Brief: Shurgard Self Storage H1 EBITDA Up At EUR 91.5 Mln

Shurgard Self Storage

19/08/2022 06:22

Aug 19 (Reuters) - Shurgard Self Storage SA  SHUR.BR :
    * H1 12.3% PROPERTY OPERATING REVENUE GROWTH
    * CASH POSITION: €175.8 MILLION AS OF JUNE 30, 2022
    * H1 16.0% INCOME FROM PROPERTY (NOI) GROWTH
    * LTV: 16.8% AS OF JUNE 30, 2022
    * H1 9.1% SAME STORE PROPERTY OPERATING REVENUE GROWTH
    * END-JUNE EPRA NET TANGIBLE ASSETS (NTA) PER SHARE: €38.46,
AN
INCREASE OF 24.6% VERSUS. JUNE 30, 2021
    * IN H1 DELIVERED €64.5 MILLION OF ADJUSTED EPRA EARNINGS,
REPRESENTING A GROWTH OF 15.3%
    * END-JUNE ADJUSTED EPRA EARNINGS PER SHARE OF €0.72 AS OF
JUNE
30, 2022, GROWTH OF 4.6% VERSUS. THE SAME PERIOD PRIOR YEAR
    * INTERIM DIVIDEND OF €0.58 PER SHARE – PAYMENT ON OR ABOUT
SEPTEMBER 29, 2022
    * 2022 OUTLOOK: BASED ON OUR STRONG H1 2022 RESULTS, OUR ALL
STORE
REVENUE GROWTH GUIDANCE OF ABOVE 7% FOR 2022 VERSUS 2021 WILL BE
EXCEEDED AND IS RAISED TO 10%-12% FOR 2022
    * 2022 OUTLOOK: WE PLAN TO ADD C. 49,000 SQM VIA
REDEVELOPMENT,
NEW DEVELOPMENTS AND ACQUISITIONS
    * 2022 OUTLOOK: OUR AVERAGE EFFECTIVE INCOME TAX RATE IS
EXPECTED
TO REMAIN BELOW 20% IN 2022 (BASED ON ADJUSTED EPRA EARNINGS
BEFORE TAX)
    * WE EXPECT TO CONTINUE TO PROVIDE EXCELLENT VALUE TO OUR
SHAREHOLDERS THROUGHOUT THE REMAINDER OF THE YEAR - CEO
    * H1 PROPERTY OPERATING REVENUE EUR 161.4 MILLION VERSUS EUR
143.8
MILLION YEAR AGO
    * H1 EBITDA EUR 91.5 MILLION VERSUS EUR 79.1 MILLION YEAR
AGO
    * H1 ADJUSTED EPRA EARNINGS EUR 64.5 MILLION VERSUS EUR 61.4
MILLION YEAR AGO

Source text for Eikon:  ID:nNDL5XCd8V 
Further company coverage:  SHUR.BR 

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