SSG: Marks anniversary with record high revenue and EBITDA

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(Oslo, November 1, 2022) Self Storage Group ASA (Self Storage Group, OSE:SSG) has delivered strong growth in the five years since the company was listed, and the Group marks the anniversary by delivering all-time high revenue and EBITDA in the third quarter 2022. A strong balance sheet combined with favourable financial terms, gives a solid foundation for further growth.

Revenues in Q3 2022 were NOK 101.9 million, up 10% from NOK 92.8 million in the corresponding quarter in 2021. This is the first time the NOK 100 million milestone in quarterly revenue was exceeded. The EBITDA in the third quarter ended at NOK 60.5 million, a 4% increase from 58.2 million.

"When SSG was listed five years ago, we targeted the large untapped potential for self-storage in Scandinavia and were confident that SSG had a solid platform to deliver growth and value creation. Looking back, I am proud of the results the team has delivered over our years as a listed company. Record-high results in the third quarter, a strong financial position and solid organization, show that the Group is well positioned to continue delivering value for our customers and shareholders”, says Fabian Søbak, CEO of Self Storage Group.

Self Storage Group experiences strong demand for its services, and occupancy for mature facilities was above targeted levels of 90% in the third quarter. Current lettable area (CLA) at the end of September 2022 was 182 600 m2, of which 167 700 m2 had been in operation for more than 12 months.

Three new properties in Norway and one in Denmark were acquired in the quarter, contributing to the development pipeline of 39 200 m2 CLA.

“SSG has demonstrated its solid and scalable platform and is well positioned for future growth in a growing market. We are pleased to see that it is expected that the growth targets of opening more than 15 000 m2 during 2022 will be met. The strong balance sheet enables continues investments for the future. Aiming to further accelerate growth, the target in 2023 will be to open more than 20 000 m2 of lettable area”, says Steven Skaar, Chairman of Self Storage group.

The third quarter 2022 report and presentation are enclosed.

A presentation of the results by CEO Fabian Søbak and CFO Cecilie Brænd Hekneby will be presented on November 1 2022 at 08:00 (CET) and broadcasted live on: on https://www.selfstoragegroup.no/web-cast/. The presentation will be held in English

For additional information, please contact: Cecilie Brænd Hekneby, CFO, +47 992 93 826 / cehe@selfstoragegroup.no

About Self Storage Group|www.selfstoragegroup.no

Self Storage Group ASA engages in the business of renting out self-storage units to both private individuals and businesses through the two concepts; OK Minilager and City Self-Storage. The company is one of the leading self-storage providers in Scandinavia with a particularly strong position in the Norwegian market. Self Storage Group operates 133 facilities across Scandinavia with a current lettable area of 182 600 square meters.