Growth
Other
Helsinki, Finland
Also available in Finnish
Last updated October 02, 2018
Cityvarasto Plc is the largest and the most profitable self storage company in Finland, founded in 1999.
Growth
Stage
29
Employees
1999
Founded
Financial information
Revenue EBITDA
2017 5 759 000 EUR 2 153 000 EUR
2016 5 145 000 EUR 1 876 000 EUR
2015 4 429 000 EUR 1 489 000 EUR
2014 3 948 000 EUR 653 000 EUR
Latest news

Cityvarasto Plc as a Main Owner of PakuOvelle.com

Cityvarasto Plc became the major shareholder of PakuOvelle.com with 51% ownership after buying shares and participating in the directed share issue.

Cityvarasto Oyj PakuOvelle.comin pääomistajaksi

Cityvarasto Oyj on hankkinut osakekaupoin sekä suunnatussa osakeannissa enemmistön Pakuovelle.comin osakkeista. Yhtiön omistusosuus on...

Business & market

Cityvarasto Plc is the only nationwide self storage chain with 37 facilities across Finland. The company's turnover and EBITDA have grown every year since founding. Turnover in 2017 was 5,76 million € and EBITDA 2,15 million € (37 %). The estimated market value of the properties owned by the company is 48,8 million €.

Business & market

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.

Excellent profitability

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.

Growth Strategy

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)

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Our team

Ville Stenroos, M.Sc. (tech)

CEO, Co-founder and Main Owner

LinkedIn

Ville is a serial entrepreneur focusing on innovation. He has more than 20 years’ experience in business leadership. With a strong vision, Ville has grown the company into the largest self storage operator in Finland, having the turnover and EBITDA rising annually since founding in 1999.

Matti Heiskanen, M.Sc. (tech)

Vice president and Co-Founder

LinkedIn

Matti has more than 15 years’ experience in construction planning and financial accounting. Matti deals with financial matters and capital loans, construction planning, real estate conversion and property maintenance.

Paula Nordgren, BBA

Sales, Marketing and HR Director

LinkedIn

Paula is responsible for sales, marketing and human resources. Paula has a long experience in sales and marketing management, B2B, B2C and team coaching.

Hannu Väisänen, M.Sc. (econ)

Finance and Administration Director

LinkedIn

Hannu is responsible for financial and administration matters. He has a long experience in real estate, management accounting, finance, strategy process and administration.

Our story

Cityvarasto Plc is the leading self storage company in Finland. We make life easier to our customers by offering nationwide modern self storage solutions, containers and additional services, like storage insurance, special packaging equipment, renting moving boxes and vans. We also receive deliveries and rent P.O.box address. We cooperate closely with our partner companies to provide total service to our customers regarding self storage, moving and van rental.

Cityvarasto Plc has 37 modern self storage facilities around Finland: Helsinki, Espoo, Vantaa, Hyvinkää, Kerava, Järvenpää, Tampere, Turku, Naantali, Oulu, Jyväskylä, Seinäjoki, Pori, Lahti, Hämeenlinna, Kuopio and Rovaniemi. With this network we can flexibly serve our customers near to them.

We rent self storage units both to private persons and to businesses. You can rent a self storage unit easily from our online store 24/7, or by contacting our customer service by phone 029 1234 700. The core of our service is flexibility. You can begin or end the storage rent at any time you need (according to termination conditions). You can access your storage unit at any time between 6-23 hours every day and so many times you wish. Our customers need only their phone to access Cityvarasto self storage facilities at no additional costs. Security of our customers’ possessions is our priority. All our facilities are monitored 24 hours a day with recording digital video cameras, access control system and security patrols.

We always serve our customers to our best. We are committed to meet customer’s needs. We help customers to find the most suitable storage solution. We keep our promises. We work hard to provide customers with the best service, so that they are satisfied and can recommend Cityvarasto!

Cityvarasto shares are traded at Privanet marketplace. You are welcome to join our Cityvarasto shareholders' club which offers several benefits for owners.

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Funding & Documents

Cityvarasto Oyj has raised 1.01M EUR in 1 funding rounds with a latest valuation of 24.41M EUR

Funding rounds
Date Amount
Jun, 2015 1 008 385 EUR
Documents
Forum

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