Cityvarasto Avainlippu - Suomalaista palvelua


Cityvarasto Oyj is a Finnish nationwide self storage chain founded in 1999. Its net sales and EBITDA have grown every year since its foundation. Turnover in 2016 was 5,14 million euros and EBITDA 1,88 million euros (37%). In terms of profitability and number of sites Cityvarasto Oy is the leading self storage company in Finland. The estimated market value of the properties owned by the company is 44,5million euros.

The core business of Cityvarasto is acquisition and converting real estate into modern self storage sites. The market share of the company is appr. 31%. With 35 sites and 70,000 square meters of rental area, the company is the largest in Finland.  The self storage market continues to grow rapidly and Cityvarasto aims to increase its market share. In various other countries, the self storage market is clearly bigger and the growth is still strong. The company has launched a franchise concept to expand also into smaller cities in Finland. The first franchise partner has opened a storage in Hyvinkää.

Excellent profitability – the forecasted EBITDA for 2017 is 1.75 million euros (37%) and forecasted  turnover is 5.8 million euros. With full locations, approximately 50% EBITDA can be achieved. In other countries, the stock listed self storage companies have achieved even 73% EBITDA. Self storage business is steady and not easily affected by economical fluctuations, self storaging is also more profitable than investing in housing.

Innovative Growth Company - has developed the world's first online shop for storage renting. Company was awarded with  FEDESSA's "Innovation of the Year" award in Portugal in 2011. In the Kasvu Open 2016 competition Cityvarasto was among the top 8 companies, more than 700 participated the event.

Growth Strategy - inorganic growth by merging and acquisitions:
Mergers: Citystaff 2014, Tampereen Kaupunkivarastot 2014
Acquisitions (shares): (1 of 4 owners) 2016, Hämeen Pikkuvarastot 2017
Acquisitions (business operations): Hämeen MInivarasto 2009, Agenttivarastot 2013, Turun Minivarasto 2014, Torivarasto 2014, Varastopiste 2015, Homebox Finland 2016