Brief: Shurgard Self Storage Q1 Underlying EBITDA EUR 47.4 Million, Up 6.7%

Shurgard Self Storage

03/05/2024 06:12

May 3 (Reuters) - Shurgard Self Storage Ltd  SHUR.BR :
    * FIRST QUARTER 2024 RESULTS
    * WE EXPECT TO DELIVER A C. 7.5% TOTAL REVENUE GROWTH FOR
THE YEAR
2024
    * Q1 CASH POSITION: €151.8 MILLION
    * 2024 OUTLOOK: IN 2024 PLAN TO HAVE A STABLE NOI MARGIN
    * 2024 OUTLOOK: WE PLAN TO INVEST IN EXCESS OF €300 MILLION
    * Q1 €34.2 MILLION OF ADJUSTED EPRA EARNINGS, REPRESENTING A
GROWTH OF 12.6%
    * INTENDS TO DECLARE A DIVIDEND OF €1.17 PER SHARE FOR THE
FISCAL
YEAR
    * 2024 OUTLOOK: AVERAGE EFFECTIVE INCOME TAX RATE EXPECTED
TO BE
AT C. 17%
    * ALL STORES REVENUE GREW BY 7.1% (AT CER) IN Q1
    * 2024 OUTLOOK: PLAN TO ADD C. 90,000 SQM VIA
REDEVELOPMENTS, NEW
DEVELOPMENTS AND ACQUISITIONS
    * IN-PLACE RENT (+4.8%) AND STABLE OCCUPANCY AT 89.2% FOR
OUR SAME
STORE POOL IN Q1
    * Q1 UNDERLYING EBITDA EUR 47.4 MILLION, UP 6.7% YOY
    * Q1 PROPERTY OPERATING REVENUE EUR 93.4 MILLION, UP 7.7%

Source text for Workspace: [ID: nFWN3H52IM]
Further company coverage:  SHUR.BR 

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