Safestore is the UK’s largest self-storage group with 134 stores.

They include 97 wholly owned stores in the UK including 58 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool and Bristol, together with 12 Space Maker stores under management in the UK and 25 wholly owned stores in the Paris region.

Safestore was founded in the UK in 1998. It acquired the French business “Une Pièce en Plus” in 2004 which was founded in 1998 by the current Safestore Group CEO Frederic Vecchioli.

Safestore has been listed in the London Stock exchange since 2007.

The Group provides storage to almost 46,000 personal and business customers.

Safestore (excluding Space Maker) has a maximum lettable area (“MLA”) of 5.1 million sq ft (excluding the expansion pipeline stores) of which 3.32 million sq ft is currently occupied.

Safestore employs around 550 people in the UK and France.

Safestore’s shares trade on the main market of the London Stock Exchange with the ticker SAFE.

Financial calendar

2015

22 January 2015 Preliminary results for the year ended 31 October 2014
February 2015 Publication of Annual Report and Accounts 2014
February 2015 Interim Management Statement
March 2015 Annual General Meeting
April 2015 Half Year End 2014/2015
June 2015 Interim results
September 2015 Interim Management Statement

http://www.safestore.com/

12:50 11/01/2017
Broker Forecast - Numis issues a broker note on Safestore Holdings PLC
Numis today upgrades its investment rating on Safestore Holdings PLC (LON:SAFE) to buy (from add) and set its price target at 476p. Story provided by StockMarketWire.com

13 Feb
Liberum Capital
475.00
Buy

First quarter trading update

Highlights
 
·      First quarter Group total revenue in CER1 up 13.3% with like-for-like revenue in CER up 4.7%
·      UK total revenue up 15.9% bolstered by the recent four new store openings and the Space Maker acquisition
·      UK like-for-like revenue up 4.9%
·      Paris revenue in CER1 up 4.6%

21 Feb
Numis
476.00
Buy
21 Feb
Liberum Capital
475.00
Buy

Fourth quarter tradind update

Highlights

·      Group revenue for the year in CER1 up 10.0%
·      Like-for-like5 Group revenue for the year in CER1 up 3.3%
o  UK up 3.1%
o  Paris up 4.0%
·      Balanced approach to revenue management continues to drive returns
o  Like-for-like average occupancy for the year up 1.4%
o  Like-for-like closing occupancy of 75.0% (up 1.3ppts on Q4 2016)
o  Like-for-like average storage rate for the year up 1.3% in CER1
·      Freehold site acquired at Merry Hill, west of Birmingham for a 55,000 sq ft store, subject to planning
·      Cash Tax Adjusted Earnings per Share6 for the year ended 31 October 2017 is expected to be slightly ahead of consensus7

Final results

Highlights

Strong Financial Performance
· Group revenue for the year up 12.6% (10.0% in CER1)
· Like-for-like9 Group revenue for the year in CER1 up 3.3%
o UK up 3.1%
o Paris up 4.0%
· Underlying EBITDA2 up 10.7% in CER1 which, offset by exceptional refinancing costs of £16.3m, drove a reduction in Profit before Tax10 of 16.9%
· Cash Tax Adjusted Earnings per Share6 up 17.7% at 23.3p
· 21.7% increase in the final dividend to 9.8p (FY2016: 8.05p)

first quarter trading update

Interim results

Highlights

Good Financial Performance
· Group Revenue up 10.5% (9.7% at CER2)
· Group like-for-like8 revenue at CER2 up 4.6% with UK up 4.3% and Paris up 5.6%
· Adjusted Diluted EPRA EPS up 21.2% at 12.6p
· 21.4% increase in the interim dividend to 5.1p

Operational Progress
· Strongest occupancy performance in the last five years as like-for-like increases of 5.2% in UK and 6.0% in Paris drive 210,000 sq ft or 5.4% growth in Group closing occupancy to 4.09m sq ft (4.50m sq ft including Alligator and new stores)
· Alligator acquisition integration progressing well and trading in line with expectations
· New Mitcham, London store opened in April 2018
· Paddington Marble Arch, London store opened in June 2018 with Paddington Green store to close in July 2018
· Further new store openings scheduled in Poissy Paris in August 2018 (planning granted) and Birmingham Merry Hill in April 2019 (subject to planning)
· Two new stores secured subject to planning in Carshalton, London and Magenta in central Paris

Strong and Flexible Balance Sheet
· Group loan-to-value ratio ("LTV"9) at 32.6%, interest cover ratio ("ICR"10) at 8.6x

14 Jun
Numis
N/A
Hold
14 Jun
Peel Hunt
N/A
Hold
14 Jun
Liberum Capital
N/A
Buy

Trading update

Highlights

· Group revenue in Q3 in CER1 grew by 10.3%
· Group like-for-like3 revenue in Q3 in CER increased 5.6% with strong performance in both geographies
o UK up 5.9%
o Paris up 4.3%
· Group like-for-like closing occupancy of 77.8% (up 3.3 ppts on Q3 2017)
· Group like-for-like average storage rate in Q3 in CER grew 0.5%
· Alligator stores performing in line with expectations
· Poissy store in west of Paris opened in August 2018
· New freehold site secured at Pontoise in North West Paris

Fourth quarter trading update

Highlights

· Group revenue for the year in CER1 up 10.4%
· Like-for-like3 Group revenue for the year in CER1 up 5.2%
o UK up 5.2%
o Paris up 5.1%
· Group like-for-like closing occupancy of 76.6% (up 2.7ppts on Q4 2017)
· Group like-for-like average occupancy for the year up 4.4%
· Group like-for-like average storage rate for the year up 0.2% in CER1
· Edinburgh Gyle store lease extended by 10 years
· Adjusted Diluted EPRA earnings per share6 anticipated to increase in line with consensus7