Cityvarasto Plc Company Release 13 November 2026 at 9.00 a.m. EET

Cityvarasto Plc’s Interim Report 1 January–30 September 2026: Profitability Returned to Growth

This is a summary of Cityvarasto Plc’s Interim report for 1 January–30 September 2026. The complete report is attached to this release and is also available on the company website at https://sijoittajat.cityvarasto.fi/en/.

Figures in parentheses refer to the corresponding period of the previous financial year, unless otherwise stated. The figures presented are unaudited unless otherwise stated. However, the full-year 2025 figures have been audited.

Numerical values are presented in thousands of euros, unless otherwise stated, and percentages and key figures have been calculated based on the original, unrounded figures. The sum of individual figures may not correspond to the presented totals because the figures have been rounded to the nearest thousand.

Q3 in brief (1 July–30 September 2026)

• Revenue was 8,071 (7,299) thousand euros, an increase of 10.6%.
• Adjusted EBITDA was 4,113 (3,710) thousand euros, an increase of 10.9%, and adjusted EBITDA margin was 51.0% (50.8%).
• Adjusted operating earnings per share were 0.32 (0.30) euros, an increase of 8.5%.
• During the third quarter, Cityvarasto acquired the entire share capital of Kenguruvarastot Oy. The transaction transferred the company's self-storage business and its facility in Vantaanpuisto to the Group. In addition, Cityvarasto acquired a fully leased property in Kangasala and opened a new self-storage facility in Kempele.
• The number of self-storage facilities at the end of the period was 84 (76), and the occupancy rate was 83% (79%).

Q1–Q3 in brief (1 January–30 September 2026)

• Revenue was 22,723 (19,910) thousand euros, an increase of 14.1%.
• Adjusted EBITDA was 9,552 (9,246) thousand euros, an increase of 3.3%, and adjusted EBITDA margin was 42.0% (46.4%).
• Adjusted operating earnings per share were 0.66 (0.68) euros, a decrease of 3.2%.
• During the period, seven new properties were acquired and four new facilities were opened.

Group key figures

Guidance for the financial year 2026 (unchanged)

Revenue for the financial year 2026 is expected to be 29.9–31.2 million euros, representing approximately 10–15% growth compared to the financial year 2025 (2025: 27.1 million euros).

Adjusted EBITDA for the financial year 2026 is expected to be 12.7–13.9 million euros, representing approximately 5–15% growth compared to the financial year 2025 (2025: 12.1 million euros).

Basis for the guidance

For the real estate business, revenue growth is expected to remain stable. For ancillary services, revenue growth is expected to be more moderate compared to the previous year's growth.

The growth investments already made and planned in the self-storage business support profitable growth, but they are expected to have a temporary, negative impact on the relative profitability of the real estate business during 2026. The acquisition of the moving services business carried out at the beginning of the 2026 financial year is expected to have a slightly negative effect on the relative profitability of ancillary services.

The guidance is based on the assumption that no significant changes occur in the operating environment during the financial year.

Financial targets

The Board of Directors of Cityvarasto has set the following financial and operational targets for the five-year review period starting at the end of 2024 and ending at the end of 2029:

• Growth: The average annual growth of the Group’s revenue is over 12% during the review period.
• Profitability: The Group’s EBITDA margin exceeds 50% during the review period.
• Investments: The Group’s investments average approximately EUR 10 million per year during the review period.
• Facilities: The number of self-storage facilities is approximately 100 at the end of the review period.
• Leverage: The Group’s LTV ratio remains below 35% during the review period.

The key performance indicators related to financial targets at the end of the reporting period were as follows:

• The average annual revenue growth (CAGR) was 18.0% as of 30 September 2026.
• The adjusted EBITDA margin for the 12-month period ending 30 September 2026 was 41.4%.
• The Group’s investments averaged EUR 11.3 million per year in January 2025–September 2026.
• The number of self-storage facilities at the end of the period was 84.
• The Group’s loan-to-value ratio as of 30 September 2026 was 19.7%.

CEO's review

Our most important theme in the third quarter was strengthening profitability. Earlier in the year, we invested in growth. We have now focused on streamlining our operations and capturing synergies, and the effects of these measures were already clearly visible in our results. The Group's adjusted EBITDA returned to growth, increasing by 10.9%. At the same time, our growth remained strong. Revenue grew by 10.6% in the third quarter, with both segments increasing their sales.

The real estate business performed particularly strongly. The segment's adjusted EBITDA increased by 17.2%, and its adjusted EBITDA margin rose to 57.0% (54.3%). In addition to revenue growth, profitability was improved by the reorganization of operations carried out earlier in the year and other efficiency measures. As a result of these measures, the scalability of the business was reflected more clearly than before in our results for the period.

Profitability in ancillary services also improved significantly from the first half of the year. The gap in the segment's adjusted EBITDA compared to the comparison period narrowed to 5.6% in the third quarter from 32.5% in the six-month period. The improvement in profitability was supported by the reorganization of operations, more precise targeting of PakuOvelle.com's marketing investments and other cost-efficiency measures in both businesses.

In July, we acquired the self-storage business of Kenguruvarastot, and at the end of September a warehouse property in Kangasala. The Kangasala property is fully leased to a single user and generates positive cash flow from the completion of the transaction. After the reporting period, we acquired a property of approximately 15,000 m² in Vallila, Helsinki. It is one of the most significant investments in our company's history, and we see strong long-term potential in the property. These investments further strengthen our position as the leading player in the industry in Finland and support our profitable growth journey, also through economies of scale.

In October, the company carried out a share buyback programme. The decision reflects our confidence in the company's future, our strategy and our ability to create shareholder value over the long term.

I look ahead to the rest of the year with confidence. The third quarter showed that we are able to grow and improve our profitability at the same time. A strong balance sheet, a growing property portfolio and continuously developing services create excellent conditions for continued profitable growth in the years ahead.

Ville Stenroos

Chief Executive Officer

Cityvarasto Plc

Cityvarasto Plc will publish a recorded presentation of its interim report on 13 November 2026 at 9:00 a.m. EET, featuring AI-generated voice and virtual avatars, in both Finnish and English. The Finnish presentation is available through the following link:

https://investorcaller.com/events/cityvarasto/cityvarasto-q3-report

The English version is available through the following link:

https://investorcaller.com/events/cityvarasto/cityvarasto-q3-report-2026

An interactive version of the report has also been published, allowing you to read the report and listen to a short summary in both Finnish and English. You may also submit written questions in either language until 13 November 2026 at 3:00 p.m. EET.

Submitted questions will be answered later the same day, and the responses will be made publicly available. Please note that published answers will include the name of the person who submitted the question.

To submit a question, registration is required.

The interactive report is available through the following link:

https://investorcaller.com/reports/cityvarasto/cityvarasto-q3-report-2026

Further enquiries

Ville Stenroos, CEO, Cityvarasto Plc, tel. +358 29 123 4747

Matti Leinonen, CFO, Cityvarasto Plc, tel. +358 29 123 4768

Certified Advisor

Skandinaviska Enskilda Banken AB (publ) Helsinki Branch, tel. +358 9 6162 8000

Information about Cityvarasto

Cityvarasto is a Finnish company established in 1999, operating in the self-storage sector. In addition to the parent company Cityvarasto Plc, the Cityvarasto Group includes, as its principal subsidiaries, PakuOvelle.com Oy, which specialises in van rentals, as well as moving services companies Suomen Opiskelijamuutot Oy and Ja-Ki Muutto Oy. The company’s shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol CITYVA.