Safestore Holdings plc
("Safestore", "the Company" or "the Group")
Fourth quarter trading update for the period 1 August 2025 to 31 October 2025
Continued growth across LFL stores in all markets supported by strong contribution from new stores
Frederic Vecchioli, Safestore's Chief Executive Officer, commented:
"We are encouraged by our continued momentum across the business with growth in all markets, driven by both LFL stores and our new store opening programme. In particular, we have seen a continuation of the improving trajectory in UK performance driven by robust domestic customer demand and the benefits from our space partitioning programme.
With the opening of four new stores taking our portfolio MLA to 9.3 million sq ft, our development programme has added 0.7 million sq ft of new MLA in the FY 2025 financial year, and a further 0.1 million sq ft so far in FY 2026, with the remaining pipeline totalling 1.0 million sq ft on track.
We will announce our full year results on 15 January 2026 and continue to expect to deliver in line with EPS consensus expectations1 for FY 2025.”
Highlights
- Group revenue for the quarter in CER increased 6.1% year-on-year with positive contributions from both LFL and new stores across all markets
- Like-for-like Group revenue for the quarter in CER up 3.3%
- Like-for-like UK revenue for the quarter up 3.4%, continuing our improving quarter to quarter trajectory with
- robust demand from domestic customers (with increase in occupied space for units < 250 sq ft)
- rate improvements supported by the positive impact from unit partitioning (with temporary reduction in CLA as space held for conversion)
- Like-for-like Paris revenue for the quarter up 2.0% driven by increased occupancy levels
- Like-for-like Expansion Markets2 revenue for the quarter up 4.9% with continued growth from both occupancy and rate partially offset by impact of phasing of German JV development fee income. Total revenue for expansion markets up 20.8% supported by new openings
- Like-for-like closing occupancy at 81.2% of CLA (FY 2024: 80.0%)
- Recently opened stores performing well, supporting Group revenue growth
- As at the announcement date, four new stores have opened since Q3 2025. We opened 98,900 sq ft in Paris across the two sites of La Défense and Noisy-le-Grand in Q4 2025. Following year end we opened a further 120,500 sq ft across another two sites, in London – Wembley and in Paris – Colombes, in November 2025. The remaining development pipeline remains on track
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For further information, please contact:
Safestore Holdings PLC
Frederic Vecchioli, Chief Executive Officer via Instinctif Partners
Simon Cliinton, Chief Financial Officer
www.safestore.com
Instinctif Partners
Galyna Kulachek / Tim Pearson 0207 457 2020 or email [email protected]
