The main concept of business is acquisition and conversion of real estate into modern self storage hotels. The market share of the company is about 27 %. Cityvarasto Plc is the largest self storage operator in Finland, having 37 facilities in big cities around Finland and 78,700 square meters of total floor area. The self storage market continues to grow and Cityvarasto aims to increase its market share. In many other countries like Sweden, UK and USA, the market is clearly bigger per inhabitant and the growth is still strong. Cityvarasto brand is well-known with 30 % population awareness in the cities where it is present.
For 2018, the Cityvarasto Group estimate EBITDA is 2,90 million € and the turnover 8,75 million €. These figures include estimates of the van renting company Pakuovelle.com. Cityvarasto achieves more than 50% EBITDA in full free hold facilities. The self storage business is steady, not easily affected by economical fluctuations and it is also more profitable than investing in housing.
Innovative Growth Company
Cityvarasto is the forerunner in the self storage sector. We apply, develop, and search digital applications suitable for self storage in order to simplify the usage and make customer’s daily life easier. Cityvarasto developed the world’s first online shop for self storage renting, for which it received the “Innovation of the Year Award” from Fedessa in Portugal. In the Finnish business growth competition Kasvu Open 2016, Cityvarasto placed among the top 8 finalists out of 717 companies and was awarded by the Nordea Growth and Finpro Going Global programs. The following year, in 2017, Cityvarasto received the "Company of the Year" award from the Federation of Helsinki Entrepreneurs and the company CEO was chosen as the "Entrepreneur of the Year" by the Federation of Central Helsinki Entrepreneurs.
Cityvarasto has been growing mainly organically but also through mergers and acquisitions. Mergers: Citystaff (2014), Tampereen Kaupunkivarastot (2014) Acquisitions (shares): Pakuovelle.com (2018, 51%), Hämeen Pikkuvarastot (2017, 100%), Pakuovelle.com (2016, 10%) Acquisitions (business operations): Homebox Finland (2016), Varastopiste (2015), Torivarasto (2014), Turun Minivarasto (2014), Agenttivarastot (2013), Hämeen Minivarasto (2009)