Safestore Holdings Plc reported a solid year ending October 31, 2025, with revenue climbing 4.9% to £234.3 million. Like‑for‑like sales grew 3.1% across all markets, driven by a 3.3% rise in the UK, 2.5% in Paris, and a 27% jump in Spain, Netherlands and Belgium.

Underlying EBITDAR edged up 1.2% to £137 million, while profit before tax fell 4.2% to £92.9 million because higher finance costs from new borrowings funded expansion. Adjusted diluted EPRA earnings per share slipped 4.7% to 40.3 pence, reflecting the cost of scaling the portfolio.

Safestore added 13 new sites and an extension, boosting lettable area by 8% to 9.3 million square feet – the largest organic growth in recent history. CEO Frederic Vecchioli said the investment in the MLA expansion now drives revenue and will lift earnings and long‑term value.

Board members approved a 1% dividend hike to 30.70 pence, signalling confidence despite the earnings dip. Management forecasts earnings growth for fiscal 2026, with Q1 trading already echoing 2025 trends. Analysts expect £35‑£40 million of incremental EBITDA from non‑like‑for‑like stores once the expansion stabilises.