SSG: The strong performance continues in Q3
(Oslo, November 2, 2021) Self Storage Group ASA (Self Storage Group, OSE:SSG) delivers another record quarter with all-time high revenue and EBITDA. Revenue in Q3 2021 was NOK 92.8 million, up 24% from NOK 75.0 million in the corresponding quarter in 2020, and EBITDA of NOK 58.2 million, was a 21% increase from 48.0 million.
"Our business model continues to prove enduring through our ability to grow and expand while delivering continued profitability. On behalf of the team, I am proud to announce another quarter of record results as well as strengthened financial flexibility” says Fabian Søbak, CEO of Self Storage Group.
A private placement of NOK 300 million in gross proceeds was successfully completed in August 2021, giving a total equity at the end of September 2021 of NOK 1 549 million.
The Self Storage Group increased its current lettable area by 15 100 m2 during the first nine months of 2021, consisting of 7 700 m2 from organic growth and 9 400 m2 from the acquisition of Dit Pulterkammer, which was closed in April 2021. The Group plans to open between 12 000 and 14 000 m2 organically during 2021, with a significant part in the fourth quarter following the opening of new facilities. The average occupancy in the third quarter of 2021 was 91.6% (85.2%) for sites in operation for at least 12 months and average rent per m2 was NOK 2 321 per year (NOK 2 320).
By the end of September 2021, the value of the freehold investment property was NOK 2 089 million and the fair value of leasehold investment property was NOK 442 million.
"By focusing on sustainability, quality and customer satisfaction, we continue to be a leader in a market with strong demand for external storage solutions. By growing our lettable footprint across Scandinavia, the Self Storage Group is well-positioned to reap the benefits of scale, well-known brands and a customer-oriented and automated business model”, says Steven Skaar, Chairman of Self Storage Group.
The third quarter 2021 report and presentation are enclosed.
The results will be presented at 08:00 (CET) at Felix Conference Center, Bryggetorget 3, Oslo, Norway. The presentation will be held in English by CEO Fabian Søbak and CFO Cecilie Brænd Hekneby.
The presentation will be broadcasted live on
For additional information, please contact:
Cecilie Brænd Hekneby, CFO, +47 992 93 826 / email@example.com
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 126 facilities across Scandinavia with a current lettable area of 165 300 square meters.