Brief: Shurgard Self Storage FY Underlying EBITDA Growth +12.2%

Shurgard Self Storage

28/02/2025 06:14

Feb 28 (Reuters) - Shurgard Self Storage Ltd SHUR.BR:

FY UNDERLYING EBITDA GROWTH +12.2%

END FY ADJUSTED EPRA EARNINGS GREW BY 5.0% AND REACHED €167.4 MILLION

FY 12.2% GROWTH IN ALL STORE NET OPERATING INCOME (NOI)

EXPECT TO DELIVER AN ADDITIONAL NOI OF C. €100 MILLION PER YEAR AT MATURITY, BASED ON OUR 8-9% RETURN REQUIREMENT

FULL YEAR REVENUE GROWTH OF 13.0% IN 2024, REACHING €406.7 MILLION

FY  INCOME FROM PROPERTY (NOI) EUR 267.7 MILLION

2025 OUTLOOK (AT CER): IMPROVEMENT OF UNDERLYING EBITDA MARGIN +0.5PP

SEES IN 2025 DIVIDEND €1.17 PER SHARE P.A. WITH OPTIONAL SCRIP DIVIDEND (C. 2% SHARES DILUTION)

2025 OUTLOOK (AT CER): ADJUSTED. EPRA EARNINGS EFFECTIVE TAX RATE C. 18.5%

2025 OUTLOOK (AT CER): NET INTEREST EXPENSES C. €50 MILLION

2025 OUTLOOK (AT CER): DIVIDEND €1.17 PER SHARE P.A. WITH AN OPTIONAL SCRIP DIVIDEND (C. 2% SHARES DILUTION)

MEDIUM-TERM GUIDANCE (AT CER): ALL STORE REVENUE AND NOI GROWTH ABOUT 8%

MEDIUM-TERM GUIDANCE (AT CER): DOUBLE-DIGIT GROWTH IMPROVEMENT OF UNDERLYING EBITDA

MEDIUM-TERM GUIDANCE (AT CER): NET DEBT INCREASE OF ABOUT 10% IN 2026, THEREAFTER ABOUT 2%

MEDIUM-TERM GUIDANCE (AT CER): DIVIDEND €1.17 PER SHARE P/A WITH OPTIONAL SCRIP (ABOUT 2% SHARES DILUTION)

EUR 142.6 MILLION CASH AVAILABLE AT YEAR-END, LTV OF 23.3%

Source text: https://tinyurl.com/4pxyefym

Further company coverage: SHUR.BR

 (Gdansk Newsroom)

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