Cityvarasto (CITYVA) Q2 2025 earnings summary

Executive summary

• Revenue grew 18.1% year-over-year in H1 2025, reaching €12.6 million, with Q2 revenue up 19.9% to €6.6 million.

• Adjusted EBITDA increased 18.4% in H1 to €5.5 million, with a margin of 43.9%; Q2 margin was 51.2%.

• Net profit for H1 rose 69.2% to €2.4 million; Q2 profit nearly doubled year-over-year.

• Four new self-storage facilities opened, and two properties acquired, expanding the network to 72 locations.

• Ancillary business, especially van rental, saw strong growth, with van fleet expanding to 513 vehicles.

Financial highlights

• Q2 revenue: €6.6 million (+19.9%); H1 revenue: €12.6 million (+18.1%).

• Q2 adjusted EBITDA: €3.4 million (+18.6%), margin 51.2%; H1 adjusted EBITDA: €5.5 million (+18.4%), margin 43.9%.

• H1 operating profit: €4.3 million (+36.1%); Q2 operating profit: €2.95 million (+51%).

• H1 net profit: €2.4 million (+69.2%).

• NAV per share: €22.96 (+66.8% year-over-year).

• LTV ratio: 23.5% (improved from 31.5%).

Outlook and guidance

• Full-year 2025 revenue and adjusted EBITDA expected to grow 15–20% over 2024, in line with long-term targets.

• Management expects stable demand for self-storage, van rental, and moving services.

• Financial targets: average annual revenue growth >12%, EBITDA margin >50%, LTV <35% through 2029.