UK's Safestore revenue up on improved store performance

Safestore Holdings

15/01/2026 07:11

Overview

UK self-storage firm's revenue rose 5% at CER, driven by LFL and non-LFL growth

Adjusted EBITDA beat analyst expectations

Operating profit fell 62.6% due to lower property revaluation gains

Outlook

Safestore projects FY 2026 capital expenditure on new stores at £86 mln

Company expects 417k sq ft of additional MLA in FY 2026

Safestore forecasts £35-£40 mln incremental EBITDA from non-LFL stores upon stabilization

Result Drivers

REVENUE GROWTH - Revenue increased 5% at CER, driven by LFL and non-LFL store performance

STORE EXPANSION - Increased borrowings to fund store expansion impacted underlying PBT

COST CONTROL - Inflationary cost pressures offset by internal efficiencies, LFL cost of sales increase below guidance

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Adjusted EBITDA
Beat
GBP 137 mln
GBP 128.90 mln (11 Analysts)
FY Operating Profit
GBP 159.30 mln
FY Pretax Profit
GBP 127.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Safestore Holdings PLC is GBp775.00, about 0.8% above its January 14 closing price of GBp769.00

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nRSO9626Oa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)