Safestore Holdings (SAFE)

Sector:

Real Estate

Index:

FTSE 250

809.00p
   
  • Change Today:
    -45.00p
  • 52 Week High: 921.00
  • 52 Week Low: 689.50
  • Currency: UK Pounds
  • Shares Issued: 218.49m
  • Volume: 666,320
  • Market Cap: £1,767.59m
  • RiskGrade: 111

Safestore FY revenues rise after 'strong trading performance'

By Iain Gilbert

Date: Tuesday 17 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Self-storage facilities group Safestore said on Tuesday that it had delivered a "strong trading performance" in a year of "significant strategic progress and geographic expansion".
Safestore stated revenues rose 13.8% in the 12 months ended 31 October 2022 to £212.5m, while underlying earnings increased 14.5% to £135.1m. Like-for-like revenues were up 10.7% year-on-year.

Statutory operating profits were up 23.4% at £514.4m, pre-tax profits grew 23.3% to £498.8m and diluted earnings per share jumped 18.7% to 29.8p.

Average storage rates were up 8.5% at £29.25, while closing occupancy slipped 2.4 percentage points to 82.1%.

The FTSE 250-listed group added that it had seen a 30.9% increase in property valuation during the year and noted that its revolving credit facilities had been refinanced with a new increased £400.0m unsecured multi-currency four-year facility.

Chief executive Frederic Vecchioli said: "I am pleased to report another excellent year in which we delivered significant strategic progress, having enhanced our funding capacity, doubled our development pipeline to circa 1.4m square feet of MLA and extended our geographical footprint.

"The strong trading performance for the year is especially pleasing as it follows a record year in 2021. Our 2022 result was achieved through strong revenue growth in the UK market, good performances in our Parisian and Spanish businesses, and seven months' contribution from our Benelux business, which was acquired in March 2022."

As of 0835 GMT, Safestore shares were down 0.35% at 996.51p.



Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SAFE Market Data

Currency UK Pounds
Share Price 809.00p
Change Today -45.00p
% Change -5.27 %
52 Week High 921.00
52 Week Low 689.50
Volume 666,320
Shares Issued 218.49m
Market Cap £1,767.59m
RiskGrade 111

SAFE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.32% below the market average66.32% below the market average66.32% below the market average66.32% below the market average66.32% below the market average
94.74% below the sector average94.74% below the sector average94.74% below the sector average94.74% below the sector average94.74% below the sector average
Price Trend
30.62% above the market average30.62% above the market average30.62% above the market average30.62% above the market average30.62% above the market average
12.20% above the sector average12.20% above the sector average12.20% above the sector average12.20% above the sector average12.20% above the sector average
Income
22.89% above the market average22.89% above the market average22.89% above the market average22.89% above the market average22.89% above the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average
Growth
90.92% above the market average90.92% above the market average90.92% above the market average90.92% above the market average90.92% above the market average
88.89% above the sector average88.89% above the sector average88.89% above the sector average88.89% above the sector average88.89% above the sector average

What The Brokers Say

Strong Buy 5
Buy 3
Neutral 6
Sell 0
Strong Sell 0
Total 14
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SAFE Dividends

  Latest Previous
  Interim Final
Ex-Div 04-Jul-24 07-Mar-24
Paid 08-Aug-24 09-Apr-24
Amount 10.00p 20.20p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 74,517 @ 818.91p
16:35 1,436 @ 809.00p
16:35 215,082 @ 809.00p
16:35 1 @ 809.00p
16:35 84 @ 809.00p

SAFE Key Personnel

CEO Frederic Vecchioli
CFO Simon Clinton

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