CITYVANasdaq HelsinkiReal Estate ServicesIFRS · EUR

Cityvarasto Oyj

Cityvarasto is a Finnish public company based in Helsinki that operates self-storage facilities and related property assets across Finland. Through its subsidiaries, it also provides van rental, moving services, packing supplies, shipping and receiving services, and office room rentals in business center properties.

Ask about the company

Business

Share of revenue
Self-storage rentals71 %

Rental of small storage units and related storage space across Finland.

Property and facility management18 %

Ownership, management, and development of storage-suitable real estate assets.

Ancillary moving and transport services7 %

Van rental and moving services that support storage customers.

Retail and service add-ons4 %

Packing supplies plus shipping and receiving services sold to storage users.

Customers

Cityvarasto serves consumers and businesses that need flexible short- or long-term storage space, especially in Finland’s largest urban centers. Its customer base also includes people relocating, small firms needing overflow space, and users who want bundled storage-related services such as van rental or moving support.

Consumer self-storage users

Households and individuals renting storage units for personal belongings, seasonal items, or life transitions.

Small business customers

Companies renting storage for inventory, tools, documents, or overflow stock.

Moving customers

Customers using van rental and moving services alongside storage during relocations.

Ancillary service buyers

Storage customers purchasing packing supplies and shipping/receiving services.

Strategy

Cityvarasto’s strategy is to strengthen its position in Finnish self-storage by expanding and efficiently using its property portfolio. It also uses adjacent services such as van rental and moving support to increase customer convenience and deepen the relationship around each storage customer.

Grow the storage property portfolioMedium term

More locations and units increase market reach and support long-term capacity growth.

Bundle adjacent servicesShort term

Van rental, moving, and packing services make the offering more useful and increase customer stickiness.

Improve utilization of existing sitesMedium term

Efficient use of property assets is central to returns in a real-estate-backed storage model.

Geography

Cityvarasto operates nationwide in Finland, with a network of locations concentrated in major urban centers where storage demand is strongest. The business is anchored in Finnish real estate and local customer access, so site location and catchment area are central to utilization and service convenience.

Risks

The business depends on occupancy, local demand, and the performance of storage-suitable real estate, so weak utilization or adverse property-market conditions can affect results. It also faces execution risk from property development, competition in urban storage markets, and operational risks tied to moving, van rental, and customer service activities.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Occupancy and utilization risk1Fair value volatility in investment properties2Competition in local storage markets3Operational execution in ancillary services4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Occupancy and utilization riskImpact: HighLikelihood: Medium

    Revenue depends on filling storage units and maintaining customer turnover at profitable levels.

    Exposure: Self-storage locations and urban catchments

  2. Fair value volatility in investment propertiesImpact: HighLikelihood: Low

    The company measures investment properties at fair value, so market shifts can move reported asset values and earnings.

    Exposure: Investment property portfolio

  3. Competition in local storage marketsImpact: MediumLikelihood: Medium

    Storage demand is location-specific and customers can switch to nearby alternatives if price or convenience changes.

    Exposure: Major Finnish cities

  4. Operational execution in ancillary servicesImpact: MediumLikelihood: Low

    Van rental and moving services add service complexity, vehicle utilization needs, and customer service exposure.

    Exposure: PakuOvelle.com and Suomen Opiskelijamuutot

Ask Clarifo about Cityvarasto Oyj

Accounting

Judgemental items
Investment property fair value measurement

Annual external valuations and management judgment can materially change reported asset values and profit.

Impact: Reported earnings, NAV, and balance sheet size

IFRS 11 joint arrangements

Some jointly owned property companies are treated as joint operations, affecting asset and liability recognition.

Impact: Balance sheet presentation and leverage metrics

IFRS 16 lease accounting

Lease liabilities and right-of-use assets affect reported debt and operating expense timing.

Impact: Leverage and EBITDA comparability

Segment reporting between property and ancillary services

The business combines real estate income with service revenue, so segment allocation affects margin interpretation.

Impact: Revenue mix and profitability analysis

Similar listed companies

Publicly listed companies with a comparable business focus.

Citycon Oyj

CTY1S · Real Estate - Diversified

Public Storage

PSA · Real Estate Investment Trusts

Castellum

CAST · Real Estate

CubeSmart

CUBE · Real Estate Investment Trusts

Kojamo Oyj

KOJAMO · Real Estate Services

Ovaro Kiinteistösijoitus Oyj

OVARO · Real Estate Services

Last updated: 24/09/2026