margin improvements, and robust portfolio expansion. Guidance for 2025 reaffirmed, with expected deceleration in same-store growth in H2, but continued investment and M&A activity anticipated.
-
Strategy centers on prime urban locations, operational efficiency, and a robust growth pipeline, with 2025 guidance targeting 11% NOI and revenue growth. Portfolio expansion, digitalization, and cost scalability drive strong returns, while leverage is managed to support EUR 2 billion investment by 2029.
Fiscal Year 2024
-
Revenue grew 13% year-over-year in 2024, driven by strong same-store performance and major acquisitions in the UK and Germany. NOI and EBITDA rose over 12%, with a robust pipeline and stable dividend policy supporting future growth.
-
Revenue and NOI growth accelerated in Q3, driven by UK and German acquisitions and strong same-store performance. 2024 guidance was raised, with Lok'nStore now expected to be earnings neutral this year and accretive in 2025. Balance sheet remains strong, supporting further expansion.
-
Revenue grew 8.2% in H1 2024, driven by strong markets and digitalization, with stable margins and robust NOI growth. Lok'nStore acquisition doubled UK presence and was rapidly integrated, supporting upgraded revenue guidance to at least 8% for 2024.