Cityvarasto (CITYVA) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 10.6% YoY to €8.071m and adjusted EBITDA increased 10.9% to €4.113m, returning to profitability growth.

• Jan–Sep revenue increased 14.1% to €22.723m and adjusted EBITDA rose 3.3% to €9.552m.

• The network comprised 84 facilities, including 75 open self-storage facilities, with 14,000+ units available for rent.

Financial highlights

• Q3 operating profit increased 60.0% to €2.715m and profit for the period rose 93.3% to €1.723m; prior-year Q3 EBITDA included €896k of non-recurring listing costs.

• Jan–Sep operating profit fell 12.8% to €5.211m and profit for the period declined 11.9% to €2.931m, mainly reflecting negative property fair-value changes and higher depreciation.

• Q3 adjusted operating EPS rose 8.5% to €0.32; Jan–Sep adjusted operating EPS fell 3.2% to €0.66.

Outlook and guidance

• FY2026 guidance was unchanged: revenue of €29.9m–€31.2m, implying 10%–15% growth, and adjusted EBITDA of €12.7m–€13.9m, implying 5%–15% growth.

• Guidance assumes stable real estate revenue growth, more moderate ancillary-services growth, temporary pressure on real estate margins from growth investments, and no significant operating-environment changes.

• 2025–2029 targets include average annual revenue growth of at least 12%, EBITDA margin above 50%, ~€10m average annual investment, ~100 facilities and LTV below 35%.